Redding, California, July 04, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, “Biometric System Market by Offering, Biometrics Type (Fingerprint Recognition, Voice Recognition), Contact Type, Authentication Type, Platform, Application, End User (Government, Military & Law Enforcement, and Others)– Global Forecast to 2029”, the global biometric system market is expected to grow at a CAGR of 12.4% from 2022 to 2029 to reach USD 51.6 billion by 2029.
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Biometrics refers to the measurement and statistical analysis of an individual’s unique physical and behavioral characteristics. It is mainly used for identification and access control or for identifying individuals who are under surveillance. It is a widely adopted technology for perceiving identity thefts, unauthorized access, or documentary fraud.
Several industries and organizations, including government, BFSI, military, and healthcare, are deploying this technology on a considerable scale. Growing demand for mobile biometrics devices, rising government initiatives for biometrics technology, increasing use of biometric technology in consumer electronics for authentication and identification applications, and growing need for security measures are the key factors driving the growth of the biometric systems market. However, the substantial costs associated with biometric systems…
