Military Biometrics Market was calculated to be 5.68 billion in 2021 and is anticipated to reach over USD 10.66 billion by the end of the assessment period, with a notable CAGR of 7.4% throughout the estimated period (2022 - 2027).
A biometric system comprises a recorder, software, and a database to compare and offer authenticity and security. The military biometrics system is made up of fingerprints, facial recognition, iris recognition, voice recognition, and vein recognition, which are rapidly gaining prominence among governments around the world. Product advancement is the strategy most widely adopted by the main players to increase their market share.
Recent Developments:
Market Drivers and Restraints:
The adoption and implementation of biometric systems have grown rapidly in the recent past due to several advantages and advantages related to convenience and security. These technological systems use information about an individual or employee to verify their identity, and also serve to restrict unauthorized entry or access to specific areas, places, and premises or sensitive or personal information and data. Biometric systems rely on specific data on unique biological traits to function effectively. The technology is also increasingly used in portable devices such as smartwatches, glasses and exercise bracelets, etc. Devices around the world are increasingly using devices with biometric identification capabilities, such as heart rate sensors and blood pressure monitors. Biometrics is also gaining acceptance in sectors such as defense, healthcare, banking and finance, hospitality, educational institutions, multinational corporations, and various government departments and offices. In the banking sector, biometrics is not only a highly secure option but also a profitable one. Relieves trouble remembering passwords, personal identification numbers (PINs), and other details associated with your debit, credit, or another card. In addition, some other important factors behind this trend include the increasing threat of terrorism and the entry of illegal immigrants in various countries of the world.
Concerns about security breaches are reflected in the increasing adoption of these systems, particularly in countries like the United Kingdom and the United States today. Also, biometric systems are increasingly being adopted in multinational and private companies around the world. Growing economies like China and India have seen an increase in adoption, as these systems serve as presence portals and also allow employers to monitor employee movements in the office at all times while limiting staff entry in specific places like server rooms etc. Biometric facial recognition, fingerprint recognition, and iris recognition systems are among the systems that have gained popularity so far. These offer intelligent monitoring capabilities, enable simple and convenient customer verification and access control functionality, ensuring an additional level of security.
However, the installation of biometric authentication systems is complex and requires qualified personnel to complete the task. There is also the possibility of a system violation resulting in the loss of data or information. Also, the entire system installation cannot be easily restored. These are some of the main factors that hinder the demand for biometric systems in the defense sector due to the need for a high level of security to protect against the breach of highly confidential data. Nevertheless, current technological advancements are expected to address these concerns and problems in the near future due to constant research and development. The development and launch of new and innovative biometric systems are expected to stimulate growth in this market to a great extent during the forecast period. Two emerging technologies that are expected to generate revenue in the market in the near future include systems like iris scanners and behavior analysis.,
MILITARY BIOMETRICS MARKET REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021– 2026 |
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Base Year |
2020 |
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Forecast Period |
2022 - 2027 |
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CAGR |
7.4% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
well-established players like Leidos Holdings Inc., Crossmatch Technologies Inc. (HID Global), Fulcrum Biometrics LLC, Aware Inc., and M2SYS Technology. |
Market Segmentation:
The global market for military biometrics has been segregated based on type as
The fingerprint recognition segment is analyzed to be the largest shareholder during the forecast period. Fingerprint recognition is the most widely used authentication system in most defense agencies around the world. However, the accuracy of iris recognition in the future should strongly stimulate demand in this segment. In addition, facial recognition is also steadily growing due to its wide use in border security and surveillance.
The COVID-19 pandemic has the potential to trigger a major global economic crisis, which affects all industries. There's no question, Covid-19 apparently changed the global economy overnight, and the defense industry is not immune. There has been a decline in the production of biometric devices due to complete lockdown in almost all nations. However, with the increasing security threats around the world, the market for military biometrics is touted to overgrow without any impact of coronavirus.
Regional Analysis:
The global market for Military Biometrics has been divided by region into
North America is predicted to record exceptional growth in the global military biometrics market in the future. The US military is also investing massively in the development of a biometric identification system, capable of replacing the traditional passwords of Internet users. Also, the US Army activated biometric intelligence, or BEI, which is now the top trend in the world. The Electronic Warfare & Sensors division of the US Army is developing a new collection of biometric data, which can be used by soldiers in the field. The new system, known as the "Next Generation Biometric Collection", is under development and may include facial scanning in the updated version. The system should also be compact and lightweight, making it easy to use. In addition, the United States is also developing biometric DNA and voice technologies for the military. Currently, the United States plans to replace its existing biometric technologies and move to new and advanced biometric technologies. Therefore, several ongoing developments, in terms of military biometrics, could lead to the growth of the North American military biometrics market in the near future.
Furthermore, adoption in European countries is expected to increase considerably in the near future due to the influx of immigrants and refugees from the Middle East countries due to the civil war and the presence of terrorist groups like ISIS, Al Qaeda, etc. Asia-Pacific is expected to experience the fastest growth during the outlook period, with countries like China and India upgrading their defense facilities with secure military biometric authentication capabilities.
Key Players in Military Biometrics Market:
The Military Biometrics Market is concentrated with well-established players like
Leading Company:
Crossmatch Technologies Inc had the largest share of the Military Biometrics Market in terms of sales and revenue in 2017.
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