Biometrics Market 2020 Future Scope and Price Analysis by 2024 
Category: #Technology  By Ronak Bora  Date: 2021-03-22
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Biometrics Market 2020 Future Scope and Price Analysis by 2024 

Robust application potential across myriad verticals including healthcare, finance, mobile devices and more is likely to foster global biometrics market expansion. Mobile banking is gaining widespread popularity among consumers, owing to its efficient security features, amidst ongoing technological progress. Furthermore, the growing use of the product for identification of criminals and favorable government reforms are key contributors to biometrics industry growth.

Biometrics involve personal authentication by means of unique genetic traits. This includes verification through voice recognition, hand geometry, fingerprint recognition and signature verification, among others. These systems are considered to demonstrate higher reliability as compared to their numeric or physical counterparts.

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Iris recognition segment is anticipated to experience double digit growth on account of large-scale integration of iris scanners into smartphones, mostly by companies like Samsung and LG. Meanwhile, the voice recognition segment is expected to register over 22% CAGR by 2024. Voice recognition technology is used across various applications such as mobile banking. The technology is gaining noteworthy traction in developed economies of North America and Western Europe. Growing need for high-end security in digital and interconnected devices could drive overall segment growth.

Transport and logistics sectors are widely using biometrics systems for vehicle tracking and safety. In transportation, each vehicle driver has a unique biometric information which gives required information to the management for performance evaluation of individuals and better decision making.

The transportation sector is projected to garner the highest market revenue share over the coming years. Advantages such as overhead reduction by excessive fuel consumption warnings, identification of billing anomalies, reduction of overtime expenses and detection of unauthorized vehicle use have encouraged to use of these systems across these sectors.

North America biometrics market is expected to register about 20% CAGR over the forecast period owing to favorable government rules and regulations.  The Next Generation Identification (NGI) Program in the U.S. focuses on utilizing palm print, facial recognition and fingerprint that gives a repository of a criminal. Growing presence of renowned industry players that are engaged is new product development initiatives may support North America biometrics market expansion.

List of the Key Companies that are Operating in the Biometrics Market. They are as follows:

3M, Bose Corporation, CeoTronics, David Clark Inc, FreeLinc Technologies Inc, INVISIO Communications, Marlborough Communications Limited, Motorola Solutions, Tactical Command Industries, Savox Communications, Sepura, Silynx Communications, TEA Headsets, Threat

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Table Of Content:

Chapter 4.   Biometrics Market, By Product

4.1.  Global biometrics market share by product, 2016 & 2024

4.2.  Face

4.2.1. Market estimates and forecast, 2013-2024

4.2.2. Market estimates and forecast, by region, 2013-2024

4.3.  Hand geometry

4.3.1. Market estimates and forecast, 2013-2024

4.3.2. Market estimates and forecast, by region, 2013-2024

4.4.  Voice

4.4.1. Market estimates and forecast, 2013-2024

4.4.2. Market estimates and forecast, by region, 2013-2024

4.5.  Signature

4.5.1. Market estimates and forecast, 2013-2024

4.5.2. Market estimates and forecast, by region, 2013-2024

4.6.  Iris

4.6.1. Market estimates and forecast, 2013-2024

4.6.2. Market estimates and forecast, by region, 2013-2024

4.7.  AFIS

4.7.1. Market estimates and forecast, 2013-2024

4.7.2. Market estimates and forecast, by region, 2013-2024

4.8.  Non-AFIS

4.8.1. Market estimates and forecast, 2013-2024

4.8.2. Market estimates and forecast, by region, 2013-2024

4.9.  Others

4.9.1. Market estimates and forecast, 2013-2024

4.9.2. Market estimates and forecast, by region, 2013-2024

Chapter 5.   Biometrics Market, By Application

5.1.  Global biometrics market share by application, 2016 & 2024

5.2.  Banking & finance

5.2.1. Market estimates and forecast, 2013-2024

5.2.2. Market estimates and forecast, by region, 2013-2024

5.3.  Defense Services

5.3.1. Market estimates and forecast, 2013-2024

5.3.2. Market estimates and forecast, by region, 2013-2024

5.4.  Government

5.4.1. Market estimates and forecast, 2013-2024

5.4.2. Market estimates and forecast, by region, 2013-2024

5.5.  Consumer electronics

5.5.1. Market estimates and forecast, 2013-2024

5.5.2. Market estimates and forecast, by region, 2013-2024

5.6.  Healthcare

5.6.1. Market estimates and forecast, 2013-2024

5.6.2. Market estimates and forecast, by region, 2013-2024

5.7.  Transport/Visa/Logistics

5.7.1. Market estimates and forecast, 2013-2024

5.7.2. Market estimates and forecast, by region, 2013-2024

5.8.  Others

5.8.1. Market estimates and forecast, 2013-2024

5.8.2. Market estimates and forecast, by region, 2013-2024

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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