Biometric System Market 2018 Size, Share, Trend, Key Vendor Analysis and Outlook to 2023
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(EMAILWIRE.COM, August 22, 2018 ) Industry Outlook and Trend Analysis
The Biometric System Market was worth USD 9.47 billion in 2014 and is expected to reach approximately USD 37.75 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 16.61% during the forecast period. Biometric system alludes to biological information utilized by technology to identify an individual. This system empowers organizations to give factual analysis of physical and behavioural qualities of individuals. Generally, biometric authentication expresses that every individual is unique and can be distinguished by his or her particular conduct and physical traits. Biometrics authentication is utilized in computer science as a type of recognizable proof and access control. It is likewise used to distinguish people in groups that are under surveillance. Biometric identifiers are the particular, quantifiable attributes used to describe and label people. Biometric identifiers are frequently categorized as physiological versus behavioural characteristics.
Drivers and Restraints
The worldwide biometric technology market is driven by developing usage of biometric systems in the government and commercial divisions. Moreover, the expanding requirement for improved security systems in associations and utilization of e-passport &e-visas are the main factors that are quickening the market development. Nonetheless, the technology of biometrics has its own particular impediments, for example, expensive biometric devices, technological restrictions including matching accuracy with physical characteristics, image resolution, and low-quality capture device, and others and risk of security interruption. Developing multilevel biometric technology, usage of biometric in e-commerce, and cloud computing have brought about development opportunities for leading players working in the worldwide biometric market.
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Market Segmentation
The Biometric System Market is segmented on the basis of type and application. Based on type the market is segmented into Iris recognition, Hand geometry recognition, Signature recognition, Middleware recognition, Face recognition, Fingerprint recognition, Voice recognition and others. Face recognition is an adaptable technology, which is anticipated to demonstrate quick development amid the gauge time frame attributable to its high selection in law enforcement, retail and defence, and consumer electronics sectors. Iris recognition framework is a standout amongst the most preferred technology inferable from its speed of task and protection from false matches compared with other technologies. Based on application the market is segmented into Banking & financial sector, IT & telecommunication, Public sector, Healthcare and others.
Regional Outlook and Trend Analysis
North America is foreseen to represent biggest share of the overall industry in biometric systems market inferable from high execution of biometrics framework by government and security offices and wide implementation of unique mark acknowledgment by US district. Asia-Pacific region is developing at most elevated CAGR rate attributable to expanded implementation of this framework by government in security of national legacy, airplane terminals and e-passport confirmation.
Competitive Insights
The leading players in the market are 3M, NEC Corp, ImageWare Systems Inc, Bio-Key International, Suprema, Thales Group, Precise Biometrics, FUJITSU FRONTECH LTD and Safran. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Biometric System Market is segmented as follows-
By Type
Iris recognition
Hand geometry recognition
Signature recognition
Middleware recognition
Face recognition
Fingerprint recognition
Voice recognition
Others
By Application
Banking & financial sector
IT & telecommunication
Public sector
Healthcare
Others
Buy This Report@ https://www.qurateresearch.com/report/buy/ICT/QBI-CMR-ICT-54131/
The Biometric System Market was worth USD 9.47 billion in 2014 and is expected to reach approximately USD 37.75 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 16.61% during the forecast period. Biometric system alludes to biological information utilized by technology to identify an individual. This system empowers organizations to give factual analysis of physical and behavioural qualities of individuals. Generally, biometric authentication expresses that every individual is unique and can be distinguished by his or her particular conduct and physical traits. Biometrics authentication is utilized in computer science as a type of recognizable proof and access control. It is likewise used to distinguish people in groups that are under surveillance. Biometric identifiers are the particular, quantifiable attributes used to describe and label people. Biometric identifiers are frequently categorized as physiological versus behavioural characteristics.
Drivers and Restraints
The worldwide biometric technology market is driven by developing usage of biometric systems in the government and commercial divisions. Moreover, the expanding requirement for improved security systems in associations and utilization of e-passport &e-visas are the main factors that are quickening the market development. Nonetheless, the technology of biometrics has its own particular impediments, for example, expensive biometric devices, technological restrictions including matching accuracy with physical characteristics, image resolution, and low-quality capture device, and others and risk of security interruption. Developing multilevel biometric technology, usage of biometric in e-commerce, and cloud computing have brought about development opportunities for leading players working in the worldwide biometric market.
Get Sample Copy of This Report@ https://www.qurateresearch.com/report/sample/ICT/QBI-CMR-ICT-54131
Market Segmentation
The Biometric System Market is segmented on the basis of type and application. Based on type the market is segmented into Iris recognition, Hand geometry recognition, Signature recognition, Middleware recognition, Face recognition, Fingerprint recognition, Voice recognition and others. Face recognition is an adaptable technology, which is anticipated to demonstrate quick development amid the gauge time frame attributable to its high selection in law enforcement, retail and defence, and consumer electronics sectors. Iris recognition framework is a standout amongst the most preferred technology inferable from its speed of task and protection from false matches compared with other technologies. Based on application the market is segmented into Banking & financial sector, IT & telecommunication, Public sector, Healthcare and others.
Regional Outlook and Trend Analysis
North America is foreseen to represent biggest share of the overall industry in biometric systems market inferable from high execution of biometrics framework by government and security offices and wide implementation of unique mark acknowledgment by US district. Asia-Pacific region is developing at most elevated CAGR rate attributable to expanded implementation of this framework by government in security of national legacy, airplane terminals and e-passport confirmation.
Competitive Insights
The leading players in the market are 3M, NEC Corp, ImageWare Systems Inc, Bio-Key International, Suprema, Thales Group, Precise Biometrics, FUJITSU FRONTECH LTD and Safran. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Enquiry about Report@ https://www.qurateresearch.com/report/enquiry/ICT/QBI-CMR-ICT-54131
The Biometric System Market is segmented as follows-
By Type
Iris recognition
Hand geometry recognition
Signature recognition
Middleware recognition
Face recognition
Fingerprint recognition
Voice recognition
Others
By Application
Banking & financial sector
IT & telecommunication
Public sector
Healthcare
Others
Buy This Report@ https://www.qurateresearch.com/report/buy/ICT/QBI-CMR-ICT-54131/
Contact Information:
Qurate Business Intelligence
Nehal Chinoy
Tel: +919881074592
Email us
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Qurate Business Intelligence
Nehal Chinoy
Tel: +919881074592
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results