Global Biometrics Market Size, Share, Payment, Scan, Identify, Overview & Forecast by 2024 | IMARC Group
According to the latest report by IMARC Group titled, “Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ US$ 16.7 Billion 2018. Looking forward, the global biometrics market is expected to reach a value of US$ 37.2 Billion by 2024.
Biometrics is an umbrella term used for various technologies that allow access through biological imprinting. It is an efficient way to validate a person’s identity as it helps in mapping the physicality of a person with minimal error. Biometrics technologies include retina identification, fingerprints or thumbprints pattern match, voice recognition, and face recognition. Biometrics are extensively used across the defense, corporate, industrial and manufacturing sectors. Nowadays, they are also being used in numerous devices such as computers, laptops, smartphones and tablets.
Over the recent years, there has been a rise in the demand for improved biometrics technologies. This can be attributed to the requirement for stable, reliable and improved security services which has prompted several organizations across the globe to implement these systems. Various governments have also introduced biometric access to several internet-oriented documents like e-passport and e-visa in order to avoid and detect illegal migrations. Apart from this, biometric technologies are being increasingly used in the banking and finance sectors for preventing frauds. Moreover, the introduction of multimodal biometrics is further expected to attract a wider consumer base in the near future as it utilizes more than one behavioral or physiological characteristics. The aforementioned factors have presented the manufacturers in the market with several growth opportunities.
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Market Segmentation:
Breakup by Technology:
- Face Recognition
- Hand Geometry
- Voice Recognition
- Signature recognition
- Iris recognition
- AFIS
- Non-AFIS
- Others
Breakup by Functionality:
- Contact
- Non-contact
- Combined
Breakup by Authentication:
- Single-Factor Authentication
- Multifactor Authentication
Breakup by Component:
- Hardware
- Software
Breakup by End-User:
- Government
- Defense Services
- Banking and Finance
- Consumer Electronics
- Healthcare
- Commercial Safety and Security
- Transport/Visa/Logistics
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape
The report has also examined the competitive landscape of global biometrics market.
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Competitive Structure
- Profiles of Key Players
Want to Know More About Report with TOC & List of Figure: https://www.imarcgroup.com/biometrics-market
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