Biometric System Market 2019 Global Industry Size, Share, Trends, Segmentation, Regional Analysis, Top Vendors, Business Growth, Latest Innovations Forecast to 2023
Global Biometric System Market, By Component (Hardware, Software), By Authentication Type (Single Factor Authentication, Multifactor Authentication), By Function, By Application (Government, Commercial, Healthcare) – Forecast 2023
Pune, India – February 28, 2019 /MarketersMedia/ —
Market Synopsis of Biometric System Market:
On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the biometric system market owing to better network infrastructure, digitization and higher technology implementation. Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the biometric system market. The implementation of software by both small and medium enterprises is increasing rapidly, especially one into logistics, travelling and immigration. the biometric system is gaining demand as organization are demanding for strong security technology and prevent unauthorized access to sensitive data. And increased research and development spending by vendors in the region is driving the biometric system market. The increasing cyber-attacks and strict compliance regulation is driving the market in the region.
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Key Players
The prominent players in the biometric system market are- SA (France), NEC Corporation (Japan), Fujitsu Ltd. (Japan), BIO-Key International, Inc. (U.S.), Precise Biometrics AB (Sweden), Secunet Security Networks AG (Germany), Thales SA (France), Aware, Inc. (U.S.), Cognitec Systems GmbH (Germany), Cross Match Technologies (U.S.), among others.
Biometric System Market Segmentation
The biometric system market has been segmented on the basis of application that includes healthcare, military and defense, BFSI, consumer electronics and others. By application segment, healthcare and travels and immigration accounts for highest market share. Biometrics system enables hospital authority by providing efficient identification system that supports fingerprint, palm, vein, iris and face recognition. It offers numerous benefits to healthcare organization that includes elimination of identity fraud, reduces patient risk, enhance patient privacy and overcome issues related with cultural naming convention.
Market Research Analysis:
The Biometric System Market in North America region is growing due to high adoption of biometrics solutions by enterprise and need to improve information governance in organizations. According to the study, the biometric system market will show considerable growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of biometric system market and increasing terror attacks to directly address the security of citizens. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of biometric system software by enterprises. Developing countries such as India and China are adopting biometric system software at a large scale owing to increase population, growing crime rate and robust industrialization is boosting the market in the region. By vertical segment, BFSI and retail sector is driving the biometric system market.
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Intended Audience
Investors and consultants
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
IT Solution Providers
Original Equipment Manufacturers
Study Objectives of Biometric System Market:
To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the biometric system market.
To provide insights about factors affecting the market growth.
To analyze the biometric system market based porter s five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment on the basis of component, authentication type, function and application.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the biometric system
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Source: MarketersMedia
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