Multi-Modal Biometrics Market Research Report: Size, Share, Upcoming Trends, Demand, Regional Analysis and Forecast 2023-2028 | Syndicated Analytics

Posted on 2 January, 2023 by peterperker

Multi-Modal Biometrics Market: Global Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2023-2028” provides a deep and thorough evaluation of the global multi-modal biometrics market based on its segments including type, end-use, and region. The report tracks the latest industry trends and analyses their overall impact on the market growth. It also evaluates the market dynamics, including key demand and price indicators, and studies the market on the basis of the SWOT and Porter’s Five Forces models.

Report Metrics

Historical Year: 2017-2022
Base Year: 2022
Forecast Year: 2023-2028

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Biometrics represent processes used to authenticate, recognize, and identify people based on behavioral and physical characteristics. They match an individual’s identifiers to their biometric template already stored in the database. Biometrics can be divided into two categories, namely, physiological and behavioral characteristics. Physiological characteristics include fingerprints, palm veins, palm prints, face, DNA, iris, retina, and hand geometry, whereas behavioral characteristics comprise typing patterns and voice and signature recognition. Multi-modal biometrics represents a technology that combines different types of biometrics, either to work together as a multifactor solution or to allow a multitude of authentication options. As a result, it finds application in various end-use sectors such as BFSI (banking, financial services and insurance), healthcare, government, defense, travel and transport, logistics, etc.

Note: The study incorporates COVID-19’s direct market impact as well as the indirect effects of related industries on the multi-modal biometrics market. These insights are regularly updated by the subject matter experts at Syndicated Analytics.

Global Multi-Modal Biometrics Market Trends and Drivers:

The increasing number of online frauds, security breaches, and cyber-attacks is primarily driving the global multi-modal biometrics market. Moreover, the installation of multi-modal biometrics in high-security areas to safeguard the facility and reduce the risk of intrusion by identifying unknown people through automated biometrics recognition is stimulating the market growth. Besides this, the escalating adoption of biometric systems in corporate houses for door access, employee identification, and attendance is acting as another significant growth-inducing factor. Furthermore, the outbreak of coronavirus disease (COVID-19) has led to a shift towards contactless multi-modal biometrics systems that analyze face, gait, and voice from a distance for identity authentication. This is providing lucrative growth opportunities to the global market. Additionally, various other factors, such as the introduction of e-passports, increasing terrorist and criminal activities, and growing security concerns, are expected to propel the global multi-modal biometrics market over the forecasted period.

Global Multi-Modal Biometrics Market Segmentation:

The market is segmented in on the basis of type, end use and region.

• Type
• End-use
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

The key regions covered in the market report are North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria, and South Africa). Moreover, the report also focuses on factors that strengthen revenue potential, demand, and consumption patterns in the global market.

Competitive Landscape:

The report also provides insights on the competitive landscape of the global multi-modal biometrics market industry with the leading players profiled in the report. 

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Discover how this report can help boost your revenues:

• Examine the current trends in the multi-modal biometrics market to evaluate industry prospects
• Analyze the present and future performance in established and emerging markets
• Evaluate market dynamics and expansion opportunities
• Investigate the economic and non-economic factors influencing market segments
• Employ qualitative and quantitative market analysis to enhance data-driven decisions
• Analyze how demand and supply factors influence industry growth at the regional and country level
• Study the market competition as per Porter’s five forces model
• Gain insights to new product launches and growth strategies employed by market players
• Capitalize on comprehensive profiles of major companies operating in the industry

About us: Syndicated Analytics is a market research firm that offers consulting services and provides comprehensive market intelligence in the form of research reports. Our team, consisting of experienced researchers and analysts from diverse industries, is deeply committed to the quality of the information and insights delivered to the clients which range from small and medium enterprises to Fortune 1000 companies. They are able to achieve this by studying the qualitative and quantitative aspects of the market as well as staying up to date with the current and the evolving trends of the industry. Our set of syndicated as well as customized market reports thus help the clients to gain a better view of their competitive landscape, overcome various industry-related challenges and formulate revenue generating business strategies.

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