BANGALORE, India, Nov. 26, 2019 /PRNewswire/ -- The Global Biometrics Market is expected to grow from USD 14,901.56 Million in 2018 to USD 42,904.56 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 16.30%.
"Thales Group, Safran, and Assa Abloy are placed in forefront due to their excellence in business strategy and product satisfaction"
Biometric technology is a method used to identify and authenticate individuals by analyzing their physical characteristics including fingerprints, face, iris, the geometry of hands, voice, signature, vascular patterns, typing patterns, and others. Compared to other authentication technologies, the solutions used for fingerprint recognition are simple to install and low in cost.
The growth of the fingerprint recognition market can be attributed to the growing demand for fingerprint recognition solutions in e-passport and e-visa travel and immigration applications as well as in the government sector for issuing a driving license.
It is expected that the introduction of cloud-based services and AI for biometric devices will increase the need for related technology to ensure equipment and operating systems compatibility for various applications.
Biometrics system software complements the hardware function by storing and recalling spatial data; it also enables streaming of live data. Biometric systems are connected to computers and networks that are used in applications such as criminal identification at border crossing points.
The positioning of the Global Biometrics Market vendors in FPNV Positioning Matrix are determined by Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) and placed into four quadrants (F: Forefront, P: Pathfinders, N: Niche, and V: Vital).
CLASSIFICATION OF GLOBAL BIOMETRICS MARKET
The global biometrics market is classified into five sections based on
Segments In Global Biometrics Market Based On Region
The report provides details of qualitative and quantitative insights about the major countries in the region and taps the major regional developments in detail.
In the report, we have covered two proprietary models, the FPNV Positioning Matrix and Competitive Strategic Window. The FPNV Positioning Matrix analyses the competitive marketplace for the players in terms of product satisfaction and business strategy they adopt to sustain in the market. The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During the forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisitions strategies, geography expansion, research & development, new product introduction strategies to execute further business expansion and growth.
THE GLOBAL BIOMETRICS MARKET REPORT PROVIDES INSIGHTS ON THE FOLLOWING POINTERS:
Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the Global Biometrics Market
Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the Global Biometrics Market
Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the Global Biometrics Market
Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments in the Global Biometrics Market
Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the Global Biometrics Market
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