biometric systems market is expected to grow at a CAGR of 16.8% during 2016-2021

“GROWING NEED FOR SECURITY ACROSS THE GLOBE AND SIGNIFICANT ADOPTION OF BIOMETRICS IN SMARTPHONE ARE DRIVING THE BIOMETRICS SYSTEMS MARKET”

Indore, Nov 2016:  Orion Market Research (OMR), recently published a market research report on Global Biometric Systems Market.According to OMR analysis the global biometric systems market is expected to grow at a CAGR of 16.8% during 2016-2021. The global biometric systems market is segmented on the basis of technology, function, end user and geography. The report contains detailed & insightful chapters on market overview, key findings, strategic recommendations, market estimations, patent analysis, pipeline analysis, market determinants, sector analysis, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.

Full report of global biometric systems market is available at http://www.omrglobal.com/industry-reports/biometric-systems-market/

“The global biometric systems market is driven by some pivotal factors which include growing need for security, growing adoption of biometric systems in smartphones, healthcare and promotion of e-passport across the globe. Various cohesive government initiatives and funding are also pushing the biometric systems market during the forecast period. A rapid growth in the adoption of biometric systems in e-commerce is creating huge scope for the market.”

North America is dominating the biometrics market due to favorable government policies and security concerns. Other factors include growing adoption of biometric systems in departments such as, defense, homeland security, justice, e-commerce and others. Europe follows North America in terms of market share and expected to contribute significantly in next few years due to rise in immigration which is creating demand for biometric systems for various security purposes. Global biometric systems market is triggered by the security concerns and innovative biometrics technology in the smartphone sector. Cohesive government policies and healthcare reforms are also encouraging the usage of biometric systems. Technological advancement and innovation in biometrics market is also a key growth driver for the market during the forecast period.

Additionally, adoption of biometric systems in various fields such as healthcare, defense, commercial and home security is expected to further drive the market. Growing theft cases and data security concerns are boosting the demand for biometric systems market in this region. APAC is predicted to grow with highest CAGR due to rising adoption of biometric products in varied domains which include healthcare, corporate houses, consumer electronics and so on. Negligence in the adoption of biometric systems due to the complexity and the high cost of installation are some restraints of the APAC biometrics systems market. The biometric systems market has a bright scope in countries such as China, Russia, India and Mexico. This is mainly because of cohesive response by government in these countries. For example, UIDAI project in India is now promoting biometric system equipped with eyes, fingerprints and face biometrics for identification and verification. Similarly, e-KTP electronic ID step in Indonesia is serving the same purpose.

For related reports please visit. http://www.omrglobal.com/reports-category/ict-market/

 

The report covers:
• Comprehensive research methodology of Biometric system market
• In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global Biometric system market
• Insights about market determinants which are stimulating the global Biometric system market
• Detailed and extensive market segments with regional distribution of forecasted revenues
• Extensive profiles and recent developments of market players

About Orion Market Research

Orion Market Research (OMR) is an Indian research company known for its crisp and concise reports. The company is equipped with an experienced team and young brigade of analysts. The company provides quality syndicated research reports, customized research reports, Company profiling, consulting and other research-based services. OMR provide global and regional market reports of various domains such as healthcare, energy, IT, chemicals, and automobiles. OMR provide a 360-degree view of the market with parametric analysis, key market insights, key findings, statistical forecasts, competitive landscape, extensive segmentation, key trends, strategic recommendations and detailed company profiles.

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