Biometric System Market by Authentication Type, Component, Function, Application, and Region - Global Forecast to 2022

  • ID: 3704646
  • Report
  • Region: Global
  • 208 Pages
  • Markets and Markets
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The Biometric System Market Size is Expected to Increase from USD 10.74 Billion in 2015 to USD 32.73 Billion by 2022 at a CAGR of 16.79% between 2016 and 2022

FEATURED COMPANIES

  • 3M Cogent, Inc
  • Cognitec Systems GmbH
  • Daon, Inc
  • Fujitsu Ltd.
  • NEC Corporation
  • Safran SA
  • MORE

"Biometric System Market by Authentication Type (Single-Factor: (Fingerprint, IRIS, Palm Print, Face, Vein, Signature, Voice), Multi-Factor), Component (Hardware and Software), Function (Contact and Non-contact), Application, and Region - Global Forecast to 2022"

The biometric system market is in the growth stage and is expected to grow further in the near future. The biometric system market is expected to be valued at USD 32.73 billion in 2022, at a CAGR of 16.79% between 2016 and 2022.  Government initiative in adoption of biometrics system, integration of biometric technology in smartphones, rising use of biometric technology in financial institutes and healthcare sectors, and increasing use of biometric systems in criminal identification are some of the major factors driving the growth of the biometric systems market, worldwide. Cost involved in deploying biometric system is the restraining factor for the biometric system market.             

Voice recognition technology is expected to grow at the highest rate because this technology is the only solution that could provide remote authentication without the need of the physical presence of a user. This technology is ideal for situations where distant verification is required, such as telephone-based transactions. Also in this technology, the real-time voice sample is compared with the voice sample stored in the database, which is considered to be less intrusive for the user. Voice recognition is considered as secured technology, and hence is suitable for critical applications in the banking and finance sector.

North America is among the most favorable end-user market for biometric systems manufacturers. The adoption of the biometric system in private and publics sectors, and the overall increased concern for the security are major driving factors for the growth of biometric system market in North America. In Asia-Pacific (APAC), technological advancing nations such as China and India hold the strongest potential for the future growth of the biometric system market. The major factors driving the growth of the biometric system market in APAC are the rising demand for biometric solutions from public sectors, increasing concerns for border security, and the untapped market in this region.

In the process of determining and verifying the market size for several segments and sub-segments, information has been gathered through secondary research, and extensive primary interviews have been conducted with key people in the biometric system market.

The break-up of the profiles of primary participants for the report has been given below:

  • By Company Type: Tier 1 - 47%, Tier 2 - 35%, and Tier 3 - 18%
  • By Designation: C-Level Executives - 30%, Directors - 54%, and Others - 16%
  • By Region: North America - 35%, Europe - 50%, Asia-Pacific - 10%, and RoW - 5%

The report profiles the key players in the biometric system market with their respective market share analysis. The prominent players profiled in this report are Safran SA (France), NEC Corporation (Japan), Fujitsu Ltd. (Japan), BIO-Key International, Inc. (U.S.), Precise Biometrics AB (Sweden), Secunet Security Networks AG (Germany), Thales SA (France), Aware, Inc. (U.S.), Cognitec Systems GmbH (Germany), Cross Match Technologies (U.S.), Fulcrum Biometrics, LLC (U.S.), Daon, Inc. (U.S.), Facebanx (U.K.), and 3M Cogent, Inc.(U.S.).

Research Coverage:

The overall biometric system market is segmented on the basis of authentication type which includes single factor and multi-factor authentication. Furthermore, the biometric system market is also segmented on the basis of - function which includes contact type and non-contact type biometric system; component which includes hardware and software required to develop the biometric system; and various applications areas. The biometric system market is also segmented in four major regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).  

Key Benefits of Buying the Report:

The report would help market leaders/new entrants in the biometric system market in the following ways:

1. This report segments the biometric system market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to have a better understanding of their competitors and gain more insights to enhance their position in the biometric system market. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and contracts and acquisitions in the biometric system market.

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FEATURED COMPANIES

  • 3M Cogent, Inc
  • Cognitec Systems GmbH
  • Daon, Inc
  • Fujitsu Ltd.
  • NEC Corporation
  • Safran SA
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency and Pricing
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Factor Analysis
2.2.1 Demand Side
2.2.1.1 Growth of Smartphone and Mobile Payments
2.2.1.2 Demand for Safety and Security in the Public and Private Sector
2.2.1.3 Growth of Internet and Multiple Password Requirements
2.2.1.4 Data Authentication and Process Standardization Requirement Within the Organizations
2.2.2 Supply Side
2.2.2.1 Improving Camera Resolution
2.2.2.2 Real Time Processing Capabilities With Hardware and Software
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Biometric System Market Opportunities
4.2 Biometric System Market, By Single Factor Authentication, 2014 - 2022 (USD Million)
4.3 Biometric System Market, By Multi-Factor Authentication, 2014 - 2022, (USD Million)
4.4 Biometric System Market, By Hardware Component (USD Million)
4.5 Geographic Snapshot of the Biometric System Market

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 Biometric System Market, By Authentication Type
5.2.2 Biometric System Market, By Function
5.2.3 Biometric System Market, By Component
5.2.4 Biometric System Market, By Application
5.2.5 Biometric System Market, By Region
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Government Initiative in Adoption of Biometrics System
5.3.1.2 Integration of Biometrics in Smartphones
5.3.1.3 Rising Use of Biometric Technology in Financial Institutes and Healthcare Sectors
5.3.1.4 Increasing Use of Biometric Systems in Criminal Identification
5.3.2 Restraints
5.3.2.1 Cost Involved in Deploying Biometric System
5.3.3 Opportunities
5.3.3.1 Use of Biometric Technology in E-Commerce
5.3.3.2 Use of Biometric Technology in Cloud Computing
5.3.4 Challenges
5.3.4.1 Security of Biometric Data
5.3.4.2 Fear of Privacy Intrusion and Inconvenience

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Industry Trends
6.4 Porter’s Five Forces Analysis
6.4.1 Threat of New Entrants
6.4.2 Threat of Substitutes
6.4.3 Bargaining Power of Suppliers
6.4.4 Bargaining Power of Buyers
6.4.5 Intensity of Competitive Rivalry

7 Market, By Authentication Type
7.1 Introduction
7.2 Single Factor Authentication
7.2.1 Fingerprint Recognition
7.2.2 Iris Recognition
7.2.3 Palm Print Recognition
7.2.4 Face Recognition
7.2.5 Vein Recognition
7.2.6 Signature Recognition
7.2.7 Voice Recognition
7.2.8 Other Biometric Technologies
7.2.8.1 Dna Recognition
7.2.8.2 Keystroke Recognition
7.2.8.3 Gait Recognition
7.3 Multi-Factor Authentication
7.3.1 Biometric Syatem Combined With Smart Card Authentication
7.3.2 Biometrics Combined With Pin Authentication
7.3.3 Multi-Modal Authentication
7.3.3.1 Two Biometric Factors Authentication
7.3.3.2 Three Biometric Factors Authentication

8 Market, By Component
8.1 Introduction
8.2 Hardware
8.2.1 Fingerprint Readers
8.2.2 Scanners
8.2.3 Camera
8.2.4 Others
8.3 Software

9 Biometric System Market, By Function Type
9.1 Introduction
9.2 Contact
9.3 Non-Contact
9.4 Others

10 Biometric System Market, By Application
10.1 Introduction
10.2 Government
10.3 Military & Defense
10.4 Healthcare
10.5 Banking & Finance
10.6 Consumer Electronics
10.7 Security
10.7.1 Home Security
10.7.2 Commericial Security
10.8 Travel & Immigration
10.9 Other Applications

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 U.K.
11.3.2 Germany
11.3.3 France
11.3.4 Italy
11.3.5 Rest of Europe
11.4 APAC
11.4.1 India
11.4.2 China
11.4.3 Japan
11.4.4 South Korea
11.4.5 Rest of APAC
11.5 Rest of the World (RoW)
11.5.1 Middle East & Africa
11.5.2 Others

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking for Biometric System Market, 2015
12.3 Market Ranking Analysis for Biometric System Market, 2015
12.4 Competitive Situations and Trends
12.4.1 Contracts & Acquisitions
12.4.2 Agreements & Partnerships
12.4.3 New Product Launch
12.4.4 Product Expansion

13 Company Profiles
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments) -
13.1 Introduction
13.2 Safran SA
13.3 NEC Corporation
13.4 Fujitsu Ltd.
13.5 Aware, Inc.
13.6 3M Cogent, Inc
13.7 Bio-Key International, Inc.
13.8 Precise Biometrics AB
13.9 Secunet Security Networks AG
13.10 Thales SA
13.11 Cognitec Systems GmbH
13.12 Cross Match Technologies
13.13 Fulcrum Biometrics, LLC
13.14 Daon, Inc
13.15 Facebanx
  • Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.
14 Appendix
14.1 Insights of Industry Experts
14.2 Discussion Guide

List of Tables

Table 1 Government Initiatives to Adopt Biometric Technology in Various Fields is Propelling the Growth of the Biometric System Market
Table 2 Overall Cost Association With the Biometric System is the Major Restrainting Factor for Biometric System Market
Table 3 Use of Biometrics in E-Commerce is Expected to Boost the Biometric System Market
Table 4 Security of Biometrics Data is A Major Challenge for the Biometric System Market
Table 5 Porter’s Five Forces Analysis: Bargaining Power of Buyers Likely to Have A High Impact on the Biometric System Market
Table 6 Biometric System Market, By Authentication Type, 2014 - 2022 (USD Million)
Table 7 Biometric System Market, By Single Factor Authentication, 2014 - 2022, (USD Million)
Table 8 Biometric System Market for Single Factor Authentication, By Application Type, 2014 - 2022 (USD Million)
Table 9 Biometric System Market for Single Factor Authentication, By Security Application, 2014 - 2022 (USD Million)
Table 10 Biometric System Market for Fingerprint Recognition, By Application Type, 2014 - 2022 (USD Million)
Table 11 Biometric System Market for Fingerprint Recognition, By Security Application, 2014 - 2022 (USD Million)
Table 12 Biometric System Market for Iris Recognition, By Application, 2014 - 2022 (USD Million)
Table 13 Biometric System Market for Iris Recognition, By Security Application, 2014 - 2022 (USD Million)
Table 14 Biometric System Market for Palm Recognition, By Application, 2014 - 2022 (USD Million)
Table 15 Biometric System Market for Palm Recognition, By Security Application, 2014 - 2022 (USD Million)
Table 16 Biometric System Market for Face Recognition, By Application, 2014 - 2022, (USD Million)
Table 17 Biometric System Market for Face Recognition, By Security Application, 2014 - 2022 (USD Million)
Table 18 Biometric System Market for Vein Recognition, By Application, 2014 - 2022 (USD Million)
Table 19 Biometric System Market for Vein Recognition, By Security Application, 2014 - 2022 (USD Million)
Table 20 Signature Recognition Biometric System Market for Signature Recognition, By Application, 2014 - 2022 (USD Million)
Table 21 Biometric System Market for Signature Recognition, By Security Application Type, 2014 - 2022 (USD Million)
Table 22 Biometric System Market for Voice Recognition, By Application Type, 2014 - 2022, (USD Million)
Table 23 Biometric System Market for Voice Recognition, By Security Application Type, 2014 - 2022, (USD Million)
Table 24 Biometric System Market for Other Single Factor Authentication, By Application Type, 2014 - 2022 (USD Million)
Table 25 Biometric System Market for Single Factor Authentication, By Security Application Type, 2014 - 2022 (USD Million)
Table 26 Biometric System Market for Multi-Factor Authentication, By Application, 2014 - 2022 (USD Million)
Table 27 Biometric System Market for Multi-Factor Authentication, By Security Application , 2014 - 2022 (USD Million)
Table 28 Biometric System Market Combined With Smart Card Authentication, By Application Type, 2014 - 2022, (USD Million)
Table 29 Biometric System Market Combined With Smart Card Authentication, By Security Application Type, 2014 - 2022 (USD Million)
Table 30 Biometric System Market Combined With Pin Authentication, By Application, 2014 - 2022 (USD Million)
Table 31 Biometric System Market Combined With Pin Authentication, By Security Application Type, 2014 - 2022 (USD Million)
Table 32 Biometric System Market for Multi-Modal Authentication, By Application, 2014 - 2022 (USD Million)
Table 33 Biometric System Market for Multi-Modal Authentication, By Security Application Type, 2014 - 2022 (USD Million)
Table 34 Biometric System Market, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 35 Biometric System Market, By Multi-Modal Authentication Type, 2014 - 2022 (USD Million)
Table 36 Biometric System Market, By Component (USD Million)
Table 37 Biometric System Market, By Hardware Component (USD Million)
Table 38 Biometric System Market, By Function Type 2014 - 2022 (USD Million)
Table 39 Biometric System Market, By Contact Function Type, 2014 - 2022 (USD Million)
Table 40 Biometric System Market, By Non-Contact Function Type, 2014 - 2022 (USD Million)
Table 41 Global Biometric System Market, By Application, 2014 - 2022 (USD Million)
Table 42 Biometric System Market, By Security Application, 2014 - 2022 (USD Million)
Table 43 Biometric System Market in the Government Sector, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 44 Biometric System Market in the Government Sector, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 45 Biometric System Market for the Government Sector, By Region, 2014 - 2022 (USD Million)
Table 46 Biometric System Market for Military & Defense Sector, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 47 Biometric System Market for the Military & Defense Sector, By Multi-Factor Authentication, 2014 - 2022 (USD Million)
Table 48 Biometric System Market for the Military & Defense Sector, By Region, 2014 - 2022 (USD Million)
Table 49 Biometric System Market for the Healthcare Sector, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 50 Biometric System Market for the Healthcare Sector, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 51 Biometric System Market for the Healthcare Sector, By Region, 2014 - 2022 (USD Million)
Table 52 Biometric System Market for the Banking & Finance Sector, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 53 Biometric System Market for the Banking & Finance Sector, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 54 Biometric System Market for the Banking & Finance Sector, By Region, 2014 - 2022 (USD Million)
Table 55 Biometric System Market for the Consumer Electronics Sector, By Single Factor Authentication Type, 2014 - 2022, (USD Million)
Table 56 Biometric System Market for the Consumer Electronics Sector, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 57 Biometric System Market for the Consumer Electronics Sector, By Region, 2014 - 2022 (USD Million)
Table 58 Biometric System Market for the Security Sector, By Region, 2014 - 2022 (USD Million)
Table 59 Biometric System Market for the Security Sector, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 60 Biometric System Market for the Security Sector, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 61 Biometric System Market for the Home Security Segement, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 62 Biometric System Market for the Home Security Segment, By Region, 2014 - 2022 (USD Million)
Table 63 Biometric System Market for the Commercial Security Segment, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 64 Biometric System Market for the Commercial Security Segment, By Region, 2014 - 2022 (USD Million)
Table 65 Biometric System Market for the Travel & Immigration Sector, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 66 Biometric System Market for the Travel & Immigration Sector, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 67 Biometric System Market for the Travel & Immigration Sector, By Region, 2014 - 2022 (USD Million)
Table 68 Biometric System Market for Other Applications Segment, By Single Factor Authentication Type, 2014 - 2022 (USD Million)
Table 69 Biometric System Market for Other Applications Segment, By Multi-Factor Authentication Type, 2014 - 2022 (USD Million)
Table 70 Biometric System Market for the Other Applications Segment, By Region, 2014 - 2022 (USD Million)
Table 71 Biometric System Market, By Region, 2014 - 2022 (USD Million)
Table 72 Biometric System Market in North America, By Application Type, 2014 - 2022 (USD Million)
Table 73 Biometric System Market in North America, By Country, 2014 - 2022 (USD Million)
Table 74 Biometric System Market in Europe, By Application Type, 2014 - 2022 (USD Million)
Table 75 Biometric System Market in Europe, By Country, 2014 - 2022 (USD Million)
Table 76 Biometric System Market in APAC, By Application Type, 2014 - 2022, (USD Million)
Table 77 Biometric System Market in APAC, By Country, 2014 - 2022 (USD Million)
Table 78 Biometric System Market in RoW, By Application Type, 2014 - 2022 (USD Million)
Table 79 Biometric System Market in RoW, By Geography, 2014 - 2022 (USD Million)
Table 80 Key Players Ranking
Table 81 Contracts & Acquisitions (2014 - 2016)
Table 82 Agreements & Partnerships (2013 - 2016)
Table 83 New Product Launch (2014 - 2016)
Table 84 Product Expansion (2016)

List of Figures

Figure 1 Markets Covered in the Biometric System Market
Figure 2 Research Design
Figure 3 Data Triangulation
Figure 4 Multi-Factor Authentication Market is Expected to Grow at the Highest CAGR During 2016 - 2022
Figure 5 Contact Type Biometrics is Expected to Be the Largest Market Segment During 2016 - 2022
Figure 6 Biometrics Software Market is Expected to Grow at the Higher CAGR During 2016 - 2022
Figure 7 Biometrics Market in Banking and Finance Sector is Expected to Grow at the Highest CAGR During 2016 - 2022
Figure 8 North America Accounted for the Largest Market Share in 2016
Figure 9 Biometric System Market to Provide Lucrative Growth Opportunities in Emerging Economies During the Forecast Period
Figure 10 In Single Factor Authentication, the Voice Recognition Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 In Multi-Factor Authentication Market, the Multi-Modal Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 12 In Biometrics Hardware Segment, Camera Component Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 The Biometric System Market in India is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Government Initiatives to Encourage the Usage of Biometrics and Integration of Biometrics in Smartphones are Expected to Boost the Biometric System Market
Figure 15 Increase in Online Shopping Expenditure in the U.S. Through Mobiles, 2014 - 2015
Figure 16 European Customer Preference for Use of Biometric System in Online Banking System
Figure 17 Value Chain Analysis of the Biometric System Market
Figure 18 Recent Technological Trends in Biometric System Market
Figure 19 Overview of Porter’s Five Forces Analysis for the Biometric System Market
Figure 20 Biometric System Market: Porter’s Five Forces Analysis, 2015
Figure 21 Biometric System Market: Threat of New Entrants
Figure 22 Biometric System Market: Threat of Substitutes
Figure 23 Biometric System Market: Bargaining Power of Suppliers
Figure 24 Biometric System Market: Bargaining Power of Buyers
Figure 25 Biometric System Market: Intensity of Competitive Rivalry
Figure 26 Biometric System Market, By Authentication Type
Figure 27 Multi-Factor Authentication for Biometric System Market is Expected to Grow at the Highest Rate (2016 - 2022)
Figure 28 Banking & Finance is Expected to Grow at the Highest Rate for the Biometric System Market for Fingerprint Recognition (2016 - 2022)
Figure 29 The Commercial Security Segment is Expected to Grow With the Highest CAGR Between 2016 to 2022
Figure 30 The Security Sector is Expected to Grow at the Highest Rate During the Forecast Period
Figure 31 The Commercial Security Segment is Expected to Grow With the Highest CAGR During the Forecast Period
Figure 32 Healthcare is Expected to Grow at the Highest CAGR in the Forecast Period
Figure 33 The Healthcare is Fastest Growing Sector for Biometric System Market Combined With Pin Authentication (2016  - 2022)
Figure 34 Commercial Security Segment Expected to Grow at the Highest Rate (2016-2022)
Figure 35 Biometric System Market, By Component
Figure 36 Software Component in Biometric System Market Expected to Grow at the Highest Rate During 2016 to 2022
Figure 37 Fingerprint Readers in Hardware Component for Biometric System Market Expected to Be the Largest Market Segment By 2022
Figure 38 Biometric System Market, By Function Type
Figure 39 Other Function Type Biometric Technology Expected to Grow at the Highest Rate During 2016 to 2022
Figure 40 Other Biometric Technology is Expected to Grow at the Highest CAGR in the Forecast Period
Figure 41 Voice Recognition Biometric Segment is Expected to Grow at A Highest CAGR During 2016 to 2022
Figure 42 Biometric System Market, By Application
Figure 43 Voice Recognition Segment in Government Sector Expected to Grow With the Highest Rate During 2016 to 2022
Figure 44 Voice Recognition Expected to Grow at the Highest CAGR During Forecast Period
Figure 45 Voice Recognition Technology in the Healthcare Sector Expected to Grow at Highest Rate During 2016 to 2022
Figure 46 Fingerprint Recognition Technology in the Banking & Finance Sector Expected to Cover A Maximum Portion of the Biometric System Market Share By 2022
Figure 47 Voice Recognition Technology in the Consumer Electronics Sector Expected to Grow at the Highest CAGR During 2016 to 2022
Figure 48 Fingerprint Recognition Technology for the Home Security Segment Expected to Cover the Maximum Portion of the Biometric System Market Share By 2022
Figure 49 Voice Recognition Technology in the Commercial Security Segment Expected to Grow at the Highest Rate During 2016 to 2022
Figure 50 Fingerprint Recognition Technology in the Travel & Immigration Sector Expected to Cover the Maximum Portion of the Biometric System Market Share By 2022
Figure 51 Voice Recognition Technology in Other Applications Segment Expected to Grow at the Highest Rate During 2016 to 2022
Figure 52 Geographic Snapshot of Biometric System Market (2016-2022)
Figure 53 Biometric System Market for APAC Expected to Grow at Highest Rate During 2016 to 2022
Figure 54 North America: Market Snapshot
Figure 55 North America Market for the Banking & Finance Sector Estimated to Grow at Highest Rate During 2016 to 2022
Figure 56 Europe: Market Snapshot
Figure 57 The European Market for Security Expected to Grow at Highest CAGR During 2016 to 2022
Figure 58 APAC: Market Snapshot
Figure 59 Travel & Immigration Sector in APAC Estimated to Cover Maximum Portion of the Market Share By 2022
Figure 60 RoW: Market Snapshot
Figure 61 Banking & Finance Segment in RoW Expected to Grow at Highest Rate (2016 - 2022)
Figure 62 Companies Adopted Contract and Acquisition as the Key Growth Strategy Between 2013 and 2016
Figure 63 Battle for Market Share: Companies Follow Contracts and Acquisition as the Key Strategies
Figure 64 Market Evolution Framework - Various Contracts and Acquisitions are Responsible for Growth of the Biometric System Market Between 2013 and 2016
Figure 65 Geographic Revenue Mix of the Major Market Players
Figure 66 Safran SA: Company Snapshot
Figure 67 Safran SA: SWOT Analysis
Figure 68 NEC Corporation: Company Snapshot
Figure 69 NEC Corporation: SWOT Analysis
Figure 70 Fujitsu Ltd.: Company Snapshot
Figure 71 Fujitsu Ltd.: SWOT Analysis
Figure 72 Aware, Inc.: Company Snapshot
Figure 73 Aware, Inc.: SWOT Analysis
Figure 74 Bio-Key International, Inc.: Company Snapshot
Figure 75 Precise Biometrics AB: Company Snapshot
Figure 76 Secunet Security Networks AG: Company Snapshot
Figure 77 Thales SA: Company Snapshot
Figure 78 Facebanx: Company Snapshot
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FEATURED COMPANIES

  • 3M Cogent, Inc
  • Cognitec Systems GmbH
  • Daon, Inc
  • Fujitsu Ltd.
  • NEC Corporation
  • Safran SA
  • MORE

The biometric system market size is expected to increase from USD 10.74 Billion in 2015 to USD 32.73 Billion by 2022, at a CAGR of 16.79% between 2016 and 2022.  The biometric system market is expected to grow because of various driving factors, such as government initiatives in adoption of biometrics system, integration of biometric technology in smartphones, rising use of biometric technology in financial institutes and healthcare sectors, and increasing use of biometric systems in criminal identification.

Voice recognition is the fastest-growing technology as it is non-contact, non-invasive, and easy-to-use. This technology is ideal for situations where distant verification is required, such as telephone-based transactions. Voice recognition technology could be used in call center authentication where voice could be used for authentication instead of answering security questions of the customer service agent. Voice recognition technology could provide strong authentication in consumer electronics, especially in smartphones and tablets, for access to the device or while making any payments. The voice recognition technology is expected to be used mostly in the banking and finance sector.

The banking and finance sector is expected to grow at a higher rate. Financial institutions face the most crucial security challenges such as fraud and hacking. These challenges result in the increased adoption of biometric products in the banking and finance sector to prevent fraud and theft, and also provide high security through the identification and authentication of the user. Currently, voice recognition is considered as a popular technology in the banking and finance sector. Integrating voice authentication in mobile devices is not only cost-effective but also provides high security. Therefore, the trend of integrating voice authentication in mobile banking is expected to show substantial growth in the coming years.

North America is expected to be the largest market for biometric systems. However, Asia-Pacific (APAC) is expected to be the fastest-growing market for biometric systems. The biometric system market in APAC is witnessing growth owing to technological advancements, awareness among the masses, and lowered costs of biometric devices. Biometric identification technology is being seen as a secure and reliable way to verify a person's identity in Asia as well as the other continents both in the government and commercial sectors.

However the biometric system market faces some challenges associated with growing concerns such as fear of privacy intrusion and inconvenience. This report describes the drivers, restraints, opportunities, and challenges pertaining to the biometric system market. Furthermore, the report analyzes the current scenarios and forecasts the market till 2022, and also includes the market segmentation based on authentication type, function, component, application, and region.

Some of the major companies in the biometric system market, include Safran SA (France), NEC Corporation (Japan), Fujitsu Ltd. (Japan), BIO-Key International, Inc. (U.S.), Precise Biometrics AB (Sweden), Secunet Security Networks AG (Germany), Thales SA (France), Aware, Inc. (U.S.), Cognitec Systems GmbH (Germany), Cross Match Technologies (U.S.), Fulcrum Biometrics, LLC (U.S.), Daon, Inc. (U.S.), Facebanx (U.K.), and 3M Cogent, Inc. (U.S.).

Note: Product cover images may vary from those shown
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  • 3M Cogent, Inc
  • Aware, Inc.
  • Bio-Key International, Inc.
  • Cognitec Systems GmbH
  • Cross Match Technologies
  • Daon, Inc
  • Facebanx
  • Fujitsu Ltd.
  • Fulcrum Biometrics, LLC
  • NEC Corporation
  • Precise Biometrics AB
  • Safran SA
  • Secunet Security Networks AG
  • Thales SA
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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