Biometric Technologies Market
Global Biometric Technologies Market size was valued at US$ 37.57 Bn. in 2021 and the total revenue is expected to grow at 14.1% through 2022 to 2029, reaching nearly US$ 107.92 Bn.
Biometric Technologies Market Overview:
The Biometric Technologies market research provides a comprehensive perspective of the competition, including the market share and company profiles of the top players in the global industry. The scope of the research covers a thorough examination of the Biometric Technologies Market, as well as the causes for variances in the industry's growth in a variety of sectors.
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Market Scope:
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are computed using weights assigned to each segment based on usage rate and average sale price. To determine the country-wise splits of the overall market and its sub-segments, the percentage adoption or usage of the given market Size in the relevant area or nation is employed.
Segmentation: Hardware and software are the two market segments for biometric technologies. As we require separate hardware equipment to scan different biometrics, such as a finger print scanner for AFIS & Non-AFIS biometrics, a camera and sensor for Iris Scanning, etc., hardware currently has the lion's share of the biometric technologies market, accounting for 55% of it in 2021.
Key Players:
Secondary research is used to identify market leaders, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the leading manufacturers' annual and financial reports, whilst primary research included thorough interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.
The biggest players in the Biometric Technologies market are as follows:
- • Thales Group (Paris)
• Idemia (France)
• ASSA ABLOY (Sweden)
• NEC Corporation (Japan)
• Fujitsu (Japan)
• Precise Biometrics (Sweden)
• Secunet Security Networks AG (Germany)
• Stanley Black & Decker Inc. (France)
• Aware Inc (US)
• Cognitec Systems GmbH (Germany),
• Daon, Inc. (US)
• DERMALOG Identification Systems GmbH (Germany)
• Neurotechnology (Lithuania)
• Innovatrics (Slovakia)
• Veridos GmbH (Germany)
Regional Analysis:
Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Biometric Technologies market study's regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.
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COVID-19 Impact Analysis on Biometric Technologies Market:
End-user industries where Biometric Technologies are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Biometric Technologies manufacturers, affecting the Biometric Technologies market's growth in 2020. End-user business demand for Biometric Technologies has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Biometric Technologies Market Report are:
- In 2021, which segment accounted for the most share of the Biometric Technologies market?
- What is the competitive landscape of the Biometric Technologies market?
- What are the key factors influencing Biometric Technologies market growth?
- In the Biometric Technologies market, which region has the most market share?
- What will be the CAGR of the Biometric Technologies market during the forecast period (2022-2027)?
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