The global biometrics
technology market is expected to reach USD 59.31 billion by 2025,
according to a new study by Grand View Research, Inc. The increasing demand for
biometrics technology across various applications is expected to favor the
market growth over the next nine years. Biometrics technology is used by
several verticals in private, public, and commercial sectors to overcome
security threats. This is expected to fuel the market demand over the forecast
period.
The increasing use of biometrics technology in
consumer electronics, to enhance customer experiences, is expected to drive the
market over the coming years. Implementation of biometrics technology for
e-commerce applications may enable secure transactions and provide new
opportunities to the market. High initial investments may hinder the industry
growth over the forecast period.
The biometrics technology is extensively used for
e-passport programs and to counter illegal migrations. Government and defense
services are further expected to witness high growth over the forecast period.
Biometrics technology can be used in banking and finance to increase efficiency
and prevent frauds enabling the industry to grow at a significant rate over the
next nine years.
Browse full research report on Biometrics Technology Market: https://www.grandviewresearch.com/industry-analysis/biometrics-industry
Further
key findings from the study suggest:
- Transport/logistics emerged as a dominant end-use segment in 2015
and accounted for over 27% of the biometrics technology market in the same
year
- Non-AFIS was estimated to be a considerable application segment in
2015 and accounted for over 38% of the overall industry revenue
- The Non-AFIS technology is used in various enterprises to enable
authorized access, owing to its accuracy and efficiency. AFIS application
is also expected to grow at a significant rate, owing to its use in
fingerprint and palm identification for many civil applications
- North America was estimated to be the largest regional market in
2015 and is expected to grow at a considerable rate over the forecast
period
- Biometrics technologies are used in various departments in the
U.S., owing to their strict security standards. The Asia Pacific region is
also expected to contribute, significantly, to the industry growth with
the increasing use of the technology in countries such as India, China,
and Indonesia
- The key market participants include NEC Corporation, Fujitsu
Limited, Precise Biometrics AB, 3M Cogent, FaceFirst, and Hitachi
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/electronic-security-systems-and-devices
Grand
View Research has segmented the global biometrics technology market based on
end-use, application, and region:
Biometrics
Technology End-Use Outlook (Revenue, USD Million; 2014 - 2025)
- Government
- Banking and
Finance
- Consumer
Electronics
- Healthcare
- Transport/Logistics
- Defense &
Security
- Others
Biometrics
Technology Application Outlook (Revenue, USD Million; 2014 - 2025)
- Face
- Hand Geometry
- Voice
- Signature
- Iris
- AFIS
- Non-AFIS
- Others
Biometrics
Technology Regional Outlook (Revenue, USD Million,2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle
East & Africa
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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