Biometric System Market

Market Leadership - Biometric System Market

The global biometric system market size is expected to grow from USD 33.0 billion in 2019 to USD 65.3 billion by 2024, at a CAGR of 14.6%. Major factors driving the market growth include the increasing use of biometrics in consumer electronics devices to provide seamless access over different applications, rising number of government initiatives to adopt biometrics, growing need for surveillance and security due to the threats of terrorist attacks, and increasing penetration of biometric technology in automotive and enterprise applications.

Key players in the biometric system market include Thales (France), Safran (France), NEC (Japan), ASSA ABLOY (Sweden), Fujitsu (Japan), Precise Biometrics (US), Secunet (Germany), STANLEY Security (France), Aware (US), and Cognitec Systems (Germany).

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Top 2 players in biometric system market are:

THALES (FRANCE)

Thales ranked first in the biometric system market. With a diversified market presence and global reach, Thales is not dependent on any single market or customer. As a part of its growth strategy, Thales believes in driving sales growth by bringing competitiveness and differentiation in products and services. Thales is always keen to grab any opportunity to acquire businesses to build necessary capabilities or capacities. In March 2018, Thales acquired Gemalto, a key player in digital security, for USD 5.5 billion (USD 61.57 per share cum dividend). Under this agreement, Thales combined its digital assets with Gemalto and increased the R&D investments in digital security businesses. In June 2019, Gemalto acquired Green Bit S.p.A., a provider of biometric scanners based in Italy, to enhance biometric capture capabilities. With improved capabilities and technological strength, the company now focuses on the entire critical decision chain in an increasingly interconnected and vulnerable world, with capabilities spanning software development, data processing, real-time decision support, connectivity, and end-to-end network management.

SAFRAN (FRANCE)

Safran ranked second in the market. It is one of the leading companies offering biometric solutions for morphological, biological, and behavioral solutions. The company is a global leader in biometrics solutions that enable biometric identification and tomography systems to detect explosives in luggage. Safran has a strong position in the biometric system market, and it is a key player in the smart card segment. The company caters to various end-use applications, such as mobile applications, public security, and connected objects. It actively partners with several other key companies involved in the security business. For instance, in February 2019, Safran-owned IDEMIA partnered with Infineon (Germany) and pmdtec (Germany) to provide an end-to-end 3D face recognition solution for OEM and system integrators. This joint solution is optimized and ready to be incorporated into any device, such as smartphones, tablets, or PCs, to allow user authentication for unlocking and securing mobile payments.

Related Reports:

Biometric System Market by Authentication Type (Single-Factor: Fingerprint, Iris, Palm Print, Face, Voice; Multi-Factor), Offering (Hardware, Software), Functionality (Contact, Noncontact, Combined), End User, and Region - Global Forecast to 2024

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Report Code
SE 3449
RI Published ON
10/23/2019
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