The evolution of technology from paper to electronic to digital and now biometric has played a crucial role in shaping the economy. This evolution has enhanced the operational capabilities of various industries, such as automotive, manufacturing, and construction, in terms of improved safety measures, connectivity, cost reduction, and convenience for users. Such enhancements in technology have been seen in the human interactions occurring in the digital world. In the context of human interactions, it is necessary to identify and prove in ways who and what an individual is claiming to be. This is where identification technologies, such as biometrics, come into the picture. Biometric refers to the science of identifying the unique physical and behavioral characteristics, which an individual inherits from his/her birth. Biometric technology is broadly referred to as the art of capturing, processing, and measuring the individual’s characteristics electronically and comparing the collected records with existing records.
The increasing number of cyberattacks with the rising cost of restructuring and resuming the operations is driving the demand for biometric authentication and identification system. The year 2021 has the highest average cost of data breaches since 2007. Biometric-based systems have caught the attention of nations and the global industrial ecosystem. They are regarded as a technology that no company or government can afford to ignore. It is considered to be a deterrent to people with malevolent intentions. Biometrics has helped to deliver secure services in various circumstances. It has helped to identify known suspects traversing crowded security areas, such as airports, railway stations, and others. With the development and implementation of advanced innovative technologies and concepts, such as biometrics, in the field of anti-terrorism protection, terrorist attacks have been reduced.
In 2020, the government sector was estimated to be the largest market, with the defense segment following the lead in the global biometric authentication and identification industry. The ever-increasing demand for securing the identity of any individual and identifying the individual for any crimes has led to a surge in demand for biometrics in government applications. The reason for such large market penetration of biometric systems is the huge deployment in law enforcement, homeland security, border security, and forensic department, among others. Challenges such as illegal immigration, user ID issue, and thefts have largely led to the adoption of biometric systems. Biometrics has helped the government sector to fight against these crimes in a more sustainable manner. Another growing application sector is the banking and financial institutions, which is increasingly using biometric systems for user identification. Moreover, the advancement in smartphone technology, the growing importance of connectivity and safety, and online banking have significantly transformed the banking and financial sector. Every user is almost connected to the internet everywhere, which has led to ease in the banking process for the bank as well as the consumer. The global biometric authentication and identification market by end user has been categorized into six key application areas, i.e., Government and Border Management Bodies, defense bodies, banking and financial institutions, commercial organization, healthcare institutes, and others. Owing to the increasing crime rate and fraudulent access to high-security areas, the use of biometrics in various forms of authentication systems is rapidly gaining momentum. Market areas, such as criminal investigation (forensics), banks, and penitentiaries, have benefited the most with the emergence of biometric technology in access control systems. The modern-day biometric solution eliminates the need for managing access through keys and locks. It presents the users with the option of automating the authentication and various access control features.
Key Questions Answered in this Report:
What are the futuristic trends in the global biometric authentication and identification market across different regions?
What are the major driving forces expected to increase the demand for biometric authentication and identification during the forecast period 2021-2026?
What are the major challenges inhibiting the growth of the global biometric authentication and identification market?
What was the revenue generated in the global biometric authentication and identification market by various segments in 2020, and what are the estimates by 2026?
Which end-user of the global biometric authentication and identification market (government and military, logistics, media and telemetry, oil and gas, and environment and monitoring) is expected to dominate the market in the coming years?
Which mass category (nano/micro, small, heavy) is expected to dominate the global biometric authentication and identification market according to the orbit in the coming years?
What is the estimated revenue to be generated by the global biometric authentication and identification market across different regions (North America, Europe, Asia-Pacific, and Rest-of-the-World) during the forecast period?
Who are the key players in the global biometric authentication and identification market, and what are the new strategies that are being adopted by them to make a mark in the industry?
What major opportunities do the global biometric authentication and identification market companies foresee till 2026?
What is the competitive strength of the key leading players in the global biometric authentication and identification market?
The report highlights the key driving factors and challenges for this market, as well as the opportunities for the global biometric authentication and identification market. In the extensive primary research process undertaken for this study, the primary sources include industry experts and key executives from prominent companies and their distributors in the global biometric authentication and identification market. This report segments the market region-wise, as North America (U.S., Canada), Europe (France, Germany, Russia, U.K., Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest-of-Asia-Pacific), and the Rest-of-the-World (Africa, Latin America, Middle East).
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As India braces for the exponential growth of internet users—approximately 650M by 2020—we look at the opportunities for fast moving consumer goods (FMCG) brands in India.
As India is going through a digital evolution, it is estimated that by 2020, internet users in India will be around 650 million, which is half the population of the country.
Apart from these, the influence of the internet on FMCG purchases is growing rapidly and much faster than the industry imagined.
In its research report, Google stated that with the growing influence of digital on FMCG in India and its estimated impact by 2020, FMCG companies must rethink their digital strategies and digital media allocation to improve their go-to-market plans.
Some of the key findings stated by researchers in Google:
Digitally influenced FMCG consumption will grow to $45B (4a0% of a $115B market) by 2020.
Articulated Robot Market ShareThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Articulated Robot Market Share.
The growth sectors of the Articulated Robot Market Share are identified with precision for a better growth perspective.According to Market Research Future, the global articulated robot market is segmented based on component, payload capacity, application, and industry vertical.By component the global articulated robot market is segmented based on software, hardware and services.
The hardware segment is further segmented into controller, arm, drive, end-effector and sensor.
The controller and sensor subsegments are expected to contribute the highest to the hardware subsegment as there is a growing demand for improvement in bin picking application of articulated robots.The hardware sub-segment is expected to contribute significantly to the component segment during the forecast period.
High demand for articulated robot for industrial production is expected to boost this segment during the forecast period.By payload capacity the global articulated robot market is segmented into low, medium, high, and heavy.The heavy payload subsegment is expected to dominate the payload segment due to the rising demand for automation in manufacturing of heavy machinery.
Low payload capacity sub-segment is expected to contribute significantly to the payload capacity segment during the forecast period due to increase in adoption of articulated robots in electronic manufacturing and food and beverages industry.By application the global articulated market is segmented into material handling, welding, load/unload, bin picking, assembly, processing, washing, painting, and others.The assembly sub segment is expected to contribute significantly to the growth of application segment.
Articulated Robot MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Articulated Robot Market.
The growth sectors of the Articulated Robot Market are identified with precision for a better growth perspective.According to Market Research Future, the global articulated robot market is segmented based on component, payload capacity, application, and industry vertical.By component the global articulated robot market is segmented based on software, hardware and services.
The hardware segment is further segmented into controller, arm, drive, end-effector and sensor.
The controller and sensor subsegments are expected to contribute the highest to the hardware subsegment as there is a growing demand for improvement in bin picking application of articulated robots.The hardware sub-segment is expected to contribute significantly to the component segment during the forecast period.
High demand for articulated robot for industrial production is expected to boost this segment during the forecast period.By payload capacity the global articulated robot market is segmented into low, medium, high, and heavy.The heavy payload subsegment is expected to dominate the payload segment due to the rising demand for automation in manufacturing of heavy machinery.
Low payload capacity sub-segment is expected to contribute significantly to the payload capacity segment during the forecast period due to increase in adoption of articulated robots in electronic manufacturing and food and beverages industry.By application the global articulated market is segmented into material handling, welding, load/unload, bin picking, assembly, processing, washing, painting, and others.The assembly sub segment is expected to contribute significantly to the growth of application segment.
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