The global biometrics technology market is expected to reach USD 59.31 billion by 2025, according to a new study by Grand View Research, Inc. The increasing demand for biometrics technology across various applications is expected to favor the market growth over the next nine years. Biometrics technology is used by several verticals in private, public, and commercial sectors to overcome security threats. This is expected to fuel the market demand over the forecast period.
The increasing use of biometrics technology in consumer electronics, to enhance customer experiences, is expected to drive the market over the coming years. Implementation of biometrics technology for e-commerce applications may enable secure transactions and provide new opportunities to the market. High initial investments may hinder the industry growth over the forecast period. The biometrics technology is extensively used for e-passport programs and to counter illegal migrations. Government and defense services are further expected to witness high growth over the forecast period. Biometrics technology can be used in banking and finance to increase efficiency and prevent frauds enabling the industry to grow at a significant rate over the next nine years. Full Research Report On Global Biometrics Technology Market By Grand View Research: www.grandviewresearch.com/industry-analysis/biometrics-industry Further key findings from the study suggest:
www.grandviewresearch.com/industry/electronic-security-systems-and-devices Grand View Research has segmented the global biometrics technology market based on end-use, application, and region: Biometrics Technology End-Use Outlook (Revenue, USD Million; 2014 - 2025)
www.grandviewresearch.com/press-release/global-biometrics-technology-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
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