Global Brain Fingerprinting Technology Market
Global Brain Fingerprint Technology Market is valued at USD 3.17 Billion in 2022 and is projected to reach a value of USD 4.91 Billion by 2030 at a CAGR of 5.60% over the forecast period.
Brian fingerprinting is a computer based test which discovers, documents & offers evidence regarding crimes. It is also used for identifying people involved in terrorist cells. The brain fingerprinting technology measures electric brain waves by measuring the recognition of familiar stimuli in response to data presented on a screen. The increase in technological advancements across the globe fuelling the demand for biometrics, due to which the demand for brain fingerprinting is replacing traditional ways of detecting crimes & counter terrorism.
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Market Drivers
The increase in use of this technology in government sector to solve crime activities, and prevent public benefit activities or fraud voting’s expected to boost the global brain fingerprinting technology market growth over the forecast period. The increase in investments in research and development activities is expected to drive the global brain fingerprinting technology market growth. Also, the growing adoption of AI and machine learning in healthcare industry will positively influence the market growth.
The increase in demand regarding brain fingerprinting technology from rising economies across the globe is expected to accelerate the target market growth. Continuous technological advancements are boosting the demand of biometrics, inferable from which the demand for this technology is supplanting the customary methods to counter terrorism & for detecting crimes. With the help of this technology, government organizations can prevent public benefit activities, fraud voting, crime activities, as well as protect other applications including employee background verification, banking, & access control. All these factors are expected to drive the global brain fingerprinting technology market in the near future.
Key Players
Some key operating players are listed in global brain fingerprinting technology market report such as Brainwave Science and Brain Fingerprinting Laboratories.
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Market Restraints
High initial investment is the major restraint which expected to hamper the global brain fingerprinting technology market growth during this forecast period.
Market Segmentation
The Global Brain Fingerprinting Technology Market is segmented into equipment, technique, application, and region.
Based on equipment market is segmented into Personal Computer, Graphics Card, Data Acquisition Board, Sensors, and Four-Channel Electroencephalography (EEG) Amplifier System, by technique such as Scientific Procedure, Brain Fingerprinting Testing, and Computer Controlled. Further, market is segmented application National Security, Advertising, Medical Diagnosis, and Criminal Justice.
Also, the Global Brain Fingerprinting Technology Market is segmented on the basis of five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Regional Analysis
The North America is expected to lead the global brain fingerprinting technology market across the globe over the forecast period. Various biometric methods are being developed in different divisions such as homeland security, justice, defense, and commerce. Brain fingerprinting is anticipated to hold an important part in justice & defense, adding to the regional growth market.
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