Biometrics Market Study Report Based on Size, Shares, Opportunities, Industry Trends and Forecast to 2027

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Biometrics Market Trends – Biometric usage in smartphones, tablet, & ATM machines

VANCOUVER, BC, CANADA, February 21, 2022 /EINPresswire.com/ -- The increasing number of security breaches and extensive rise in the adoption of biometric systems in smartphones & IoT devices are the major factors influencing the market growth.

Biometrics Market Size – USD 33.26 billion in 2019, Market Growth - CAGR of 14.6%, Market Trends – Biometric usage in smartphones, tablet, & ATM machines

The Global Biometrics Market is forecasted to be worth USD 99.63 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of facial recognition, fingerprint scans, iris recognition, and vein pattern recognition in smartphones & other IoT devices owing to its more accurate personal identification, reduced risks of security breaches, and huge overall growth of the IoT device industry.

Extensive growth in the smartphone usage and higher requirement of effortless & quick biometric security in smartphone and tablet devices have been a huge impulsive factor behind the growth of this market growth. Smartphone manufacturers have been investing enormously in the research & development of a various type of biometric techniques and implementing those in the smartphones & tablets.

The global market landscape of Biometrics is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.

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Further key findings from the report suggest

In April 2020, TECH5, a leading global technology company, launched a biometric eKYC deployment for its users in the country India, having partnered with ID R&D. The biometric includes biometric facial recognition & active liveness detection technology.

The fingerprint recognition sub-segment led the market in 2019 with extensive usage of the fingerprint sensors and recognition systems in smartphones & other IoT devices, ATMs, and many others. Higher research & development costs associated with this sub-segment is also expected to add to the biometrics market growth.

The global market landscape of Biometrics is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.

For the purpose of this report, Emergen Research has segmented into the global Biometrics Market on the basis of Technology, Industry Vertical, Application, System Type, Component, and Region:

Technology Outlook (Revenue: USD Billion; 2017-2027)
Facial Recognition
Fingerprint Recognition
Voice Recognition
Palm Recognition
Iris Recognition
Others

Industry Vertical Outlook (Revenue: USD Billion; 2017-2027)
Government and Defense
Healthcare and Life Sciences
Law Enforcement
Human Resources
Retail and E-commerce
IT and Telecommunication
Banking, Financial services, and Insurance (BFSI)
Others

Applications Outlook (Revenue: USD Billion; 2017-2027)
Site Access Control
Time Recording
Mobile Application
Web and Workplace
Others

Component Outlook (Revenue: USD Billion; 2017-2027)
Hardware
Software
System Type Outlook (Revenue: USD Billion; 2017-2027)
Unimodal Biometric Systems
Multimodal Biometric Systems

Regional Outlook (Revenue: USD Billion; 2017-2027)
North America
S.
Canada
Europe
UK
Germany
France
BENELUX
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA

To know more about the report, visit @ https://www.emergenresearch.com/industry-report/biometrics-market

Leading Companies of the Biometrics Industry and Profiled in the Report are:

Key players in the market Baxter International, Nipro, B. Braun Melsungen, DaVita Healthcare Partners, Covidien, Dialysis Clinic, Fresenius Medical Care, Diversified Specialty Institute Holdings, Medical Components, Huaren Pharmaceutical, NephroPlus, Northwest Kidney Centers, Satellite Healthcare, NxStage Medical, Renal Services, Sandor, Sichuan Kelun Pharmaceutical, and U.S. Renal Care, among others.

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