We are monitoring the impact of COVID-19 on Biometrics Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 9491
Share on
Share on

Global Biometrics Market Report – Segmentation By Application (Government, Healthcare, Defense, Banking And Finance, Travel And Immigration, Consumer Electronics And Security), By Authentication Type (Facial Identification, Signature Identification, Voice, Fingerprint, Iris Recognition, Palm And Vein Recognition, and others), By End-Use (Device Authentication, Point Of Sale Transactions, Mobile Banking, Government IT Systems, ATMs, Authentication And Distribution Of Portable Pharmaceutical Products), By Use Cases (Consumer and Business), Regional Outlook, Competitive Strategies, And Segment Forecasts, 2021 To 2026

Pulished: April, 2021
ID: 9491
Pages: 150

Global Biometrics Market Size & Growth Analysis (2020 - 2025)

The global market for biometric systems is expected to grow from US$ 33.0 billion in 2019 to US$ 65.3 billion in 2025, registering an annual growth rate of 14.6% over the outlook period.

Biometrics includes individual authentication by assessing unique biological traits. This authentication is possible thanks to the geometry of the hand, voice recognition, identification of fingerprints, verification of the signature, among others. Biometrics is known to offer better protection compared to digital codes and physical security equipment. Many technologies are developed to respond to individual identification with advances in hardware, readers, sensors, pattern recognition, and image and signal processing technologies.

The deployment of biometrics is also becoming compulsory in several advanced economies. For example, the government of Singapore announced plans to test a national facial biometric digital identity system in November 2018. These biometric solutions would allow banks and healthcare facilities to identify users. Increasing improvements in government investments and initiatives to implement biometrics will encourage the market to display a CAGR of more than 15% over the forecast period.

Recent developments:

  • April 2019: Thales finalized the acquisition of Gemalto for 4.8 billion euros, forming a global security giant, in order to offer biometrics and other digital security and identity technologies to providers of critical infrastructure, such as banks, government agencies, telecom and utility companies.

Market growth and trends:

The global biometrics market is expected to experience significant growth due to the need for precise identity-based IT solutions and advanced security mechanisms to combat the rise of terrorism and criminal activity. Biometric systems are increasingly becoming prerequisites for identification and verification by governments around the world. In addition, the booming growth of technology comes from its massive use of e-commerce and cloud computing.

Banking and financial sector will be the fastest growing sector

  • The main banks around the world are implementing biometric authentication. Some of the giants in the industry that allow fingerprint banking authentication are JP Morgan Chase, Bank of America and Wells Fargo.
  • Voice authentication is also being adopted in several bank call centers to identify customers. Next-generation biometric authentication can improve customer satisfaction by eliminating the need for passwords and therefore increasing the demand for biometric data implementation in the banking sector.
  • Wells Fargo is currently working on developing a payment solution, which can identify the voice of its customers to authenticate financial transactions and access various banking services. While other banks and financial institutions still focus on voice biometrics and only use it to provide customers with access to information, such as account balances, etc., to authenticate payments.

The integration of biometrics into smartphones, the introduction of electronic passports, and the increasing adoption of technology in sectors such as healthcare and banking should stimulate demand in the biometrics market. Additionally, various technological advancements, higher disposable incomes, and increased technology awareness are expected to increase demand. Biometric data protection is increasingly replacing photographs, passports, and PIN codes in government centers, educational institutions, and the workplace.

Market Drivers and Restraints:

The increasing implementation in various vertical sectors, such as mobile devices, health, and financial institutions, has had a positive impact on the growth of the biometric market. With constant technological advances, mobile banking has gained strong acceptance among consumers due to its security feature that has fuelled the growth of the industry. Furthermore, the increased use in criminal identification associated with government initiatives is contributing to significant demand in the biometric market.

The increase in government initiatives to implement biometrics is one of the key factors that should stimulate market growth in the years to come. The increasing attention of governments to provide cost-effective, efficient, and safe services to their citizens is encouraging the adoption of biometrics, especially in emerging economies. National identification systems, including electronic passport and identity card programs, are expected to be implemented in several countries, including Germany, Colombia, Spain, Italy, Belgium, and Argentina.

The global biometric market should be stimulated by an increase in innovative technologies characterized by precision and lower implementation costs. EEG and EKG are emerging technologies that should stimulate the market. These techniques map out the distinct nature of the cardiac and brain patterns of specific individuals that allow for increased fraud resistance. Behavioral identification models such as typing pace, gait, and voice are gaining popularity due to the need for stronger security systems. The operational signature is a form of identification to capture the way a person uses it as a verification model. It must be used in remote robotic surgery systems to distinguish individual users.

High implementation costs are supposed to pose a threat to the industry in time. Uncertainty about stored data will hamper the industry, as confidential identification data stored in databases such as fingerprints can lead to illegal access or misuse. Additionally, customer fear of nuisance or intrusion of privacy will limit the size of the biometric market.

The global biometrics market is segmented as follows:

Depending on the application, the biometric market can be segmented into government, healthcare, defense, banking and finance, travel and immigration, consumer electronics, and security. Consumer electronics, banking, and financial services are expected to experience significant growth over the prediction period.

End-use segmentation includes device authentication, point of sale transactions, mobile banking, government IT systems, ATMs, authentication and distribution of portable pharmaceutical products.

By type of authentication, the market can be segmented into facial identification, signature identification, voice, fingerprint, iris recognition, palm and vein recognition, among others. Fingerprint recognition is likely to rule the global industry over the estimated period. However, iris and face recognition should experience significant growth. Additionally, voice recognition is likely to experience significant growth due to consumer preference for a more secure identity mechanism.

The use cases of biometrics can be divided into two segments, including consumer and business. Consumer use cases include high volume sales at a lower price, such as identifying and using security on mobile devices and other consumer electronic devices, allowing limited access to personal and corporate data. They mainly use technologies such as fingerprint identification, cost-effective technology for the consumer segment. Business use cases primarily implement more advanced technology at a higher cost, but the transaction volumes they perform are relatively small. The government and defense sectors use advanced mechanisms to locate criminals and maintain internal security.

Regional Analysis:

North America is deemed to lead the global biometric industry because of a technologically advanced infrastructure along with the widespread adoption of technology in nations like the USA. Asia-Pacific is foreseen to experience significant growth due to various government initiatives to adopt technology in countries like India, which will stimulate demand.

Key market players:

The main suppliers of the biometric systems industry are Bio-Key International Inc., Fulcrum, Safran SA, 3M Cogent Inc., NEC Corporation, Fujitsu Ltd., Cross Match Technologies, Suprema Inc., Thales SA and Secunet Security Networks AF.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Biometric Market, By Application                      

                                6.1.1 Government          

                                6.1.2 Healthcare              

                                6.1.3 Defense   

                                6.1.4 Banking And Finance          

                                6.1.5 Travel And Immigration     

                                6.1.6 Consumer Electronics         

                                6.1.7 Security    

                                6.1.8 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.9 Y-o-Y Growth Rate Analysis             

                                6.1.10 Market Attractiveness Index        

                6.2 Biometric Market, By Authentication Type                   

                                6.2.1 Facial Identification             

                                6.2.2 Signature Identification     

                                6.2.3 Voice Recognition

                                6.2.4 Fingerprint              

                                6.2.5 Iris Recognition     

                                6.2.6 Palm And Vein Recognition              

                                6.2.7 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.8 Y-o-Y Growth Rate Analysis             

                                6.2.9 Market Attractiveness Index          

                6.3 Biometric Market, By End-Use                           

                                6.3.1 Device Authentication       

                                6.3.2 Point Of Sale Transactions

                                6.3.3 Mobile Banking     

                                6.3.4 Government IT Systems   

                                6.3.5 ATMs         

                                6.3.6 Authentication And Distribution Of Portable Pharmaceutical Products         

                                6.3.7 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.8 Y-o-Y Growth Rate Analysis             

                                6.3.9 Market Attractiveness Index          

                6.4 Biometric Market, By Use Cases                        

                                6.4.1 Consumer               

                                6.4.2 Business   

                                6.4.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.4 Y-o-Y Growth Rate Analysis             

                                6.4.5 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Application        

                                7.2.3 By Authentication Type     

                                7.2.4 By End-Use             

                                7.2.5 By Use Cases          

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Application        

                                7.3.3 By Authentication Type     

                                7.3.4 By End-Use             

                                7.3.5 By Use Cases          

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Application        

                                7.4.3 By Authentication Type     

                                7.4.4 By End-Use             

                                7.4.5 By Use Cases          

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Application        

                                7.5.3 By Authentication Type     

                                7.5.4 By End-Use             

                                7.5.5 By Use Cases          

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Application        

                                7.6.3 By Authentication Type     

                                7.6.4 By End-Use             

                                7.6.5 By Use Cases          

8. Key Player Analysis                                    

                8.1 Bio-Key International Inc                      

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Fulcrum                        

                8.3 Safran SA                     

                8.4 3M Cogent Inc                           

                8.5 NEC Corporation                      

                8.6 Fujitsu Ltd                   

                8.7 Cross Match Technologies                   

                8.8 Suprema Inc                               

                8.9 Thales SA                     

                8.10 Secunet Security Networks AF                        

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of by application, by authentication type, by end-use, by use cases along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Biometric Market By Region, From 2020-2025 ( USD Billion )
  2. Global Biometric Market By Application, From 2020-2025 ( USD Billion )
  3. Global Government Market By Region, From 2020-2025 ( USD Billion )
  4. Global Healthcare Market By Region, From 2020-2025 ( USD Billion )
  5. Global Defense Market By Region, From 2020-2025 ( USD Billion )
  6. Global Banking And Finance Market By Region, From 2020-2025 ( USD Billion )
  7. Global Travel And Immigration Market By Region, From 2020-2025 ( USD Billion )
  8. Global Consumer Electronics Market By Region, From 2020-2025 ( USD Billion )
  9. Global Security Market By Region, From 2020-2025 ( USD Billion )
  10. Global Biometric Market By Authentication Type, From 2020-2025 ( USD Billion )
  11. Global Facial Identification Market By Region, From 2020-2025 ( USD Billion )
  12. Global Signature Identification Market By Region, From 2020-2025 ( USD Billion )
  13. Global Voice Recognition Market By Region, From 2020-2025 ( USD Billion )
  14. Global Fingerprint Market By Region, From 2020-2025 ( USD Billion )
  15. Global Iris Recognition Market By Region, From 2020-2025 ( USD Billion )
  16. Global Palm And Vein Recognition Market By Region, From 2020-2025 ( USD Billion )
  17. Global Biometric Market By End-Use, From 2020-2025 ( USD Billion )
  18. Global Device Authentication Market By Region, From 2020-2025 ( USD Billion )
  19. Global Point Of Sale Transactions Market By Region, From 2020-2025 ( USD Billion )
  20. Global Mobile Banking Market By Region, From 2020-2025 ( USD Billion )
  21. Global Government IT Systems Market By Region, From 2020-2025 ( USD Billion )
  22. Global ATMs Market By Region, From 2020-2025 ( USD Billion )
  23. Global Authentication And Distribution Of Portable Pharmaceutical Products Market By Region, From 2020-2025 ( USD Billion )
  24. Global Biometric Market By Use Cases, From 2020-2025 ( USD Billion )
  25. Global Consumer Market By Region, From 2020-2025 ( USD Billion )
  26. Global Business Market By Region, From 2020-2025 ( USD Billion )

Please wait. . . . Your request is being processed

LICENCE TYPE

$ 1234 4255

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample