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Report ID: SQMIG45I2142
Report ID:
SQMIG45I2142 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|
Tables:
147 |
Figures:
78
The global biometrics market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. During the forecast period, the market in APAC will grow at the fastest CAGR. China, Japan, India, Australia, South Korea, and the rest of APAC make up the APAC biometric system market. Because of the rapid economic growth in major countries such as China, Japan, India, and South Korea, the presence of prominent biometric system manufacturers such as Fujitsu and NEC Corporation is expected to contribute to this region's revenue share. The growth of the APAC biometric system market can also be attributed to technological advancements, increased public awareness of the use of biometric systems for security purposes, and lower costs of devices based on these technologies. Increasing mobile payment transactions, as well as increased private corporation and government initiatives to adopt biometric authentication systems, are expected to be major drivers for the region's biometrics market. China is at the forefront of the global digital payment revolution, according to the Center for Strategic and International Studies Report (CSIS) 2021.
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REQUEST FREE CUSTOMIZATIONBiometrics Market size was valued at USD 33.18 billion in 2019 and is poised to grow from USD 39.15 billion in 2023 to USD 127.32 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).
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Report ID: SQMIG45I2142