Global Biometric Technology Market 2017-Industry Growth Analysis, and Forecast To 2022 – by Credence Research
According to a new market report
published by Credence Research Inc “Biometrics Technology Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the biometrics technology market is expected to reach US$ 34.5 Bn
by 2022, with its increasing adoption in both public as well as private
sectors. Governments of the countries across the world are adopting biometrics
technologies for access authorization, identification and verification, e-passport
management and national border control projects. This is the primary factor
influencing the growth of biometrics systems market. In addition, biometric
systems are increasing being used in attendance management in business
organizations, residential and commercial security applications and for online
banking transactions. Biometric technology is also increasingly used in
electronic devices and motor vehicle for access management. Rising adoption of
biometrics technology due to increasing security concerns is the key factor
expected to influence the demand for biometrics solutions throughout the
forecast period.
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Full Report At : http://www.credenceresearch.com/report/biometrics-technology-market
The
biometrics technologies are classified into face recognition, hand geometry
recognition, voice recognition, signature recognition, iris recognition,
automated fingerprints identification systems (AFIS), non-AFIS and others.
Non-AFIS systems accounted for the majority of revenue share in 2012 as they
are less expensive and convenience than other biometrics technologies. Iris
recognition systems are expected to see the fastest growth as they offer higher
level of security and stability. Hand geometry systems is also expected to see
a significant growth through the forecast period with its increasing adoption
in business organization for attendance management application
Transportation
and immigration represents the largest end use segment for biometrics
technology in 2014. Increasing deployment of security solutions at air ports
and public transportation facilities is further expected to increase the demand
for biometric solutions from this segment. In addition, significant demand for
biometric technologies is expected from banking and finance and government
sector with rising fraud and security concerns in these sectors.
Asia
pacific expected to see the fastest growth with increasing adoption of
biometrics technologies particularly in India and China. North America
accounted for the largest revenue share followed by Europe in 2014. In North
America and Europe, banking and financial industry represents a lucrative
market segment for biometrics technology. The global biometrics industry is
concentrate with large number of multinational players. Some major players in
this industry include Morpho SA (Safran), NEC Corporation, 3M Cogent, BIO-Key
International, Inc., Fujitsu Limited and Siemens AG
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