World Biometric Technology Market - Opportunities and Forecasts, 2014 - 2022

  • ID: 3773507
  • Report
  • Region: Global
  • 127 pages
  • Allied Analytics LLP
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Biometric is a technology used to identify the individuals based on their traits. Increasing demand for surveillance systems is driving the biometric technology market, globally. This technology is expected to experience healthy growth rate due to the rising need for security measures to limit illegal activities.

The biometric technology is chiefly uses face, finger, palm print recognition, etc. Global market analysis would provide intelligence about growth potential of the biometric technology market for global players. The report helps in delivering competitive intelligence of key developmental strategies adopted by top market players.

Leading companies mentioned in the report are 3M, Cross Match Technologies, Fujitsu Ltd. Fingerprint cards AB, Atmel Corporation, NEC Corporation, Facebanx, and Siemens AG.

Biometric Technology Market Analysis by Technology

The global biometric technologies market is categorized into facial recognition, finger recognition, voice recognition, palm print recognition, signature recognition, iris recognition, vein recognition, etc. Face, finger, and iris recognition are most significant technologies due to their wider scope in various surveillance systems.

Biometric Technology Market Analysis by Application

Biometric technology applications are primarily divided into consumer electronics, home security systems, and commercial security systems. The biometric technologies such as finger, face and iris recognition are commonly used in above stated applications. In addition to these, some other applications such as government and defense, travel and immigration, Banking and Finance, and healthcare are using biometric technologies

Biometric Technology Market Analysis by Geography

Geographical analysis of biometric technology market involves North America, Europe Asia-Pacific and RoW. Countries such as China and Japan are increasing their core competencies through advanced technologies in Asia-Pacific region.

High Level Analysis

Report presents an overview of global biometric technology market by using Porter’s five force analysis. Increase in demand for security systems has marked the growth rate of biometric technology in the global market. The report emphasis on the various biometric technologies involved in the security systems. The key intermediaries involved in this market are analyzed strategically through value chain analysis. This report discusses the market trends, drivers, and challenges of the biometric technology market, including the forecasts of the market during 2013 to 2020

Reasons for Study

Biometrics involves high degree of security and convenience, which helps in ensuring the confidentiality of personal information. With this technology, one can easily prevent theft, as the personal information is stored in digital format, which is impossible to reconstruct, decrypt, or manipulate. The biometric technology encrypts the information into digital format in order to reduce the probability of theft. Hence, the companies are engaged in manufacturing and introducing novel products using biometric technologies. This report analyses the strategies adopted by the companies operating in this market and provides clear understanding of various technologies, geographies, drivers and restraints.

KEY BENEFITS

Detailed analysis in the report describes the market trends, driving factors, limiting factors, and opportunities in the global biometric technology market
The report provides the future scope on the global biometric market using forecasts made during study period
SWOT analysis and Porter’s Five force model helps in understanding the strategic moves made by various companies
Micro level segmentation analysis is conducted based on technologies, applications, and geographies
Identification of key investment pockets for biometric technology market that helps stake holders to take strategic decisions
Comprehensive market analysis for different market segments are dealt according to geographies

KEY DELIVERABLES

The global biometric technology market is classified based on applications, technologies and geographies.

KEY MARKET SEGMENTS

MARKET BY TECHNOLOGY

Face Recognition Technology
Finger Recognition Technology
Iris Recognition Technology
Palm Print Recognition Technology
Voice Recognition Technology
Signature Recognition Technology
Vein Recognition Technology
Other technologies

MARKET BY APPLICATIONS

Consumer Electronics
Home Security
Commercial Security
Government
Travel and Immigration
Defense
Banking and Finance
Healthcare
Others

MARKET BY GEOGRAPHY

North America
Europe
Asia-Pacific
RoW
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CHAPTER 1 INTRODUCTION
1.1 Report Description
1.2 Key Benefits
1.3 Key Market Segments
1.4 Research Methodology
1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models

CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO Perspective

CHAPTER 3 MARKET OVERVIEW
3.1 Market Definition and Scope
3.2 Key Findings
3.2.1 Top Impacting Factors
3.2.2 Top Winning Strategies
3.2.3 Top Investment Pockets
3.3 Value Chain Analysis
3.3.1 Core Technology
3.3.2 Physical Components Manufacturer
3.3.3 Integrated Biometric Devices
3.3.4 Marketing and Distribution
3.3.5 End Users
3.4 Porters Five Forces Analysis
3.4.1 Highly Fragmented Market and Irrelevance Between Prices of Final Product & Components Lead to Moderate Bargaining Power of Suppliers
3.4.2 Availability of Various Technologies and Products by Large Number of Players Leads to High Bargaining Power of Buyers
3.4.3 Large Number of Market Players Leads to Intense Rivalry Among Competitors
3.4.4 Significant Presence of Conventional Methods for Security and Safety Creates Moderate Threat from Substitutes
3.4.5 Huge Growth Potential and Development in Biometric Technology Leads to High Threat from New Entrants
3.5 Market Share Analysis, 2015
3.6 Drivers
3.6.1 Growing Applications of Biometric Technology in Commercial and Government Sectors
3.6.2 Increasing Concern for Safety and Security
3.6.3 Unique Technology with Easy Usage
3.6.4 Rising Standards of Living
3.6.5 Budding Developments in Emerging Markets
3.7 Restraints
3.7.1 High Initial Investments and Cost of Devices
3.7.2 Technological Limitations
3.7.3 Fear of Privacy Intrusion
3.8 Opportunities
3.8.1 Evolving Multilevel Biometric Technology
3.8.2 Flourishing Use in E-commerce and Cloud Computing

CHAPTER 4 BIOMETRIC TECHNOLOGY MARKET, BY TYPE
4.1 Market Size and Forecast
4.2 Physiological Biometric
4.2.1 Market Size and Forecast
4.2.2 Fingerprint Recognition
4.2.2.1 Key Trends
4.2.2.2 Key Growth Factors and Opportunities
4.2.2.3 Market Size and Forecast
4.2.3 Face Recognition
4.2.3.1 Key trends
4.2.3.2 Key Growth Factors and Opportunities
4.2.3.3 Market Size and Forecast
4.2.4 Iris Recognition
4.2.4.1 Key Trends
4.2.4.2 Key Growth Factors and Opportunities
4.2.4.3 Market Size and Forecast
4.2.5 Hand Geometry Recognition
4.2.5.1 Key Trends
4.2.5.2 Key Growth Factors and Opportunities
4.2.5.3 Market Size and Forecast
4.2.6 Others (Ear, DNA)
4.2.6.1 Key Trends
4.2.6.2 Key Growth Factors and Opportunities
4.2.6.3 Market Size and Forecast
4.3 Behavioral Biometric
4.3.1 Market Size and Forecast
4.3.2 Signature Recognition
4.3.2.1 Key Trends
4.3.2.2 Key Growth Factors and Opportunities
4.3.2.3 Market Size and Forecast
4.3.3 Voice Recognition
4.3.3.1 Key Trends
4.3.3.2 Key Growth Factors and Opportunities
4.3.3.3 Market Size and Forecast
4.3.4 Others (Odor, Keystroke)
4.3.4.1 Key Trends
4.3.4.2 Key Growth Factors and Opportunities
4.3.4.3 Market Size and Forecast

CHAPTER 5 BIOMETRIC TECHNOLOGY MARKET, BY END USER
5.1 Market Size and Forecast
5.2 Public Sector
5.2.1 Key Trends
5.2.2 Key Growth Factors and Opportunities
5.2.3 Market Size and Forecast
5.3 Banking & Financial Sector
5.3.1 Key Trends
5.3.2 Key Growth Factors and Opportunities
5.3.3 Market Size and Forecast
5.4 Healthcare
5.4.1 Key Trends
5.4.2 Key Growth Factors and Opportunities
5.4.3 Market Size and Forecast
5.5 IT & Telecommunication
5.5.1 Key Trends
5.5.2 Key Growth Factors and Opportunities
5.5.3 Market Size and Forecast
5.6 Others (Hospitality, Retail, Automotive)
5.6.1 Key Trends
5.6.2 Key Growth Factors and Opportunities
5.6.3 Market Size and Forecast

CHAPTER 6 BIOMETRIC TECHNOLOGY MARKET, BY GEOGRAPHY
6.1 North America
6.1.1 Key Trends
6.1.2 Key Growth Factors and Opportunities
6.1.3 Market Size and Forecast
6.1.3.1 U.S.
6.1.3.1.1 MARKET SIZE AND FORECAST
6.1.3.2 Canada
6.1.3.2.1 MARKET SIZE AND FORECAST
6.1.3.3 Mexico
6.1.3.3.1 MARKET SIZE AND FORECAST
6.2 Europe
6.2.1 Key Trends
6.2.2 Key Growth Factors and Opportunities
6.2.3 Market Size and Forecast
6.2.3.1 United Kingdom
6.2.3.1.1 MARKET SIZE AND FORECAST
6.2.3.2 Germany
6.2.3.2.1 MARKET SIZE AND FORECAST
6.2.3.3 France
6.2.3.3.1 MARKET SIZE AND FORECAST
6.2.3.4 Spain
6.2.3.4.1 MARKET SIZE AND FORECAST
6.2.3.5 Italy
6.2.3.5.1 MARKET SIZE AND FORECAST
6.2.3.6 Rest of Europe
6.2.3.6.1 MARKET SIZE AND FORECAST
6.3 Asia-Pacific
6.3.1 Key Trends
6.3.2 Key Growth Factors and Opportunities
6.3.3 Market Size and Forecast
6.3.3.1 China
6.3.3.1.1 MARKET SIZE AND FORECAST
6.3.3.2 Japan
6.3.3.2.1 MARKET SIZE AND FORECAST
6.3.3.3 India
6.3.3.3.1 MARKET SIZE AND FORECAST
6.3.3.4 Singapore
6.3.3.4.1 MARKET SIZE AND FORECAST
6.3.3.5 South Korea
6.3.3.5.1 MARKET SIZE AND FORECAST
6.3.3.6 Rest of Asia-Pacific
6.3.3.6.1 MARKET SIZE AND FORECAST
6.4 LAMEA
6.4.1 Key Trends
6.4.2 Key Growth Factors and Opportunities
6.4.3 Market Size and Forecast
6.4.3.1 Latin America
6.4.3.1.1 MARKET SIZE AND FORECAST
6.4.3.2 Middle East
6.4.3.2.1 MARKET SIZE AND FORECAST
6.4.3.3 Africa
6.4.3.3.1 MARKET SIZE AND FORECAST

CHAPTER 7 COMPANY PROFILES
7.1 3M Company (Cogent Systems, Inc.)
7.1.1 Company Overview
7.1.2 Business Performance
7.1.3 Strategic Moves and Developments of 3M Company
7.1.4 3M Company: SWOT Analysis
7.2 Fujitsu Frontech Limited
7.2.1 Company Overview
7.2.2 Business Performance
7.2.3 Strategic Moves and Developments of Fujitsu Limited
7.2.4 Fujitsu Limited: SWOT Analysis
7.3 ImageWare Systems, Inc.
7.3.1 Company Overview
7.3.2 Business Performance
7.3.3 Strategic Moves and Development of ImageWare Systems, Inc.
7.3.4 ImageWare Systems, Inc.: SWOT Analysis
7.4 Suprema, Inc.
7.4.1 Company Overview
7.4.2 Business Performance
7.4.3 Strategic Moves and Developments of Suprema, Inc.
7.4.4 Suprema, Inc.: SWOT Analysis
7.5 Safran S.A.
7.5.1 Company Overview
7.5.2 Business Performance
7.5.3 Strategic Moves and Development of Safran S.A.
7.5.4 Safran S.A.: SWOT Analysis
7.6 secunet Security Networks AG
7.6.1 Company Overview
7.6.2 Business Performance
7.6.3 Strategic Moves and Development of secunet Security Networks AG
7.6.4 Secunet Security Networks AG: SWOT Analysis
7.7 Thales S.A.
7.7.1 Company Overview
7.7.2 Business Performance
7.7.3 Strategic Moves and Developments of Thales S.A.
7.7.4 Thales S.A.: SWOT Analysis
7.8 BIO-key International, Inc.
7.8.1 Company Overview
7.8.2 Business Performance
7.8.3 Strategic Moves and Development of BIO-key International, Inc.
7.8.4 BIO-key International, Inc.: SWOT Analysis
7.9 NEC Corporation
7.9.1 Company Overview
7.9.2 Business Performance
7.9.3 Strategic Moves and Development of NEC Corporation
7.9.4 NEC Corporation: SWOT Analysis
7.10 Precise Biometrics
7.10.1 Company Overview
7.10.2 Business Performance
7.10.3 Strategic Moves and Developments of Precise Biometrics
7.10.4 Precise Biometrics: SWOT Analysis
Table 1 Biometric Technology Market, By Type, 2015 - 2022 ($Billion)
Table 2 Physiological Biometric Technology Market, By Type, 2015 - 2022 ($Billion)
Table 3 Physiological Biometric Technology Market, By Geography, 2015 - 2022
Table 4 Fingerprint Biometric Technology Market, By Geography, 2015 - 2022
Table 5 Face Biometric Technology Market, By Geography, 2015 - 2022
Table 6 Iris Biometric Technology Market, By Geography, 2015 - 2022
Table 7 Hand Geometry Biometric Technology Market, By Geography, 2015 - 2022
Table 8 Wolrd Other Physiological Biometric Technology Market, By Geography, 2015 - 2022
Table 9 Behavioural Biometric Technology Market, By Type, 2015 - 2022
Table 10 Behavioural Biometric Technology Market, By Geography, 2015 - 2022
Table 11 Signature Biometric Technology Market, By Geography, 2015 - 2022
Table 12 World Voice Biometric Technology Market, By Geography, 2015 - 2022
Table 13 Others Biometric Technology Market, By Geography, 2015 - 2022
Table 14 Biometric Technology Market, By End USer, 2015 - 2022
Table 15 Public Sector Biometric Technology Market, By Geography, 2015 - 2022
Table 16 World Banking & Financial Sector Biometric Technology Market, By Geography, 2015 - 2022
Table 17 World Helathcare Biometric Technology Market, By Geography, 2015 - 2022
Table 18 World It & Telecommunication Biometric Technology Market, By Geography, 2015 - 2022
Table 19 Others Biometric Technology Market, By Geography, 2015 - 2022
Table 20 North America Biometric Technology Market, By End USer, 2015 - 2022
Table 21 North America Biometric Technology Market, By Country, 2015 - 2022
Table 22 Europe Biometric Technology Market, By End USer, 2015 - 2022
Table 23 Europe Smart Material Market Revenue, By Country, 2015 - 2022 ($Billion)
Table 24 Asia-Pacific Biometric Technology Market, By End USer, 2015 - 2022
Table 25 Asia-Pacific Biometric Technology Market Revenue, By Country, 2015 - 2022 ($Billion)
Table 26 Lamea Biometric Technology Market, By End USer, 2015 - 2022
Table 27 Lamea Biometric Technology Market Revenue, By Country, 2015 - 2022 ($Billion)
Table 28 3M Company (Cogent Systems, Inc.): Snapshot
Table 29 Fujitsu Limited: Snapshot
Table 30 Imageware Systems, Inc.: Snapshot
Table 31 Suprema, Inc.: Snapshot
Table 32 Safran S.A.: Snapshot
Table 33 Secunet Security Networks Ag: Snapshot
Table 34 Thales S.A.: Snapshot
Table 35 Bio-Key International Inc.: Snapshot
Table 36 Nec Corporation: Snapshot
Table 37 Precise Biometrics: Snapshot
Fig. 1 Top Winning Strategies In Biometric Technology Market (Percentage Comparison) (2012 - 2015)
Fig. 2 Top Winning Strategies In Biometric Technology Market, 2012 - 2015
Fig. 3 Top Investment Pockets In Biometric Technology Market, 2015 - 2022
Fig. 4 Value Chain Analysis Of Biometric Technology Market
Fig. 6 Gdp Per Capita Ppp For Major Countries In The World
Fig. 7 Comparitive Market Share Analysis Of World Biometric Technology Market By Type, 2015 & 2022 (%)
Fig. 7 Comparitive Regional Market Share Analysis Of World Physiological Biometric Technology Market, 2015 & 2022 (%)
Fig. 8 Comparitive Market Share Analysis Of World Physiological Biometric Technology Market By Type, 2015 & 2022 (%)
Fig. 9 Comparitive Regional Market Share Analysis Of World Fingerprint Biometric Technology Market, 2015 & 2022 (%)
Fig. 10 World Fingerprint Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 11 World Fingerprint Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 12 Comparitive Regional Market Share Analysis Of World Face Biometric Technology Market, 2015 & 2022 (%)
Fig. 13 World Face Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 14 World Face Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 15 Comparitive Regional Market Share Analysis Of World Iris Biometric Technology Market, 2015 & 2022 (%)
Fig. 16 World Iris Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 17 World Iris Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 18 Comparitive Regional Market Share Analysis Of World Hand Geometry Biometric Technology Market, 2015 & 2022 (%)
Fig. 19 World Hand Geometry Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 20 World Hand Geometry Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 22 Comparitive Regional Market Share Analysis Of World Others Biometric Technology Market, 2015 & 2022 (%)
Fig. 23 World Other Physiological Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 24 World Other Physiological Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 25 Comparitive Regional Market Share Analysis Of World Behavioral Biometric Technology Market, 2015 & 2022 (%)
Fig. 26 Comparitive Market Share Analysis Of World Behavioral Biometric Technology Market By Type, 2015 & 2022 (%)
Fig. 27 Comparitive Regional Market Share Analysis Of World Signature Biometric Technology Market, 2015 & 2022 (%)
Fig. 28 World Signature Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 29 World Signature Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 30 Comparitive Regional Market Share Analysis Of World Voice Biometric Technology Market, 2015 & 2022 (%)
Fig. 32 World Voice Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 33 World Voice Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 34 Comparitive Regional Market Share Analysis Of World Other Behavioral Biometric Technology Market, 2015 & 2022 (%)
Fig. 35 World Other Behavioral Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 36 World Other Behavioral Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 37 Comparitive Market Share Analysis Of World Biometric Technology Market By End USer, 2015 & 2022 (%)
Fig. 38 Comparitive Market Share Analysis Of World Public Sector Biometric Technology Market, 2015 & 2022 (%)
Fig. 39 World Public Sector Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 40 World Public Sector Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 41 Comparitive Market Share Analysis Of World Banking & Fanancial Biometric Technology Market, 2015 & 2022 (%)
Fig. 42 World Banking & Financial Sector Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 43 World Banking & Financial Sector Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 44 Comparitive Market Share Analysis Of World Healthcare Biometric Technology Market, 2015 & 2022 (%)
Fig. 45 World Healthcare Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 46 World Healthcare Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 47 Comparitive Market Share Analysis Of World It & Telecommunication Biometric Technology Market, 2015 & 2022 (%)
Fig. 48 World It & Telecommunication Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 49 World It & Telecommunication Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 50 Comparitive Market Share Analysis Of World Other End USers Biometric Technology Market, 2015 & 2022 (%)
Fig. 51 World Other End USers Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 52 World Other End USers Biometric Technology Market Share Analysis By Geography, 2015 - 2022 (%)
Fig. 53 Comparitive Market Share Analysis Of World Smart Material Market By Region, 2015 & 2022 (%)
Fig. 54 Comparitive Market Share Analysis Of North America Biometric Technology Market By Country, 2015 & 2022 (%)
Fig. 55 North America Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 56 Comparitive Market Share Analysis Of North America Biometric Technology Market By End USer, 2015 & 2022 (%)
Fig. 57 Comparitive Market Share Analysis Of Europe Biometric Technology Market By Country, 2015 & 2022 (%)
Fig. 58 Europe Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 59 Comparitive Market Share Analysis Of Europe Biometric Technology Market By End USer, 2015 & 2022 (%)
Fig. 60 Comparitive Market Share Analysis Of Asia-Pacific Biometric Technology Market By Country, 2015 & 2022 (%)
Fig. 61 Asia-Pacific Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 62 Comparitive Market Share Analysis Of Asia-Pacific Biometric Technology Market By End USer, 2015 & 2022 (%)
Fig. 63 Comparitive Market Share Analysis Of Lamea Biometric Technology Market By Country, 2015 & 2022 (%)
Fig. 64 Lamea Biometric Technology Market Revenue, 2015 - 2022 ($Billion)
Fig. 65 Comparitive Market Share Analysis Of Lamea Biometric Technology Market By End USer, 2015 & 2022 (%)
Fig. 66 3M Company: Net Sales, 2012 - 2015 ($Million)
Fig. 67 3M Company: Net Sales, By Business Segments, 2015 (%)
Fig. 68 3M Company: Net Sales, By Geography, 2015 (%)
Fig. 69 3M Company: Swot Analysis
Fig. 70 Fujitsu Frontech Limited: Net Sales, 2012 - 2015 ($Million)
Fig. 71 Fujitsu Frontech Limited: Swot Analysis
Fig. 72 Imageware Systems, Inc.: Revenue 2012 - 2015 ($Million)
Fig. 73 Imageware Systems, Inc.: Swot Analysis
Fig. 74 Suprema, Inc.: Sales, 20122014 ($Million)
Fig. 75 Suprema, Inc.: Swot Analysis
Fig. 76 Safran S.A.: Revenue, 2012 - 2015 ($Million)
Fig. 77 Safran S.A.: Revenue, By Business Segments, 2015 (%)
Fig. 78 Safran S.A.: Revenue, By Geography, 2015 (%)
Fig. 79 Safran S.A.: Swot Analysis
Fig. 80 Secunet Security Networks Ag: Swot Analysis
Fig. 81 Thales S.A.: Sales, 2012 - 2015 ($Million)
Fig. 82 Thales S.A.: Sales, By Business Segment, 2015 (%)
Fig. 83 Thales S.A.: Sales, By Geography, 2015 (%)
Fig. 84 Thales S.A.: Swot Analysis
Fig. 85 Bio-Key International, Inc.: Revenue, 2012 - 2015 ($Million)
Fig. 86 Bio-Key International, Inc.: Swot Analysis
Fig. 87 Nec Corporation: Sales, 2012 - 2015 ($Million)
Fig. 88 Public Business Segment Of Nec Corporation: Sales, 20132015 ($Million)
Fig. 89 Nec Corporation: Sales, By Business Segments, 2015 (%)
Fig. 90 Nec Corporation: Swot Analysis
Fig. 91 Precise Biometrics: Net Sales, 2012 - 2015 ($Million)
Fig. 92 Precise Biometrics: Net Sales, By Business Segments, 2015 (%)
Fig. 93 Precise Biometrics: Swot Analysis
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Biometric Technology Market Report, forecasts that the global market is expected to garner $10.72 billion by 2022, registering a CAGR of 19.4% during the period 2016-2022.

In the year 2015, North America was the highest revenue-generating region, owing to increasing adoption of advanced security and authentic solutions and service in the government and commercial sector. Furthermore, the region is projected to continue its dominance throughout the forecast period due to increasing need for multilevel biometric solutions and services in various end-user verticals. Europe was the second largest market, in terms of revenue generation, followed by Asia-Pacific. Major factors that boost the biometric technology market worldwide include increasing security & privacy concerns and rising standard of living.

The physical biometric segment dominated the market with around 81% share, owing to increasing adoption of fingerprint recognition and face recognition biometric solutions across various end-user verticals, in 2015. The iris recognition segment is projected to expand at the highest CAGR of around 22%, owing to widening applications of iris recognition biometric solutions at vehicle checkpoints, airport security, and for employee identification.

The banking & financial sector led the market, followed by the public sector, both collectively accounting for around 60% of the market revenue in 2015.

The globalbiometric technology market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA. North America generated the largest revenue in 2015, followed by Europe. Asia-Pacific is projected to expand at the highest CAGR of around 22% during the forecast period.

Key Findings of Biometric Technology Market:

Major driving forces for the growth of the biometric technology market are increasing severity & privacy concerns and continuous technological advancements.
Fingerprint recognition segment dominated the biometric technology market in 2015; however, the iris segment is expected to grow at the highest CAGR.
North America dominated in 2015, whereas Asia-Pacific is expected to register the fastest growth.

The report features a competitive scenario of thebiometric technology market and provides a comprehensive analysis of key growth strategies adopted by major players. Key players adopt product launches, and mergers & acquisitions as their key growth strategies to expand their presence and gain a competitive edge. Companies profiled in the report include 3M Company (Cogent Systems, Inc.), Fujitsu Frontech Limited, ImageWare Systems, Inc., Suprema, Inc., Safran S.A., secunet Security Networks AG, Thales S.A., BIO-key International, Inc., NEC Corporation, and Precise Biometrics.
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