Biometric System Market Revenue Share Analysis, Market Growth Forecast, 2030

Emergen Research’s latest market research report focuses on the global Biometric System Market, and the report provides in-depth analysis of each of its major segments. Reports about the global Biometric System market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfoliosBiometric System industry projections and qualitative and quantitative assessments have been provided by the report's authors. The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global Biometric System market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East Africa. Aside from revenue growth drivers restraints, production consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.

The global biometric system market size is expected to reach USD 115.41 Billion at a revenue CAGR of 13.2% in 2030, according to latest analysis by Emergen Research. Market revenue growth of biometric systems can be attributed to rising demand and adoption of contactless biometrics systems in the healthcare industry globally. For instance, on 8 May 2020, NEC Corporation launched NeoFace Thermal Express, which is a dual-faced biometric and fever detection system for access control. The device is capable of detecting elevated body temperatures and Personal Protective Equipment (PPE) equipment such as face masks and others. Moreover, an increase in demand for high-level security in private, commercial, and public sectors is another factor driving the market revenue growth. Demand for facial and voice recognition software in security and surveillance applications has been rising significantly in the recent past owing to increasing terrorist activities and potential risks. This software is commonly used at airports for identification purposes, but deployment has also been increasing at customs and border checks, and even by police to identify and arrest individuals at protests in the very recent past.

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Recent years have seen rapid developments in the information and communication technology sector, with the industry projected to grow substantially in revenue over the next five years. ICT industry technology advancements, increasing adoption of advanced and latest devices, an increasing number of consumers using these devices, and high internet penetration worldwide are expected to drive global market revenue growth throughout the forecast period. The global market is expected to grow as a result of factors such as a growing risk of data leakage, an increasing use of advanced technologies like artificial intelligence (AI), the Internet of Things, and cloud services to manage large amounts of data, as well as a growing investment in research and development activities for developing advanced devices and solutions.

Leading companies operating across the global Biometric System market:

BIO-key International, NEC Corporation, Secunet Security Networks AG, HID Global Corporation, FUJITSU, Cognitec Systems GmbH, Thales, Precise Group, Aware Inc., Siemens, SUPREMA and IrisGuard Ltd

Research Report on the Biometric System Market Addresses the Following Key Questions:

Who are the dominant players of the Biometric System market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Biometric System market?
What are the key growth drivers and restraining factors of the Biometric System market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Biometric System market and its key segments?

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Market Overview:

The report bifurcates the Biometric System market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

- Product Type Outlook (Revenue, USD Billion; 2019-2030)
  - Hardware
  - Software
- Authentication Type Outlook (Revenue, USD Billion; 2019-2030)
  - Single-Factor Authentication
  - Multi-Factor Authentication
- Contact Type Outlook (Revenue, USD Billion; 2019-2030)
  - Contact-based
  - Non-Contact-based
  - Hybrid

Regional Landscape section of the Biometric System report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

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The various regions analyzed in the report include:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Biometric System market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

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