technology news

Biometrics Market Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024

New research report on Biometrics market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Biometrics market also includes an in-depth study of the industry's competitive scenario.

High acceptance among various verticals including mobile banking and financial services owing to rising security concerns has enhanced biometrics market size. Government initiatives for biometrics implementation coupled with high deployment for criminal identification will remain the key factors driving industry demand.

Industry players focus on technological advancements and new product launches to cater to the customer requirements. Benefits offered including provision of precise and accurate validation as compared to traditional validation methods such as PINs and ID cards, are anticipated to increase the industry penetration across the globe till 2024.

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/43743

Biometrics Market size is estimated to surpass USD 50 billion by 2024; according to a new research report

Biometrics Market Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024
Biometrics Market Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/43743

Non-AFIS will account for the highest biometrics market share, surpassing USD 18 billion till 2024. This can be attributed to its high usage in various applications which include cashless vending and workforce management. Moreover, it finds use in various public areas that assure keyless entry and efficient security. Iris recognition will exhibit over 20% CAGR owing to wide integration of iris scanners mainly in smartphones.

Benefits such as unauthorized vehicle use detection, reduction of overtime expenses, and identification of billing anomalies will support the transportation & logistics segment growth from 2017 to 2024. Banking & finance applications will benefit from the rising demand from various financial institutions for precise authentication and streamlining of operations.

Increased smartphone penetration coupled with expansion of consumer electronics will favor the biometrics market share over the forecast timeframe. In addition, rising investment in military & defense due to authentication concerns is anticipated to offer high growth potential. Multimodal biometrics system is an emerging trend in public and private work space for stringent attendance recording purposes. However, high implementation cost and stored data uncertainty may hamper industry growth over the forecast timeframe.

North America biometrics market is expected to account for more than 30% share till 2024. Rising demand from government & security sector in U.S. coupled with the presence of major industry participants will escalate the industry growth. Moreover, favorable regulatory landscape in the U.S will help in fostering the industry demand. Asia Pacific is poised to grow at the highest CAGR owing to various government initiatives in the countries including China and India. National enrollment program (UIDAI Aadhar) in India, and China Resident Identity Card (CRIC) are among the implementation examples across the region.

Global industry share is highly fragmented with various participants across the globe. BIO Key International, David Link, EyeVerfiy, Iris ID, and NEC Corporation are among the prominent players in the biometrics market. Other notable players include Lockheed Martin, Green Bit Biometric Systems, FaceFirst, ZKTeco, and 3M Cogent.

Major Highlights from Table of contents are listed below for quick lookup into Biometrics Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Biometrics Market
  • Product trends
  • Application trends

Chapter 3. Biometrics Industry Insights

  • Biometrics Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Biometrics industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Biometrics Market Technology & innovation landscape
  • Industry impact forces
  • Biometrics Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Biometrics Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Biometrics Market
  • SWOT Analysis

Request Customization on This Report @ https://www.cuereport.com/request-for-customization/43743

About the author

Market Study Report

Market Study Report, LLC. is a hub for market intelligence products and services.

We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.

If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.