The biometrics authentication and identification market is growing steadily owing to the global security and safety concerns faced in the present day. The global biometric ecosystem has been supportive in addressing security and authenticity issues of the industry through timely, accurate and convenient deployment of biometric measures.
The development in the market is accredited to the enormous demand of stringent security protocols, security breaches, IoT landscape, speed of security clearance, ease of use, secure and robust systems against potential attackers among others. By virtue of this development, government (law enforcement, border security, id issuance and homeland security), enterprises, banking and financial institutions, commercial and other bodies have adopted biometric products to ensure overall protection and shelter to the population from any impeding global crisis.
The increasing proliferation of smartphones, popularity of wearable technology, increasing adoption of biometric products and availability of a diverse range of biometric solutions are expected to keep driving the industry despite the financial, technological and security challenges impeding the ecosystem in several key market regions. Therefore, the global market estimation and forecast has been initiated with an exhaustive set of assumptions, following which market size information for both key geographical areas and key biometric modalities, applications, and platforms have been provided.
The report on ‘Global Biometrics Authentication and Identification: Analysis and Forecast, 2016-2022’ is a meticulous compilation of the various facets of the biometrics market including a thorough analysis of the different modes of biometric products mapped across different applications and geographical regions. The Porter’s Five Forces analysis, value chain analysis, and key developments have also been included in the report to understand the overall attractiveness of the industry.
The report deals with all the driving factors, challenges, and opportunities with respect to the global biometric authentication and identification market, which are helpful in identifying trends and key success factors for the industry. The market values form a quintessential part of the report; herein the revenue generated from various systems and services provided in the biometric industry is tracked in order to calculate the market size. The study additionally presents a detailed analysis of the key push and pull forces prevailing in the global biometrics market and the estimation and forecast for market size over the time period, 2015 to 2022.
While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the biometric systems. It also includes the key participants involved in the industry at the relevant sections. This report also focuses on the investments done in the biometric market based on business segments and geographical regions by the market participants.
The report answers the following questions about the global biometric authentication and identification market: - What are the key factors driving the market and how will the impact change through the forecast period?
- What are the major factors challenging the growth of global biometrics authentication market and how can they be addressed through the forecast period?
- How will the market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
- What kind of new strategies are being adopted by existing market players to position themselves better in the biometrics industry?
- How will the competitive rivalry evolve through the forecast period?
- Which factors will affect the growth of the biometrics market for individual biometric systems such as face recognition, palm vein recognition, fingerprint recognition, iris recognition and others during the forecast period?
- Which factors will affect the growth of the biometrics market for different application areas like government, banking & financial institutions, healthcare, enterprise and others during the forecast period?
- Which factors will affect the growth of the biometrics market for platforms such as fixed and mobile during the forecast period?
- Which region will dominate the global market by the end of the forecast period?
The report puts special emphasis on the market share of the services provided in global biometric market, owing to the changing paradigms in the industry. In spite of this, due to the instances of failures in integration of biometric technologies and financial pressurein deployment of biometric solutions, a majority of companiesare adopting biometric services.
Further, the report provides an exhaustive study of the global biometric authentication & identification market and the trends across geographical regions such as North America, Europe, APAC, and Rest of the World. The company profile section has been broken down into the publically traded companies and private companies. While the global companies have been chosen on the basis of their market developments and revenue generation, best-selling biometric brands/companies have also been profiled in the report. Some of the established technology players in biometric market are Apple, Synaptics Inc., 3M Cogent, Aware, HID Global, M2SYS, Precise Biometrics, Bio-Key International Inc., Applied Recognition, NEC Corporation and Tyco International etc.
Executive Summary Biometric based systems have been able to pull the attention of national and global industrial ecosystem. Biometric Authentication as a technology is being widely touted as an integral component of safety protocol across private and government organizations. It is considered to be one of the most viable deterrent to people with malevolent intentions. It has helped to identify known suspects traversing crowded security areas such as airports, railway stations and others. Further, multiple terror attacks have been prevented using the innovations in this physical security form.
The biometrics authentication and identification market is growing steadily owing to the global security and safety concern faced in the present day. As such government (law enforcement, border security, id issuance and homeland security),healthcare, enterprises, banking and financial institutions, commercial and other bodies have adopted these applications to ensure overall protection and shelter to the population from any impeding global crisis.
The biometric devices capture both physiological and behavioral aspects of human beings. The range if biometric products include fingerprint scanners, facial recognition devices, vein pattern scanners, iris and retina scanners, voice modulation devices, and multimodal devices among others. The integration of biometrics devices in wearable products, increasing adoption of multilayer authentication, and rise of portable biometrics devices are the key factors that are driving the market. The global biometrics authentication and identification market is expanding and exploring new avenues where it can be implemented and integrated with existing systems.
With associated advantages of multi-level security, convenience and advanced quality, the global biometric market value is anticipated to grow from $XX billion in 2015 to $XX billion in 2022 at an estimated CAGR of XX from 2015 to 2022. The commercial application segment is expected to grow at a CAGR of XX from 2015 to 2022 as the demand for biometrics integrated smartphones, tablets, and wearable devices is increasing. Also, the mobile devices are being more popular as compared to fixed biometrics devices as they are more convenient to use and carry and are predicted to grow at a CAGR of XX during the forecast period.
The commercial application segment is expected to grow at a CAGR of XX from 2015 to 2022 as the demand for biometrics integrated smartphones, tablets, and wearable devices is increasing. Also, the mobile devices are being more popular as compared to fixed biometrics devices as they are more convenient to use and carry and are predicted to grow at a CAGR of XX during the forecast period.
North America accounted for highest share in global biometric market with growth in net revenue throughout the forecast period. North America is expected to grow at a CAGR of XX to become a XX billion market by 2022. Rest of the World will under-go a fast growth of XX throughout the forecast period to reach a value of XX billion by 2022.
With the evolution of next generation devices, the cost of biometric products is expected to decline substantially due to the technological advancement and increasing number of product launches and developments, the market will witness a gradual decrease in the cost of such products. Also the devices have improved to a better acceptance rate among the end-user. Further advancement is expected in the design of these devices as more established technology players such as Apple, Synaptics Inc., 3M Cogent,Aware, HID Global, M2SYS, Precise Biometrics, Bio-Key International Inc.,NEC Corporationand Tyco International etc. launch their product in the market.
Biometrics has a huge potential market since it is one of the fastest growing markets globally, progressing with rapid integration of technology and electronics devices such as wearable products and consumer electronics among others. The government of most countries are implementing laws and encouraging heavy investments in major research and development projects to support advanced innovations in biometrics market. As the future of prominent industries becomes increasingly coupled with biometric technology, it has given impetus to investors to direct more funds towards financing more global biometrics authentication and identification initiatives.
Countries Covered North America, Europe, APAC, and Rest of the World.
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