Resources
About Us
Meticulous Research® – leading global market research company published a research report titled ‘Biometric Systems Market by Offering, Biometric Type (Fingerprint Recognition, Voice Recognition), Contact Type, Authentication Type, Platform, Application, End User (Government, Military & Law Enforcement, and Other End Users)– Global Forecast to 2029’.
According to this latest publication from Meticulous Research®, the global biometric system market is expected to grow at a CAGR of12.4%% from 2022 to 2029 to reach $51.6 billion by 2029. The biometric systems market is majorly driven by the growing demand for mobile biometric devices, rising government initiatives influencing the adoption of biometric technologies, increasing use of biometric technology in consumer electronics for authentication and identification applications, and the growing need for security measures in military and law enforcement. However, the substantial costs associated with biometric systems and misconceptions and lack of knowledge pertaining to biometric systems restrain the growth of the market to some extent. The growing demand for biometric solutions in developed and developing regions worldwide is expected to offer significant growth opportunities for the biometric systems market.
To provide efficient analysis, Meticulous Research® has segmented this market based on offering (hardware and software), biometric type, (fingerprint recognition, face recognition, voice recognition, iris recognition, signature recognition, vein recognition, palm print recognition, and other biometric types), authentication type (single-factor authentication and multi-factor authentication), contact type (contact-based, contactless, and hybrid), platform (on-site, mobile devices, PCs, & wearable devices), application (digital identification, access control & authentication, security & surveillance, and other applications), end user (IT & telecom, government bodies, finance & insurance, retail, military & law enforcement, healthcare, recreation, education, transportation/warehousing, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes regional and country-level markets.
Based on offering, in 2022, the hardware segment is expected to account for the largest share of the biometric system market. The large market share of this segment is attributed to the growing demand for mobile biometric devices, increasing focus on hardware-centric security capabilities, and increasing use of biometric technology in electronic devices. In addition, the benefits associated with biometric hardware, such as accurate identification, high performance, accountability, reliability, and high security & assurance, is enhancing the growth of this segment.
Based on biometric type, in 2022, the fingerprint recognition segment is expected to account for the largest share of the biometric system market. The large market share of this segment is attributed to the growing adoption of fingerprint sensors in law enforcement and government bodies, the rising number of identity threats leading to the emergence of fingerprint technologies, and the increasing use of fingerprint sensors in smartphones and IoT devices. Furthermore, the increasing adoption of biometric-based time and attendance systems in corporate and government organizations for measuring hours of service for workers and productivity supports the growth of the fingerprint recognition market. However, the face recognition segment is expected to record the highest CAGR during the forecast period. The growing adoption of cloud-based facial recognition technology and rising technological advancements such as 3D recognition systems are expected to support the growth of this segment.
Based on platform, in 2022, the on-site segment is expected to account for the largest share of the biometric systems market. The large market share of this segment is attributed to the growing adoption of biometric technology in consumer electronics, rising demand for authentication and identification, and the rising need for surveillance & security. However, the mobile devices segment is expected to grow at the highest CAGR during the forecast period. The rising trend of mobile transactions, growing adoption of biometric features in smartphones, and the increasing use of mobile biometrics in e-commerce and online gaming are expected to support the growth of this segment.
Based on geography, in 2022, the Asia-Pacific is expected to account for the largest share of the biometric system market. The presence of prominent biometric system manufacturers, including Fujitsu Ltd. (Japan) and NEC Corporation (Japan), is expected to contribute to the high revenue share of this region due to the rapid economic growth in major countries such as China, Japan, India, and South Korea. Also, technological advancements and increased awareness among the masses regarding the use of biometric systems for security purposes are factors driving the demand for biometric systems market in the region.
Download Free Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5309
The key players operating in the biometric system market are NEC Corporation (Japan), CardLogix Corporation (U.S.), Fujitsu Limited (Japan), Thales (France), Integrated Biometrics, LLC (U.S.), Iris ID, Inc. (U.S.), Suprema Inc. (South Korea), HID Global Corporation (U.S.), Precise Biometrics (Sweden), Aware, Inc. (U.S.), Daon, Inc. (U.S.), M2SYS Technology (U.S.), BIO-key International (U.S.), Cognitec Systems GmbH (Germany), BioRugged (South Africa), DERMALOG Identification Systems GmbH (Germany), IDEMIA (France), and ImageWare Systems, Inc. (U.S.).
Key questions answered in the report-
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Healthy Buildings Market to be Worth $71.5 Billion by 2031
Read MoreGenerative AI Market to Be Worth $133.9 Billion by 2031
Read MoreIndustrial Metaverse Market to be Worth $600.6 Billion by 2031
Read MoreCloud Encryption Market to be Worth $30.2 Billion by 2031
Read MoreSmart Contracts Market to be Worth $8.7 Billion by 2031
Read MoreIPTV Market to Be Worth $145.1 Billion by 2031
Read MoreSmart Parking Market to be Worth $22.9 Billion by 2031
Read MoreEnterprise AI Market to be Worth $171.2 Billion by 2031
Read MoreOver-the-air (OTA) Market to be Worth $20.7 Billion by 2031
Read MoreRF Test Equipment Market to be Worth $5.4 Billion by 2031
Read MoreAirport Security Market to be Worth $25.27 Billion by 2031
Read MoreAI in E-commerce Market to be Worth $11.1 Billion by 2031
Read MoreFood Traceability Market to be Worth $40.05 Billion by 2031
Read MoreSatellite Imaging Market to be Worth $8.6 Billion by 2031
Read MoreIoT Sensors Market to be Worth $71.6 Billion by 2031
Read MoreSmart Airports Market to be Worth $10.16 Billion by 2030
Read MoreEdge Security Market to Be Worth $82.4 Billion by 2031
Read MoreMetaverse Market to be Worth $815.8 Billion by 2030
Read MoreNFC Market to Reach $50.1 Billion by 2030
Read MoreBiosensors Market to be Worth $43.8 Billion by 2030
Read MoreSatellite IoT Market Worth $2.48 Billion by 2031
Read MoreSocial Media Management Market to Reach $109.4 Billion by 2031
Read MoreCloud Managed Services Market Worth $247.5 Billion by 2030
Read MoreSpeech-to-text API Market to be Worth $10 Billion by 2030
Read MoreOnline Gaming Market Worth $431.87 Billion by 2030
Read MoreCybersecurity Services Market Worth $158.4 Billion by 2030
Read MoreAviation MRO Market to be Worth $92.1 Billion by 2031
Read MoreSolid State Radar Market Worth $3.3 Billion by 2030
Read MoreIndustrial Asset Management Market Worth $14.4 Billion by 2029
Read More5G IoT Market Worth $17.68 Billion by 2030
Read MoreTokenization Market Worth $13.23 Billion by 2030
Read MoreSmart Retail Market Worth $91.36 Billion by 2030
Read MoreBusiness Intelligence Market Worth $47.9 Billion by 2029
Read MoreDigital Payment Market Worth $274.61 Billion by 2029
Read MoreMobile Security Market Worth $19.5 Billion by 2029
Read MoreAI Training Dataset Market Worth $9.35 Billion by 2029
Read MorePenetration Testing Market Worth $4.05 Billion by 2029
Read MoreCloud Security Market Worth $83.03 Billion by 2029
Read MoreBlockchain in Retail Market Worth $25.8 Billion by 2029
Read MoreSmart Building Market Worth $152.93 Billion by 2029
Read MoreIoT in Manufacturing Market Worth $233.6 Billion by 2029
Read MoreSmart Factory Market to be Worth $285.7 Billion by 2031
Read MoreSpeech Analytics Market Worth $14.1 Billion by 2029
Read MoreConnected Logistics Market to be Worth $57.75 Billion by 2029
Read MoreSmart Lighting Market Worth $39.91 Billion by 2029
Read MoreSmart Lock Market Worth $5.53 Billion by 2029
Read MorePoint-of-Sale Terminal Market Worth $152.5 Billion by 2029
Read MoreRegTech Market to be Worth $32.6 Billion by 2031
Read MoreEnvironmental Sensor Market Worth $13.53 Billion by 2029
Read MoreSecurity Analytics Market Worth $43.9 Billion by 2029
Read MoreGeospatial Solutions Market Worth $845.7 Billion by 2029
Read MoreMachine Condition Monitoring Market Worth $5.2 Billion by 2029
Read More5G Technology Market Worth $241.5 Billion by 2029
Read MorePackaging Automation Market to be Worth $118.8 Billion by 2031
Read MoreTokenization Market Worth $14.3 Billion by 2029
Read MoreIndustrial Cybersecurity Market Worth $49.53 Billion by 2030
Read MoreIoT in Retail Market Worth $42.6 Billion by 2029
Read MoreBiometric System Market Worth $51.6 Billion by 2029
Read MoreMobile Computer Market Worth $3.3 Billion by 2029
Read MoreVideo Analytics Market Worth $19.3 Billion by 2029
Read MoreRFID Market Worth $32.4 Billion by 2029
Read MoreApplication Security Market Worth $5.5 Billion by 2028
Read MoreNetwork Automation Market Worth $32.4 Billion by 2028
Read MoreSmart Water Management Market to be Worth $69.60 Billion by 2030
Read MoreVideo Conferencing Market Worth $24.4 Billion by 2028
Read MoreSCADA Market to be Worth $18.7 Billion by 2031
Read MoreGeospatial Analytics Market Worth $256 Billion by 2028
Read MoreAI in Manufacturing Market to Reach $84.5 Billion by 2031
Read MoreDigital Signage Market Worth $19.44 billion by 2027
Read MoreGraph Analytics Market Worth $2.03 Billion by 2027
Read MoreSmart Cities Market to be Worth $3,967.7 Billion by 2031
Read MoreAutomotive IoT Market Worth $541.73 billion by 2025
Read MoreDigital Twin Market to Be Worth $183 Billion by 2030
Read MoreFinTech Blockchain Market Worth $36.04 billion by 2028
Read MoreE-commerce Market to be Worth $21,168.6 Billion by 2030
Read MoreBlockchain Technology Market worth $28,248.7 million by 2025
Read MoreParking Management Market to be Worth $12.3 Billion by 2031
Read MoreArtificial Intelligence in Retail Market to Reach $92.7 Billion by 2031
Read MoreAgriculture IoT Market Worth $22.6 billion by 2028
Read MoreMobile Edge Computing (MEC) Market Worth $2.8 billion by 2027
Read More