Vancouver, BC -- (SBWire) -- 03/17/2021 --The Biometrics market report focuses on the economic developments and consumer spending trends across different countries for the forecast period 2020 to 2027. The research further reveals which countries and regions will have a better standing in the years to come. Apart from this, the study talks about the growth rate, market share as well as the recent developments in the Biometrics industry worldwide. Besides, the special mention of major market players adds importance to the overall market study.
The Global Biometrics Market is forecasted to be worth USD 99.63 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of facial recognition, fingerprint scans, iris recognition, and vein pattern recognition in smartphones & other IoT devices owing to its more accurate personal identification, reduced risks of security breaches, and huge overall growth of the IoT device industry.
Extensive growth in the smartphone usage and higher requirement of effortless & quick biometric security in smartphone and tablet devices have been a huge impulsive factor behind the growth of this market growth. Smartphone manufacturers have been investing enormously in the research & development of a various type of biometric techniques and implementing those in the smartphones & tablets.
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The report on global Biometrics market is intended to offer business owners, stakeholders and field marketing executives a broad overview of the business they should be focussing on for the estimated period. The research further holds vital information on the size of market and data on the prominent leaders' product owners have to compete with, in the coming years. Assessments of the broad strengths, as well as weaknesses too, add value to the overall research. Products details not only cover the popular applications and its performance, but it also unveils certain trends and value of specific products within specific regions.
Further key findings from the report suggest
In April 2020, TECH5, a leading global technology company, launched a biometric eKYC deployment for its users in the country India, having partnered with ID R&D. The biometric includes biometric facial recognition & active liveness detection technology.
The fingerprint recognition sub-segment led the market in 2019 with extensive usage of the fingerprint sensors and recognition systems in smartphones & other IoT devices, ATMs, and many others. Higher research & development costs associated with this sub-segment is also expected to add to the biometrics market growth.
The global market landscape of Biometrics is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.
Key players in the market 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 U.S. Renal Care, among others.
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Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
The study relies heavily on both qualitative and quantitative to generate, interpret and analyze raw data about the target market, product or services offered and prominent market players operating in the Biometrics market for the forecast period, 2020 - 2027.
Technology Outlook (Revenue: USD Billion; 2017-2027)
Facial Recognition
Fingerprint Recognition
Voice Recognition
Palm Recognition
Iris Recognition
Others
Industry Vertical Outlook (Revenue: USD Billion; 2017-2027)
Government and Defense
Healthcare and Life Sciences
Law Enforcement
Human Resources
Retail and E-commerce
IT and Telecommunication
Banking, Financial services, and Insurance (BFSI)
Others
Applications Outlook (Revenue: USD Billion; 2017-2027)
Site Access Control
Time Recording
Mobile Application
Web and Workplace
Others
Component Outlook (Revenue: USD Billion; 2017-2027)
Hardware
Software
System Type Outlook (Revenue: USD Billion; 2017-2027)
Unimodal Biometric Systems
Multimodal Biometric Systems
Regional Analysis Covers:
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 research methodologies used for evaluating the Biometrics market are inventive and also provides enough evidence on the demand and supply status, production capability, import and export, supply chain management and investment feasibility.
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Here are the questions we answer...
What are the future opportunities in store for the vendors operating in the Biometrics market?
What does the competitive landscape look like?
Which emerging technologies are believed to impact the Biometrics market performance?
What are the key trends and dynamics?
Which regulations that will impact the industry?
Which segment will offer the most opportunity for growth between 2020 and 2027?
Where will most developments take place in the long term?
Who are the most prominent vendors and how much market share do they occupy?
What are the latest technologies or discoveries influencing the Biometrics market growth worldwide?
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Biometrics Market Segmentation & Impact Analysis
Chapter 5. Biometrics Market By Type Insights & Trends Revenue (USD Million)
Chapter 6. Biometrics Market By Technology Insights & Trends Revenue (USD Million)
Chapter 7. Biometrics Market By Application Insights & Trends Revenue (USD Million)
Chapter 8. Biometrics Market Regional Outlook
Continued…
Biometrics Market Growth, Recent Trends, Industry Analysis, Outlook, Insights, Share and Forecasts Report 2027
The study methodologies used to examine the Biometrics market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.