According to MarkNtel Advisors’ research report titled “Global Biometric System Market Analysis, 2020”, the Biometric System market is projected to register a CAGR of around 14% during 2020-25. Intensive application of biometric in the consumer electronics, increasing trend for Bring Your Own Devices (BYOD) technology adoption at the work places, introduction of the electronic registration and verification process of government and legal documents, and modifications in the biometric system technologies such as wireless connectivity are some of the key factors diving the Global Biometrics System market.
The North America region captured the highest market share in the Global Biometric System market in 2019. The robust economies of US and Canada have led to considerable investment in activities linked to public safety. Moreover, the growing support by the governments for the deployment of biometric devices in the countries is anticipated to strongly contribute to the growth of the North America Biometric System market in the years to come.
The fingerprint recognition segment acquired a significant market share in the Global Biometric System market in 2019 due to its benefits such as easy installation and low cost Moreover, the face recognition segment is anticipated to register a rapid growth in the forthcoming period. The introduction of 3D facial recognition technology is further expected to boost the demand for face recognition biometric devices. In 2019, China adopted 3D facial recognition technology in gate of its Metro line 1 in Jinan. Moreover, Idemia announced the introduction of IDEMIA 3D Face software solution in 2019, which would utilize 3D facial recognition to unlock smartphones.
According to MarkNtel Advisors, the key players capturing a considerable market share in the Global Biometric System market include Thales, Safran, NEC, Assa Abloy, Fujitsu, Stanley Black & Decker, Jhonson Controls, etc. Companies are introducing a new range of products to gain an advantage over their competitors.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Biometric Device Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of units sold.
Q. What would be the CAGR of the Global Biometric Device Market during 2020 to 2025?
A. The market size of Global Biometric Device Market would register a CAGR of 14% during 2020-25.
Q. Which of the regions would be a bright spot for Global Biometric Device Market during 2020-2025?
A. The North America region captured the highest market share in the Global Biometric System market in 2019. The robust economy of US and Canada encourages them to invest in activities linked to public safety. Moreover, the growing support by the governments for the deployment of biometric devices in the countries is anticipated to strongly contribute to the growth of North America Biometric System market in the years to come.
Q. Does the report scope region type wise market statistics also?
A. Yes, the scope of the report encompasses detailed region wise statistics such as market size, market segmentation based on various subcategories.
Q. Who are the key players or major competitors in Global Biometric Device Market?
A. Thales, Safran, NEC, Assa Abloy, Fujitsu, Stanley Black & Decker, Jhonson Controls etc. are few of the leading players with majority market share in Global Biometric Device Market.
Q. Which type segment would emerge as an opportunity area for players in Global Biometric Device Market?
A. The fingerprint recognition segment grabbed the major share due to its easy installation and low cost as compared to other devices.
