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Increasing need for convenient, fast mode of authentication, and increasing need for easy to operate and user-friendly security systems are some key factors

VANCOUVER, BC, CANADA, August 18, 2022 /EINPresswire.com/ -- The global biometrics market size reached USD 43.54 Billion in 2021 and is expected to register a revenue CAGR of 14.8% during the forecast period, according to latest analysis by Emergen Research. Increasing need for more convenient and fast authentication mode and increasing need for easy-to-operate and user-friendly security systems are some key factors projected to support market revenue growth between 2022 and 2030. In addition, increasing need for high level of security in banking and finance and defense sectors is expected to continue to drive revenue growth of market going ahead.

The Biometrics Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Biometrics market. The report offers in-depth research and assessment of the key elements of the global Biometrics market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Biometrics market.

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Top competitors of the Biometrics Market profiled in the report include:

Fujitsu Limited, NEC Corporation, Thales SA, Assa Abloy AB, IDEMIA Identity and Security France SAS, M2SYS, Inc., DERMALOG Identification Systems GmbH, Aware, Inc., SecuGen Corporation, and BIO-Key International, Inc.

Some Key Highlights from the Report

Multi-factor authentication segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing need to reduce risks associated with key logger activity

Hardware segment is expected to register a significantly robust revenue growth rate over the forecast period, owing to increasing need to operate security systems in various organizations

Asia Pacific market is expected to account for larger revenue share due to robust presence of major market players providing biometrics solutions such as Fujitsu Limited and NEC Corporation, among others, in countries in the region

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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.

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Emergen Research has segmented global biometrics market on the basis of authentication type, component, functionality, technology, application, end-use, and region:

Authentication Type Outlook (Revenue, USD Billion; 2019–2030)

Single-Factor Authentication

Multi-Factor Authentication

Component Outlook (Revenue, USD Billion; 2019–2030)

Hardware

Software

Functionality Outlook (Revenue, USD Billion; 2019–2030)

Contact Based

Non-Contact Based

Combined

Technology Outlook (Revenue, USD Billion; 2019–2030)

Face Recognition

Voice Recognition

Signature Recognition

IRIS Recognition

Fingerprint Recognition

Hand Geometry Recognition

Others

Application Outlook (Revenue, USD Billion; 2019–2030)

Site Access Control

Time Recording

Mobile Application

Workplace

Others

The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.

Regional Segmentation Covers:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Biometrics market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Biometrics market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.

How will this Report Benefit you?

A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Biometrics market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Biometrics with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.

Key Reasons to Buy This Report:

The report presents a thorough examination of the Biometrics market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.

The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.

The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.

The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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The global biometrics market size reached USD 43.54 Billion in 2021

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