SAN FRANCISCO, Oct. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Mobile Biometrics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Pool: 7884
Companies: 42 - Players covered include Apple, Inc.; Applied Recognition, Inc.; Aware, Inc.; Cognitec Systems GmbH; Fujitsu Ltd.; Fulcrum Biometrics LLC; Gemalto NV; Honeywell International, Inc.; ImageWare Systems, Inc.; LG Innotek; M2SYS Technology; NEC Corporation; Neurotechnology; Nuance Communications, Inc.; PayPal, Inc.; Precise Biometrics AB; Voicevault Inc. and Others.
Coverage: All major geographies and key segments
Segments: Component (Fingerprint readers, Scanners, Cameras); End-Use (Healthcare, BFSI, Government/Law Enforcement and Forensic, Travel and Immigration, Military and Defense, Consumer Electronics, Other End-Use Industries)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Mobile Biometrics Market to Reach $65.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Mobile Biometrics estimated at US$18 Billion in the year 2020, is projected to reach a revised size of US$65.6 Billion by 2026, growing at a CAGR of 23.7% over the analysis period. Fingerprint readers, one of the segments analyzed in the report, is projected to record a 25.5% CAGR and reach US$48.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Scanners segment is readjusted to a revised 20.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7 Billion in 2021, While China is Forecast to Reach $11.4 Billion by 2026
The Mobile Biometrics market in the U.S. is estimated at US$7 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.4 Billion by the year 2026 trailing a CAGR of 23% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.2% and 20.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 16.5% CAGR.
Cameras Segment to Reach US$12.3 Billion by the year 2026
In the global Cameras segment, USA, Canada, Japan, China and Europe will drive the 22.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.9 Billion in the year 2020 will reach a projected size of US$11.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.