Kings Research has recently published its report on the global Biometrics Market, which finds that the market revenue is expected to reach USD 31.24 Billion by 2030 from USD 8.84 Billion, with a remarkable 15.06% CAGR over the forecast period from 2023 to 2030.
This comprehensive research study on the global Biometrics market gives detailed insights into the sector, offering a detailed analysis of market trends, prominent drivers, and future growth prospects. In order to make wise business decisions, it gives readers an extensive understanding of the market environment. Furthermore, the report covers several aspects, such as estimated market sizing, strategies employed by leading companies, restraining factors, and challenges faced by market participants.
Biometrics Market Definition-
Biometrics refers to the measurement and analysis of unique physical characteristics that can be used for identification or authentication. This includes the use of biometric features such as fingerprints, facial features, iris patterns, voice patterns, or behavioural patterns such as writing rhythms or gait analysis. Biometrics is a secure and reliable method of identity verification and is widely used in various industries and applications, including access control, financial transactions, border control, and law enforcement. Biometric authentication offers convenience and a smooth user experience. Using its biometric features, such as fingerprints or face scanning, users can authenticate themselves quickly and easily, reducing the hassle of managing multiple credentials. Biometric keys are used to encrypt the data, and the data can only be decrypted by an authorized user with the corresponding biometric characteristics.
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Market Forecast and Trends-
The report's precise market forecasts and identification of emerging trends will allow readers to foresee the industry’s future and outline their tactics for the following years accordingly. Understanding market trends can help in gaining a competitive edge and staying ahead in a fast-paced business environment.
The Global Biometrics Market is divided into the following segments:
By Authentication Type
- Single-Factor Authentication (SFA)
- Multi-Factor Authentication (MFA)
By Component
- Hardware
- Software
By Functionality
- Contact Based
- Non-Contact Based
- Combined
By Technology
- Face Recognition
- Voice Recognition
- Signature Recognition
- Iris Recognition
- Fingerprint Recognition
- Hand Geometry Recognition
- Others
By Application
- Site Access Control
- Time Recording
- Mobile Application
- Workplace
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
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Regional and Segment Analysis-
The study on the global Biometrics market will aid industry participants find high-growth regions and profitable market segments through region-specific and segment-by-segment analysis. This information helps in implementing better marketing strategies and product lineups to meet the preferences and needs of various target audiences. The major regions covered in this comprehensive analysis include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Investment and Expansion Opportunities -
The research report supports strategic decision-making by revealing prospective areas for investment and business growth in the global Biometrics market. This report is a great tool for finding markets that are foreseen to grow substantially for aiding readers who want to expand into new and untapped markets or launch new products.
Competitive Analysis-
The research report comprises an in-depth competitive analysis, which profiles major market competitors and evaluates their tactics, weaknesses, and market shares. These key players employ top business strategies, such as partnerships, alliances, mergers, acquisitions, product innovations, and product development, to establish a competitive advantage. Industry participants may use this information to measure their business against rivals and develop winning strategies for distinguishing themselves in the market
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- Aware, Inc.
- Biometrics Technologies Co., Ltd.
- Cerence Inc.
- Fujitsu Limited
- Hitachi, Ltd.
- Microsoft
- Thales Group
- NEC Corporation
- BIO-key International
- Cognitec Systems GmbH
Why Buy This Report?
- Obtain an in-depth understanding of market trends and growth catalysts.
- Utilize precise market forecasts for informed decision-making.
- Outperform competitors through extensive competitive analysis.
- Identify and leverage profitable regional and segment prospects.
- Strategically plan investments and expansions in the global Biometrics
Key Developments-
In March 2023: Credence Inc. launched Credence Assistant, its next-generation AI-powered biometric engine that delivers advanced personalization and security features for mobility. Credence’s next-generation biometric solution is optimized for automotive and mobile applications, putting the user at the forefront of a frictionless user experience and delivering the highest recognition accuracy in a low-footprint embedded solution.
In November 2022: NEC Corporation launched its latest multi-modal biometric authentication solution, which represents the flagship of biometric authentication under the brand name Bio-Idiom. This new solution is the first to combine NEC's facial recognition and iris recognition, this solution enables fast and accurate authentication with a false acceptance rate of less than one in 10 billion.
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Table of Content-
1 Introduction of the global Biometrics Market
2 Executive Summary
3 Research Methodology
4 Global Biometrics Market Outlook
5 Impact of Russia-Ukraine War
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