Market size – USD 33.26 billion in 2019, market growth – CAGR of 14.6%
— Emerging research
VANCOUER, BC, CANADA, June 9, 2022 /EINPresswire.com/ — The Global Biometrics Market is expected to be worth $99.63 billion by 2027, according to current analysis by Emergen Research. Major factors influencing the market include increasing usage of facial recognition, fingerprint scans, iris recognition and vein pattern recognition in smartphones and other IoT devices due to its personal identification more accurate, the reduced risk of security breaches and the enormous overall growth of the IoT. appliance industry. The report considers COVID-19 as a key contributor to the dynamically altered market scenario. The report covers a comprehensive analysis of the impact of the global health crisis on the overall market growth. Additionally, the report covers the current and future impact of the COVID-19 crisis on the market and its key segments.
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The Global Biometrics report is a panoramic survey of the overall Biometrics market published by Reports and Data and covers an in-depth analysis of technological advancements and product developments in the Biometrics market. The report provides a detailed analysis of key biometrics market factors that are expected to positively impact the growth of the biometrics industry.
Some key highlights:-
In April 2020, TECH5, a leading global technology company, launched a biometric eKYC rollout for its users in Indian Country, after partnering with ID R&D. Biometrics includes biometric facial recognition and active alertness detection technology.
Fingerprint recognition sub-segment led the market in 2019 with heavy usage of fingerprint sensors and recognition systems in smartphones and other IoT devices, ATMs and many others. The higher research and development costs associated with this sub-segment are also expected to contribute to the growth of the biometrics market.
The global biometrics market landscape is expected to remain in a highly competitive and highly fragmented landscape comprised of a number of small start-ups, mid-sized companies, and large conglomerates. During the projected era, the growing demand for technological development and greater diversification of the products offered guarantee the enormous potential of innovative players.
Key benefits of the report:
Complete analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s five forces analysis
8-year in-depth analysis of the global biometrics market
Critical understanding of key market segments
Comprehensive analysis of drivers, constraints, trends and opportunities
Detailed regional analysis and comprehensive company profiling
In-depth assessment of current and emerging market trends
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The report is an investigative study of technological developments and product advancements, along with regional analysis for each product and application offered in the market. The fundamental objective of the report is to provide an insight into the workings of the biometrics industry. It provides an accurate and strategic view of the market with an in-depth assessment of market segments and sub-segments. It offers a panoramic view of the industry to provide a deeper understanding of the global industry.
Based on Product Type, the Biometrics Market is segmented into:
Technology Outlook (Revenue: USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue: USD Billion; 2017-2027)
Government and Defense
Health and life sciences
Retail and e-commerce
IT and Telecommunications
Banking, Financial Services and Insurance (BFSI)
Application Outlook (Revenue: USD Billion; 2017-2027)
Site access control
Web and workplace
Components Outlook (Revenue: USD Billion; 2017-2027)
System Type Outlook (Revenue: USD Billion; 2017-2027)
Single-mode biometric systems
Multimodal biometric systems
The report further studies the major companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers an overview of their market reach and global position, as well as highlights on their achievements and financial status.
Major companies operating in the biometrics market include:
Major Market Players Baxter International, Nipro, B. Braun Melsungen, DaVita Healthcare Partners, Covidien, Dialysis Clinic, Fresenius Medical Care, Diversified Specialty Institute Holdings, Medical Components, Huaren Pharmaceutical, NephroPlus, Northwest Kidney Centers, Satellite Healthcare, NxStage Medical, Renal Services, Sandor, Sichuan Kelun Pharmaceutical and US Renal Care, among others.
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The report further examines the market in key regions of the world with respect to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of leading players in the regions. The report also covers the expansion plans undertaken by the companies in the regions under the regional analysis section.
Key market regions include:
Middle East and Africa
Key questions addressed in the report:
Who are the major players in the biometrics industry?
Which region is expected to dominate the market in the coming years?
Which segment is expected to gain ground in the coming years?
What are the main strategies adopted by the main players in the market?
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Global biometrics market is expected to reach USD 99.63 billion by 2027, according to current analysis by Emergen Research