Biometric System Market

Thales (France) and Safran (France) are the Key Players in the Biometric System Market

The biometrics system market is competitive with the presence of big and small players. Major companies have been dominating the market through their brand image, while small players have been offering innovative and low-cost biometrics systems in the market. As of 2017, the overall biometrics system market was dominated by key players such as Safran (France), NEC (Japan) Thales (France), Fujitsu (Japan), ASSA ABLOY (Sweden), Precise Biometrics (Sweden), Aware (US), Secunet Security Networks (Germany), Cross Match Technologies (US), and Stanley Black & Decker (France).

These top players have strong presence in the biometrics system market, along with strong R&D facilities and presence in both mature and emerging markets. The market is estimated to reach USD 41.80 billion by 2023 from USD 16.80 billion by 2018, at a CAGR of 19.99% between 2018 and 2023. Biometric systems are gaining high traction worldwide owing to the growing need for surveillance and security in the private and business sectors. Further, the increasing adoption of voice recognition systems in the banking and financial services are expected to fuel the growth of the market in the coming years.

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Product launches and developments were the key strategies adopted by players to grow and stay competitive in the biometrics system market. These strategies collectively accounted for ~50% of overall growth strategies adopted by players in this market to expand their product portfolio, increase sales and distribution networks, and strengthen their share and position in the biometrics system market. Besides product launches and developments, companies also adopted the strategies of partnership, agreement, and contract. Biometrics system is gaining high traction worldwide owing to the growing need for surveillance and security in the private and business sectors. Government authorities, especially in North America and Europe, among others, have set stringent rules and regulations for the verification of tourist passports. Moreover, the government authorities in most of the regions have also made biometrics authentication mandatory in the passport and other applications.

Thales (France) held the leading position in the biometrics system market. The company operates its business in more than 50 countries across Europe, Asia Pacific (APAC), and the Middle East. On 1 December 2010, 3M, acquired Cogent, which then became a wholly-owned subsidiary of 3M. Later in May 2017, Gemalto acquired the Identity Management business of 3M, including 3M Cogent, 3M Document Readers, and 3M Secure Materials businesses. Gemalto Cogent is a part of the Government Business Unit. This unit serves to more than 100 customers across the globe, which are involved in the programs providing national identity and resident permits, electronic passports, healthcare, tachograph, driver’s license/vehicle registration, and border and visa management. Further, In March 2018, Thales acquired Gemalto (Netherlands), a key player in digital security at USD 61.57 per share cum dividend.

Safran (France) is a global leader in biometrics solutions that enables biometric identification and tomography systems to detect explosives in luggage. The company has a strong position in the biometrics system market, and it is a key player in the smart card segment. Safran, along with its subsidiaries, engages in the aerospace, defense, and security businesses worldwide.

Initially, in 2005, Safran acquired Orga Kartensysteme GmbH (Germany), a smart card specialist company, to strengthen its position in the biometrics system market. Further, by understanding the growing demand for biometric systems worldwide, the company developed advanced technologies to meet the customers’ diversified demand. 

Related Reports:

Biometric System Market by Authentication Type (Single-Factor: (Fingerprint, IRIS, Palm Print, Face, Vein, Signature, Voice), Multi-Factor), Component (Hardware and Software), Function (Contact and Non-contact), Application, and Region - Global Forecast to 2022

Mr. Shelly Singh
MarketsandMarkets™ INC.
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USA : 1-888-600-6441

Report Code
SE 3449
Published ON
Jul, 2018
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