Biometrics Technology Market Get Facts About Business Strategies by 2025
Surging demand for biometrics technology across various applications is projected to favor the growth of the market over the coming years.
(firmenpresse) - The global biometrics technology market size is likely to reach USD 59.31 billion by 2025, according to a new study by Grand View Research, Inc., experiencing a CAGR of 19.5% during the forecast period. Surging demand for biometrics technology across various applications is projected to favor the growth of the market over the coming years. Biometrics technology is used by various verticals in public, private, and commercial sectors to counter security threats. This is estimated to stimulate the growth of the market over the forecast period.
Widening scope of applications of biometrics technology in consumer electronics, in order to improve customer experiences, is poised to augment the market over the same period. Incorporation of biometrics technology into e-commerce applications can enable secure transactions and unfold ample growth opportunities to the market. High initial investment cost is anticipated to hamper growth prospects.
Biometrics technology is being increasingly acknowledged for e-passport programs and to keep a check on illegal migrations. Government organizations and defense services are further expected to experience sharp rise in the demand for the technology. In addition, it is used in banking and finance to increase efficiency and to prevent frauds. This is further likely to positively influence the growth of the market.
To Request A Sample Copy Or View Summary Of This Report:
https://www.grandviewresearch.com/industry-analysis/biometrics-industry
Further key findings from the report suggest:
The transport/logistics segment emerged as the leading end-use segment in 2017 and is projected to exhibit a CAGR of 18.1% over the forecast period
The non-AFIS segment accounted for 38.1% of the overall market revenue in 2017. The technology is used in various enterprises to enable authorized access, owing to its accuracy and efficiency. AFIS applications are also poised to register a significant CAGR during the forecast period, owing to its use in fingerprint and palm identification for many civil applications
North America was the largest regional market in 2017. Biometrics technologies are used in various departments in the U.S., owing to their strict security standards
Asia Pacific is also anticipated to contribute significantly to the global market, due to increasing use of the technology in countries such as India, China, and Indonesia
The key market participants include Accu-Time Systems, Inc.; BIO-key International, Inc.; David-Link; EyeVerify, Inc.; and FaceFirst.
Grand View Research has segmented the global biometrics technology market based on application, end-use, and region
Biometrics Technology Application Outlook (Revenue, USD Million, 2014 - 2025)
Face
Hand geometry
Voice
Signature
Iris
AFIS
Non-AFIS
Others
Biometrics Technology End-use Outlook (Revenue, USD Million, 2014 - 2025)
Government
Banking and Finance
Consumer Electronics
Healthcare
Transport/Logistics
Defense & Security
Others
Biometrics Technology Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
US.
Canada
Europe
UK.
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa
Access Press Release of Biometrics Technology Market(at) 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: www.grandviewresearch.com
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Datum: 05.11.2019 - 11:04 Uhr
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