Global $40+ Billion Biometric System Market 2018-2023 - Analysis & Forecasts by by Authentication Type, Functionality, Component, Application, and Geography
DUBLIN, Aug. 13, 2018 /PRNewswire/ --
The "Biometric System Market by Authentication Type (Single-Factor and Multifactor), Functionality Type (Contact, Non-Contact, and Combined), Component (Hardware and Software), Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The biometrics system market is estimated to be worth USD 16.80 billion by 2018 and is expected to reach USD 41.80 billion by 2023, at a CAGR of 19.99% between 2018 and 2023.
Major drivers for the growth of the market are the increasing number of government initiatives to adopt biometrics; growing need for surveillance and security owing to threats of terrorist attacks; proliferation of biometric technology in application such as financial institutes, healthcare, and automotive.
Of all the major applications of biometrics systems, travel and immigration held the largest share of the biometrics system market in 2017. The increasing demand for biometrics systems in travel and immigration applications is attributed to the growing need for security across border-crossing points (BCP) as well as to the elevating implementation of biometrics system owing to increasing travel and tourism activities across BCP.
Contact functionality-based biometrics systems held the largest market share in 2017. Contact-based biometrics systems, especially fingerprint recognition systems, have been in the market for a longer period than the other 2 types. The widespread adoption and growing implementation of fingerprint recognition systems are driving the market for contact-based functionality.
Among the multifactor authentication in biometrics systems, pin with biometrics held the largest share in the biometrics system market. The systems based on both biometrics and PIN are cost-effective and use a secure method for authentication compared with other multifactor authentication systems.
The biometrics system market in RoW is expected to grow rapidly between 2018 and 2023. The market in RoW is further segmented into South America, and the Middle East and Africa, which hold a significant growth potential for the market.
In the Middle East, there is a considerable rate of adoption of biometrics in sectors such as travel and immigration, and banking and finance. The increasing travel and tourism activities,rapid airport expansion, and the government support to automate the border-crossing process across all port facilities are the major factors fueling the growth of the biometrics system market in the Middle East.
The key restraining factor for this market is the high deployment cost. Additionally, the threat of privacy and data breach is a major challenge for the market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in Biometrics System Market (2018-2023) 4.2 Face Recognition Market for Security, By Application Type 4.3 Contact-Based System Market, By Application 4.4 Market for Travel & Immigration for Single-Factor Authentication, By Type 4.5 Market in APAC, By Application 4.6 North American Biometrics System Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Number of Government Initiatives to Adopt Biometrics 5.2.1.2 Growing Need for Surveillance and Security Owing to the Threats of Terrorist Attacks 5.2.1.3 Proliferation of Biometric Technology in Applications Such as Financial Institutes, Retail, and Automotive 5.2.1.4 Increased Convenience, Secure Identity Management, and Superior Human Resource Management 5.2.2 Restraint 5.2.2.1 High Deployment Cost 5.2.3 Opportunities 5.2.3.1 Technological Upgrades and Advancements 5.2.4 Challenge 5.2.4.1 Threat of Privacy and Data Breach 5.3 Value Chain Analysis
6 Biometric System Market, By Authentication Type 6.1 Introduction 6.2 Single-Factor Authentication 6.2.1 Fingerprint Recognition 6.2.1.1 AFIS 6.2.1.2 Non-AFIS 6.2.2 IRIS Recognition 6.2.3 Palm Print Recognition 6.2.4 Face Recognition 6.2.5 Vein Recognition 6.2.6 Signature Recognition 6.2.7 Voice Recognition 6.2.8 Others 6.2.8.1 Dna Recognition 6.2.8.2 Keystroke Recognition 6.2.8.3 Gait Recognition 6.2.8.4 Otoacoustic Recognition 6.3 Multifactor Authentication 6.3.1 Smart Card With Biometrics 6.3.2 Pin With Biometrics 6.3.3 Multimodal Biometrics 6.3.3.1 Two-Factor Biometrics 6.3.3.2 Three-Factor Biometrics
7 Biometric System Market, By Component 7.1 Introduction 7.2 Hardware 7.2.1 Fingerprint Readers 7.2.2 Scanners 7.2.3 Camera 7.2.4 Others (Rfid Reader, Microphone, Speaker, Connectivity IC) 7.3 Software
8 Biometric System Market, By Functionality Type 8.1 Introduction 8.2 Contact Functionality 8.3 Noncontact Functionality 8.4 Combined Functionality
9 Biometric System Market, By Application 9.1 Introduction 9.2 Government 9.3 Military & Defense 9.4 Healthcare 9.5 Banking & Finance 9.6 Consumer Electronics 9.7 Travel & Immigration 9.8 Automotive 9.9 Security 9.9.1 Residential Security 9.9.2 Commercial Security 9.10 Others (Entertainment, Industrial, & Utility)
10 Geographic Analysis
11 Competitive Landscape 11.1 Introduction 11.2 Ranking Analysis 11.3 Competitive Scenario 11.3.1 Product Launch, Development, & Deployment 11.3.2 Expansion, Exhibition, Award, & Recognition 11.3.3 Partnership, Agreement, & Contract 11.3.4 Merger & Acquisition
12 Company Profiles 12.1 Key Players 12.1.1 Thales 12.1.2 Safran 12.1.3 NEC 12.1.4 Assa Abloy 12.1.5 Fujitsu 12.1.6 Precise Biometrics 12.1.7 Aware 12.1.8 Secunet Security Networks 12.1.9 Cross Match Technologies 12.1.10 Stanley Black & Decker 12.2 Other Key Companies 12.2.1 Cognitec Systems 12.2.2 Daon 12.2.3 Facebanx 12.2.4 Bio-Key International 12.2.5 Securiport 12.2.6 M2sys Technology 12.2.7 Suprema 12.2.8 Qualcomm 12.2.9 Fulcrum Biometrics 12.2.10 Vasco Data Security International
For more information about this report visit https://www.researchandmarkets.com/research/q3l3gw/global_40?w=5
Media Contact:
Research and Markets Laura Wood, Senior Manager [email protected]
For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-40-billion-biometric-system-market-2018-2023----analysis--forecasts-by-by-authentication-type-functionality-component-application-and-geography-300695999.html
SOURCE Research and Markets
[ Back To TMCnet.com's Homepage ]
|