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Biometric System Market Major Growth Driving Factors are Technological Advancements and Upgrades

Biometric system is a technological system which requires biological data such as an individual’s face, fingerprints, iris, DNA, and typing rhythms for the identification of a person. It is used in various industries such as banking, consumer electronics, defense, government, healthcare, transport, and commercial safety and security. The global biometric system market is growing at a significant rate, due to a mounting number of government initiatives to implement biometrics and growing need for surveillance and security. Different authentication types contributed to the biometric system market size. The market has witnessed a high demand for single-factor authentication in the coming years due to easy to install, cost-effective and fast.

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On the basis of application, the biometric system market is subdivided into government, healthcare, automotive, banking & finance, travel & immigration, military & defense, consumer electronics, security, and others. Among all applications, the travel & immigration accounted the largest share in the biometric system market due to the mounting necessity for security across border-crossing points. In addition, the automotive segment is expected to grow at significant rate in the market due to escalating number of vehicle theft instances, which is boosting the vehicle manufacturers to provide their products with biometrics systems, thus enhancing the security levels for their consumers.

Growth Drivers

A mounting number of government initiatives to implement biometrics, multiplying of biometric technology in applications such as financial institutes, automotive, and retail, growing need for surveillance and security, and enhanced convenience, secure identity management, and superior human resource management are the primary growth drivers for biometric system market. In addition, technological upgrades and advancements, and exclusive and easy features of biometrics system are the major factors driving the growth of biometric system market.

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Geographic Overview

Geographically, North America the largest biometric system market due to increasing government initiatives. In addition, technological up gradation and advancement and mounting concerns of safety and security are also facilitating the growth of the North American biometric system market. Asia-Pacific is observed to witness the fastest growth in the market due to increased travel and tourism activity. In addition, mounting concerns of safety and security and escalating government projects are also up surging growth of the Asia-Pacific biometric system market.

Competitive Insight

Key players in the biometric system market are catering the demand by collaborating, and acquiring with small players and investing in technologically advanced products across the globe. In February 2018, Fujitsu launched AuthConductor Client, a collection of biometric authentication software for PCs. In addition, in September 2018 Fujitsu Limited and Fujitsu Frontech Limited mutually developed biometric-enabled cashless gambling machines for the Japan Racing Association (JRA). Thales, Fujitsu Ltd., Safran, Secunet Security Networks AG, Precise Biometrics AB, NEC Corporation, Stanley Black & Decker, and Assa Abloy are the key players offering biometric system.

Geographical Segmentation

Biometric System Market by Region

North America

  • U.S.
  • Canada

Europe

  • Germany
  • Russia
  • France
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • Egypt
  • Saudi Arabia
  • Rest of MEA

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Written by VynZ Research

VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.

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