Biometric Systems Global Market Size, Share, Growth Analysis Forecast to 2022
New York, NY -- (SBWire) -- 08/16/2017 --Biometric Systems Industry
Wiseguyreports.Com Adds "Biometric Systems -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022" To Its Research Database
The global biometric systems market is growing impressively with a CAGR of 16.8% during 2016-2021. The market is expected to grow modestly due to variety of factors which includes cohesive support from governments across the globe and favorable regulations that triggers the adoption of biometric systems in varied domains and organization. Other factors such as a need for security, rapid adoption of e-passport by countries, theft and security concerns and so forth are contributing in the growth of the market. Huge demand is emerging from varied sectors which includes government, military & defense, transport & logistics, commercial safety & security, healthcare, banking & finance, consumer electronics, business organizations and so forth will continue to contribute in the growth of biometric systems market. Adoption of biometrics system in smartphone, PCs, passport offices, banks will continue to contribute significantly in the growth of Biometrics system market.
The market for biometric systems is expected to see new highs in future due to rapid growth seen in the e-commerce segment. The online buyers are continually increasing which is leading to a totally digitized shopping experience. This increases lot of theft and fraud chances. The biometric systems are being seen getting adopted in e-commerce which can be seen as a solid growth for the biometric systems market during the forecast period. Biometrics system market by technology such as face recognition, fingerprint recognition, iris recognition, palm print/hand recognition, hand geometry recognition, voice recognition, signature recognition and so forth are widely adopted across the globe. However, privacy issues and
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On the geographical front, North America is the clear leader in the biometric systems market and is expected to retain its position during the forecast period as well due to the growing usage and adoption of biometric systems in the region. The biometric systems in North America are rapidly finding usage in various fields such as homeland security & employee scrutiny. The adoption of biometric systems in the defense has also created solid opportunities for the market in past and with the growing technological advancement biometric systems are further expected to be absorbed more in the defense during the forecast period. Moving further, according to our estimates the APAC region is shining brighter than any other region and is expected to be the fastest growing region during 2015-2021. The reason behind this estimate is the growing security concerns which is leading the government in India and China to promote biometric systems and creating more awareness among the masses which are hesitant or reluctant to the use of biometric systems so far.
The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, pipeline analysis, patent analysis, strategic recommendations, key company analysis, gap analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.
Major players in the limelight include 3M cogent Inc., Biokey international Inc., CogniTech systems GmbH, Cross Match Technologies, Daon Inc., Fujitsu Ltd., Fulcrum Biometrics, iDTech, Siemens Ag, suprema Inc., RCG Holding Ltd., NEC corporation, Precise Biometrics Ab etc. The companies are always looking forward to catch a pie of the cake and therefore are relying on strategic initiatives such as M&A, product launches and expansion.
Positive efforts by the companies can be seen by the fact that on April 2014, Cross match, which is one of the major players in the league acquired Digital Persona. Both companies are well known in the space with an impressive brand presence in the play. But as a strategic move both decided to merge and share portfolio to improve their global presence in the biometric systems market.
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Global Biometric Systems Market By Travel and Immigration Market 2015-2020 ($ Million)
- Global Biometric Systems Market By Application 2015-2020 ($ Million)
- Global Biometric Systems Market By Hand Geometry 2015-2020 ($ Million)
- Global Biometric Systems Market By Face Recognition 2015-2020 ($ Million)
- Global Biometric Systems Market By Voice Recognition 2015-2020 ($ Million)
- Global Biometric Systems Market By Iris Recognition 2015-2020 ($ Million)
- Global Biometric Systems Market By Others 2015-2020 ($ Million)
- Global Biometric Systems Market By Commercial And Home Security Market 2015-2020 ($ Million)
- Global Biometric Systems Market By Consumer Electronics Market 2015-2020 ($ Million)
- Global Biometric Systems Market By Others Market 2015-2020 ($ Million)
- Comprehensive research methodology of Global Biometric Systems Market.
- This report also includes detailed and extensive market overview with gap analysis, historical analysis & key analysts insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Biometric Systems Market.
- Insights about market determinants which are stimulating the Global Biometric Systems Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues
- Extensive profiles and recent developments of market players
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