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Biometric Technology Market by Component, Type, and End User : Global Opportunity Analysis and Industry Forecast, 2021–2030

Biometric Technology Market by Component, Type, and End User : Global Opportunity Analysis and Industry Forecast, 2021–2030

  • February 2022
  • 117 pages
  • ID: 6269732
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Biometric Technology Market by Component (Hardware and Software), Type (Physiological Biometric (Face Recognition, Iris Recognition, Fingerprint Recognition, Hand Geometry and Others), Behavioral Biometric (Signature Recognition, Voice Recognition and Others)), and End User (Public Sector, BFSI, Healthcare, IT and Telecommunication and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030



Biometric technologies generally refer to the use of technology to identify a person based on some aspect of their biology. Furthermore, biometric technologies render high-performance security solutions utilizing an individual’s physiological characteristics that include fingerprint impression, face detection, palm-vein recognition, and iris identification. The innovative biometric technologies employing unique physical traits are applicable to multiple sectors ranging from health care, education, agriculture, airports, large to small enterprises, aviation, hotels, banking & finance, government agencies & social welfare schemes, insurance, retail, manufacturing, and law enforcement to hospitality & tourism.
Growth in applications of biometric technology in commercial and government sectors such as government and private offices and public spaces such as airports and malls is one of the major driving factors. In addition, increasing concern for safety and security and biometric technologies friendly usage are some of the factors propelling the market growth. However, the cost of installing these technologies in office premises and other spaces is higher for which consumers do not opt for such high level security equipment’s which is limiting the growth of the market. In addition, technological limitations such as poor resolution of the image and low-quality capture devices can cause problems in identification and fear of privacy intrusion are some of the factors that hamper the biometric technology market growth. On the contrary, the technological development in the field of biometrics that can be integrated with machine learning and algorithm can be used as a strong authentication system. Furthermore, dependency on biometrics technology for authentication purpose by various industry verticals is expected to provide lucrative opportunities for the growth of biometrics technology market in the coming years.
The biometric technology market is segmented on the basis of component, type, end user and region. On the basis of component, it is segmented into hardware and software. By type, it is segmented into physiological biometrics and behavioral biometrics. The physiological biometrics segment is further sub segmented into face recognition, iris recognition, fingerprint recognition, hand geometry and others. The behavioral biometrics segment is further divided into signature recognition, voice recognition and others. By end user, it is classified into public sector, BFSI, healthcare, it and telecommunication and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the biometric technology market such as 3M Company (Congent Systems, Inc.), Fujitsu Frontech Limited, Imageware Systems, Inc., Suprema, Inc., Safran S.A., secunet Security Networks AG, Thales S.A., BIO-key International, NEC Corporation and Precise Biometrics. These players have adopted various strategies to increase their market penetration and strengthen their position in the biometric technology industry.

Key benefits for stakeholders
• The study provides in-depth analysis of the global biometric technology market along with the current & future trends to illustrate the imminent investment pockets.
• Information about key drivers, restrains, & opportunities and their impact analysis on the global biometric technology market size are provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global biometric technology market from 2021 to 2030 is provided to determine the market potential.

Key Market Segments

By Component
• Hardware
• Software

By Type
• Physiological Biometrics
o Face Recognition
o Iris Recognition
o Fingerprint Recognition
o Hand Geometry
o Others
• Behavioral Biometrics
o Signature Recognition
o Voice Recognition
o Others

By End User
• Public Sector
• BFSI
• Healthcare
• IT and Telecommunication
• Others

By Region
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe

• Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa

Key market players
• 3M Company (Congent Systems, Inc.)
• Fujitsu Frontech Limited
• Imageware Systems, Inc.
• Suprema, Inc.
• Safran S.A.
• Secunet Security Networks AG
• Thales S.A.
• BIO-key International
• NEC Corporation
• Precise Biometrics

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