HOME Research Insight 3M Cogent, Inc. (U.S.) and NEC Corporation (Japan) are two of the key players in the Biometric System Market

3M Cogent, Inc. (U.S.) and NEC Corporation (Japan) are two of the key players in the Biometric System Market

The biometric system market is expected to reach USD 32.73 Billion by 2022, at a CAGR of 16.79% between 2016 and 2022. The biometric systems are essentially used for the authentication and confirmation of an individual who wants to access the facility or data/information. The government initiative in adoption of biometrics system, integration of biometric technology in smartphones, rising use of biometric technology in financial institutes and healthcare sectors, and increasing use of biometric systems in criminal identification are expected to drive the biometric system market in the near future.

3M Cogent, Inc. (U.S.) and NEC Corporation (Japan) are two of the key players in the biometric system market. 3M Cogent, Inc. (U.S.) ranked first in the biometric system market ranking analysis. A biometric identification solution developed primarily for governments, law enforcement agencies, and commercial enterprises worldwide helps 3M Cogent, Inc. to increase its market share. The company was also involved in contracts. In April 2014, Schneider Electric, France (an energy management company) integrated its “Andover Continuum CyberStation” (an integrated security and building management solutions) with the latest generation “MiY” (a biometric access control reader) of 3M Cogent, Inc. With the help of this contract, 3M Cogent, Inc. can increase the business opportunities and also expand its geographical range. The company is known for successful deployment of identification systems and identity management solutions that allow for real-time identification of individuals in a wide variety of applications such as voting ID, citizen benefits, identity credentialing, and driver licenses, among others.

NEC Corporation (Japan) ranked second in the biometric system market. A wide product portfolio has helped NEC Corporation to be one of the leading players in the biometric system market. The company’s product portfolio ranges from fingerprint, face to vein recognition biometric products. The company’s biometrics products are used for civil IDs, border control, e-passport, and driver license, among others. The company is majorly focused on signing contracts. The company has signed key contracts with multiple police departments of several counties, such as Las Vegas Metropolitan Police Department (LVMPD) and Los Angeles County Sheriff's Department (LASD) and provides biometrics services to these departments, which in turn has helped NEC increase its market share. In May 2016, the company has been selected by the Federal Government agency “Australian Criminal Intelligence Commission” for the sourcing of multi-modal biometric identification system. This contract would further strengthen the business relation with government agencies and lead to potential business opportunities from the government sector.

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

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