(2020 - 2023) Global Biometric Scan Software Market is Anticipated to Reach US$ 10.48% Billion by 2023

Biometric Scan Software Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Biometric Scan Software market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Biometric Scan Software Market report is anticipated to register a CAGR of 10.48% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Biometric Scan Software Market are –

  • BioEnbale Technologies
  • Fujitsu Ltd
  • 3M Company
  • NEC Corp
  • M2SYS Inc.
  • Suprema Inc.
  • Siemens AG
  • Image Ware Systems
  • SIC Biometrics Inc.
  • Precise Biometrics Corp
  • Safran Ltd.
  • ZK Software Solutions
  • Apple Inc.

The global biometric scan software market is expected to register a CAGR of 10.48% during 2020 - 2023 (the forecast period). Currently, most organizations are forced to be content with existing security mechanisms and the recent increase in the number of cyber security issues and password breaches are posing serious concerns, eventually causing huge monetary and resource losses. The growth in the study of biometrics has instigated better security authentication technology when compared to other security methods. The growing need for stringent security regulations in many sectors of the society has generated tremendous interest in biometrics, which has raised the expectations from biometric scanning technologies. Petty thefts, bank robberies, stealing motor vehicles, electronic thefts, such as identity thefts, are accelerating at different levels and emerging as nightmares to the contemporary global security environment. These dynamics are expected to boost the market for the biometric scan software over the forecast period.

Integration of Biometrics in Smartphones is Rising the Demand

The meteoric rise in demand for smartphones is widely considered one of the primary drivers for the growth of biometric scan software market. Companies, like 3M, NEC, and M2SYS, among others, are offering biometric scan software solutions in mobile gadgets. Failing to safeguard information in these digital assets has resulted in financial losses and irreparable damage critical information in the device. Recent government policies in countries, like India and China, are encouraging people to move away from printed currency notes and coins to mobile app-based monetary transactions. These policies offer promising prospects for biometric security applications, thus boosting the biometric scan software market over the forecast period. The advent of mobile applications, for financial transactions, has created a robust demand for biometric authentication in mobile gadgets. The United Kingdom has been the most prominent market for biometrics in the payments industry, where fingerprint authentication and iris scanning have been identified as the most preferred biometrics.

Healthcare Sector Expected to Dominate the Market Landscape

Biometrics in the healthcare industry is expected to drive technological transformation within the global biometric scan software market. Studies prove that biometric solutions in hospitals provide a secure access to information and meaningful cost saving through fraud reduction. Biometric scanning technologies are fuelling developments and improvements in the care delivery system in the healthcare sector. Moreover, incremental innovations in the field of communication have led to the use of IoT, thus improving the healthcare management system. These technologies are likely to fuel up the demand for security systems, like biometric scanners, over the forecast period.

North America to Dominate the Market

After the major watershed incident during 09/11, the US congress resolved to increase the security around the borders and inside the country. The amount of biometrics collected in the United States has seen an exponential growth over the past 12 years. Many investments were made by the US government in R&D activities to develop biometric identification systems and acquisitions of the companies offering the same. The department of homeland security has spent around USD 135 million on biometrics till present. Owing to the increasing security breaches, a number of biometrics has come into existence. The major driving factor behind the investments has been the continuous evolution and application of new technologies, to unlock enormous volumes that were previously considered non-commercial. With these series of investments, government, defense, and BFSI applications in North America is set to boom over the next five years.

Major Players: BIOENBALE TECHNOLOGIES, FUJITSU LTD, 3M COMPANY, HONEYWELL INTERNATIONAL INC, NEC CORPORATION, M2SYS INC., SUPREMA INC., SIEMENS AG, IMAGE WARE SYSTEMS, SIC BIOMETRICS INC., PRECISE BIOMETRICS CORP., SAFRAN LTD, ZK SOFTWARE SOLUTIONS, AND APPLE INC., amongst others.

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Scope of the Report:

The report analyses Biometric Scan Software market, which includes –

  • Analysis of the growth of Biometric Scan Software market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Biometric Scan Software market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Biometric Scan Software market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Biometric Scan Software market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Biometric Scan Software Market Report:

  • Varying dynamics of the Biometric Scan Software industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Biometric Scan Software market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Biometric Scan Software market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Biometric Scan Software Market Report:

  • The report analyses how stringent emission control norms will drive the global Biometric Scan Software market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Biometric Scan Software market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Biometric Scan Software:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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