Navigation Links
Biometric Technology Market is Estimated to Generate $10.72 Billion, Globally by 2022 - Allied Market Research
Date:1/12/2017

PORTLAND, Oregon and PUNE, India, January 12, 2017 /PRNewswire/ --

A new report by Allied Market Research, titled, "Global Biometric Technology Market: Opportunities and Forecasts, 2015 - 2022," projects that the global biometric technology market is expected to generate revenue of $10.72 billion by 2022, with an estimated CAGR of 19.4% from 2016 to 2022.

Continue Reading
Allied Market Research Logo
Allied Market Research Logo

     (Logo: http://photos.prnewswire.com/prnh/20140911/647229)

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.

Summary of Biometric Technology Market Report can be accessed on the website at: 

https://www.alliedmarketresearch.com/biometric-technology-market

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 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" states Kalyani Sonawane, Research Analyst, ICT & Media Research at AMR.

The global biometric 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 the Study: 

  • 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 the global biometric 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.

Read similar market research reports on High Tech, Enterprise & Consumer IT at: 

https://www.alliedmarketresearch.com/information-&-communication-technology-&-media/high-tech-enterprise-and-consumer-it-market-report

About Us: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
Rahul Thakur
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Direct: +1-503-894-6022
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
E-mail: sales@alliedmarketresearch.com

Website: https://www.alliedmarketresearch.com



'/>"/>
SOURCE Allied Market Research
Copyright©2017 PR Newswire.
All rights reserved


Related biology news :

1. Delta ID Introduces Iris Scanning Technology for In-Car Biometrics and Secure Autonomous Driving at CES 2017
2. Valencell Raises the Bar in Biometric Sensor Solutions for Hearables and Wearables
3. STMicroelectronics and Valencell Announce Collaboration on Highly Accurate and Powerful Biometric Sensor Platform for Wearables and IoT
4. IdentyTech Offers Boon Edam Products Integrated with Biometric Readers
5. $854 Million Biometric Vehicle Access System Market - Authentication Type, Future Technology, Vehicle Type & Region - Global Forecast to 2021 - Research and Markets
6. Global Military Biometrics Market Growth at 7.5%, 2016-2020 - Technologies Being Used for Local, State & Federal Investigations - Research and Markets
7. Biometric Wearables to Disrupt the Automotive Industry
8. Continental Introduces Biometrics to Vehicles at CES 2017
9. Mobile Biometrics Market by Component, Authentication Mode and Multifactor, Industry, and Geography - Global Forecast to 2022
10. Mobile Biometric Security and Service Market Projected to Reach USD 46 Billion by 2022
11. Avanade Tracks Williams Martini Racing Pit Crew Biometrics To Boost Future F1 Performance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/17/2017)... 2017 NXT-ID, Inc. (NASDAQ: NXTD ) ... of its 2016 Annual Report on Form 10-K on Thursday April ... ... in the Investor Relations section of the Company,s website at ... at http://www.sec.gov . 2016 Year Highlights: ...
(Date:4/11/2017)... -- Research and Markets has announced the addition of ... offering. ... market to grow at a CAGR of 30.37% during the period ... has been prepared based on an in-depth market analysis with inputs ... growth prospects over the coming years. The report also includes a ...
(Date:4/5/2017)... 2017  The Allen Institute for Cell Science today ... one-of-a-kind portal and dynamic digital window into the human ... first application of deep learning to create predictive models ... and a growing suite of powerful tools. The Allen ... future publicly available resources created and shared by the ...
Breaking Biology News(10 mins):
(Date:10/12/2017)... ... October 12, 2017 , ... ... the pharmaceutical and biotechnology industries to improve patient outcomes and quality of life, ... in analytical testing are being attributed to new regulatory requirements for all new ...
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit ... 7th and 8th June 2018 in San Francisco, CA. The Summit brings together current ... several distinguished CEOs, board directors and government officials from around the world to address ...
(Date:10/11/2017)... ... 2017 , ... A new study published in Fertility and ... in vitro fertilization (IVF) transfer cycles. The multi-center matched cohort study ... comparing the results from the fresh and frozen transfer cohorts, the authors of ...
(Date:10/10/2017)... ... October 10, 2017 , ... Dr. Bob Harman, founder and ... San Diego Rotary Club. The event entitled “Stem Cells and Their ... 300+ attendees. Dr. Harman, DVM, MPVM was joined by two human doctors: Peter ...
Breaking Biology Technology: