Dublin, Sept. 20, 2019 (GLOBE NEWSWIRE) -- The "Biometrics Technologies Market to 2027 - Global Analysis and Forecasts by Retail Type; Shopping Type; Carrier Type" report has been added to ResearchAndMarkets.com's offering.
The global biometrics technologies market accounted for US$ 14.6 Bn in 2018 and is expected to grow at a CAGR of 16.2% over the forecast period 2019-2027, to account for US$ 55.42 Bn by 2027.
Presently, the implementation of biometrics systems is gaining momentum in almost every geography across the globe. The global biometrics technologies market is led by the Asia Pacific region as the biometric deployments for air passenger identification in the region are growing at a rapid pace.
The consumer devices industry is witnessing immense growth in both developed and developing countries majorly due to advancements and smart features offered by these devices. In the current scenario, consumer devices are being used by consumers for a plethora of tasks, ranging from banking tasks to online shopping. Consumer devices such as smartphones and tablets have become an integral part of today's consumers' lives. All these devices are becoming smarter with the ongoing technological advancements and integration of advanced technologies such as artificial intelligence (AI) and internet of things (IoT).
In addition to all these factors, the market for consumer devices is continuously growing, owing to the fact that manufacturers are regularly coming up with advanced technologies and features such as biometric authentication such as fingerprint, face, iris, and voice recognition. The integration of biometric authentication in smartphones and other devices by large companies such as Google, Apple, Huawei, and Samsung is driving the demand for biometric sensors at an impressive rate.
The global market for biometrics technologies is growing at an exponential rate due to increasing penetration of biometric-enabled consumer devices such as smartphones, tablets, speakers, etc. among consumers worldwide. With the rising demand for digital services such as mobile banking, digital payments, and mobile wallets, the demand for advanced user authentication is growing at a fast pace to ensure security and convenience for customers.
The introduction of biometric capabilities in consumer devices have revolutionized user identification and credentialing in sectors such as banking and finance by reducing risks of payment fraud, identity theft, and other possible frauds. These advantages of mobile biometric-based authentication are expected to drive the growth of the global biometrics technologies market during the forecast period of 2019 to 2027.
The global biometrics technologies market is segmented on technology and application. Based on the technology, the biometrics technologies market is segmented into fingerprint recognition, palm recognition, face recognition, iris recognition, voice recognition, others. Based on application, the biometrics technologies market is bifurcated into the banking and finance, government, healthcare, military & defense, consumer electronics, others. Geographically, the biometrics technologies market is fragmented into five regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
The well-established market players operating in the biometrics technologies market are Aware, Inc., BIO-key International, Inc., IDEMIA, ImageWare Systems, Inc., Fujitsu Limited, Gemalto NV, Precise Biometrics AB, NEC Corporation, Suprema Inc., and Secunet Security Networks AG.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Biometrics Technologies Market - By Technology
1.3.2 Global Biometrics Technologies Market - By Application
1.3.3 Global Biometrics Technologies Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Biometrics Technologies - Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 Biometrics Technologies Market - North America PEST Analysis
4.3.2 Biometrics Technologies Market - Europe PEST Analysis
4.3.3 Biometrics Technologies Market - Asia-Pacific PEST Analysis
4.3.4 Biometrics Technologies Market - Middle East and Africa PEST Analysis
4.3.5 Biometrics Technologies Market - South America PEST Analysis
5. Biometrics Technologies Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Implementation of Biometric Technologies for Enhanced Security & Convenience
5.1.2 Rising Demand of Biometric Enabled Consumer Devices or Mobile Biometrics
5.2 Key Market Restraints
5.2.1 Data Security and Privacy Issues Related to the Use Biometrics Technology
5.3 Key Market Opportunities
5.3.1 Rising Adoption of Biometrics Technologies in Large Scale Government Projects
5.4 Future Trends
5.4.1 Growing Popularity of Biometrics-as-a-Service (BaaS) Solutions
5.5 Impact Analysis of Drivers and Restraints
6. Biometrics Technologies Market - Global Analysis
6.1 Global Biometrics Technologies Market Overview
6.2 Global Biometrics Technologies Market Forecast and Analysis
6.3 Market Positioning - Top Five Players
7. Biometrics Technologies Market - By Technology
7.1 Overview
7.2 Biometrics Technologies Market Breakdown, By Technology, 2018 & 2027
7.3 Fingerprint Recognition
7.4 Palm Recognition
7.5 Face Recognition
7.6 Iris Recognition
7.7 Voice Recognition
7.8 Others
8. Biometrics Technologies Market - By Application
8.1 Overview
8.2 Biometrics Technologies Market Breakdown, By Application, 2018 & 2027
8.3 Banking and Finance
8.4 Government
8.5 Healthcare
8.6 Military & Defense
8.7 Consumer Electronics
8.8 Others
9. Global Biometrics Technologies Market - Geographical Analysis
9.1 Overview
9.2 North America Biometrics Technologies Market Revenue and Forecast to 2027
9.3 Europe Biometrics Technologies Market Revenue and Forecast to 2027
9.4 Asia Pacific Biometrics Technologies Market Revenue and Forecast to 2027
9.5 Middle East & Africa Biometrics Technologies Market Revenue and Forecast to 2027
9.6 South America Biometrics Technologies Market Revenue and Forecast to 2027
10. Biometrics Technologies Market - Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Biometrics Technologies Market - Company Profiles
11.1 Aware Inc.
11.2 BIO-key International Inc.
11.3 Fujitsu Limited
11.4 Gemalto N.V.
11.5 IDEMIA
11.6 ImageWare Systems Inc.
11.7 NEC Corporation
11.8 Precise Biometrics AB
11.9 Suprema Inc.
11.10 Secunet Security Networks AG
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