Industry Insights

The global Biometrics Technology Market size is expected to reach USD 59.31 billion by 2025, with a CAGR of 19.5% during the forecast period. This technology has its applications in public, commercial and private sectors. Biometrics is related to human characteristics which identify fingerprint, palm veins, face recognition, hand geometry, retina for its authorization. To avoid security breaches, this technology is applied in various sectors and it provides high degree of security and accuracy.

The security concerns are anticipated to drive the market demand over the forecast period. Biometrics technology is accessed in the computer industry for identification and access control. To protect the most important data, old techniques are not robust enough as a result of which this technology is being used widely. It has applications in government offices, border control, airports, financial institutions, healthcare industry and law on account of which the demand is expected to increase rapidly.

Application Insights

The biometrics technology finds usage in applications such as face recognition, hand geometry, signatures, automated fingerprint identification systems (AFIS), voice recognition, iris, and non-AFIS. Hand recognition is very widely used a form of application in biometrics technology.

Palm veins and print are contactless applications which are expected to grow over forecast period owing to the security concerns. AFIS finds application in conducting background checks of the workforce of an organization. These all will be used for civil applications.

Iris application is majorly used in government programs. It also used in ATM facilities and financial institutions. These applications will see growth over the forecast period.

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End-Use Insights:

The demand in the government sector is expected to grow rapidly over the forecast period to prevent issues such as illegal immigration and identity theft. The commercial sector is anticipated to experience increased demand on account of growing application in defense and security end-use.

For recent implementations in mobile and online payments, it is protected by biometrics over its security concerns. This technology also has end-use in consumer electronics, healthcare, security, and defense.

Regional Insights:

Biometrics technology is majorly used around the world to counter the threats posed by terrorists worldwide. North America is expected to be the major market where U.S. is the most dominant country and will grow rapidly over the forecast period. Asia Pacific is expected to be the fastest growing market owing to the significant demand in China and India over the forecast period. Initiatives such as UIDAI in India which use face, fingerprint and iris biometrics are expected to augment demand over the forecast period.

Competitive Insights:

The industry participants in the market comprise of companies such as Precise Biometrics AB, NEC Corporation, 3M Cogent, Fujitsu Limited, FaceFirst, Nuance Communications, and Hitachi. 3M Cognet has recently introduced a wide range of palm print and fingerprint identification products with innovative features.

The market is characterized by high merger and acquisition activity. 3M Cogent has entered into partnerships with companies such as Siemens, BlackBerry, Accenture, Sun Microsystems, and Lockheed Martin for the application of bluetooth-enabled portable fingerprint scanner, which is highly preferred mobile biometric industry.

Market Segment:

Biometrics Technology End-Use Outlook (Revenue, USD Million; 2014 - 2025)
    • Government
    • Banking and Finance
    • Consumer Electronics
    • Healthcare
    • Transport/Logistics
    • Defense & Security
    • Others

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Synopsis:

With reference to the report published by the authorities the global Millimeter Wave Technology Market estimated to reach USD 8.69 billion by the completion of the prediction period.

Drivers:

The growing research & development actions in the millimeter wave (MMW) technology and the unceasingly increasing demand for bandwidth intensive uses are expected to boost the global market .The constantly growing demand from bandwidth intensive uses, rising mainly from the products of consumer electronic, for example wearable electronics and smartphones, is requiring the greater bandwidth, greater speed internet through the telecom segment. Data intensive facilities, for example high-speed online gaming, video conferencing, media exchange over the internet, and video streaming are likely to increase the demand for greater bandwidth, raising the demand for accepting millimeter wave technology.

The millimeter wave technology is widely used in the applications through a number of subdivisions for example healthcare, security, telecommunication, automobile, defense & military. The growing demand received from all these industrialized and commercial subdivisions is additionally estimated to propel the Millimeter Wave Technology Industry by a substantial step.

The growing infrastructural arrangements, for more rapidly admittance to services, videos, voice & data, and the increasing demand for high-speed network for opening smart systems, on commercial and residential stages, are furthermore donating to the development of the market. The increasing infiltration of cloud computing, internet facilities and e-governance facilities is more likely to motivate the demand above the estimated period.

Restraints:

Yet, the range restrictions of the technology and the rising broadcasting challenges because of the climatic or conservational situations are likely to hinder the development of the market during the period of forecast. Additionally, the technology, being a category of line-of-sight message, might experience a small number of additional obstacles, though booming efficiently. Rigorous R&D actions are being executed through the globe to cancel out the challenges and additional obstacles hampering the development of the market.

Classification:

The global Millimeter Wave (MMW) Technology market can be classified by Frequency Band, Application, Component, Product, and Region. By Frequency Band, it can be classified as E-Band, V-Band, and Other Frequency Bands. By Application it can be classified as Security, Healthcare, Defense & Military, Semiconductor & Electronics, Transportation & Automobile, and Telecommunications. By Component, it can be classified as Radiometers, Ferrite Devices, Frequency Converters, Oscillators, Transceivers & Antennas, Passive Components, Control Devices, Amplifiers and Others. By Product, it can be classified as Satellite & Radar Communication Systems, Telecommunication Equipment, Scanning and Imaging Systems.

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Regional Lookout:

By Region the global Millimeter Wave Technology market can be classified as North America, Europe, Asia Pacific, South America, and Middle East & Africa. Due to the grander approval of technology within the region, North American province was responsible for the biggest scope of the market during the historical year. The nations like Canada and the U.S.A. are one of the protuberant and timely implementer’s of the developing and forthcoming technologies. Therefore, these aspects are generating openings for the Millimeter Wave Technology in diverse applications.

On the other hand, the market for millimeter wave technology in the regions of Asia Pacific, South America & Middle East & Africa are expected to observe remarkable development for the period of the forecast. The Asia Pacific province is composed to show maximum percentage of development during the period of forecast.

This speedy development of the technology within the Asia Pacific region may possibly be credited to the progresses and up gradations being done in its telecom substructures. Additionally, the setting up of new-fangled telecom machinery, centered on the millimeter wave technology, is additionally estimated to motivate the general market through the region, by a substantial speed.

Companies:

The companies implemented a number of approaches for example agreements, corporations, development of products, expansions and acquisitions to accomplish development in the market. Some of the important companies for Millimeter Wave (MMW) Technology Market are:Wireless Excellence Ltd. (Cable Free), Proxim Wireless, Smiths Group Plc, NEC Corporation, Siklu Communication Ltd, Bridge Wave Communications, ELVA-1, Vubiq Networks, Inc., Renaissance Electronics & Communications (HXi), L3 Technologies, Inc., E-Band Communications, LLC, Key sight Technologies, Millitech Inc., MI-Wave Inc., Aviat Networks, Inc., Sage Millimeter, Inc., and others.

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The global Scaffold Technology Market was appreciated at US$ 610.0 million in the year 2015 and is estimated to reach US$ 1.5 billion by 2024. It is estimated to develop at a substantial CAGR for the duration of the prediction. The scaffolds utilized to back the organ arrangements and the organs that might have injured after the hurt or the sickness. This could be completed by utilizing tissue engineering together with reformative medication.

Tissue engineering is the usage of grouping of cells together with appropriate biochemical and physio-chemical issues to interchange or increase organic purposes. The most important issue motivating the scaffold technology is the growing R&D and the benefit of substituting animal trials by means of actual time organic background investigation. The Scaffold Technology market on the source of Type of End Use could span Diagnostic Centers and Hospitals, Pharmaceutical and Biotechnological Administrations, Institutes and the Research Laboratories, and Others. The subdivision of Pharmaceutical and Biotechnological Administrations seized the biggest stake due to the augmented acceptance percentage of this expertise in medicine finding procedures for pharmacodynamics and pharmacokinetic sum up.

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About the development forecasts, the subdivision of Diagnostic Centers and Hospitals is expected to observe enlightened growth in the sum of reconstructive surgical measures carried out each year together with the rushing cases of the road mishap. This represent maximum of the implantation processes. The scaffold technology industry on the source of Type of Application could span Stem cell research, Clinical Application and Tissue Engineering, Medicine Improvement, Cancer, and Others.

The subdivision of Cancer biology was responsible for the biggest stake during the year 2015. It could be credited to the great achievement percentage of 3D cell culture modeling in cancer research and the better capacity of matrix centered three dimensional cell cultures to sum up the host microenvironment allowing the assessment of capable directed treatments in cancer.

Then again, scaffolds are utilized in stem cell treatments by means of increasing applications in reformative action of sicknesses; which are projected to observe the speedy development above the prediction period. The collective usage of stem cells and bio scaffolds offers an encouraging policy for the application of the tissue engineering and cellular distribution. This is sequentially estimated to push the progress of this sector.

The scaffold technology market on the source of Type of Product could span Nanofiber centered Scaffolds, Freeze Embryo Testing, Hydrogels, Micro patterned Surface Microplates, Polymeric Scaffolds. The subdivision of Hydrogels has seized a considerable business stake of above 40%, such as a consequence of the possessions related with the usage of hydrogels for example the comfort of filling cells and medications for the measured delivery of the medicine. Furthermore, biocompatibility and incorporation of hydrogels by means of the host tissue, is accountable for its accomplishment in measured drug delivery of medicines for the tissue engineering.

The greater acceptance percentage of hydrogels is credited to its distended polymeric system construction. The scaffold technology market on the source of Area with respect to Trades in terms of intake, Profits, Market stake and Development percentage in these areas, for the duration of the prediction could span North America [U.S.A, Canada], Europe [Germany, U.K.], Asia Pacific [Japan, China], Latin America [Brazil], Middle East & Africa [South Africa].

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By the source of geography, North America, is, at present, leading the segment by means of a stake of above 40%. It is tracked by Europe. Important issues for example greater healthcare spending, well-built healthcare arrangement, and growing funds in R&D have contributed to the big stake of this North America. Yet, the market for scaffold technology in the Asia Pacific is projected to register the utmost development percentage for the duration of the prediction, due to the growing attention of the government on increasing research and development in the medicinal manufacturing and the refining health care substructure in the area.

The statement revises Trades in terms of intake of Scaffold Technology in the market; particularly in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It concentrates on the topmost companies operating in these regions. Some of the important companies operating in the field are Medtronic, Molecular Partners, NuVasive, Inc., Avacta Life Sciences Limited, Dickinson and Company, 4titude, Corning Inc., Matricel GmbH, Xanofi, Molecular Matrix Inc. and Thermo Fisher Scientific, Inc.

Additional important companies operating in the field are Acelity, Vericel Corporation, Nanofiber Solutions, 3D Bio matrix, Becton, Akron Biotech, Pelo Biotech GmbH, Tecan Trading AG, ReproCELL Europe Ltd [Reinnervate], 3D Biotek LLC., and Merck KGaA.

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