Vancouver, WA -- (SBWIRE) -- 11/05/2019 -- Market Overview:

Biometric technology is used for recognition and verification of persons by analyzing their fingerprints, voice, face, iris, and hand geometry signatures. Biometrics is a technology that can be implemented across different industries wherever identification and authentication is a need, regardless of their type, size, shape or geographic location. Growing applications in commercial & government sectors, technological advancement, and increasing demand for improved security systems in organizations fuel the market growth during the forecast period.
The emergent adoption of the technology in the e-commerce industry for secure payments, growing applications within the finance industry, and increasing security concerns are anticipated to propel the market during the forecast period. In India government projects like Aadhaar program (UIDAI), coupled with the issuance of e-passports & visas, etc. further projected to propel the market. Moreover, an increasing number of ATMs, coupled with the growing number of smartphone and internet users is also projected to have a huge positive impact on the biometrics market. With biometrics technology, there are reduced frauds and security breaches as compared to traditional methods like the use of tokens and passwords. Other factors such as a need for security, growing terror attacks and increasing crimes are driving the market growth

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Among Authentication type, Single-Factor Authentication segment holds the largest market share of the global biometric system market during the forecast period

Based on the authentication type, the market has been divided into Single-Factor and Multifactor authentication. Among them, the single-factor market dominates the overall market during the forecast period 2019-2025. Single-Factor authentication includes Fingerprint recognition, Iris recognition, palm print recognition, Face recognition, Signature recognition, Voice recognition, and others. Multifactor authentication includes Smart card with biometrics, Pin with biometrics, and Multimodal biometrics. In 2017, the pin with biometrics held the largest share of multifactor authentication type in the biometrics system market due to its cost-effectiveness. The systems based on both biometrics and PIN uses a secure technique for authentication compared with other multifactor authentication systems.

Non-Contact segment is projected to be the fastest growing functionality type of the global biometric system market during the forecast period

Global biometrics system market has been segmented based on functionality type as Contact, Non-Contact, and Combined. With the development of information and communication technology in recent years, the importance of security measuring is increasing. The fingerprint technology is the leading contact functionality segment of the overall biometric system market. The extensive adoption and rising implementation of fingerprint recognition systems are propelling the market for contact-based functionality.

North America accounts for the lion's share of the global biometric system market during the forecast period
Geographically, the biometric system market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is the leading region during the forecast timeline due to favorable government regulations, growing travel & tourism activities across the region and the presence of major industry players will significantly contribute to the regional sales. Asia Pacific biometrics market is expected to showcase a significant growth rate owing to the increased implementation of biometrics in China and India. Furthermore, the introduction of China Resident Identity Card Law by China requires scanned and recorded fingerprints of citizens for identification. Europe biometrics market is projected to exhibit a significant share due to wide usage in military and IT applications.

Objective of the Study:

- To analyze and forecast market size of the global biometric system market in terms of value.
- To examine the careful market segmentation and forecast the market size, in terms value, on the basis of region by segmenting biometric system market into five regions, namely, North America, Europe, Asia Pacific, Middle East& Africa, Latin America and their leading countries.
- To outline, categorized and forecast the global biometric system market on the basis of authentication type, functionality type and application.
- To examine competitive developments like technological advancement, services, and regulative framework within the global biometric system market.
- To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
- To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

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Global Biometric System Market: Competitive Landscape

Companies such as Safran, NEC corporation, Thales, Fujitsu limited, ASSA ABLOY, Precise Biometrics, 3M Cognent, Secunet Security Networks, Hitachi, Cross Match Technologies, Stanley Black & Decker, Cognitec Systems, Daon, Facebanx, BIO-key International, Securiport, M2SYS Technology, Suprema, Qualcomm, Fulcrum Biometrics, and VASCO Data Security International are the leading players of biometric system market across the globe.

Key Target Audience:

- Market research and consulting firms
- Industry associations
- Global biometric system manufacturers
- Research organizations and consulting companies
- Organizations, associations and alliances related to biometric system market
- Regulatory bodies

Scope of the Report

By Authentication Type

- Single-Factor
- Multifactor

By Functionality Type

- Contact
- Non-Contact
- Combined

By Application

- Government
- Military & Defense
- Healthcare
- Banking & Finance
- Travel & Immigration
- Automotive
- Others

In addition, the report provides analysis of the biometric system market with respect to the following geographic segments and their high performing regions:

North America

- U.S.
- Canada

Europe

- Germany
- U.K.
- Italy
- France
- Rest of Europe

Business Questions answer by the report

- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with detailed classification
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.

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Customization Scope for the Client

Client satisfaction is our first and last priority. And that's why BlueWeave Consulting offers customization according to Company's specific needs. The following customization options are available for the report:

Additional Company Information
- With five additional company detail analysis.
- Additional country analysis.
- Detailed segment analysis.

Don't miss the business opportunity of Global Biometric System Market. Consult to our analyst and gain crucialinsights and facilitate your business growth.

The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global biometric system market size & forecast. The report promises to provide state-of-the-art technology of biometric system production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

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