Biometric System market to showcase an annual healthy growth rate over 2021-2025

 

Increasing adoption of biometric system in government sector for a range of applications, such as ration card enrollment, voter registration in low literacy economy, e-passport, and identifying individuals, offering growth to the biometric system market.

 

Description

 

Biometric System Market: by Authentication Type (Single-Factor Authentication and Multi-Factor Authentication), by Offering Type (Software and Hardware), by Functionality Type (Contact, Contactless and Combined), by End User (Government, Military and Defense, Healthcare, BFSI, Consumers Electronics, Security, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

 

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The biometric system market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The study of the report will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the biometric system industry.

 

Biometric System Market: Introduction

 

A biometric system is a technology to identify individuals through biological data, such as fingerprints, DNA, voice waves, retina, hand geometry, and others. It analyzes physiological or biological characteristics specific to each individual to be able to verify their identity. The integration of biometric systems is continuously increasing in smartphones for surveillance and security due to the increasing cyber crimes and terror attacks. Biometric data protection is swiftly replacing the conventional methods of securing data through pin codes and photographs in educational industries, government centers, and workplaces. Various government authorities have made it mandatory for every individual to enroll themselves in biometric systems. These data will assist to differentiate every person and decrease the chance of fraudulent activities.

 

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Biometric System Market: Dynamics

The growing adoption of biometrics systems in smartphones for different application, increasing use of biometrics in the banking industry especially to make a transaction, and growing application of the biometric system in healthcare industries are some factors driving the growth of the market across the globe. Moreover, the growing usage of biometrics at workplaces to maintain a database of employees, track employees’ attendance, and punctuality are factors fueling the growth of the global biometric system market. Other market driving factors includes the increasing adoption of biometric system in the government sector for a range of applications, such as ration card enrollment, voter registration in low literacy economy, e-passport, and identifying individuals. For instance, India’s national ID–Aadhar program is one of the biggest biometric databases in the globe enabling government agencies to deliver retail services without the physical presence of an officer at a given place. 

The usage of biometric systems for criminal identification is driving the demand for biometric systems across the globe. Opportunities for the global biometric systems market can be created by technology advancement, up-gradation for AI-controlled biometric devices. However, the high cost of smart biometric devices, security concerns, lack of skilled workforce to handle biometric devices, and data storage are the main factors that restrain the growth of the global biometric systems market during the forecast period.

 

Biometric System Market: Competitive Landscape

 

The leading biometric system manufacturers in the global market include Thales Group, Safran, NEC Corporation (NEC), ASSA ABLOY AB (ASSA ABLOY), and Fujitsu. Other biometric system manufacturers include Bio Key International Inc., Precise Biometric AB, Secunet Security Network AG, Aware Inc., and Cross Match Technologies. 

 

·         In March 2018, Thales Group acquired Gemalto to enhance its biometric offerings in the digital security arena.   

·         In June 2019, Gemalto acquired Green Bit S.p.A to enhance its biometric capture capacities.

 

The research report of the biometric system market provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs. 

 

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