European Biometrics Market, Forecast to 2023
This research analyzes the European biometric market across government and commercial segments. The government segment includes application such as border control, e-ID, and law enforcement. The commercial segment includes applications such as physical, logical security, and surveillance. The growing physical and cyber security attacks as well as trends such as Internet of Things (IoT) and regulations are stoking demand for biometric technology. Fingerprint modality is the dominant modality across all government and commercial applications as it is less expensive than other modalities. However, 2017 saw facial biometrics make a breakthrough, particularly in the banking and finance domain. Growth of digitization across different industries is driving the need for a robust cybersecurity system. IoT is changing the way business is being conducted across different industries as a result of changing customer dynamics. Customers are increasingly using smartphones for commerce and banking. The growing risk of identity theft and fraud is intensifying interest in biometrics. Customers are demanding the highest level of security without any drop in the levels of convenience. This trend has resulted in and will continue to drive growth opportunities for biometrics.
The technologies involved include fingerprint, face, iris, vein, voice, and others. The biometrics market revenue calculation includes hardware and software. The study is segmented by government and commercial.
The study provides the overall market size of each segment for 2018 and a revenue breakdown by technology, application, and vertical markets. It focuses on various market dynamics, challenges, Mega Trends, market trends, product analysis, and other factors that are likely to drive market growth. The base year of the study is 2018, with forecasts up to 2023. It offers a thorough analysis of the competitive landscape with a SWOT analysis of top companies.
Key Issues Addressed
Is the market growing? How long will it continue to grow for and at what rate?
Are the existing competitors structured correctly to meet customer needs?
What are the key trends and how does it impact this market?
How will the structure of the market change with time? Is the market ripe for acquisitions?
Are the products/services offered meeting customer needs or is additional development needed?
This research will present key market participants with business intelligence to help them understand the future of the biometrics market in the verticals covered.