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Global Biometric System Market: By Authentication Type and Technology: Single-Factor Authentication, Multi-Factor Authentication; By Offering: Hardware, Software; By Type; By Vertical; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Biometric System Market Outlook

The global biometric system market attained a value of about USD 41.47 billion in 2021. The market is further expected to grow at a CAGR of 13.30% during the forecast period of 2022-2027 to reach nearly USD 87.72 billion by 2027.

 

Rising Deployment of Authentication Technology in Smartphones to Aid the Market Growth of Biometric System

The global market for biometric system is being driven by the rising cases of digital fraud. The d igitisation of various services allows for smooth operations but are at the same time vulnerable to threats, such as cyberattacks, identity theft, and payment frauds, among others.

 

Global Biometric System Market

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Hence, to diminish the concerns of such fraudulent activities, a biometric system is being deployed in various sectors to enhance the security of operations and safeguard the interests of people. In addition, owing to the rising incomes of people, the penetration of smartphones is encouraging the implementation of various security innovations, which is augmenting the overall market growth of biometric system.

The single-factor authentication segment of the biometric system is the fastest growing segment due to the implementation of fingerprint recognition and face recognition features in electronic appliances like smartphones and laptops.  Furthermore, multi-factor authentication solutions are emerging solutions in applications like WhatsApp, and Facebook to provide enhanced security to its users. Hence, the deployment of authentication technology in consumer electronic devices are propelling the market growth of biometric system.

 

Biometric System: Industry Definition and Segmentation:

A biometric system refers to a system that allows a person to be identified and authenticated based on recognisable and verifiable data using mathematical algorithms and biometric data.

The market, based on authentication type and technology, can broadly be segmented into:

  • Single-Factor Authentication
  • Multi-Factor Authentication

Single-factor authentication can be further divided into fingerprint recognition, iris recognition, palm print recognition, face recognition, vein recognition, signature recognition, and voice recognition, among others.

Multi-factor authentication can be further divided into biometric smart card, biometric pin, and multimodal.

On the basis of offering, the market can be categorised into:

  • Hardware
  • Software

The hardware segment can be further divided into fingerprint readers, scanners, and camera, among others.

On the basis of type, the market can be divided into:

  • Contact Based
  • Contactless
  • Hybrid

On the basis of vertical, the market can be segmented into:

  • Government
  • Military and Defence
  • Healthcare
  • Banking and Finance
  • Consumer Electronics
  • Travel and Immigration
  • Automotive
  • Security
  • Others

The EMR report looks into the regional markets of biometric system like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

 

Deployment of Biometric Solutions by Government Sector to Aid in the Market Growth of Biometric System

The growth in the global market for biometric solutions can be attributed to the rising adoption of authentication solutions by various end-use sectors to streamline security operations. The government sector is significantly contributing to the market growth of biometric system as the issue of security is integral to a country’s safety. Authentication solutions allow to enhance security in restricted areas and are accurate authentication solutions for various government applications, including national identification cards, passports, and voter registrations, among others, thereby propelling the industry growth.

The development of technologies from fingerprint recognition to face, eye, and voice biometrics with the introduction of artificial intelligence (AI), are augmenting the market growth. In addition, owing to large investments in the IT sector, advances in facial recognition system deployed in law enforcement firms and military operations allows to authenticate a person’s identity from a distance, hence ensuring maximum security, thereby boosting the demand for biometric system in government sector.

 

Key Industry Players in the Global Biometric System Market

The report presents a detailed analysis of the following key players in the global biometric system market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:

  • Thales Group
  • Safran S.A.
  • NEC Corporation
  • Assa Abloy AB
  • Fujitsu Limited
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical
and Forecast Market Analysis by Segment- Authentication Type and Technology, Offering, Type, Vertical, Region
Breakup by Authentication Type and Technology Single-Factor Authentication, Multi-Factor Authentication
Breakup by Offering Hardware, Software
Breakup by Type Contact Based, Contactless, Hybrid
Breakup by Vertical Government, Military and Defence, Healthcare, Banking and Finance, Consumer Electronics, Travel and Immigration, Automotive, Security, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Thales Group, Safran S.A., NEC Corporation, Assa Abloy AB, Fujitsu Limited, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Biometric System Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Biometric System Historical Market (2017-2021) 
    8.3    Global Biometric System Market Forecast (2022-2027)
    8.4    Global Biometric System Market by Authentication Type and Technology
        8.4.1    Single-Factor Authentication
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Fingerprint Recognition
                8.4.1.4.2    Iris Recognition
                8.4.1.4.3    Palm Print Recognition
                8.4.1.4.4    Face Recognition
                8.4.1.4.5    Vein Recognition
                8.4.1.4.6    Signature Recognition
                8.4.1.4.7    Voice Recognition
                8.4.1.4.8    Others
        8.4.2    Multi-Factor Authentication
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Biometric Smart Card
                8.4.2.4.2    Biometric Pin
                8.4.2.4.3    Multimodal
    8.5    Global Biometric System Market by Offering
        8.5.1    Hardware
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
            8.5.1.4    Breakup by Type
                8.5.1.4.1    Fingerprint Readers
                8.5.1.4.2    Scanners
                8.5.1.4.3    Cameras
                8.5.1.4.4    Others
        8.5.2    Software
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Biometric System Market by Type
        8.6.1    Contact Based
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Contactless
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Hybrid
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
    8.7    Global Biometric System Market by Vertical
        8.7.1    Government
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Military and Defence
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    Healthcare
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021)
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Banking and Finance
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2017-2021)
            8.7.4.3    Forecast Trend (2022-2027)
        8.7.5    Consumer Electronics
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2017-2021)
            8.7.5.3    Forecast Trend (2022-2027)
        8.7.6    Travel and Immigration
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2017-2021)
            8.7.6.3    Forecast Trend (2022-2027)
        8.7.7    Automotive
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2017-2021)
            8.7.7.3    Forecast Trend (2022-2027)
        8.7.8    Security
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2017-2021)
            8.7.8.3    Forecast Trend (2022-2027)
        8.7.9    Others
    8.8    Global Biometric System Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Spain
            9.2.3.6    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Thales Group
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Safran S.A.
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    NEC Corporation
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Assa Abloy AB
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Fujitsu Limited
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Global Biometric System Market: Key Industry Highlights, 2017 and 2027
2.    Global Biometric System Historical Market: Breakup by Authentication Type and Technology (USD Billion), 2017-2021
3.    Global Biometric System Market Forecast: Breakup by Authentication Type and Technology (USD Billion), 2022-2027
4.    Global Biometric System Historical Market: Breakup by Offering (USD Billion), 2017-2021
5.    Global Biometric System Market Forecast: Breakup by Offering (USD Billion), 2022-2027
6.    Global Biometric System Historical Market: Breakup by Type (USD Billion), 2017-2021
7.    Global Biometric System Market Forecast: Breakup by Type (USD Billion), 2022-2027
8.    Global Biometric System Historical Market: Breakup by Vertical (USD Billion), 2017-2021
9.    Global Biometric System Market Forecast: Breakup by Vertical (USD Billion), 2022-2027
10.    Global Biometric System Historical Market: Breakup by Region (USD Billion), 2017-2021
11.    Global Biometric System Market Forecast: Breakup by Region (USD Billion), 2022-2027
12.    North America Biometric System Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    North America Biometric System Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Europe Biometric System Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Europe Biometric System Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Asia Pacific Biometric System Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Asia Pacific Biometric System Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Latin America Biometric System Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Latin America Biometric System Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Middle East and Africa Biometric System Historical Market: Breakup by Country (USD Billion), 2017-2021
21.    Middle East and Africa Biometric System Market Forecast: Breakup by Country (USD Billion), 2022-2027
22.    Global Biometric System Market Structure

Key Questions Answered in the Report

The global biometric system market attained a value of nearly USD 41.47 billion in 2021.

The market is projected to grow at a CAGR of 13.30% in the forecast period of 2022-2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 87.72 billion by 2027.

The industry is being driven by the deployment of single-factor authentication solutions like fingerprint recognition and face recognition technologies in smartphones and laptops.

The market for biometric system is being propelled by the increasing utilisation of biometric system in the government sector to provide enhanced security and prevent frauds.

The major regional markets for biometric system are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

The major authentication types and technologies of biometric system include single-factor authentication and multi-factor authentication.

Biometric system are broadly offered in hardware and software.

The different types of biometric system are contact based, contactless, and hybrid.

The major verticals of biometric system are government, military and defence, healthcare, banking and finance, consumer electronics, travel and immigration, automotive, and security, among others.

The major players in the industry are Thales Group, Safran S.A., NEC Corporation, Assa Abloy AB, and Fujitsu Limited, among others.

Analyst Review

The global biometric system market attained a value of about USD 41.47 billion in 2021, driven by the rising demand for single-factor authentication technology in consumer electronics. Aided by deployment of biometric system in government sector, the market is expected to grow at a CAGR of 13.30% in the forecast period of 2022-2027 to reach nearly USD 87.72 billion by 2027.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of authentication type and technology, the market is divided into single factor authentication and multi-factor authentication. Based on offering, the market can be segmented into hardware and software. On the basis of type, the market can broadly be categorised on the basis of type into contact based, contactless, and hybrid. The market, based on vertical, can be divided into government, military and defence, healthcare, banking and finance, consumer electronics, travel and immigration, automotive, and security, among others. The major regional markets for biometric system are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Thales Group, Safran S.A., NEC Corporation, Assa Abloy AB, and Fujitsu Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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