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The Global biometric system market size is projected to grow USD 36.6 billion in 2020 to USD 68.6 billion by 2025; it is estimated to grow at a CAGR of 13.4% during the forecast period .This report spread across 211 Pages, Profiling 23 Companies and Supported with 110 Tables and 48 figures are now available in this research.
Top Key Players Profiled in the Biometric System Market:
- Thales (France)
- Safran (France)
- NEC (Japan)
- ASSA ABLOY (Sweden)
- Fujitsu (Japan)
The growing demand for multi-factor authentication is attributed to the rising need for additional security against the theft of sensitive data, especially in government and defense verticals. Combining multiple identifiers adds an extra level of protection, making the system more effective, accurate, and reliable.
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The use of fingerprint recognition technology is prominent in government vertical. Biometric systems are mainly used in elections to reduce fraudulence in the form of fake or bogus voting. The use of biometric technology in elections not only resolves the problems of voter fraud but also restores political stability in the country by preventing voter duplication.
“RoW to be the fastest-growing market for biometric system during the forecast period”
The biometric system market in RoW has been further segmented into the Middle East & Africa and South America. In 2019, RoW held a share of 9.4% of the overall biometric system market. The Middle East is one of the fastest-growing economies in the world in terms of infrastructure, electronics industry, and other technological advancements.
Breakdown of primary participants’ profile:
- By Company Type – Tier 1– 42%, Tier 2– 34%, and Tier 3 – 24%
- By Designation – C-level Executives – 22%, Directors – 45%, and Others – 33%
- By Region – North America–25%, Europe – 18%, APAC – 47%,and RoW – 10%
Competitive Landscape of Biometric System Market:
2 Market Share Analysis: Market
3 Company Evaluation Matrix
3.2 Emerging Leaders
3.3 Pervasive Players
4 Startup/Sme Evaluation Matrix, 2019
4.1 Progressive Companies
4.2 Responsive Companies
4.3 Dynamic Companies
4.4 Starting Blocks
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