Biometric System Market Segmentation, Competitive Landscape, Market Poised for Rapid Growth And Forecast To 2027 | Impact of COVID-19
Market Overview Market Research Future (MRFR), in its research study, emphasizes that the global market 2020 is projected to rise rapidly over the forecast period, ensuring significant market valuation of USD 33 Billion by 2023, and a healthy 15% CAGR over the review period. Drivers and Restraints Significant factors driving market growth include increased usage of Biometrics in consumer electronics products to provide seamless access to multiple applications, increased numbers of government initiatives to implement biometrics, increased need for surveillance and protection due to terrorist threats, and increased penetration of biometric technology in automotive and business applications Fingerprint recognition systems are widely accepted and drive the demand for contact-based biometric systems. Since fingerprint recognition is mainly used in contact-based biometric systems, there will be a rising demand for fingerprint recognition solutions which will have positive impact on the