The rising number of concerns of identity proof, which is exceptional to every individual, and the growing need for technologically advanced security and surveillance are the key drivers contributing to the growth of the biometric market size. The emerging trend of eVisa and ePassport will further create lucrative opportunities in the market. Biometrics is widely utilized in various industries like law enforcement, personal and national security, healthcare, and governance. Biometrics identification and security have become a vital part of electronic devices, such as laptops and smartphones. The rising demand for electronic products is boosting the demand for biometrics globally.
Numerous government initiatives are being introduced to use this technology for various national-level policies and identification applications. The perfect example for this system is India’s AADHAR project and, by far, the biggest biometric identification system across the world. According to the biometric industry report, several financial institutions, including the banks, are planning to convert their customer base identification through biometrics, which in turn, will open doors for the growth of the biometrics market share in terms of revenue. The fingerprint identification technology is taking a large portion of the market as all other technologies slowly penetrate the market. As per the biometric market research, the decreasing cost of biometrics technology is further propelling the growth of the market.
With the emergence of the COVID-19 crisis, biometrics systems are being largely adopted for patient screening, early detection, and public safety monitoring to reduce the spread of the coronavirus. According to the biometric market forecast, the rising application of biometrics in face recognition and surveillance operations systems to recognize individuals who are not wearing protective masks is further predicted to stimulate the growth of the market.
Based on End-user, the government is projected to rise at a faster CAGR during the forecast period due to the growing initiatives to ensure public safety. The healthcare industry utilizes biometrics to improve diagnosis & treatment and efficiency in clinical processes. Biometric is also used in banking and finance owing to its east access feature. Travel and immigration apply biometric attributed to rising concerns of different countries.
Based on the region, North American is expected to increase at a higher CAGR in the coming years. Canada and the US have a strong economy, which empowers them to invest in various public safety activities. The high adoption of smart technologies and the increasing digitalization will further bolster the growth of the market. The rising number of government initiatives in North American nations, including Canada, the US, and Mexico, for large-scale funded programs like e-visas and e-passports are attracting a large number of end-users to opt for biometric. The US Department of Defense and Department of Homeland Security have been implementing fingerprint biometrics to help physical and digital access and combat security concerns. In addition to this, the strong presence of leading players like Cross Match Technologies (US) and Aware (US) is further stimulating the growth of the biometrics market.
Various notable players operating in the market include Suprema Inc., NEC Corporation, Fujitsu Ltd., Iris ID, Idemia, Fujitsu Ltd., IDEX Biometrics, Crossmatch Technologies, Aware Inc., and Ultinous, among others.
The global biometric market segmented into authentication type, offering, functionality, end user, and region. Based on the authentication type, the market has been segmented into single-factor recognition and multi-factor authentication. Based on the offering, the market has been segmented into hardware and software. Based on the functionality, the market has been segmented into contact functionality, non-contact functionality, and combined functionality. Based on the end user, the market has been segmented into government, military & defense, healthcare, banking & finance, consumer electronics, travel & immigration, automotive, security, and others.
Biometric Market Segmentation:
Global Biometric Market by Authentication Type:
- Single-Factor Authentication
- Fingerprint Recognition
- Fingerprint Recognition
- Iris Recognition
- Palm Print Recognition
- Face Recognition
- Vein Recognition
- Signature Recognition
- Voice Recognition
- DNA Recognition
- Keystroke Recognition
- Gait Recognition
- Otoacoustic Emissions
- Multi-Factor Authentication
- Smart Card with Biometrics
- Pin with Biometrics
- Multimodal Biometric
Global Biometric Market by Offering:
- Fingerprint Readers
Global Biometric Market by Functionality:
- Contact Functionality
- Non-Contact Functionality
- Combined Functionality
Global Biometric Market by End-User:
- Military & Defense
- Banking & Finance
- Consumer Electronics
- Travel & Immigration
- Residential Security
- Commercial Security
Global Biometric Market by Region:
- North America Biometric Market (Option 1: As a part of the free 25% customization)
- North America Market by Authentication Type
- North America Market by Offering
- North America Market by Functionality
- North America Market by End-User
- United States Biometric Market
- Canada Biometric Market
- Europe Biometric Market (Option 2: As a part of the free 25% customization)
- Europe Market by Authentication Type
- Europe Market by Offering
- Europe Market by Functionality
- Europe Market by End-User
- UK Biometric Market
- Germany Biometric Market
- France Biometric Market
- Spain Biometric Market
- Rest of Europe Biometric Market
- Asia-Pacific Biometric Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Market by Authentication Type
- Asia-Pacific Market by Offering
- Asia-Pacific Market by Functionality
- Asia-Pacific Market by End-User
- China Biometric Market
- India Biometric Market
- Japan Biometric Market
- Rest of APAC Biometric Market
- ROW Biometric Market (Option 4: As a part of the free 25% customization)
- RoW Market by Authentication Type
- RoW Market by Offering
- RoW Market by Functionality
- RoW Market by End-User
- Brazil Biometric Market
- South Africa Biometric Market
- Saudi Arabia Biometric Market
- UAE Biometric Market
- Rest of world (remaining countries of the LAMEA region) Biometric Market
Major Players Operating in the Biometric Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
- Thales Group
- NEC Corporation
- Fujitsu Ltd.
- Suprema Inc.
- Iris ID
- Crossmatch Technologies
- IDEX Biometrics
- Aware Inc.
- ASSA ABLOY AB
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