Biometrics industry

Biometrics industry Forecast 2023
Biometrics industry
Report-Forecast 2023

Biometrics industry Forecast 2023
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Biometrics industry Forecast 2023
Summary
Biometric system refers to biological data used by technology to identify the person.
This systems enables organization to provide statistical analysis of physical and
behavioral characteristics of people. In short, biometric authentication states that
each individual is unique and can be identified by his or her distinct behavioral and
physical traits.
The factors driving Biometrics industry includes, unique and easy operation of
biometric system, growing terror attacks and increasing crimes are fueling the market
growth. By authentication type segment, fingerprint recognition technology accounts
for high market share in Biometrics industry. High implementation of fingerprint
recognition technology in e-passports, travel and immigration, e-visas and driving
license is fueling the Biometrics industry. According to the study, by application
segment, travel and immigration sector acquires largest market share, owing to high
adoption of biometric system in travelling and immigration industry by UK and US
region. The requirement for compliance for regulatory purpose and internal
investigation is forcing enterprises to adopt biometric system services.
Biometrics industry is segmented on the basis of authentication type that includes
single factor authentication. This is further bifurcated into fingerprint authentication,
iris recognition, palm print recognition, finger recognition and vein recognition.
Fingerprint recognition accounts for highest market share in biometric system
market owing to increased implementation of it in computers, laptops and
smartphones for security purpose. It is most commonly used in travelling and
immigration industry due to low cost, easy authentication and excellent service.
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Biometrics industry Forecast 2023
Major Key Players:
The prominent players in the Biometrics industry are- SA (France), NEC Corporation
(Japan), Fujitsu Ltd. (Japan), BIO-Key International, Inc. (U.S.), Precise Biometrics AB
(Sweden), Secunet Security Networks AG (Germany), Thales SA (France), Aware, Inc.
(U.S.), Cognitec Systems GmbH (Germany), Cross Match Technologies (U.S.), among
others.
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Biometrics industry Forecast 2023
Segmentation:
Biometrics industry for segment on the basisof component, authenticationtype,
function and application.
Biometrics industry by Component:
Hardware
• Fingerprint readers
• Scanners (Live Scanner, Palm vein scanner)
• Camera (Eye/Iris/Face/Retina camera)
• Others (Microphones, Speakers)
Software
Biometrics industry by Authentication Type:
Multi-Factor Authentication
• Biometrics combined with Smart Card Technology
• Biometrics combined with Pin Technology
• Two biometric factor authentications
• Three biometric factor authentications
Biometrics industry by Function:
• Contact
• Non-Contact
Biometrics industry by Application:
• Government
• BFSI
• Healthcare
• Military and Defense
• Consumer Electronics
• Security
• Home
• Commercial
• Travel and Immigration
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Biometrics industry Forecast 2023
Regional Analysis:
The regional analysis of Biometrics industry is being studied for region such as Asia Pacific, North
America, Europe and Rest of the World. North America region is expected to account for largest
market share in Biometrics industry owing to high implementation of biometrics system by
government and security agencies and wide adoption of fingerprint recognition by US region. Asia-
Pacific region is growing at highest CAGR rate owing to increased adoption of this system by
government in security of national heritage, airports and e-passport verification.
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