The global biometric systems market is anticipated to grow at a considerable CAGR of 12.4% during the forecast period (2024-2031). The demand for biometric systems with sensors of body temperature detection had dramatically increased during the COVID-19 pandemic as various industries and organizations across the globe have to follow COVID-19 guidelines. ZKTeco Europe, S.L had launched such products to meet this global demand. Similarly, AmpleTrails, Kintronics, Asmang, and many more companies had added such biometric systems to their product portfolio. Such innovations and contactless technology will further drive the global biometric systems market during the forecast period.
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The market players are also using inorganic expansion strategies to extend their market reach. For instance, SECOM Co. had acquired ADT Alarm Monitoring Hong Kong Ltd. in February 2021. Similarly, companies are doing sales partnering with other companies, for instance, Suprema, Inc. had partnered with DVS Ltd. in November 2020 to expand its business in the UK market.
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Market Coverage
- Segment Covered-
o By Technology
o By Function
o By Authentication Level
o By Component
o By End-user
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- BIO-key International, Fujitsu Ltd., DelaneyBiometrics – Fulcrum Biometrics, Ltd., Suprema, Inc., NEC Corp., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Biometric Systems Market Report Segment
By Technology
- Face Recognition
- Fingerprint Recognition
- Iris Recognition
- Palm Print Recognition
- Signature Recognition
- Others
By Function
- Contact-based
- Contactless
- Hybrid
By Authentication Level
- Single-factor Authentication
- Multi-level Authentication
By Function
- Hardware
- Software
By End-user
- Banking & Finance
- Home Security
- Travel & Immigration
- Military & Defense
- Healthcare
- Government
- Others
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