Biometrics and Identity Management Market Size, Share, Trends and Analysis

According to Stratistics MRC, global biometrics and identity management market is expected to grow from $12.15 billion in 2015 to $37.8 billion by 2022 at a CAGR of 17.6%. Security concerns due to increasing crimes and terror attacks, government initiatives to implement biometrics in a variety of fields are the factors influencing the market growth. Furthermore, advantages associated with data redundancy, multi-level security, convenience and advanced quality are the factors fueling the market growth. However, fear of privacy intervention, inconvenience and high cost of biometric devices are the factors restraining the market.

Among the application, Banking and Financial institutions segment is expected to witness high growth rate during the forecast period. North America accounted for the largest share in global biometrics and identity management market followed by Europe. Asia Pacific is expected to witness fastest growth on account of rising concerns of safety & security and increasing government projects.

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Some of the key players in global biometrics and identity management market include Kaba group, 3M Cogent Inc., ACTAtek Ltd., Allegion Plc, Anviz global Plc, Apple Inc., Authentec Inc., Aware Inc., Bio-Key International inc., Cognitec Systems GmbH, Crossmatch Technologies Inc., Diamond Fortress Technologies, ePortID, NGER Print Cards AB, Fujitsu global Ltd., Fulcrum Biometrics Plc, Herta Security S.L, Hid global, Iris Id Inc., Iritech Inc., M2sys technology LLC, Morpho group, Nec Corporation, Precise Biometrics AB, S.I.C. Biometrics Inc., Securax Tech Pvt. Ltd., Sensory Inc., Synaptics Inc., Tyco International Ltd., and Watchguard Inc.

Motility Covered:

Mobile

Fixed

Modality Covered:

Components

Quality Assessment

Data Storage

Input Extraction (Sensors & Detectors)

Transmission & Signal...