IMARC Group’s latest research report, titled “Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the biometrics market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global biometrics market size reached US$ 33.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 87.4 Billion by 2028, exhibiting a growth rate (CAGR) of 17.36% during 2023-2028.
Global Biometrics Industry Outlook:
Biometrics is the technology that involves measuring and analyzing biological data using human body characteristics. These are known as biometric identifiers that include DNA, fingerprints, voice patterns, facial patterns, eye retinas and irises and hand measurements for authentication purposes. They are measurable and distinctive characteristics that are widely utilized to label and describe individuals. Biometrics authentication is used for identification, providing access control and identifying individuals in groups. With the growing need for authenticating a person’s identity for accessing sensitive data, such as financial information or medical records, there has been a considerable rise in the demand for biometrics across the globe.
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Top Companies In Biometrics Market:
- Accu-Time Systems
- BIO-Key International, Inc.
- Cognitec Systems, GmbH
- Fujitsu Limited
- 3M Cogent, Inc.
- IDTECK
- NEC Corporation
- Siemens AG
- RCG Holdings, Ltd.
- Suprema, Inc.
- Lumidigm, Inc.
- IrisGuard, Inc.
- Daon, Inc.
- DigitalPersona, Inc.
- Morpho SA (Safran)
Global Biometrics Industry Demand:
The increasing adoption of authentication and identification solutions across numerous industry verticals majorly drives the global market. This can be attributed to the rising deployment of security and surveillance solutions in various application areas due to the growing threat of terrorist attacks. As organizations strive to protect their data and assets, they are heavily investing in biometrics as a reliable and secure authentication solution as it provides a higher level of authentication than is acting as another growth-inducing factor.
Apart from this, the rising integration of biometric technology in smartphones is also significantly supporting the market. Moreover, the advent of multimodal biometrics that utilizes more than one physiological or behavioural characteristic is creating a positive market outlook.
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Key Market Segmentation:
Breakup by Technology:
- Face Recognition
- Hand Geometry
- Voice Recognition
- Signature recognition
- Iris recognition
- POSTER
- Non-AFIS
- Others
Breakup by Functionality:
- Contact
- Non-contact
- Combined
Breakup by Authentication:
- Single-Factor Authentication
- Multifactor Authentication
Breakup by Component:
- Hardware
- Software
Breakup by End-User:
- Government
- Defense Services
- Banking and Finance
- Consumer Electronics
- Healthcare
- Commercial Safety and Security
- Transport/Visa/Logistics
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Biometrics Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Biometrics Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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