Biometric System Market to Witness Huge Growth from 2019-2030 and Focusing on Top Key Players - NEC, Integrated Biometrics, HID Global

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Biometric systems are designed to recognize people based on their biological information such as hand geometry, earlobe geometry, fingerprints, retina, voice waves, DNA, and others. Biometric systems are immensely popular due to the growing adoption of fingerprint-based authentication systems in mobile phones, primarily to unlock them. However, biometric systems have a wide range of applications in the banking & finance industry, especially to make transactions. Hence, key players have been investing heavily in the development of new solutions for the banking & finance industry. For instance, in December 2019, Libya's Assaraya Trade and Investment Bank (ATIB) launched the e-KYC program based on fingerprint and face recognition.

Market Industry Reports (MIR) has published a new report titled "Biometric System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2030." According to the report, the global biometric system market accounted for over US$ 34.25 billion in 2019. The market is anticipated to grow at a CAGR of 14.09% from 2019 to 2030. Biometric systems depend on human characteristics, such as faces, finger veins, palm veins, fingerprints, irises, and voice patterns, to identify human beings. Biometric systems have a wide range of applications in various end-use industries such as banking & finance, consumer electronics, healthcare, automotive, government, and military & defense. The key players have been investing heavily in the development of better solutions. For instance, Panasonic is going to launch the facial recognition technology in the Indian market by 2020

Major Key Players of the Biometric System Market are:NEC Corporation, Integrated Biometrics, HID Global Corporation/ASSA ABLOY AB, SUPREMA, SecuGen Corporation, and FUJITSU, among others

 Read More @ https://www.openpr.com/news/2008175/biometric-system-market-to-witness-huge-growth-from-2019-2030

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