Biometric Market

Biometric Market Overview

Biometrics is the use of a person’s behavioural and physical characteristics of a person as a mean of authentic identity for them. The behavioural and physical characteristics of every individual are unique and the biometric system are having numerous advancements to improve its performance in the field of security and surveillance. The behavioural characteristics considers the person’s voice, keystroke & signature, while the physical characteristics considers the fingerprint, face, hand, iris, and DNA.

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Major Biometric Market Drivers

The global biometric market is anticipated to witness an upsurge in demand over the forecast period. The key drivers that are contributing to the growth of the market include the growing number of problems of identity proof, which is unique to every individual, and the increasing requirement for technologically advanced security and surveillance. The rising trend of ePassport and eVisa is further bringing innumerable growth opportunities in the market. The biometrics is widely used in different sectors such as personal and national security, law enforcement, governance, and healthcare. Biometrics identification and security have become an integral part of electronic devices, including smartphones and laptops. The strong demand for electronic products is surging the demand for biometrics around the world.

Various government initiatives are being launched to utilize this technology for several national-level policies and identification applications. India’s AADHAR project is a perfect example of this system and, by far, the largest biometric identification system in the world. Numerous financial institutions such as the banks are planning to convert their customer base identification through biometrics, which in turn, will bring innumerable growth opportunities in the market. The fingerprint identification technology is capturing a large portion of the market as all other technologies are slowly and steadily penetrating the market. Moreover, the reducing price of biometrics technology is further accelerating the market’s growth.

With the outbreak of the COVID-19 crisis, the biometrics systems are being widely adopted for early detection, patient screening, and public safety monitoring to eliminate the spread of the coronavirus. In addition to this, the increasing application of biometrics in face recognition and surveillance operations systems to detect individuals who are not wearing protective masks is another factor that is further energizing the demand of the market.

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Based on the authentication type, the single factor segment is expected to grow at a higher CAGR during the forecast period. Fingerprint recognition is the most common biometric solution used across various sectors such as banking & finance, healthcare, among others. In addition to this, in the government and travel & immigration sector, the demand for fingerprint solutions is increasing for e-passport or e-visa and issuing of the driving license. Fingerprint biometric solution is low cost and easy to install, which is further fuelling the market growth.

Based on offering, the software segment is anticipated to grow at a higher CAGR during the forecast period owing to the increasing adoption of cloud-based solution and services along with Artificial Intelligence (AI) for Biometric which is propelling the growth of the software as it provides compatibility between the device and operating systems for different application. The software also enables the feature to integrate add-on features in existing hardware by updating the software to users.

On the basis of functionality, contact functionality is expected to grow at a higher CAGR over the forecast period. It includes palm, fingerprint, and signature recognition systems. Increasing penetration of fingerprint solutions across industries is driving the market growth of contact functionality. Signature recognition is also gaining traction due to the low procurement and deployment associated with this technology.

Based on End-user, the government segment is expected to grow at a higher CAGR owing to the increasing initiative to ensure public safety. The healthcare sector uses biometrics to enhance diagnosis & treatment and efficiency in clinical processes. Biometric is used in banking and finance due to its east access feature. Travel and immigration apply biometric owing to increasing security concerns of various nations.

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Regional – Segment Analysis

On the basis of the region, the North American region is predicted to witness higher CAGR over the forecast period. The US and Canada have a strong economy, which empowers them to invest in several public safety activities. The increasing adoption of smart technologies and the rapid digitalization has further accelerated the biometric market growth in this region. The growing number of government initiatives in North American countries—such as the US, Canada, and Mexico – for large-scale funded programs such as e-passports and e-visas are attracting many end-users to opt for Biometric. The US Department of Defense and Department of Homeland Security have been implementing fingerprint biometrics to facilitate physical and digital access and combat security issues. Furthermore, the large presence of key players, including Aware (US) and Cross Match Technologies (US), is further contributing to the growth of the market in this region.

Top Market Players

Various notable players operating in the market include NEC Corporation, Suprema Inc., Iris ID, Fujitsu Ltd., Idemia, Crossmatch Technologies, Fujitsu Ltd., Ultinous, IDEX Biometrics, and Aware Inc., among others.

 Key Developments: 

• • In 2020, NEC Corporation announced the development of a multimodal biometric authentication terminal equipped with face and iris recognition technologies.
  • In 2020, Idemia launched a new tablet combining fingerprint and facial biometrics technology. This ID screen is an ideal ID enrolment and verification tool for a large variety of mobility use cases for several governments and enterprises.
  • In 2019, Fujitsu Ltd., launched its new range of biometric ID solutions to ease the providing of proving physical and logical access in various applications.

Segments covered in the Report:

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.

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Key questions answered in this research report:

• • At what pace is the global Biometric market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global Biometric market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Biometric market?
  • Which Authentication Type generated maximum revenues in 2019 and identify the most promising Authentication Type during the forecast period?
  • What are the various Offerings of the global Biometric market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Authentication Type, By Offering, By Functionality, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Thales Group, NEC Corporation, Fujitsu Ltd., Suprema Inc., Iris ID, Idemia, Crossmatch Technologies, Ultinous, IDEX Biometrics, Synaptics, Aware Inc., ASSA ABLOY AB among others; A total of 10 Companies Covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Biometric Market by Authentication Type

• • Single-Factor Authentication
    • Fingerprint Recognition
      • AFIS
      • Non-AFIS
    • Iris Recognition
    • Palm Print Recognition
    • Face Recognition
    • Vein Recognition
    • Signature Recognition
    • Voice Recognition
    • Others
      • 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

• • Hardware
    • Fingerprint Readers
    • Scanners
    • Cameras
    • Others
  • Software

Global Biometric Market by Functionality

• • Contact Functionality
  • Non-Contact Functionality
  • Combined Functionality

Global Biometric Market by End-User

• • Government
  • Military & Defense
  • Healthcare
  • Banking & Finance
  • Consumer Electronics
  • Travel & Immigration
  • Automotive
  • Security
    • Residential Security
    • Commercial Security
  • Others

Global Biometric Market by Region

• • North America Biometric Market (Option 1: As a part of the free 25% customization)

    • North America Biometric Market by Authentication Type
    • North America Biometric Market by Offering
    • North America Biometric Market by Functionality
    • North America Biometric Market by End-User
    • US Biometric Market All-Up
    • Canada Biometric Market All-Up

  • Europe Biometric Market (Option 2: As a part of the free 25% customization)

    • Europe Biometric Market by Authentication Type
    • Europe Biometric Market by Offering
    • Europe Biometric Market by Functionality
    • Europe Biometric Market by End-User
    • UK Biometric Market All-Up
    • Germany All-Up Biometric Market All-Up
    • France Biometric Market All-Up
    • Spain Biometric Market All-Up
    • Rest of Europe Biometric Market All-Up

  • Asia-Pacific Biometric Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Biometric Market by Authentication Type
    • Asia-Pacific Biometric Market by Offering
    • Asia-Pacific Biometric Market by Functionality
    • Asia-Pacific Biometric Market by End-User
    • China Biometric Market All-Up
    • India Biometric Market All-Up
    • Japan Biometric Market All-Up
    • Rest of APAC Biometric Market All-Up

  • RoW Biometric Market (Option 4: As a part of the free 25% customization)

    • RoW Biometric Market by Authentication Type
    • RoW Biometric Market by Offering
    • RoW Biometric Market by Functionality
    • RoW Biometric Market by End-User
    • Brazil Biometric Market All-Up
    • South Africa Biometric Market All-Up
    • Saudi Arabia Biometric Market All-Up
    • UAE Biometric Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Biometric Market All-Up

Major Players Operating the Biometric (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
  • Idemia
  • Crossmatch Technologies
  • Ultinous
  • IDEX Biometrics
  • Synaptics
  • Aware Inc.
  • ASSA ABLOY AB