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Market Size – USD 33.26 billion in 2019, Market Growth - CAGR of 14.6%
Market Size – USD 24.40 Billion in 2021, Market Growth – at a CAGR of 15.7%,” — Emergen Research
VANCOUER, BC, CANADA, June 9, 2022 /EINPresswire.com / -- 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.The report considers COVID-19 as a key contributor of the dynamically altered market scenario. The report covers a comprehensive impact analysis of the global health crisis on the overall growth of the market. Furthermore, the report covers the current and future impact of the COVID-19 crisis on the market and its key segments.
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The Global Biometrics Report is a panoramic study of the overall Biometrics market published by Reports and Data and covers a wide-ranging analysis of the technological advancements and product developments in the Biometrics market. The report provides a detailed analysis of the key factors of the Biometrics market that are expected to have a positive impact on the growth of the Biometrics industry.
Some Key Highlights :-
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 Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter's Five Forces analysis
In-depth 8-year analysis of the Global Biometrics Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Biometrics industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Based on the product type, the Biometrics market is segmented into:
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
Others
The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Key companies operating in the Biometrics market include:
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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Regional Analysis:
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Key regions in the market include:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Questions Addressed in the Report:
Who are the leading players in the Biometrics industry?
Which region is expected to dominate the market in the coming years?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by leading players in the market?
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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The Global Biometrics Market is forecasted to be worth USD 99.63 billion by 2027, according to a current analysis by Emergen Research
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