Biometric technology provides advanced methodology over traditional PIN based methods. This technology is used to secure the sensitive or personal data from fraudulent use of an individual’s possessions, such as ATMs, smart cards, mobile phones or access to desktops, laptops, workstations, or networks by unique identification technique. It uses both physiological as well as psychological traits for identification that makes it beneficial in variety of crucial applications, such as national security, law enforcement, enterprise &e-governance, personal information & business transactions, and others. Biometric systems are designed with a storage component for biometric data samples of individuals and are linked to the information on their identity. Traditional methods could be compromised; for instance, a PIN or password could be forgotten or a key could be lost, but biometric traits are difficult to steal or forget. Owing to its unique characteristics and high security, biometric technology is used in variety of applications in industries, such as defense, government, healthcare, banking & finance, transport & immigration, commercial security, non-commercial safety, and others (hospitality, gaming, automobile, retail).
Market Analysis and Insights: Global Biometric Technology Market
The global Biometric Technology market size is projected to reach US$ 11490 million by 2026, from US$ 6142.6 million in 2020, at a CAGR of 11.0% during 2021-2026.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Biometric Technology market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Biometric Technology market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Biometric Technology market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Biometric Technology market.
Biometric Technology Breakdown Data by Type
Based on physical characteristics
Based on behavioral characteristics
Biometric Technology Breakdown Data by Application
Banking & financial sector
IT & telecommunication
Others (hospitality, retail, automotive)
Based on regional and country-level analysis, the Biometric Technology market has been segmented as follows:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
Rest of Middle East & Africa
In the competitive analysis section of the report, leading as well as prominent players of the global Biometric Technology market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.
The following players are covered in this report:
3M Company (Cogent Systems, Inc.)
Fujitsu Frontech Limited
ImageWare Systems, Inc.
secunet Security Networks AG
BIO-key International, Inc.