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The market for biometrics is propelled by the increasing acceptance of this technological authentication method across the globe. The market is being led by North America, which accounted for a significant portion of the global market share. Many government organisations use these technologies, particularly in e-passport and e-visa programs. Thus, accelerating the market growth. The Asia Pacific is expected to emerge as a major player in the industry due to the increasing proliferation of mobile biometric in countries such as China and India, especially with the rising trend of mobile transactions, which are expected to incorporate biometrics in their designs.
The growing penetration of the technology across both developed and developing regions is further propelling the market growth. BIO-Key International, Inc (NASDAQ: BKYI) is one of the major biometrics companies globally. In November 2019, the company introduced BIO-key Africa, an African subsidiary based in Nigeria, to facilitate the pursuit of large, high-growth biometric security opportunities across the continent. Such expansions by key players in the industry are likely to propel the market growth.
Market Analysis by Technology, Functionality, Component, Authentication, End Use, and Region:
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Accu-Time Systems, Inc., BIO-Key International, Inc., Cognitec Systems, GmbH, Fujitsu Limited, NEC Corporation, and RCG Holdings Limited, among others, are the key players in the global biometrics market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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