Impact Of Fraud, Terrorism & Cybercrime Is Evolving The Global Biometrics Market During The Years 2019-2027

Triton Market Research presents the Global Biometrics Market report segmented by Type (Fixed and Mobile), its Technology (Fingerprint Recognition, Iris Recognition, Facial Recognition, Hand Geometry, Vein Analysis, Voice Recognition, DNA Analysis, GAIT Analysis, Electroencephalogram (EEG)/Electrocardiogram (ECG) and Other Technologies), by End-user Industries (Government, Transportation, Healthcare, Banking, Financial Services & Insurance (BFSI), Retail and Other End-User Industries), by Geographical Region (North America, Europe, Asia Pacific and Rest of World), discussing Industry Value Chain Analysis, Porter's Five Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).

Biometrics technology is used to analyze and validate individual characteristics like DNA, fingerprints, iris pattern, voice dynamics and hand geometry recognition. The tech’s major utilization lies with security and authentication procedures since forging biometric data can be tough. The increasing numbers of terrorist attacks have urged the need for advanced security through e-passports to enhance the security infrastructure for public safety, prevent the loss of confidential data and protect government installations, thus propelling the growth of the biometrics market across the world. Correspondingly, Triton Market Research report on global biometrics technology depicts that the market is developing at a compound annual growth rate approximately at 16.76% during the forecast period (2019-2027).

The technology provides quick & accurate results for identification, minimizes the openings for deception, keeps the corresponding record of physical characteristics of individuals to determine the criminal identity (if any) and checks the background of the applicant in verification processes for passports at airports and borders. These benefits are a godsend for the quick uptake of biometrics in various governmental bureaus. But the emergence of mobile biometrics technology primarily in smartphones and personal digital assistants provide a major driver for the biometrics market growth.

Rising government expenses on defense & security, a growing number of travelers and the advent of various international events such as UAE’s World Expo 2020, Tokyo Summer Olympics 2020, etc. are some of the major drivers heightening the worldwide demand of the biometrics market. The requirement of biometrics is raised in North America as demand for developed security precaution has risen after the 9/11 terrorist attacks, thus making it the leading economy by market share in global biometrics market, followed closely by the Asia Pacific and Europe.

The global biometrics market is filled with many emerging and leading companies in the current worldwide economy. Some of the companies like Aware Inc., BioMed, Crossmatch Technologies, Fujitsu, Gemalto NV, Hid Global, Imageware Systems, Iris ID, Iritech Inc., M2sys Technologies, Mistral Solutions Inc., NEC, Safran, Siemens AG and VFS Global are specifically working for manufacturing biometrics technology end products, whereas, some of them are having a specialized segment of biometrics devices and products.