Biometric Authentication Identification Market size was valued at USD 28.4 billion in 2022 and is expected to grow to USD 82.15 billion by 2030 and grow at a CAGR of 14.2% over the forecast period of 2023-2030.
Biometric Identification and Authentication Government, consumer electronics, and commerce are examples of market segments depending on application. The market was controlled by the government sector.
Mass production drives down prices, which is exactly what is happening with biometric recognition systems right now. As the number of biometric system implementations increased, mass manufacture of biometric systems became necessary, cutting prices. A biometric system's price is governed by factors such as brand, certifications, waterproofing, sensor type, and so on. A simple USB fingerprint scanner costs as little as $50, while a sophisticated ten-finger scanner with live finger detection capability costs as much as $2500.
Prices are expected to decline further as production and completion ramp up. The global average selling price of mobile fingerprint sensor volumes is predicted to fall to $2.5 per unit in 2022, down from $5.9 in 2022. For example, to facilitate data flows, the EU introduced interoperability rules for multi-model biometric systems in August 2021. The Multiple Identity Detector (MID) database checks a number of other databases to see if the identity data for a particular person is there. The information for which the search was conducted is available in more than one information system.
Advances in cutting-edge AI hardware and software
The growing integration of biometric systems with IoT devices is likely to drive future market revenue development. Biometric authentication is a novel method of protecting Internet of Things (IoT) devices. Behavioral biometrics collects vital data sets from now-common smartphones and IoT devices in order to identify a person. The data becomes richer as additional IoT-connected devices are deployed, allowing for continuous authentication while the device is in use. Furthermore, as e-passports become more widely used, demand for biometric systems is likely to rise, propelling market expansion in the future years.
Biometrics Integration in IoT Devices
RESTRAIN:
Fragmentation is high.
The Global Biometrics Authentication Systems Market is highly fragmented, with a few conglomerates and medium-sized and tiny start-ups accounting for the vast majority of global market share. Lower entry barriers, a lack of economies of scale, and severe market competition are all factors contributing to the fragmentation of the Global Biometrics Authentication Systems Market. A fragmented market will benefit businesses with lower margins and higher costs. They also lack the benefit of scale when interacting with other countries.
OPPORTUNITY:
Biometric identification technology advancements
Biometric solutions have experienced great technological developments in recent years. Sensing technology advancements, as well as the widespread use of devices such as computers and cellphones, have created new opportunities for capturing physiological and behavioral features of individuals and evaluating the data for biometric authentication. Machine learning and artificial intelligence technologies are introducing new choices for intelligently and automatically spotting any unusual behavior, as well as giving an additional layer of authentication, if necessary, to improve behavioral biometrics.
Mobile biometric technology combined with cloud-based biometric solutions
Software developers are merging mobile biometric technologies with cloud-based biometric solutions to speed up the verification process. Saving biometric data on the cloud is a more secure alternative than storing it locally.
Cloud computing technology enables businesses to easily scale up or down their IT requirements as needed. This allows firms to fulfill their growing demands without having to make costly changes to their existing IT systems.
CHALLENGES:
Concerns about data security and a lack of technical knowledge
Because of worries about hygiene and a lack of comprehension of the system, many people are hesitant to adopt biometrics technologies. Inadequate understanding of how biometric systems function, as well as the possibility of data leakage, causes users worry, impacting their acceptance and adoption of biometric systems. A lack of collaboration or even antagonism to employing these technologies can impair the accuracy of a biometrics system and its eventual adoption. The lack of technological know-how and public awareness are viewed as major barriers to the use of biometric systems.
The risk of being hacked
IMPACT OF RUSSIAN UKRAINE WAR
Russian authorities have long exploited biometric data for facial recognition powered by artificial intelligence to monitor and imprison peaceful protestors and other dissidents. With the full-scale invasion of Ukraine in February of this year, facial recognition technology became one of the government's instruments in its battle to combat the insurgency. Suppress anti-war demonstrations. In an effort to expand government control over biometrics, authorities established a single database of biometric data in 2018. The authorities argued that the database would make it easier to authenticate internet banking users and invited banks. Their clients willingly provide biometric data to the system. However, the new law makes this procedure mandatory. Individual consent is required under Russian legislation for the collection and processing of biometric data. Russian banks have been collecting biometric data for many years.
IMPACT OF ONGOING RECESSION
The advent of biometric identification has had an impact on a variety of commercial sectors. Banking and financial services are included. Risk management and a complex patchwork of state regulations underpin the banking, insurance, and financial services industries as well as federal legislation. With security threats in this field continually evolving, the usage of biometrics in financial services is increasing. The market for biometrics in the financial services and banking sector is valued at $999.3 million USD in just the last year. Only the United States. The COVID-19 pandemic has altered our daily lives in ways we could never have predicted. One of these shifts is a drive by the banking and finance industries to quickly integrate biometric security mechanisms for authentication. The pandemic affected millions of people who were unable to travel.
By Modality
Market Statistics
Multimodal Biometric
By Motility
Fixed
Mobile
By Application
Government
Consumer electronics
Commerce
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The North American Biometric Authentication & Identification market is the second-largest. As a result of the increased threat of terrorism on a global scale, biometric technology is meeting an increasing number of safety and security requirements. Furthermore, the US Biometric Authentication & Identification market had the biggest market share, while the Canada Biometric Authentication & Identification market was the European market with the quickest growth region. From 2023 to 2032, the Europe Biometric Authentication & Identification Market is estimated to develop at the quickest CAGR.
As increased security concerns, biometric applications in the defense and military sectors of European nations are increasing, assisting in the tracking of criminal activities and streamlining access control in critical departments. Furthermore, the market is growing.
Rising mobile payment transactions, as well as increased private corporate and government activities to embrace biometric authentication systems, are likely to be important drivers of the region's biometrics industry. China is in the vanguard of the global economy, according to the Center for Strategic and International Studies Report (CSIS) 2021. The digital payment revolution has begun.
Based on a global market of USD 5.42 trillion in transaction value in digital commerce and mobile payments, Chinese firms are expected to create USD 2.9 trillion in transaction value in 2022. China's emphasis on influencing global digital infrastructure, e-commerce, and new projects such as the digital yuan and the proposed new intellectual property could lead to a more authoritarian path for digitization.
For example, in partnership with IDEX Biometrics, The China Construction Bank (CCB) has decided to use biometric cards in its digital renminbi initiatives. A digital yuan wallet app has already been released by the bank. Users will be able to use digital currency without the requirement for a smartphone with the NFC-enabled biometric smart card. These biometric cards will function as digital hard wallets for participants in China's digital currency pilot, known as DCEP. Biometrics and fingerprint sensors
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of key players of Biometric Authentication Identification Market are BuiEngagable Technologies Pvt. Ltd., Trueface, SIC Biometrics, Leidos Holdings Inc, NEC Corporation, InTech Inc., Precise Biometrics, Gemalto NV, Fulcrum Biometrics LLC, IDEMIA France SAS, Aware Inc, BiolD AG, Jumio and Veridium, Phonexia, ImageWare Systems and other players are listed in a final report.
Trueface-Company Financial Analysis
Thales collaborated with Inetum in October 2021 to deploy its Automated Border Control (ABC) system for traveler biometric authentication at three airports in Spain. Two of the techniques are facial recognition and document verification.are intended to expedite border control and reduce traveler wait times.
June 2021: Phonexia developed new audio investigative tools based on its experience with hundreds of global public security operations. Phoenixia Orbis is a piece of software. Law enforcement agencies can swiftly and easily use this on-site technology. Extracting complex insights from enormous quantities of audio effectively simplifies research.
In May 2021, Jumio and Veridium established a partnership to eliminate fraud situations encountered by various enterprises during account setup and subsequent access requests. This collaboration will provide more identity verification capabilities as well as a variety of biometric modalities.
Trueface, a leader in Facial Recognition, Computer Vision, and Artificial Intelligence, was bought by Pangiam in June 2021. Pangiam now has access to Trueface technologies such as social distancing compliance monitoring and contactless temperature checks as a result of this acquisition.
ImageWare Systems entered the Self Sovereign Identity market in October 2021 with a biometrically enabled Blockchain-Powered Self Sovereign Identity solution. Adding biometric protection to the identity blockchain adds a last degree of security to the data.
| Report Attributes | Details |
|
Market Size in 2022 |
US$ 28.4 Bn |
|
Market Size by 2030 |
US$ 82.15 Bn |
|
CAGR |
CAGR of 14.2% From 2023 to 2030 |
|
Base Year |
2022 |
|
Forecast Period |
2023-2030 |
|
Historical Data |
2019-2021 |
|
Report Scope & Coverage |
Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
|
Key Segments |
By Modality (Market Statistics, Multimodal Biometric), By Motility (Fixed, Mobile), By Application (Government, Consumer electronics, Commerce) |
|
Regional Analysis/Coverage |
North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
|
Company Profiles |
BuiEngagable Technologies Pvt. Ltd., Trueface, SIC Biometrics, Leidos Holdings Inc, NEC Corporation, InTech Inc., Precise Biometrics, Gemalto NV, Fulcrum Biometrics LLC, IDEMIA France SAS, Aware Inc, BiolD AG, Jumio and Veridium, Phonexia, ImageWare Systems |
|
Key Drivers |
•Advances in cutting-edge AI hardware and software |
|
Market Restrain |
•Fragmentation is high |
Biometric Authentication Identification Market is anticipated to expand by 14.2% from 2023 to 2030.
USD 82.15 billion is expected to grow by 2030.
Biometric Authentication Identification Market size was valued at USD 28.4 billion in 2022
Advances in cutting-edge AI hardware and software, Biometrics Integration in IoT Devices.
Concerns about data security and a lack of technical knowledge, the risk of being hacked.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Biometric Authentication Identification Market Segmentation, By Modality
8.1 Market Statistics
8.2 Multimodal Biometric
9. Biometric Authentication Identification Market Segmentation, By Motility
9.1 Fixed
9.2 Mobile
10. Biometric Authentication Identification Market Segmentation, By Application
10.1 Government
10.2 Consumer electronics
10.3 Commerce
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Biometric Authentication Identification Market by Country
11.2.2North America Biometric Authentication Identification Market by Modality
11.2.3 North America Biometric Authentication Identification Market by Motility
11.2.4 North America Biometric Authentication Identification Market by Application
11.2.5 USA
11.2.5.1 USA Biometric Authentication Identification Market by Modality
11.2.5.2 USA Biometric Authentication Identification Market by Motility
11.2.5.3 USA Biometric Authentication Identification Market by Application
11.2.6 Canada
11.2.6.1 Canada Biometric Authentication Identification Market by Modality
11.2.6.2 Canada Biometric Authentication Identification Market by Motility
11.2.6.3 Canada Biometric Authentication Identification Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Biometric Authentication Identification Market by Modality
11.2.7.2 Mexico Biometric Authentication Identification Market by Motility
11.2.7.3 Mexico Biometric Authentication Identification Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Biometric Authentication Identification Market by Country
11.3.1.2 Eastern Europe Biometric Authentication Identification Market by Modality
11.3.1.3 Eastern Europe Biometric Authentication Identification Market by Motility
11.3.1.4 Eastern Europe Biometric Authentication Identification Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Biometric Authentication Identification Market by Modality
11.3.1.5.2 Poland Biometric Authentication Identification Market by Motility
11.3.1.5.3 Poland Biometric Authentication Identification Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Biometric Authentication Identification Market by Modality
11.3.1.6.2 Romania Biometric Authentication Identification Market by Motility
11.3.1.6.4 Romania Biometric Authentication Identification Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Biometric Authentication Identification Market by Modality
11.3.1.7.2 Turkey Biometric Authentication Identification Market by Motility
11.3.1.7.3 Turkey Biometric Authentication Identification Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Biometric Authentication Identification Market by Modality
11.3.1.8.2 Rest of Eastern Europe Biometric Authentication Identification Market by Motility
11.3.1.8.3 Rest of Eastern Europe Biometric Authentication Identification Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Biometric Authentication Identification Market by Modality
11.3.2.2 Western Europe Biometric Authentication Identification Market by Motility
11.3.2.3 Western Europe Biometric Authentication Identification Market by Application
11.3.2.4 Germany
11.3.2.4.1 Germany Biometric Authentication Identification Market by Modality
11.3.2.4.2 Germany Biometric Authentication Identification Market by Motility
11.3.2.4.3 Germany Biometric Authentication Identification Market by Application
11.3.2.5 France
11.3.2.5.1 France Biometric Authentication Identification Market by Modality
11.3.2.5.2 France Biometric Authentication Identification Market by Motility
11.3.2.5.3 France Biometric Authentication Identification Market by Application
11.3.2.6 UK
11.3.2.6.1 UK Biometric Authentication Identification Market by Modality
11.3.2.6.2 UK Biometric Authentication Identification Market by Motility
11.3.2.6.3 UK Biometric Authentication Identification Market by Application
11.3.2.7 Italy
11.3.2.7.1 Italy Biometric Authentication Identification Market by Modality
11.3.2.7.2 Italy Biometric Authentication Identification Market by Motility
11.3.2.7.3 Italy Biometric Authentication Identification Market by Application
11.3.2.8 Spain
11.3.2.8.1 Spain Biometric Authentication Identification Market by Modality
11.3.2.8.2 Spain Biometric Authentication Identification Market by Motility
11.3.2.8.3 Spain Biometric Authentication Identification Market by Application
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Biometric Authentication Identification Market by Modality
11.3.2.9.2 Netherlands Biometric Authentication Identification Market by Motility
11.3.2.9.3 Netherlands Biometric Authentication Identification Market by Application
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Biometric Authentication Identification Market by Modality
11.3.2.10.2 Switzerland Biometric Authentication Identification Market by Motility
11.3.2.10.3 Switzerland Biometric Authentication Identification Market by Application
11.3.2.11.1 Austria
11.3.2.11.2 Austria Biometric Authentication Identification Market by Modality
11.3.2.11.3 Austria Biometric Authentication Identification Market by Motility
11.3.2.11.4 Austria Biometric Authentication Identification Market by Application
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Biometric Authentication Identification Market by Modality
11.3.2.12.2 Rest of Western Europe Biometric Authentication Identification Market by Motility
11.3.2.12.3 Rest of Western Europe Biometric Authentication Identification Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Biometric Authentication Identification Market by Country
11.4.2 Asia-Pacific Biometric Authentication Identification Market by Modality
11.4.3 Asia-Pacific Biometric Authentication Identification Market by Motility
11.4.4 Asia-Pacific Biometric Authentication Identification Market by Application
11.4.5 China
11.4.5.1 China Biometric Authentication Identification Market by Modality
11.4.5.2 China Biometric Authentication Identification Market by Application
11.4.5.3 China Biometric Authentication Identification Market by Motility
11.4.6 India
11.4.6.1 India Biometric Authentication Identification Market by Modality
11.4.6.2 India Biometric Authentication Identification Market by Motility
11.4.6.3 India Biometric Authentication Identification Market by Application
11.4.7 Japan
11.4.7.1 Japan Biometric Authentication Identification Market by Modality
11.4.7.2 Japan Biometric Authentication Identification Market by Motility
11.4.7.3 Japan Biometric Authentication Identification Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Biometric Authentication Identification Market by Modality
11.4.8.2 South Korea Biometric Authentication Identification Market by Motility
11.4.8.3 South Korea Biometric Authentication Identification Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Biometric Authentication Identification Market by Modality
11.4.9.2 Vietnam Biometric Authentication Identification Market by Motility
11.4.9.3 Vietnam Biometric Authentication Identification Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Biometric Authentication Identification Market by Modality
11.4.10.2 Singapore Biometric Authentication Identification Market by Motility
11.4.10.3 Singapore Biometric Authentication Identification Market by Application
11.4.11 Australia
11.4.11.1 Australia Biometric Authentication Identification Market by Modality
11.4.11.2 Australia Biometric Authentication Identification Market by Motility
11.4.11.3 Australia Biometric Authentication Identification Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Biometric Authentication Identification Market by Modality
11.4.12.2 Rest of Asia-Pacific Biometric Authentication Identification Market by Motility
11.4.12.3 Rest of Asia-Pacific Biometric Authentication Identification Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Biometric Authentication Identification Market by Country
11.5.1.2 Middle East Biometric Authentication Identification Market by Modality
11.5.1.3 Middle East Biometric Authentication Identification Market by Motility
11.5.1.4 Middle East Biometric Authentication Identification Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Biometric Authentication Identification Market by Modality
11.5.1.5.2 UAE Biometric Authentication Identification Market by Motility
11.5.1.5.3 UAE Biometric Authentication Identification Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Biometric Authentication Identification Market by Modality
11.5.1.6.2 Egypt Biometric Authentication Identification Market by Motility
11.5.1.6.3 Egypt Biometric Authentication Identification Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Biometric Authentication Identification Market by Modality
11.5.1.7.2 Saudi Arabia Biometric Authentication Identification Market by Motility
11.5.1.7.3 Saudi Arabia Biometric Authentication Identification Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Biometric Authentication Identification Market by Modality
11.5.1.8.2 Qatar Biometric Authentication Identification Market by Motility
11.5.1.8.3 Qatar Biometric Authentication Identification Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Biometric Authentication Identification Market by Modality
11.5.1.9.2 Rest of Middle East Biometric Authentication Identification Market by Motility
11.5.1.9.3 Rest of Middle East Biometric Authentication Identification Market by Application
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by Country
11.5.2.2 Africa Biometric Authentication Identification Market by Modality
11.5.2.3 Africa Biometric Authentication Identification Market by Motility
11.5.2.4 Africa Biometric Authentication Identification Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Biometric Authentication Identification Market by Modality
11.5.2.5.2 Nigeria Biometric Authentication Identification Market by Motility
11.5.2.5.3 Nigeria Biometric Authentication Identification Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Biometric Authentication Identification Market by Modality
11.5.2.6.2 South Africa Biometric Authentication Identification Market by Motility
11.5.2.6.3 South Africa Biometric Authentication Identification Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Biometric Authentication Identification Market by Modality
11.5.2.7.2 Rest of Africa Biometric Authentication Identification Market by Motility
11.5.2.7.3 Rest of Africa Biometric Authentication Identification Market by Application
11.6 Latin America
11.6.1 Latin America Biometric Authentication Identification Market by Country
11.6.2 Latin America Biometric Authentication Identification Market by Modality
11.6.3 Latin America Biometric Authentication Identification Market by Motility
11.6.4 Latin America Biometric Authentication Identification Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Biometric Authentication Identification Market by Modality
11.6.5.2 Brazil Biometric Authentication Identification Market by Motility
11.6.5.3 Brazil Biometric Authentication Identification Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Biometric Authentication Identification Market by Modality
11.6.6.2 Argentina Biometric Authentication Identification Market by Motility
11.6.6.3 Argentina Biometric Authentication Identification Market by Application
11.6.7 Colombia
11.6.7.1 Colombia Biometric Authentication Identification Market by Modality
11.6.7.2 Colombia Biometric Authentication Identification Market by Motility
11.6.7.3 Colombia Biometric Authentication Identification Market by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Biometric Authentication Identification Market by Modality
11.6.8.2 Rest of Latin America Biometric Authentication Identification Market by Motility
11.6.8.3 Rest of Latin America Biometric Authentication Identification Market by Application
12.Company profile
12.1 BuiEngagable Technologies Pvt. Ltd.
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Trueface
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 SIC Biometrics
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Leidos Holdings Inc
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 NEC Corporation
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 InTech Inc.
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Precise Biometrics
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Gemalto NV
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Fulcrum Biometrics LLC,
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 IDEMIA France SAS
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Aware Inc.
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Product/Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 BiolD AG
12.12.1 Company Overview
12.12.2 Financials
12.12.3 Product/Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
12.13 Jumio and Veridium
12.13.1 Company Overview
12.13.2 Financials
12.13.3 Product/Services Offered
12.13.4 SWOT Analysis
12.13.5 The SNS View
12.14 Phonexia
12.14.1 Company Overview
12.14.2 Financials
12.14.3 Product/Services Offered
12.14.4 SWOT Analysis
12.14.5 The SNS View
12.15 ImageWare Systems
12.15.1 Company Overview
12.15.2 Financials
12.15.3 Product/Services Offered
12.15.4 SWOT Analysis
12.15.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
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Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
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Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Waveguide Market size was valued at USD 6.5 billion in 2022 and is expected to grow to USD 11.33 billion by 2030 and grow at a CAGR of 7.2 % over the forecast period of 2023-2030.
VCSEL Market Size was valued at USD 1.71 billion in 2022 and is expected to reach USD 6.63 billion by 2030 and grow at a CAGR of 18.4% over the forecast period 2023-2030.
Semiconductor Bonding Market Size was valued at USD 950.17 Million in 2023, and is expected to reach USD 1251.20 Million by 2031 and grow at a CAGR of 3.5% over the forecast period 2024-2031.
Mobile Robots Market size was valued at USD 3.3 billion in 2022 and is expected to grow to USD 42.90 billion by 2030 and grow at a CAGR of 37.8% over the forecast period of 2023-2030.
Static Random-Access Memory Market size was valued at USD 0.6 billion in 2022 and is expected to grow to USD 0.85 billion by 2030 and grow at a CAGR of 4.46% over the forecast period of 2023-2030.
EV Charging Cables Market size was valued at USD 395.56 million in 2022 and is expected to expand at a CAGR of 24% from 2023 to 2030 and it will reach USD 2.21 billion in 2030.
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