The growing demand for Biometric Technology has provided a major boost to the Global Biometric Technology Market as more people are shifting their preferences to this growing sector. The market is expected to keep rising at a high CAGR and reach values of high millions by the end of the forecast period of 2020 up to 2024.
Overview of Global Biometric Technology Market:
Biometric technologies generally refer to the use of technology to identify a person based on some aspect of their biology. Fingerprint recognition is one of the first and original biometric technologies that have been grouped loosely under digital forensics. Biometrics is the technical term for body measurements and calculations. It refers to metrics related to human characteristics. Biometrics authentication is used in computer science as a form of identification and access control. It is also used to identify individuals in groups that are under surveillance.
The report contains a complete product overview and its scope in the market to define the key terms and provide the clients a holistic idea of the market and its tendency. It comprehensively evaluates the global Biometric Technology market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects.
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Growth in the historic period resulted from economic growth in emerging markets, the rise in awareness of the benefits and developed nations towards Biometric Technology costs and an increase in the number of device with technical term for body measurements and calculations.
Product Type Segmentation:
The Biometric Technology market have different product type such as Based on physical characteristics and Based on behavioral characteristics. Biometric Technology market product type gives device with technical term for body measurements and calculations.
Industry Segmentation:
Increasing instances across various sectors such as Public sector, Banking & financial sector, Healthcare, IT & telecommunication and Others (hospitality, retail, automotive) are raising the need of healthcare institutes, thereby raising the demand for Biometric Technology market. This help in the profitable growth of the Global Biometric Technology market in upcoming year.
Segmentation by Regions:
The Biometric Technology market in North America has created device with technical term for body measurements and calculations to help healthcare in the world. It was followed by Western Europe, China, Japan, Southeast Asia, India and Central & South America regions. Asia Pacific is expected to record higher growth rate in Biometric Technology Market during the forecast year.
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Top Leading Key Manufacturers are: 3M Company (Cogent Systems, Inc.), Fujitsu Frontech Limited, ImageWare Systems, Inc., Suprema, Inc., Safran S.A., secunet Security Networks AG, Thales S.A., BIO-key International Inc., NEC Corporation, Precise Biometrics. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Top Industry News:
Fujitsu Frontech North America, Inc. Completes Acquisition of Fulcrum Biometrics, LLC on April 02, 2020 – Fujitsu Frontech North America, Inc., a wholly owned subsidiary of Fujitsu Frontech Limited, a leading provider of innovative technology and IT-based business strategies and applications, announced the acquisition of Fulcrum Biometrics, LLC, Texas-based biometric hardware, software and solutions provider. With the close of this acquisition, Fujitsu Frontech North America, Inc. and Fulcrum Biometrics, LLC form the industry's premier provider of biometric authentication and access management solutions.
This transaction represents a significant commitment by Fujitsu Frontech North America, Inc. to strengthen its biometrics business in North America and global identity management markets, including multi-factor authentication mandates imposed by new state and federal laws regarding the ability of financial institutions and healthcare providers to share patient information. Fujitsu will not only improve its product offerings for financial institutions and healthcare providers, but will also expand its biometric business globally by providing secure and hygienic identification solutions for government, business and private sectors. With touchless, biometric identification technologies like its PalmSecure® palm vein technology, Fujitsu continues to contribute to a more secure society, offering exceptionally hygienic contactless identification solutions.
Fulcrum Biometrics, LLC has been offering cutting-edge biometric authentication solutions and live scan civil applicant background checking and criminal booking systems to government and private industry users since its founding in 2002. The company will continue to operate under the leadership of Ken Nosker as Chief Executive Officer, and its portfolio of innovative biometric solutions will play a key role in providing applications that combine Fujitsu's PalmSecure identification with other biometric modalities, including fingerprint, face, iris and voice recognition.
"The acquisition of Fulcrum Biometrics, LLC will further strengthen our competitiveness in a market where digital innovation is advancing at an unprecedented pace. Together with Fulcrum Biometrics, LLC, we will expand our business beyond just palm vein authentication and offer a wider range of multi-modal biometric solutions that will deliver increased levels of accuracy and security, which both our North American and global customers are requiring," said Michi Sugawara, President and CEO of Fujitsu Frontech North America, Inc.
"We are extremely pleased to partner with Fujitsu Frontech North America, Inc. as we push to simplify the inclusion of biometrics into any new or existing mobile, desktop, or web-based application. This transaction and Fujitsu's commitment to aggressively pursue multi-modal biometric solutions in partnership with Fulcrum paves the way for both companies to excel as the leading providers of cutting-edge biometrics. This partnership will not only benefit the companies' customers, but will also strengthen Fulcrum's longstanding partnerships with its technology providers as we create a formidable alliance that will allow Fulcrum to gain market share and aggressively expand into new markets," said Ken Nosker, President and CEO of Fulcrum Biometrics, LLC.
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Major Points in Table of Contents:
1 Biometric Technology Product Definition
2 Global Biometric Technology Market Manufacturer Share and Market Overview
2.1 Global Manufacturer Biometric Technology Shipments
2.2 Global Manufacturer Biometric Technology Business Revenue
2.3 Global Biometric Technology Market Overview
3 Manufacturer Biometric Technology Business Introduction
3.1 3M Company (Cogent Systems, Inc.) Biometric Technology Business Introduction
3.1.1 3M Company (Cogent Systems, Inc.) Biometric Technology Shipments, Price, Revenue and Gross profit 2014-2019
3.1.2 3M Company (Cogent Systems, Inc.) Biometric Technology Business Distribution by Region
3.1.3 3M Company (Cogent Systems, Inc.) Interview Record
3.1.4 3M Company (Cogent Systems, Inc.) Biometric Technology Business Profile
3.1.5 3M Company (Cogent Systems, Inc.) Biometric Technology Product Specification
3.2 Fujitsu Frontech Limited Biometric Technology Business Introduction
3.2.1 Fujitsu Frontech Limited Biometric Technology Shipments, Price, Revenue and Gross profit 2014-2019
3.2.2 Fujitsu Frontech Limited Biometric Technology Business Distribution by Region
3.2.3 Interview Record
3.2.4 Fujitsu Frontech Limited Biometric Technology Business Overview
3.2.5 Fujitsu Frontech Limited Biometric Technology Product Specification
3.3 ImageWare Systems, Inc. Biometric Technology Business Introduction
3.3.1 ImageWare Systems, Inc. Biometric Technology Shipments, Price, Revenue and Gross profit 2014-2019
3.3.2 ImageWare Systems, Inc. Biometric Technology Business Distribution by Region
3.3.3 Interview Record
3.3.4 ImageWare Systems, Inc. Biometric Technology Business Overview
3.3.5 ImageWare Systems, Inc. Biometric Technology Product Specification
3.4 Suprema, Inc. Biometric Technology Business Introduction
3.5 Safran S.A. Biometric Technology Business Introduction
3.6 secunet Security Networks AG Biometric Technology Business Introduction
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