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Market Size – USD 43.54 Billion in 2021, Market Growth – at a CAGR of 14.8 %, Market Trends – Deployment of high level of security across various sectors

VANCOUVER, BRITISH COLUMBIA, CANADA, May 10, 2023 /EINPresswire.com/ -- Global Biometrics Market Forecast to 2030

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 the latest analysis by Emergen Research. The increasing need for more convenient and fast authentication modes and the 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, the increasing need for high levels of security in the banking, finance, and defense sectors is expected to continue to drive revenue growth in the market going forward. Biometrics provides increased levels of security to providers by verifying identity using several methods, such as face recognition, voice recognition, signature recognition, iris recognition, fingerprint recognition, and hand geometry recognition, among others. Biometric authentication is a roadblock for fraudsters, allowing only authorized users access. In addition, the increasing need to minimize data breaches and reduce the chances of cyberattacks is expected to boost demand for biometric systems. Furthermore, the increasing need for biometric systems to deliver the highest level of accuracy, security, and efficiency in various processes such as access control, customer onboarding, fraud prevention, loss prevention, time and attendance, forensic investigation, background checks, border security, and government benefit provision are some other key factors expected to drive market revenue growth during the forecast period.

The biometrics market is a rapidly growing industry that encompasses a wide range of technologies and applications. Biometrics refers to the use of unique physical or behavioral characteristics to identify individuals, such as fingerprint scanning, facial recognition, voice recognition, iris scanning, and DNA analysis.

The demand for biometric solutions has increased significantly in recent years, driven by the need for enhanced security in various industries, including banking, healthcare, government, and law enforcement. Biometric systems offer a high level of security and accuracy, making them an effective tool for identifying individuals and preventing fraudulent activities.

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Key Companies Profiled in the Report:

Leidos Holdings, Inc., Gemalto N.V. (3M Cogent), NEC Corporation, Fujitsu Ltd., ImageWare Systems, Inc., BioEngagable Technologies Pvt. Ltd, Mobbeel Solutions, S.L.L., M2SYS Technology - KernellÓ Inc., SIC Biometrics, Precise Biometrics, BioID AG, IriTech, Inc., IDEMIA France SAS, Aware, Inc., and Fulcrum Biometrics, LLC

Market Dynamics:

The report offers insightful information about the market dynamics of the Biometrics market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Biometrics market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Biometrics market.

Browse Full Report Description + Research Methodology + Table of Content + Infographics , visit @ https://www.emergenresearch.com/industry-report/biometrics-market

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

Biometrics Market Segmentation:

Market Overview:

The report bifurcates the Biometrics 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:

Technology Outlook (Revenue: USD Billion; 2019-2030)

Facial Recognition

Fingerprint Recognition

Voice Recognition

Palm Recognition

Iris Recognition

Others

Industry Vertical Outlook (Revenue: USD Billion; 2019-2030)

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; 2019-2030)

Site Access Control

Time Recording

Mobile Application

Web and Workplace

Others

Regional Segmentation;

North America (U.S., Canada)

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

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)

In conclusion, the Biometrics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Biometrics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

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.

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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

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