The global biometrics technology market is expected to reach USD 59.31
billion by 2025, according to a new study by Grand View Research, Inc. The
increasing demand for biometrics technology across various applications is
expected to favor the market growth over the next nine years. Biometrics
technology is used by several verticals in private, public, and commercial
sectors to overcome security threats. This is expected to fuel the market
demand over the forecast period.
The increasing use of biometrics technology in consumer electronics, to
enhance customer experiences, is expected to drive the market over the coming
years. Implementation of biometrics technology for e-commerce applications may
enable secure transactions and provide new opportunities to the market. High
initial investments may hinder the industry growth over the forecast period.
The biometrics technology is extensively used for e-passport programs
and to counter illegal migrations. Government and defense services are further
expected to witness high growth over the forecast period. Biometrics technology
can be used in banking and finance to increase efficiency and prevent frauds
enabling the industry to grow at a significant rate over the next nine years.
Full Research
Report On Biometrics Technology Market Analysis:
http://www.grandviewresearch.com/industry-analysis/biometrics-industry
http://www.grandviewresearch.com/industry-analysis/biometrics-industry
Further key findings from the study suggest:
·
Transport/logistics emerged as a dominant
end-use segment in 2015 and accounted for over 27% of the biometrics technology
market in the same year
·
Non-AFIS was estimated to be a considerable
application segment in 2015 and accounted for over 38% of the overall industry
revenue
·
The Non-AFIS technology is used in various
enterprises to enable authorized access, owing to its accuracy and efficiency.
AFIS application is also expected to grow at a significant rate, owing to its
use in fingerprint and palm identification for many civil applications
·
North America was estimated to be the
largest regional market in 2015 and is expected to grow at a considerable rate
over the forecast period
·
Biometrics technologies are used in various
departments in the U.S., owing to their strict security standards. The Asia
Pacific region is also expected to contribute, significantly, to the industry
growth with the increasing use of the technology in countries such as India,
China, and Indonesia
·
The key market participants include NEC
Corporation, Fujitsu Limited, Precise Biometrics AB, 3M Cogent, FaceFirst, and
Hitachi
View More Reports of This Category by Grand
View Research At: https://www.grandviewresearch.com/industry/electronic-security-systems-and-devices
Grand View Research has segmented the global biometrics technology
market based on end-use, application, and region:
Biometrics Technology End-Use
Outlook (Revenue, USD Million; 2014 - 2025)
·
Government
·
Banking and Finance
·
Consumer Electronics
·
Healthcare
·
Transport/Logistics
·
Defense & Security
·
Others
Biometrics Technology
Application Outlook (Revenue, USD Million; 2014 - 2025)
·
Face
·
Hand Geometry
·
Voice
·
Signature
·
Iris
·
AFIS
·
Non-AFIS
·
Others
Biometrics Technology
Regional Outlook (Revenue, USD Million,2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o Japan
o India
·
Latin America
o Brazil
·
The Middle East & Africa
Access Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-biometrics-technology-market
https://www.grandviewresearch.com/press-release/global-biometrics-technology-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/