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Global Biometrics Market, Forecast to 2024

Global Biometrics Market, Forecast to 2024

eGovernance, Mobile Biometrics and eCommerce Drive the Ubiquity of Biometrics in Commercial and Government Applications

RELEASE DATE
31-Dec-2019
REGION
North America
Deliverable Type
Market Research
Research Code: K1C5-01-00-00-00
SKU: ES01138-NA-MR_23961
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$4,950.00
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ES01138-NA-MR_23961
$4,950.00
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Description

The global biometrics market is at a high growth stage due to the ubiquity of dominant biometric modalities such as fingerprint and facial recognition. The deployment of biometrics is increasingly pervasive in both governmental and commercial sectors because of ease of use and the high degree of convenience offered by the technology. Key applications are in identification, verification and authentication for enhanced security, but the usability of the technology is enabling its integration to support new business models and drive customer convenience in commercial segments.

The government biometrics segment dominates the overall market in terms of revenue and applicability. The rise of e-governance in less mature regions such as countries in Asia-Pacific (APAC) and Latin America is creating new demand for biometrics. In addition, the strong focus on border security and law enforcement is driving revenue streams for biometrics in mature markets. Similarly, commercial applications are burgeoning owing to the ubiquitous mobile biometrics that is enabling biometric authentication for multiple digital applications such as online payments and logical access controls.

Among regions, APAC remains a key market due to the high influence of the digital trend and greater customer acceptance of biometrics solutions. eCommerce and online retail are opening new avenues for biometric deployments across the region, with countries in other regions following suit. While stringent regulations pertaining to data privacy are causing uncertainty over biometrics, government regulations such as e-passports, digital ID, and digital licenses augur well for the technology’s deployment in public service segments among different countries.

Advanced biometric modalities such as behavioral biometrics, palm vein biometrics, 3D facial recognition and artificial intelligence based biometrics are gaining traction given the need for higher accuracy and faster response times for high-end deployments. As these deployments become more prevalent, vendors will need to focus on interoperability and deployment of the technologies for ensuring optimum usability of different modalities. Key technology vendors will need to focus on cloud and edge based authentication solutions and multimodal biometrics to enable high return on investments (RoI) for end users. Market partnerships and synergic network channels should be established to understand key end-user requirements for biometric deployments.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Market Definitions (continued)

Key Questions this Study will Answer

Market Segmentation

Market Distribution Channels

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Restraints Explained (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion by Region

Percent Revenue Forecast by Application

Revenue Forecast by Application

Revenue Forecast Discussion by Application

Revenue Discussion by Technology

Market Share Analysis

Competitive Environment

Top Competitors

Competitive Factors and Assessment

Growth Opportunity—Multimodal Biometrics

Growth Opportunity—Mobile Biometrics

Growth Opportunity—Artificial Intelligence

Growth Opportunity—Blockchain

Strategic Imperatives for Success and Growth

Mega Trend Impact on the Global Biometrics Market

Impact of Industry Mega Trends on the North American Biometrics Market

Impact of Industry Mega Trends on the North American Biometrics Market (continued)

Impact of Industry Mega Trends on the North American Biometrics Market (continued)

Government Segment—Key Findings

Market Engineering Measurements

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Government Application

Revenue Forecast Discussion by Government Application

Commercial Segment—Key Findings

Market Engineering Measurements

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Commercial Application

Revenue Forecast Discussion by Commercial Application

North America—Key Findings

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Application

Revenue Forecast by Application

Percent Revenue Forecast by Government Application

Revenue Forecast Discussion by Government Application

Percent Revenue Forecast by Commercial Application

Revenue Forecast Discussion by Commercial Application

Europe—Key Findings

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Application

Revenue Forecast by Application

Percent Revenue Forecast by Government Application

Revenue Forecast Discussion by Government Application

Percent Revenue Forecast by Commercial Application

Revenue Forecast Discussion by Commercial Application

APAC—Key Findings

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Application

Revenue Forecast by Application

Percent Revenue Forecast by Government Application

Revenue Forecast Discussion by Government Application

Percent Revenue Forecast by Commercial Application

Revenue Forecast Discussion by Commercial Application

RoW—Key Findings

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Application

Revenue Forecast by Application

Percent Revenue Forecast by Government Application

Revenue Forecast Discussion by Government Application

Percent Revenue Forecast by Commercial Application

Revenue Forecast Discussion by Commercial Application

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Companies in “Others”

List of Companies in “Others” (continued)

Partial List of Companies Interviewed

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

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The global biometrics market is at a high growth stage due to the ubiquity of dominant biometric modalities such as fingerprint and facial recognition. The deployment of biometrics is increasingly pervasive in both governmental and commercial sectors because of ease of use and the high degree of convenience offered by the technology. Key applications are in identification, verification and authentication for enhanced security, but the usability of the technology is enabling its integration to support new business models and drive customer convenience in commercial segments. The government biometrics segment dominates the overall market in terms of revenue and applicability. The rise of e-governance in less mature regions such as countries in Asia-Pacific (APAC) and Latin America is creating new demand for biometrics. In addition, the strong focus on border security and law enforcement is driving revenue streams for biometrics in mature markets. Similarly, commercial applications are burgeoning owing to the ubiquitous mobile biometrics that is enabling biometric authentication for multiple digital applications such as online payments and logical access controls. Among regions, APAC remains a key market due to the high influence of the digital trend and greater customer acceptance of biometrics solutions. eCommerce and online retail are opening new avenues for biometric deployments across the region, with countries in other regions following suit. While stringent regulations pertaining to data privacy are causing uncertainty over biometrics, government regulations such as e-passports, digital ID, and digital licenses augur well for the technology’s deployment in public service segments among different countries. Advanced biometric modalities such as behavioral biometrics, palm vein biometrics, 3D facial recognition and artificial intelligence based biometrics are gaining traction given the need for higher accuracy and faster response times for high-end deployments. As these deployments become more prevalent, vendors will need to focus on interoperability and deployment of the technologies for ensuring optimum usability of different modalities. Key technology vendors will need to focus on cloud and edge based authentication solutions and multimodal biometrics to enable high return on investments (RoI) for end users. Market partnerships and synergic network channels should be established to understand key end-user requirements for biometric deployments.
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Ram Ravi
Industries Electronics and Sensors
WIP Number K1C5-01-00-00-00
Is Prebook No
GPS Codes 9868-A3,9201-A3,9592,99F3-A3