Biometric Technology Market size is expected to garner $10.72 billion by 2027, registering a CAGR of 19% during the forecast period 2021-2027.
Biometric technology is used to identify and authenticate individuals by measuring and analyzing personal characteristics such as fingerprints, iris, hand geometry, voice, face, blood vessel pattern, palm print, or behavioral characteristics (signature, typing pattern, gait). It is a major industry forming an important part of the Biometrics market. Biometric technology offers a more advanced methodology than traditional PIN-based methods. This technology is used to protect sensitive personal data from fraudulent use of private ownership such as ATMs, smart cards, mobile phones or access to desktops, laptops, workstations or networks through a unique identification technology.
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The key players covered in this study
- 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
- Precise Biometrics
Market segment by Type, the product can be split into
- Based on physical characteristics
- Based on behavioral characteristics
Market segment by Application, split into
- Public sector
- Banking & financial sector
- Healthcare
- IT & telecommunication
- Others (hospitality, retail, automotive
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Scope of the Report
The research study analyzes the global Biometric Technology industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Biometric Technology Market Report
1. What was the Biometric Technology Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Biometric Technology Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Biometric Technology Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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