Examining Biometric System Market Growth and Size for Strategic Decision-Making

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The global biometric system market size is expected to reach USD 115.41 Billion at a revenue CAGR of 13.2% in 2030, according to latest analysis by Emergen Research. Market revenue growth of biometric systems can be attributed to rising demand and adoption of contactless biometrics systems in the healthcare industry globally. For instance, on 8 May 2020, NEC Corporation launched NeoFace Thermal Express, which is a dual-faced biometric and fever detection system for access control. The device is capable of detecting elevated body temperatures and Personal Protective Equipment (PPE) equipment such as face masks and others. Moreover, an increase in demand for high-level security in private, commercial, and public sectors is another factor driving the market revenue growth. Demand for facial and voice recognition software in security and surveillance applications has been rising significantly in the recent past owing to increasing terrorist activities and potential risks. This software is commonly used at airports for identification purposes, but deployment has also been increasing at customs and border checks, and even by police to identify and arrest individuals at protests in the very recent past.

This market intelligence assessment report weighs up on the potential region that reserves greater opportunities for this industry. Importantly, subject matter experts have taken into account every critical aspect right from the market size, share, and growth to the dramatic shift in the consumer behaviour and their growing spending capacity. The industry assessment study depicts a perfectly clear picture of both the past and the future trends to offer the stakeholders, business owners, and marketing executives an opportunity to zero in on an effective marketing strategy and boost sales.

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Competitive Terrain:

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Biometric System market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

The leading market contenders listed in the report are:

BIO-key International, NEC Corporation, Secunet Security Networks AG, HID Global Corporation, FUJITSU, Cognitec Systems GmbH, Thales, Precise Group, Aware Inc., Siemens, SUPREMA and IrisGuard Ltd

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Emergen Research has segmented the global Biometric System market on the basis of type, application, end-use, and region:

Segments Covered in this report are:

Product Type Outlook (Revenue, USD Billion; 2019-2030)
Hardware
Software
Authentication Type Outlook (Revenue, USD Billion; 2019-2030)
Single-Factor Authentication
Multi-Factor Authentication
Contact Type Outlook (Revenue, USD Billion; 2019-2030)
Contact-based
Non-Contact-based
Hybrid
The various regions analyzed in the report include:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:

Analysis and estimation of the Biometric System Market size and share for the projected period of 2022-2030
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Biometric System Market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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