Biometrics Technology Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2028

The report on the global biometrics technology market provides qualitative and quantitative analysis for the period from 2022 to 2028. The report predicts the global biometrics technology market to grow with a CAGR of over 15% over the forecast period from 2022-2028. The study on biometrics technology market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2022 to 2028.

The report on biometrics technology market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global biometrics technology market over the period of 2022 to 2028. Moreover, the report is a collective presentation of primary and secondary research findings.

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global biometrics technology market over the period of 2022 to 2028. Further, Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.

Report Findings

1) Drivers

• Increasing utilization of biometric technology in consumer electronics is the major factor driving the growth of the market
• Increasing adoption of digital technologies and advanced connected devices will drive market growth.

2) Restraints

• Lack of technical knowledge and data security concerns will restrain the market growth.

3) Opportunities

• Advancements in biometric solutions made for identification and authentication applications will create new growth opportunities.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global biometrics technology market is segmented on the basis of component, application, and end use.

The Global Biometrics Technology Market by Component

• Hardware
• Software

The Global Biometrics Technology Market by Application

• Identification & Access Control
• Security & Surveillance
• Payments
• Image Database Investigation
• Others

The Global Biometrics Technology Market by End Use

• Government
• Commercial Centers and Buildings
• Medical and Research Labs
• Banking, Financial Services Sector
• Defense and Security

Company Profiles

The companies covered in the report include

• NEC Corporation
• ZOLOZ CO., LTD.
• David-Link
• Suprema, Inc.
• Accu-Time Systems, Inc.
• Precise Biometrics AB
• Bio-Key International, Inc.
• Thales S.A
• Fujitsu Frontech Limited
• Others

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the biometrics technology market.
2. Complete coverage of all the segments in the biometrics technology market to analyze the trends, developments in the global market and forecast of market size up to 2028.
3. Comprehensive analysis of the companies operating in the global biometrics technology market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

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