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The key factor driving the growth of the biometric system market is the increased usage of biometric technology in consumer electronics for identification and authentication applications. The increased attention of governments on avoiding bogus beneficiary entries and improving governance through biometrics accelerates the market growth. Additionally, the growing popularity of biometric technology in automotive applications to improve safety and security and increase in crime incidences has a further impact on the industry.

Moreover, the biometric system is widely used in consumer electronics for identification and authentication applications. Thus, the growing consumer electronic industry is anticipated to support the market growth. According to Statista, in 2019, the consumer electronics market was valued USD 951.91 billion; in 2022 the market reached USD 987.16 billion and it is anticipated to reach USD 1052.96 billion by 2025. Additionally, the increasing usage of multi-factor authentication in the BFSI, automotive, and consumer electronics industries, is presenting attractive opportunities throughout the projection period. However, heavy initial investment of Biometric Devices stifling market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Biometric System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East Africa. North America dominated the market in 2022 owing to increased demand for biometric system solutions in the information and technology industries. Also, rising adoption of biometric software systems for tracking staff attendance, identification validation, or authentication have been deployed in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to an increased usage of technology in many industries including automotive, healthcare, smart homes, and others are projected to contribute to market revenue growth. Furthermore, the Indian government has approved the deployment of the Automated Facial Recognition System (AFRS) across the country by early 2021, which allows the extraction of facial biometrics from CCTV and video and matching them with individual pictures from the National Crime Records Bureau, which is overseen by the Minister of State for Home Affairs.

Major market player included in this report are:
HID Global Corporation
Bio Key International Inc.
NEC Corporation
Thales Group
Fulcrum Biometric Inc.
Nuance Communication Inc.
Precise Biometric
Qualcomm Technology Inc.
DERMALOG Identification Systems GmbH
Daon Inc.

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Recent Developments in the Market:
In September 2022 – Daon Inc., a biometric solutions provider, made its biometric identity access management solution “Identity X” accessible on the Genesys AppFoundry platform. Customers of Genesys Cloud X benefit from increased security by integrating Identity X with the Genesys Platform.
In January 2022, Precision Biometrics, a biometric software and service provider, teamed with Infineon Technology. Precision Biometrics employs the Infineon biometry fingerprint algorithm in their Precise Bio Match product as a result of this collaboration. This method allows for autonomous driver seat adjustment in autos.

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Authentication Type, Contact Type, Technology, Mobility, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional segment scope*
The objective of the study is to define market sizes of different segments countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Authentication Type:
Multi-factor Authentication
Single Factor Authentication
By Contact Type:
Contact-Based System
Contact Less System
Hybrid
By Technology:
Face Recognition
Iris Recognition
Voice Recognition
Vein Recognition
Fingerprint Recognition
Others

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By Mobility:
Fixed
Portable
By End-user:
BFSI
Military Defense
Consumer Electronics
Travel Transport
Commercial
Smart Home
Government Public
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East Africa
Saudi Arabia
South Africa
Rest of Middle East Africa

What our market report offers

Market Overview:

• Provides a general introduction to the market, including its size, growth rate, and key characteristics.
• This section may also include information on market segmentation, such as by product type, application, or geography.

Industry Trends and Drivers:

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• It may include technological advancements, regulatory changes, consumer preferences, or economic factors that impact the industry.

Market Analysis:

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• This section may include information on market share, market concentration, and competitive strategies of key players.

Market Segmentation:

• Divides the market into distinct segments based on criteria such as product type, application, end-user, or geography.
• This analysis helps identify specific market opportunities and target audiences.

Market Size and Forecast:

• Presents the current market size and estimates future market growth over a specified period.
• -This section may include historical data, market projections, and growth rates for different segments.

Competitive Analysis:

• Assesses the competitive landscape of the market, including the profiles of major players, their market share, and strategies.
• It may also include SWOT analysis (strengths, weaknesses, opportunities, threats) of key competitors.

Market Opportunities and Challenges:

• Identifies potential growth opportunities and challenges in the market. This section may highlight emerging market segments, untapped regions, or technological advancements that can drive market expansion.
• It may also address barriers to entry, regulatory hurdles, or competitive threats.

Consumer Insights:

• Provides an understanding of consumer behavior, preferences, and buying patterns related to the market.
• This section may include survey data, consumer demographics, and customer feedback.

Future Outlook and Recommendations:

• Offers insights into the future prospects of the market and provides recommendations for businesses or stakeholders.
• This section may suggest strategies for market entry, product development, marketing, or investment decisions.

Appendix:

• Includes additional data, charts, tables, or references that support the analysis presented in the report.

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