Goldstein Market
Date of publication: 26 March 2020
Global Biometric Market is Expected to Garner $ 10.78 by 2024
Asia-Pacific biometric market is projected to reach USD 10.78 billion in 2024, growing at a CAGR of 19.0% during the forecast period through 2024.
According to market study conducted by Goldstein Research, High degree of accuracy and security provided by biometric system is boosting the adoption rate on a large scale and thereby accelerating the growth of global biometric market.” Asia Pacific region has witnessed strong growth in terms of investment; however rapidly growing smartphone market in the region is expected to be the major factor behind the strong growth of biometric market in the region. Asia-Pacific biometric market is projected to reach USD 10.78 billion in 2024, growing at a CAGR of 19.0% during the forecast period through 2024.

Market Segmentation

Global Biometric Market is segmented on the following basis:

Based on Biometric Technology

  • Fingerprint Recognition Technology
  • Iris Recognition
  • Facial Recognition     
  • Hand Geometry Recognition
  • Vein Recognition
  • Signature recognition
  • Voice Recognition

Based on Biometric for End-User

  • Consumer Electronics
  • Law Enforcement & Government
  • Aerospace & Defense
  • Banking & Financial Services
  • Commercial & Retail Sectors
  • Travel & Immigration
  • Healthcare

Based on Geography

  • North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  •  Latin America (Brazil, Mexico, Argentina & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  •  Rest of World {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
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Among these segments fingerprint recognition technology is the most commonly used as biometric systems owing to its low cost and easy installation feature. Reliable and stable security features of fingerprint recognition technology are promoting its adoption in end-user sectors such as government, banking, and other. Fingerprint recognition technology segment occupied 43% share of global biometric market in 2016 and is expected to dominate the market over the forecast period.
 “Global Biometric Market Outlook 2024” by Goldstein Research contains detailed overview of the global biometric market in terms of market segmentation by technology and by end-user.
Further, Biometric market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global biometric market report also provides competitive outlook of some of the major players of global biometric market which includes profiling of companies such as NEC Corporation, 3M Company, Precise Biometrics AB, Hitachi, Morpho, Fujitsu Limited, Smartmatic, Suprema, Apple Inc., BIO-Key International, Inc., Thales SA, Daon, Inc, Secunet Security Networks AG, Safran SA, Fulcrum Biometrics, Facebanx, Cognitec Systems GmbH, Cross Match Technologies, HID Global, Sonavation, Olea Sensor Networks, Synaptics Incorporated, Next Biometrics, Egis Technology Inc. and Atmel Corporation. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global biometric market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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