AP NEWS
ADVERTISEMENT
Press release content from MarketersMEDIA. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from MarketersMEDIA
Press release content from MarketersMEDIA. The AP news staff was not involved in its creation.

Biometric Technology Market 2021 | Business Opportunities, Market Challenges & Global Industry Analysis

July 8, 2021 GMT

Growing adoption of biometrics systems in the BFSI sector for securing financial transactions across the globe is estimated to augment the market.

Rising concerns regarding internal and external securities are likely to drive the market during the same period. Additionally, increasing use of the technology in government and private sectors for employee identification and attendance is projected to fuel the overall demand over the coming years.

The global biometric technology market is expected to garner $10.72 billion by 2022, registering a CAGR of 19.4% during the period 2016-2022.

The physical biometric segment dominated the market with around 81% share, owing to increasing adoption of fingerprint recognition and face recognition biometric solutions across various end-user verticals, in 2015. The iris recognition segment is projected to expand at the highest CAGR of around 22%, owing to widening applications of iris recognition biometric solutions at vehicle checkpoints, airport security, and for employee identification.

ADVERTISEMENT

The banking & financial sector led the market, followed by the public sector, both collectively accounting for around 60% of the market revenue in 2015.

In the year 2015, North America was the highest revenue-generating region, owing to increasing adoption of advanced security and authentic solutions and service in the government and commercial sector. Furthermore, the region is projected to continue its dominance throughout the forecast period due to increasing need for multilevel biometric solutions and services in various end-user verticals. Europe was the second largest market, in terms of revenue generation, followed by Asia-Pacific. Major factors that boost the biometric technology market worldwide include increasing security & privacy concerns and rising standard of living.

FREE | Request Sample is Available at: https://www.alliedmarketresearch.com/request-sample/237

The global biometric technology market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA. North America generated the largest revenue in 2015, followed by Europe. Asia-Pacific is projected to expand at the highest CAGR of around 22% during the forecast period.

Profiling Key Players: 3M Company (Cogent Systems, Inc.), Fujitsu Frontech Limited, ImageWare Systems, Inc., Suprema, Inc., Safran S.A., secunet Security Networks AG, Thales S.A., BIO-key International, Inc., NEC Corporation, and Precise Biometrics.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/237

ADVERTISEMENT

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 1-800-792-5285
Website: https://www.alliedmarketresearch.com/

Video URL: https://youtu.be/ccdb3gTqhMg

Source URL: https://marketersmedia.com/biometric-technology-market-2021-business-opportunities-market-challenges-global-industry-analysis/89034551

Source: MarketersMedia

Release ID: 89034551