Consumer Biometrics Market 2020 – Growth Prospects with Revenue, Product Sales Volume …

Biometrics is a technological and scientific authentication method based on biology and used in information assurance (IA). It is used for security …
  • – Mobile payments are anticipated to experience significant growth over the next few years owing to security, which is a primary concern. Adoption of biometrics will ensure high security in mobile payments. This is expected to influence growth over the next few years.

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    Key Market Trends:

    Smartphones with Fingerprint Sensors Drives the Consumer Electronics to Hold Major Share

    – The biometrics demand in consumer electronics is expected to witness significant growth over the forecast period on account of the increasing demand for biometric technology for access management. Increasing application of biometrics for the purpose of better security has also emerged as one of the major growth drivers in this market.

    – Rising demand for convenience, availability, and reachability of embedded biometrics is expected to be another major factor in driving the adoption of biometrics in consumer electronics. Integration of biometrics with consumer electronics, coupled with its high cost is expected to have a negative impact on growth.

    – Smartphones have witnessed an increasingly growing trend in this technology over the past five years. The technology has moved towards user-friendliness and also became much more affordable for consumers. This technology has been leveraged to facilitate online transactions, authentication, and many other services.

    – The market has driven the attention of the smartphone manufacturers after the launch of iPhone 5S which had a TouchID capacitive technology. Since then, many other next-generation smartphones have incorporated multiple biometric options that users can set for different purposes.

    – The market studied has seen various technological developments in smartphones from a separate fingerprint scanner to an in-display fingerprint scanner. Vivo a Chinese Smartphone brand was the first to implement in-display fingerprint.

    – It is anticipated that many of the big Android phone manufacturers such as One Plus, Vivo, Samsung, Oppo, Xiaomi, especially in Asia-Pacific region, plans to stick with fingerprint ID as the main biometric entry point for the next two years.

    – The rapid growth of the consumer electronics market complemented with the change in consumer preference for new technologies with personalized experience is driving the adoption of the biometrics in the smartphones.

    Asia-Pacific to Witness Highest Growth Owing to the Presence of Huge Consumer Base

    – In Asia-Pacific, biometrics have brought about a radical change in security operations in different places such as airports many airports are investing to adopt automatic facial recognition boarding system saving time and keeping the customers happy. Many companies or enterprises have implemented bring your own device system where identification of the individual will be done by his or her own smartphone using biometric authentication.

    – For instance, Narita International Airport, Tokyo, announced that its passengers will be able to board flights with facial biometrics instead of a passport or boarding pass check starting in spring, 2020.

    – Further, an increase in use of biometric-enabled smartphones is the primary factor driving the biometric technology in the region. The emergence of this technology has also attracted some of the governments in the region to adopt and get the benefits of biometrics. One of the recent projects of biometric was the Indian Aadhar, national ID project which was registered with fingerprint and iris recognition. Bangladesh rolled out their biometric smart ID program recently using 10 fingerprint scan and iris scan.

    Competitive Landscape:

    Most of the companies present in the market are efficient at the technological front but require significant support for enhancing their services and expanding their businesses. Thus, mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.

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    Detailed TOC of Consumer Biometrics Market Report 2020-2024:

    1 INTRODUCTION

    1.1 Study Deliverables

    1.2 Study Assumptions

    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS

    4.1 Market Overview

    4.2 Introduction to Market Drivers and Restraints

    4.3 Market Drivers

    4.3.1 Widening Applications of Biometrics

    4.3.2 Government Initiatives for Implementing Biometrics

    4.4 Market Restraints

    4.4.1 High Infrastructure Implementation Cost

    4.4.2 Data Security and Privacy Concerns

    4.5 Industry Value Chain Analysis

    4.6 Industry Attractiveness – Porter’s Five Force Analysis

    4.6.1 Threat of New Entrants

    4.6.2 Bargaining Power of Buyers/Consumers

    4.6.3 Bargaining Power of Suppliers

    4.6.4 Threat of Substitute Products

    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION

    5.1 By Type

    5.1.1 Hardware

    5.1.2 Software & Solutions

    5.2 By Biometric Type

    5.2.1 Fingerprint and Handscan

    5.2.2 Facial Recognition

    5.2.3 Iris Recognition

    5.2.4 Other Biometric Types

    5.3 By End User

    5.3.1 Government

    5.3.2 BFSI

    5.3.3 Consumer Electronics

    5.3.4 Healthcare

    5.3.5 Security & Defense

    5.3.6 Other End Users

    5.4 Geography

    5.4.1 North America

    5.4.1.1 United States

    5.4.1.2 Canada

    5.4.2 Europe

    5.4.2.1 Germany

    5.4.2.2 United Kingdom

    5.4.2.3 France

    5.4.2.4 Rest of Europe

    5.4.3 Asia-Pacific

    5.4.3.1 China

    5.4.3.2 Japan

    5.4.3.3 India

    5.4.3.4 South Korea

    5.4.3.5 Rest of Asia-Pacific

    5.4.4 Rest of World

    6 COMPETITIVE LANDSCAPE

    6.1 Company Profiles

    6.1.1 IDEX ASA

    6.1.2 Infineon Technologies AG

    6.1.3 CrossMatch Technologies, Inc.

    6.1.4 Suprema Inc.

    6.1.5 NEC Corporation

    6.1.6 ZKTeco Inc.

    6.1.7 Fingerprint Cards AB

    6.1.8 Gemalto NV (Thales Group)

    6.1.9 Touchless Biometric Systems AG

    6.1.10 IDEMIA France SAS

    6.1.11 M2SYS Technology

    6.1.12 Fulcruk Biometric LLC

    6.1.13 EyeLock LLC.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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