Cover Image
Market Research Report

Biometric Scan Software Market - Growth, Trends and Forecast (2019 - 2024)

Published by Mordor Intelligence LLP Product code 393666
Published Content info 120 Pages
Delivery time: 2-3 business days
Price
Back to Top
Biometric Scan Software Market - Growth, Trends and Forecast (2019 - 2024)
Published: May 1, 2019 Content info: 120 Pages
Description

Market Overview

The global biometric scan software market is expected to register a CAGR of about 10.48% during 2019-2024. Biometrics involves measuring of individual body characteristics, such as fingerprints, hand geometry, retinal patterns, voice recognition, among other physical features that are used to identify the authorized users to allow them access.

  • The growth in the study of biometrics has instigated better security authentication technology, compared to other security methods. The growing need for stringent security regulations in many sectors of the society has generated tremendous interest in biometrics that has raised the expectations from biometric scanning technologies.
  • Biometric scanning technologies are fueling developments and improvements in the care delivery system in the healthcare sector. Moreover, incremental innovations in the field of communication have led to the use of IoT, thus, improving the healthcare management system. This factor has created an immense demand for biometric scan software in the current market scenario.
  • The emergence of mobile identification solutions for providing access to invaluable information, such as positive identity verification, benefits verification, arrest records, restraining orders, and wants and warrants has been critical in new demand generation. The ability to use existing smartphones as the enabling device has pushed innovations in the market.

Scope of the Report

With the biometric scan software, the physical characteristic that is supposed to examine is usually mapped to a username. The username datasheet is referred to make decisions on the level of access that can be granted after the physical characteristics of a person has been authenticated. Biometric scan software has different kinds of applications: government and homeland security, healthcare, IT and telecom, BFSI, travel & immigration. In terms of deployment also biometric scan software being segregated as cloud and on-premise.

Key Market Trends

Healthcare Sector Expected to Hold Major Share

  • In terms of the end-user industries, the healthcare sector is expected to drive technological transformation within the market. Biometric solutions in hospitals provide secure access to information and meaningful cost savings through fraud reduction. For instance, it cuts the cost associated with duplication of patient medical records, and thus, enhances the data security.
  • Biometric scanning technologies are fueling developments and improvements in the care delivery system in the healthcare sector. Moreover, incremental innovations in the field of communication have led to the use of IoT, thus, improving the healthcare management system. This factor has created an immense demand for biometric scan software in the current market scenario.
  • The increasing number of data breaches in the healthcare industry, giving rise to the adoption of biometric scan software. In 2018, multiple US-based global companies involved themselves in the healthcare sector including Arm, ForgeRock, Philips, Qualcomm Life, Sparsa, and US TrustedCare announced that they had banded together to establish "OpenMedReady", a standards body focused on ensuring that the patient data used by healthcare practitioners is accurate. They indicated that smartphone-based fingerprint recognition will be a key element in their framework, as a means of tying medical data directly to patients.

North America to Account for the Major Market Share

  • North America is one of the largest markets for biometric scan software and is largely driven by the swift market penetration and presence of large companies working on the technology.
  • Stricter regulations for fraud detection and risk analysis are the driving factors for its paced adoption in the BFSI segments. The adoption of the security-related infrastructure in North America is profoundly impacted by the presence of regulatory as well as corporate policies of the businesses.
  • A recent report by Spiceworks, an online IT community, on the adoption and security of biometric authentication technology in the corporate workplace showed that 62% of organizations in North America currently use some sort of biometric authentication technology. The community surveyed 492 professionals from North America and Europe in February 2018.

Competitive Landscape

The biometric scan software market is fragmented. The emergence of mobile identification solutions for providing access to invaluable information, such as positive identity verification, benefits verification, arrest records, restraining orders, and wants and warrants has penetrating the demand for biometric scan softwares. Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and collaboration of large companies are focused toward innovation. Some of the key developments in the area are:

  • March 2019 - Fujitsu's Online Biometric Authentication Service was adopted by TEPCO Systems Corporation for to improve the efficiency of the operations of the company that handles utility pole maintenance operations, as well as to ensure safety for the local region.
  • April 2019 - SIC Biometrics Global Inc. introduced new biometric handheld device , "IdentiFI-50" from SIC Biometrics which could prove to be a powerful tool in law enforcement, banking, and other application areas.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 48646

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Introduction to Market Drivers and Restraints
  • 4.3 Market Drivers
    • 4.3.1 Increasing Need for Improved Workforce Management
    • 4.3.2 Increasing Demand for Safe and Secure Access
  • 4.4 Market Restraints
    • 4.4.1 Cost Involved in Deploying and Maintaining Biometric System Devices
  • 4.5 Value Chain / Supply Chain Analysis
  • 4.6 Industry Attractiveness - Porter's Five Force Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers/Consumers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitute Products
    • 4.6.5 Intensity of Competitive Rivalry

5 TECHNOLOGY SNAPSHOT

  • 5.1 Finger Print
  • 5.2 Palm Vein
  • 5.3 Iris
  • 5.4 Other Technologies (Face and Voice)

6 MARKET SEGMENTATION

  • 6.1 By Authentication Solution
    • 6.1.1 Single-factor Authentication
    • 6.1.2 Multi-factor Authentication
  • 6.2 By Deployment
    • 6.2.1 Cloud
    • 6.2.2 On-premise
  • 6.3 By Application
    • 6.3.1 Government and Homeland Security
    • 6.3.2 Healthcare
    • 6.3.3 IT and Telecom
    • 6.3.4 BFSI
    • 6.3.5 Travel and Immigration
    • 6.3.6 Other Applications
  • 6.4 Geography
    • 6.4.1 North America
    • 6.4.2 Europe
    • 6.4.3 Asia-Pacific
    • 6.4.4 Latin America
    • 6.4.5 Middle East & Africa

7 COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Gemalto NV (Thales Group)
    • 7.1.2 Fujitsu Limited
    • 7.1.3 Aware Inc.
    • 7.1.4 NEC Corporation
    • 7.1.5 M2SYS Inc.
    • 7.1.6 Suprema Inc.
    • 7.1.7 Siemens AG
    • 7.1.8 ImageWare Systems Inc.
    • 7.1.9 SIC Biometrics Global Inc.
    • 7.1.10 Bayometric

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

Back to Top