PUNE, MAHARASHTRA, INDIA, January 12, 2018 /EINPresswire.com/ —
WiseGuyReports published new report, titled “Global Biometric Authentication & Identification Market”
Global Biometric Authentication & Identification has emerged as one of the fastest growing market around the globe. As the population and organizations are becoming more concerned towards the cyber security and safety, biometric authentication and identification provides a secure terminal which helps to keep place and data safe from unauthorized access. In fast couple of years, the physical security breaches have increased and due to this the global market of Biometric Authentication & Identification has rose sharply. The global market of Biometric Authentication & Identification has been valued at US $11.76 billion in the year 2015 which is expected to grow at US $25.31 billion by end of forecasted period with CAGR of 16.56%.
By Geography, The market is dominated by North America which has been valued at US $3.78 billion in year 2015 and expected to become the second largest by the end of forecast period. However, Asia-Pacific is expected to grow at rapid CAGR of 19.92% during the forecast period and also APAC region is expected to become market leader by the end of forecast period as the demand for Consumer Electronics is increasing in these regions. Asia-Pacific is expected to reach at market size of US $7.65 billion by 2020 from US $3.09 in 2015.
The Key Players in the market of are- 3M, Anviz Global Apple, Inc., Aware Inc., Bio-Key International, Inc., Cognitec Systems, Crossmatch Technologies, Diamond Fortress Technologies, Fingerprint cards AB, Fujitsu Global, Fulcrum Biometrics, HID Global, Iris ID Systems, Inc., Kaba Group, M2SYS Technology, Morpho S.A., NEC Corporation, Precise Biometrics AB, Sensory, Inc., S.I.C. Biometrics Inc., Synaptics Inc. and Tyco International Ltd. among others.
Global Biometric Authentication & Identification Market Analysis & Forecast, From 2016 To 2022
• To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the global Biometric Authentication & Identification market
• Upcoming technologies, high growth geographies and countries were identified
• Regional and country specific demand and forecast for Biometric Authentication & Identification were studied
• Key segments covered in the report are: Modality, Motility, Application and Geography.
• Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
• For all the regions: forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
• Historical trend is identified to forecast and estimate the future value data
• Biometric Device Manufacturers
• Biometric Device Suppliers
• Software Developers
• Private Institutions
• Security Service Providers
• The Global Authentication & Identification Market is expected to grow at CAGR of 16.56% from 2015 to 2020.
• The fingerprint modality dominated the market in 2014 and is expected to grow over $10.90 billion by the end of the forecast period
• By Applications, The Government segment accounted for $5.1 billion in 2015 and is estimated to grow at a CAGR of 10.79% from 2015 to 2020
• By Region, Asia-Pacific is expected to dominate the market by end of forecast period.
Regional and Country Analysis of Biometric Authentication & Identification Market Estimation and Forecast
North America has been the largest contributor to the revenue in the global market and is expected to grow over $7.20 billion by 2020. Asia-Pacific is expected to grow at a CAGR of 19.92% from 2015 to 2020 and dominate the market. The demand of biometrics product in this region is due to the government initiative of nationwide enrolment and ID issuance in countries such as India and China. Also, in Japan a huge number of biometrics ATMS have been deployed and still the process is going on.
The reports also cover country level analysis:
• North America
• Asia – Pacific
• Rest of the World
o Middle East
o Saudi Arabia
o Latin America
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Source: EIN Presswire