Global Biometric Technology Market Overview:
Biometric Technology is a process of authentication and verification for more convenient and secure. These solutions are used by various government agencies to prevent fraud, solve crimes, securing national borders. Fingerprint scanners are the most trending technology among all types of authentication and followed by face recognition and iris scanners. Some of the key players profiled in the study are Fujitsu (Japan), Bayometric (United States), 3M (United States), HP (United States), Toshiba (Japan), BehavioSec (United States), Hitachi (Japan), Nuance Communications (United States), Vodafone (United Kingdom) and Voice Security Systems (United States).
On the basis of geography, the market of Biometric Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Offering, the sub-segment i.e. Hardware will boost the Biometric Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Verticals, the sub-segment i.e. BFSI will boost the Biometric Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increase demand on Vertical Specialized Biometric Solutions
- High adoption from government agencies
- Increasing adoption of the immigration control system from emerging countries
- Mobile Biometric Technology
- Multimodal Biometric Authentication Systems
- Cloud-Based Biometric Solutions
- The High Cost of Deployment of Software and Hardware System
- Technology Advancement and High-Security Demand Create Huge Opportunity in Future
- The Rising Number of Data Security Concern
Major Market Developments:
In Nov 2018, Fingerprints and FEITIAN announced partnerships to the revealed contactless biometric payment card. Which has ultra-low consumption and integrated into using smartcards using standard process.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Biometric Devices Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Biometric Technology market on the basis of product [Biological (DNA, Blood), Morphological (Fingerprints, palms, Vein patterns, Face, Iris, Voice, Ear) and Behavioral (Handwritten Signatures, Keyboard Strokes)] , application [Logical Access Control, Physical Access Control, Time and Attendance, Law Enforcement and Surveillance (Overt Surveillance, Covert Surveillance, Tracking individuals on a watch list, tracking individuals)], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Biometric Technology market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Biometric Technology industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Vista Imaging Incorporated (United States), Oki Electric Industry (Japan) and OMRON Corporation (OMRON Corporation).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Biometric Technology market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.