Global Biometrics Market 2019-2023
About this market
Rising adoption of prefabricated construction solutions is likely to drive market growth. The popularity of prefabricated structures has been rapidly increasing across the world due to low cost and time savings. The various components or sections of buildings are fabricated under a controlled environment in a manufacturing facility and transported to the construction site for final assembly in prefabricated construction. Technavio’ s analysts have predicted that the decking market will register a CAGR of over 6% by 2022.
Changing lifestyles and increasing use of outdoor living spaces
Decking is used to extend residences and landscape gardens. Backyard decks are popular among residences in the US and Canada for lounging and dining. Residential buyers also prefer decking due to its aesthetic properties and low cost.
Fluctuating cost of timber
The furniture industry generates a significant demand for wood. Fluctuations in the supply of wood and the increasing cost of timber affect the wooden segment of the global decking market.
For the detailed list of factors that will drive and challenge the growth of the decking market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Universal Forest Products and UPM the competitive environment is quite intense. Factors such as the rising adoption of prefabricated construction solutions and the changing lifestyles and increasing use of outdoor living spaces, will provide considerable growth opportunities to decking manufactures. CRH, West Fraser, Trex Company, Universal Forest Products, and UPM are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global biometrics Market 2019-2023
Technavio recognizes the following companies as the key players in the global biometrics market: ASSA ABLOY, Gemalto, M2SYS Technology, NEC, and Safran.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rise in popularity of face and voice recognition biometrics in BFSI sector.”
According to the report, one of the major drivers for this market is the increasing government initiatives for implementing biometrics.
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