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Global Biometric Systems Market (2023-2028) By Technology, Functionality, Component, Authentication, End Users and Geography, Impact of Covid-19 with Ansoff Analysis

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  • 209 Pages
  • January 2023
  • Region: Global
  • Infogence Global Research
  • ID: 5317229
UP TO OFF until Dec 31st 2023

Quick Summary:

The Global Biometric Systems Market is currently in a state of rapid expansion. Riding a wave of technological advancement, this arena presents a unique opportunity for businesses to diversify their portfolio and secure returns. Investing in this report will provide a clear comprehension of the market's complex dynamics, allowing informed decision-making to capitalize on growth and mitigate risks.

Detailed market segmentation offers deep insights into key technologies, functionalities, components, and end-users that shape the industry. A geographic breakdown provides an understanding of market tendencies in significant international regions. Armed with this knowledge, you can identify promising areas for investment and better understand the market's trajectory. The report also delivers an extensive competitor analysis, putting you ahead in understanding your rivals' strategies and positioning. Enter the Biometric Systems Market confidently armed with comprehensive and meticulously researched information.

The Global Biometric Systems Market is estimated to be USD 35.13 Bn in 2023 and is expected to reach USD 63.02 Bn by 2028, growing at a CAGR of 12.40%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviours of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.

Market Segmentations

The Global Biometric Systems Market is segmented based on Technology, Functionality, Component, Authentication, and End User.
  • By Technology, the market is classified into Face Recognition, Hand Geometry, Voice Recognition, Signature Recognition, IRIS Recognition, Fingerprint Recognition, and Others.
  • By Functionality, the market is classified into Contact, Non-Contact, and Combined.
  • By Component, the market is classified into Hardware and Software.
  • By Authentication, the market is classified into Single-Factor Authentication, and Multifactor Authentication.
  • By End Users, the market is classified into Government, Defence Services, Banking & Finance, Consumer Electronics, Healthcare, Commercial Safety & Security, Transport/Visa/Logistics, and Others.
  • By Geography, the market is classified into Americas, Europe, Middle East & Africa, and Asia-Pacific.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Accu-Time Systems, Inc., BIO-Key International, Inc., Cognitec Systems, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Biometric Systems Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Biometric Systems Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Biometric Systems Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth Market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the Market are also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global Biometric Systems Market

What is the estimated value of the Global Biometric Systems Market?

The Global Biometric Systems Market was estimated to be valued at $35.13 Billion in 2023.

What is the growth rate of the Global Biometric Systems Market?

The growth rate of the Global Biometric Systems Market is 12.4%, with an estimated value of $63.02 Billion by 2028.

What is the forecasted size of the Global Biometric Systems Market?

The Global Biometric Systems Market is estimated to be worth $63.02 Billion by 2028.

Who are the key companies in the Global Biometric Systems Market?

Key companies in the Global Biometric Systems Market include Accu, Time Systems, Inc., BIO, Key International, Inc., Cognitec Systems, GmbH, Fujitsu Ltd., 3M Cogent, Inc., IDTECK,, NEC Corp. and Siemens AG.

Table of Contents

16 Report Description
16.1 Study Objectives
16.2 Market Definition
16.3 Currency
16.4 Years Considered
16.5 Language
16.6 Key Stakeholders

17 Research Methodology
17.1 Research Process
17.2 Data Collection and Validation
17.2.1 Secondary Research
17.2.2 Primary Research
17.2.3 Analyst Models
17.3 Market Size Estimation
17.3.1 Bottom-Up Approach
17.3.2 Top-Down Approach
17.4 Assumptions of the Study
17.5 Limitations of the Study

18 Executive Summary
18.1 Introduction
18.2 Market Size, Segmentations, and Outlook

19 Market Dynamics
19.1 Drivers
19.1.1 Increasing Government Initiatives to adopt biometrics
19.1.2 Increasing use of biometrics in smartphones for seamless access to other applications
19.2 Restraints
19.2.1 High Deployment Cost
19.3 Opportunities
19.3.1 Rising Advent of Advanved Technolgies
19.4 Challenges
19.4.1 Rising Concerns Regarding Data Security

20 Market Analysis
20.1 Regulatory Scenario
20.2 Porter's Five Forces Analysis
20.3 PESTLE Analysis
20.4 SWOT Analysis
20.5 Impact of COVID-19
20.6 Impact of Economic Slowdown & Impending Recession
20.7 Ansoff Matrix Analysis

21 Global Biometric Systems Market, By Technology
21.1 Introduction
21.2 Face Recognition
21.3 Hand Geometry
21.4 Voice Recognition
21.5 Signature Recognition
21.6 IRIS Recognition
21.7 AFIS
21.8 Non-AFIS
21.9 Others

22 Global Biometric Systems Market, By Functionality
22.1 Introduction
22.2 Contact
22.3 Non-Contact
22.4 Combined

23 Global Biometric Systems Market, By Component
23.1 Introduction
23.2 Hardware
23.3 Software

24 Global Biometric Systems Market, By Authentication
24.1 Introduction
24.2 Single-Factor Authentication
24.3 Multifactor Authentication

25 Americas' Biometric Systems Market
25.1 Introduction
25.2 Argentina
25.3 Brazil
25.4 Canada
25.5 Chile
25.6 Colombia
25.7 Mexico
25.8 Peru
25.9 United States
25.10 Rest of Americas

26 Europe's Biometric Systems Market
26.1 Introduction
26.2 Austria
26.3 Belgium
26.4 Denmark
26.5 Finland
26.6 France
26.7 Germany
26.8 Italy
26.9 Netherlands
26.10 Norway
26.11 Poland
26.12 Russia
26.13 Spain
26.14 Sweden
26.15 Switzerland
26.16 United Kingdom
26.17 Rest of Europe

27 Middle East and Africa's Biometric Systems Market
27.1 Introduction
27.2 Egypt
27.3 Israel
27.4 Qatar
27.5 Saudi Arabia
27.6 South Africa
27.7 United Arab Emirates
27.8 Rest of MEA

28 APAC's Biometric Systems Market
28.1 Introduction
28.2 Australia
28.3 Bangladesh
28.4 China
28.5 India
28.6 Indonesia
28.7 Japan
28.8 Malaysia
28.9 Philippines
28.10 Singapore
28.11 South Korea
28.12 Sri Lanka
28.13 Thailand
28.14 Taiwan
28.15 Rest of Asia-Pacific

29 Competitive Landscape
29.1 Competitive Quadrant
29.2 Market Share Analysis
29.3 Strategic Initiatives
29.3.1 M&A and Investments
29.3.2 Partnerships and Collaborations
29.3.3 Product Developments and Improvements

30 Company Profiles
30.1 Accu-Time Systems, Inc.
30.2 BIO-Key International, Inc.
30.3 Cognitec Systems, GmbH
30.4 Fujitsu Ltd.
30.5 3M Cogent, Inc.
30.6 IDTECK,
30.7 NEC Corp.
30.8 Siemens AG
30.9 RCG Holdings, Ltd.
30.10 Suprema, Inc.
30.11 Lumidigm, Inc.
30.12 IrisGuard, Inc.
30.13 Daon, Inc.
30.14 DigitalPersona, Inc.
30.15 Morpho SA (Safran)
30.16 Thales Group
30.17 Fingerprint Cards Ag
30.18 Cross Match Technologies

31 Appendix
31.1 Questionnaire

Companies Mentioned

  • Accu-Time Systems, Inc.
  • BIO-Key International, Inc.
  • Cognitec Systems, GmbH
  • Fujitsu Ltd.
  • 3M Cogent, Inc.
  • NEC Corp.
  • Siemens AG
  • RCG Holdings, Ltd.
  • Suprema, Inc.
  • Lumidigm, Inc.
  • IrisGuard, Inc.
  • Daon, Inc.
  • DigitalPersona, Inc.
  • Morpho SA (Safran)
  • Thales Group
  • Fingerprint Cards Ag
  • Cross Match Technologies "