Biometric System Market Research, Top Leading Player

The global Biometric System Market research report is a thorough and important resource that provides business strategies, qualitative and quantitative analysis, and developing trends. The report offers thorough investigation and analysis of the major components of the Biometric System Market on a worldwide scale. The research analysts prepared this report after completing thorough primary and secondary research and analysing the Biometric System Market's drivers, constraints, challenges, trends, and opportunities.

According to the most recent analysis by Emergen Research, the size of the worldwide biometric system market is anticipated to reach USD 115.41 billion in 2030, with a revenue CAGR of 13.2%. The worldwide healthcare industry's growing need for and acceptance of contactless biometrics systems is a major factor in the market revenue growth of biometric systems. For instance, on May 8, 2020, NEC Company unveiled NeoFace Thermal Express, a dual-faced access control system with fever detection and biometrics. Both increased body temperatures and Personal Protection Equipment (PPE) gear, including face masks and other items, are detectable by the gadget. A further element boosting market revenue growth is a rise in the demand for high-level security in the private, commercial, and public sectors.Due to expanding terrorist activity and possible threats, demand for facial and voice recognition software in security and surveillance applications has considerably increased recently. This software is frequently deployed at airports for identification purposes, but deployment has also been rising at customs and border checks, and in very recent times, police have even used it to identify and detain people at rallies.

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Global Biometric System Market Highlights:

Regional demand estimation and forecast
Product Mix Matrix
R&D Analysis
Cost-Benefit Analysis
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Competitive Analysis
Mergers & Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
Patent Analysis
Vendor Management

Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Biometric System market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Biometric System market and pinpoint the fundamental growth trends.

Key Companies Profiled in the Report are:

BIO-key International, NEC Corporation, Secunet Security Networks AG, HID Global Corporation, FUJITSU, Cognitec Systems GmbH, Thales, Precise Group, Aware Inc., Siemens, SUPREMA and IrisGuard Ltd

Key Parameters Analyzed in This Section:

Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels

Regional Segmentation:

North America
Latin America
Europe
Middle East & Africa
Asia Pacific

Key Points Covered in This Section:

Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate

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Some Key Highlights in the Report

On 7 July 2021, Thales announced the launch of a new voice biometric solution as a part of Thales Trusted Digital Identity Service Platform. The launch is expected to meet demand of mobile operator call centers to fight identity fraud whilst providing a seamless customer experience.
The software segment revenue is expected to register a fast growth rate over the forecast period. Biometrics has generated a lot of attention owing to the growing demand for strong encryption services to reduce fraud and malicious attacks. Software solutions are essential for assuring biometric device interoperability and compatibility. The use of cloud-based services and AI for biometric devices is expected to increase demand for related software to assure device and operating system compatibility for various applications.
The non-contact-based segment accounted for a significantly larger revenue share in 2021. The industry is growing owing to the increase in demand for smartphones with face recognition software to improve security. In addition, the integration of digital disruptive technologies such as AI and automation has boosted the demand for contactless biometric solutions. Furthermore, increased worries about the spread of coronavirus through contact-based biometric solutions have prompted end-users to switch to contactless technologies, and this trend is expected to continue during the forecast period.
The biometric system market in Asia Pacific is expected to register fastest revenue CAGR over the forecast period. Most countries in the region are getting rid of conventional process of manual passwords, signatures, or token-based authentication, especially in the banking sector. China and India have some of the most extensive consumer bases for biometric systems, which is increasing demand for voice biometrics in these countries. Furthermore, China is a significant customer and supplier of face recognition technology since the country's law enforcement agencies, as well as other government agencies, have adopted surveillance technologies.

Market Overview:

The report bifurcates the Biometric System market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Hardware
- Software

Authentication Type Outlook (Revenue, USD Billion; 2019-2030)
- Single-Factor Authentication
- Multi-Factor Authentication

Contact Type Outlook (Revenue, USD Billion; 2019-2030)
- Contact-based
- Non-Contact-based
- Hybrid

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Additional information offered by the report:

Along with a complete overview of the global Cobots market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Cobots market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.

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