Lucintel's latest market report analyzed that biometric system provides attractive opportunities in the government, commercial, healthcare, and banking sectors. The biometric system market is expected to reach $51.3 billion by 2027 with a CAGR of 12%. In this market, AFIS is the largest segment by technology, whereas government and law enforcement is largest by end use industry. Development of advanced biometric modalities, such as body odor, ear pattern, and lip biometrics and increasing use of advanced biometric sensors provides strategic growth path in this market.
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Based on technology, the biometric system market is segmented into fingerprint, AFIS, iris recognition, facial recognition, hand geometry, vein recognition, signature recognition, voice recognition and others. The AFIS segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to the increasing demand in various law enforcement and civil applications. The voice recognition technology segment is expected to experience the highest growth rate in the forecast period supported by increasing demand from the banking and finance sector in addition to the healthcare sector.
Browse in-depth TOC on “Biometric System Market”
64 – Tables
107 – Figures
181 – Pages
The Biometric System Market is marked by the presence of several big and small players. Some of the prominent players offering biometric system include 3M Cogent, Inc., Safran (Morpho), Hid Global, IDEMIA, NEC Corporation, Thales Group, Bio-Key, International Inc., Precise Biometrics AB., Suprema Inc., IriTech, Inc. and Fujitsu.
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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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