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Biometric Systems in Saudi Arabia: Market Trends, Size, Growth, Opportunity and Forecast 2027
06-Apr-2023 | Navi Mumbai | News-Press Release
Market Reports on Saudi Arabia Provides the Trending Market Research Report on "Saudi Arabia Biometric Systems Market By Solution Type, By Functionality Type, By End Use Industry, By Region, Competition Forecast & Opportunities, 2027" under Services Market Research Reports category. The Biometric Systems Market in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Biometric Systems in Saudi Arabia Market Report and Forecast 2027
Saudi Arabia biometric systems market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027, on account of growing demand for authorized access to an infrastructure or location. Rising applications of artificial intelligence and Internet of Things services are further driving the growth of the Saudi Arabia biometric systems market in the upcoming five years. Identity-based IT solutions and advanced security mechanisms to ward off online terrorism and criminal acts are highly in demand and thus supporting the growth of the Saudi Arabia biometric systems market in the next five years.
Biometric systems are the technological system that uses information about a person to identify the person. The system identifies unique biological aspects like retinal identification, fingerprint, voice recognition, facial identification, and palm or finger vein pattern. Various categories of biometrics include fingerprint scanning, voice recognition, iris recognition, facial recognition, and handwriting recognition.
Expanding Construction Industry Promises Market Growth :
The construction industry is one of the rapidly growing sectors in the Kingdom of Saudi Arabia. The construction industry was valued at over USD37 billion in the year 2020, the growing expansion of the industry ensures advanced construction and implementation of internet-based services like biometric systems facilitate the growth of the Saudi Arabia biometric systems market in the upcoming five years. Growing investments in the sector, rising demands from the population, higher disposable income among the population, and increasing concerns for the security of the infrastructure also facilitate the growth of the Saudi Arabia biometric systems market in the next five years.
Saudi Vision 2030 Plays a Vital Role In Market Growth :
Like other GCC countries, the Saudi Arabian economy is highly dependent on the oil industry and its expansion directly affects the growth of the GDP of the country. With the Saudi Vision 2030, the government has strategized to reduce the dependency on the oil industry and diversify its economy by developing other public sectors like healthcare, education, infrastructure, recreation, tourism, the IT industry, etc. The scheme highlights the concept of digital transformation by adopting technologically advanced telecommunication systems and ICT technology.
The country is witnessing rapid global technology development. With the government's involvement in the advancement of communication, security, and internet services, the traditional processes, procedures, services, etc. are taking over rapidly and thereby supporting the growth of the Saudi Arabia biometric systems market in the next five years.
Market Segmentation :
The Saudi Arabia biometric systems market is segmented by solution type, functionality type, end-use industry, competitional landscape, and regional distribution. Based on solution type, the market is further segmented into fingerprint recognition, facial recognition, iris scanner, hand/palm recognition, voice recognition, vein scanner, and others. By functionality type, the market is fragmented into contact-based, contactless, and hybrid. Based on the end-use industry, the market is bifurcated into government and defense, BFSI, consumer electronics, it and telecom, healthcare and life sciences, retail and e-commerce, and others. The market analysis also studies the regional segmentation to devise regional
Market Segmentation :
divided among Northern & Central Regions, Eastern Region, Southern Region, and Western Region.
Company Profile :
NEC Corporation, Thales Group, BIO-Key International, Inc., Assa Abloy AB, IDEMIA France SAS, DERMALOG Identification Systems GmbH, Cognitec Systems, GmbH, Fujitsu Limited, IDEX Biometrics ASA, Next Biometrics ASA, SecuGen Corporation, Aware Inc., Precise Biometrics, Fingerprint Cards AB, M2SYS Technology, among others is a partial list of major market players of the companies responsible for the growth of Saudi Arabia biometric systems market.
In this report, Saudi Arabia's biometric systems market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Biometric Systems Market, By Solution Type:
•Saudi Arabia Biometric Systems Market, By Functionality Type:
•Saudi Arabia Biometric Systems Market, By End Use Industry:
Government and Defense
IT and Telecom
Healthcare and Lifesciences
Retail and E-commerce
•Saudi Arabia Biometric Systems Market, By Region:
Northern & Central Region
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia biometric systems market.
With the given market data,offers customizations according to a company's specific needs. The following customization options are available for the report:
•Detailed analysis and profiling of additional market players (up to five).
Browse our full report with Table of Contents:
Market Reports on Saudi Arabia provides you with an in-depth industry reports focusing on various economic, political and operational risk environment, complemented by detailed sector analysis. We have an exhaustive coverage on variety of industries - ranging from energy and chemicals to transportation, communications, constructions and mining to Food and Beverage and education. Our collection includes over 3000 up-to-date reports all researched, analyzed and published by top-notch international research firms.
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