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Global Biometrics Market Size, Share, Growth, Forecast: By Component: Solution, Services; By Biometric Type: Voice Recognition, Hand Geometry, Face Recognition, Iris Recognition, Signature Recognition, Fingerprint, Others; By Contact Type: Contact Based, Others; By Authentication; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Biometrics Market Outlook
The global biometrics market size was nearly USD 25.21 billion in 2023. The market is projected to grow at a CAGR of 10.2% during 2024-2032, to reach around USD 60.18 billion by 2032.
Key Trends in the Market
Biometrics refers to the analysis of physical traits or personal behaviour for identifying and verifying an individual. It uses facial images, fingerprints, hand geometry and iris scan samples to recognise and store the identity of a person. Biometric characteristics are unique, accurate, and distinctive in nature.
- The biometrics market growth can be associated with growing incidences of identity thefts, cybercrime, document fraud, and terrorism. Biometrics cannot be easily shared, replicated, or lost due to its unique nature and superiority to other security methods like passwords and PINs.
- Increasing affordability of IP cameras, software solutions, and sensors, coupled with the convenience offered by biometric systems, is surging the applications of biometrics in public security, law enforcement, healthcare, migration and border control, and civil identification, among others.
- Advancements in artificial intelligence (AI) are anticipated to revolutionise the biometrics market demand in the forecast period. AI can empower biometric systems to precisely identify faces, improve the false acceptance ratio on different ethnic groups, deliver non-common solutions for fingerprints, and enhance the accuracy of speech detection and behaviour recognition.
- The development of new markers like heartbeat pattern recognition, hand geometry, odour recognition, and DNA signature are expected to surge the usage of biometric systems in high-security applications. Moreover, increasing research and development (R&D) applications for the creation of 3D scanning technologies that can provide all-round details of an individual's fingerprint and face are likely to fuel the market expansion in the coming years.
Biometrics Market Segmentation
Based on component, the market is bifurcated into solution and services. On the basis of biometric type, the market is segmented into voice recognition, hand geometry, face recognition, iris recognition, signature recognition, and fingerprint, among others.
The market, on the basis of contact types, is divided into contact based, non-contact based, and hybrid. On the basis of authentication, the market is bifurcated into single-factor authentication and multifactor authentication.
By end use, the market can be categorised into BFSI, government and law enforcement, commercial and retail, healthcare, and travel and immigration, among others. The major regional markets for biometrics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global biometrics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Fujitsu Ltd.
- NEC Corporation
- M2SYS Technology
- Leidos Holdings Inc.
- Thales SA
- Aware, Inc.
- Imageware Systems, Inc.
- Accu-Time Systems, Inc.
- S.I.C. Biometrics Global Inc.
- Phonexia s.r.o.
- Others
Market Share by End Use
As per the biometrics market analysis, the use of the technology in the BFSI sector is significantly increasing due to increasing security concerns. Biometrics, including fingerprint sensors, facial recognition, and voice recognition technology, are increasingly used by BFSI organisations to ensure regulatory compliance and create a secure and smooth digital identity verification processes.
Banks also use biometrics to defend against fraud, provide secure and convenient alternative authentication method, and meet with regulatory compliances such as Anti-Money Laundering Controls and Know Your Customer (KYC).
Market Share by Region
North America represents a significant portion of the biometrics market share amid technological advancements and innovations and the growing demand for convenient verification processes. Sectors like finance, information technology, and government in the region are increasingly using biometric systems.
Moreover, the growing popularity of mobile payments in countries like the United States is surging the demand for biometric hardware and software solutions. Meanwhile, the Asia Pacfic is anticipated to witness a healthy growth in the forecast period due to increasing adoption of face recognition technology in different applications like retail and law enforcement.
Competitive Landscape
Fujitsu Ltd., founded in 1935 and headquartered in Tokyo, is a Japanese multinational information and communication corporation. The company offers services to suit various requirements of its clients like cost, functionality, and other criteria, for optimal results. One of its products is PalmSecure, a palm vein pattern recognition system that is market-proven and one of the most credible biometrics authentication solutions currently available.
NEC Corporation is a Japanese multinational information technology and electronics corporation. It was founded in 1899 and is currently headquartered in Tokyo. Its six original biometrics authentication technologies are face recognition, iris recognition, fingerprint/palmprint recognition, voice recognition, and ear acoustic authentication, which are proven to be best of their class in the world.
Thales SA, founded in 2000 and headquartered in Paris, France, manufactures and develops electrical systems as well as devices and equipment for the aerospace, defence, transportation, and security sectors. There biometrics technology assists the government solve crimes, prevent deception in voting, and guard borders. Thales Cogent Fingerprint Scanners can record high quality images in rapid, quick, and easy manner.
Other biometrics market players are M2SYS Technology, Leidos Holdings Inc., Aware, Inc., Imageware Systems, Inc., Accu-Time Systems, Inc., S.I.C. Biometrics Global Inc., and Phonexia s.r.o., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Biometric Type |
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| Breakup by Contact Type |
|
| Breakup by Authentication |
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| Breakup by End Use |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Biometrics Market Analysis
8.1 Key Industry Highlights
8.2 Global Biometrics Historical Market (2018-2023)
8.3 Global Biometrics Market Forecast (2024-2032)
8.4 Global Biometrics Market by Component
8.4.1 Solution
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Biometrics Market by Biometric Type
8.5.1 Voice Recognition
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Hand Geometry
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Face Recognition
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Iris Recognition
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Signature Recognition
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Fingerprint
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Biometrics Market by Contact Type
8.6.1 Contact Based
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Non-Contact Based
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Hybrid
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Biometrics Market by Authentication
8.7.1 Single-Factor Authentication
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Multifactor Authentication
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Biometrics Market by End Use
8.8.1 BFSI
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Government and Law Enforcement
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Commercial and Retail
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Healthcare
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Travel and Immigration
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
8.8.6 Others
8.9 Global Biometrics Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Biometrics Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Biometrics Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Biometrics Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Biometrics Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Biometrics Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Fujitsu Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 NEC Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 M2SYS Technology
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Leidos Holdings Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Thales SA
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Aware, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Imageware Systems, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Accu-Time Systems, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 S.I.C. Biometrics Global Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Phonexia s.r.o.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Biometrics Market: Key Industry Highlights, 2018 and 2032
2. Global Biometrics Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Biometrics Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Biometrics Historical Market: Breakup by Biometric Type (USD Billion), 2018-2023
5. Global Biometrics Market Forecast: Breakup by Biometric Type (USD Billion), 2024-2032
6. Global Biometrics Historical Market: Breakup by Contact Type (USD Billion), 2018-2023
7. Global Biometrics Market Forecast: Breakup by Contact Type (USD Billion), 2024-2032
8. Global Biometrics Historical Market: Breakup by Authentication (USD Billion), 2018-2023
9. Global Biometrics Market Forecast: Breakup by Authentication (USD Billion), 2024-2032
10. Global Biometrics Historical Market: Breakup by End Use (USD Billion), 2018-2023
11. Global Biometrics Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12. Global Biometrics Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Biometrics Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Biometrics Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Biometrics Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Biometrics Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Biometrics Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Biometrics Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Biometrics Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Biometrics Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Biometrics Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Biometrics Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Biometrics Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Biometrics Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 25.21 billion.
The market is projected to grow at a CAGR of 10.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 60.18 billion by 2032.
The major market drivers are growing security concerns, rising adoption of biometrics in end-use sectors such as BFSI and healthcare, and technological advancements.
The key trends of the market include growing incidences of identity thefts, cybercrime, document fraud, and terrorism, increasing affordability of IP cameras, sensors and other smart devices, advancements in artificial intelligence (AI), and development of new markers in high-security applications.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Different components are solution and services.
The key players in the market are Fujitsu Ltd., NEC Corporation, M2SYS Technology, Leidos Holdings Inc., Thales SA, Aware, Inc., Imageware Systems, Inc., Accu-Time Systems, Inc., S.I.C. Biometrics Global Inc., and Phonexia s.r.o., among others.
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