Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

ID: 4763135 Report April 2019 Region: Global 115 pages IMARC Group

The global biometrics market reached a value of US$ 16.7 Billion in 2018. Biometrics refers to processes that are used to recognize, identify and authenticate people based on their physical or behavioral characteristics. They match an individual’s identifiers to their biometric template already stored in the database. Biometrics identifiers can be divided into two categories, namely, physiological and behavioral characteristics. Physiological characteristics include fingerprint, palm print, palm veins, hand geometry, face, DNA, iris and retina, whereas behavioral characteristics comprise typing patterns, voice and signature recognition. Biometrics technologies are employed across schools, colleges, and corporate and government offices as they are reliable, accurate and difficult to forge.

Global Biometrics Market Drivers:

Biometrics technologies, especially fingerprint recognition systems, have witnessed acceptance on a global level owing to their affordability and easy usage. The rising adoption of fingerprint recognition in mobiles, tablets and cloud computing is expected to create a positive outlook for the biometric technologies market. Apart from this, biometrics technologies are employed across numerous government organizations for reliable, stable and enhanced security as biometric traits are difficult to steal or forget. These technologies are also being implemented for e-passport and e-visa programs with the aim of keeping a check on illegal migration, and in the banking and finance sectors to increase efficiency and prevent frauds. Furthermore, the introduction of multimodal biometrics, which make use of more than one behavioral or physiological characteristic for authentication, is expected to improve the recognition and security performance of these systems in the coming years. Owing to these factors, the market is projected to exceed US$ 37.2 Billion by 2024, exhibiting a CAGR of around 14% during 2019-2024.

Report Coverage:

Breakup by Technology:
Face Recognition
Hand Geometry
Voice Recognition
Signature recognition
Iris recognition
AFIS
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
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The global biometrics market consists of numerous small and large manufacturers. Some of the leading players operating in the market are 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. and Morpho SA (Safran).

Key Questions Answered in This Report:

How has the global biometrics market performed so far and how will it perform in the coming years?

What are the key regional markets in the global biometrics industry?

What is the breakup of the global biometrics market on the basis of technology?

What is the breakup of the global biometrics market on the basis of functionality?

What is the breakup of the global biometrics market on the basis of component?

What is the breakup of the global biometrics market on the basis of authentication?

What is the breakup of the global biometrics market on the basis of end-user?

What are the various stages in the value chain of the global biometrics market?

What are the key driving factors and challenges in the global biometrics market?

What is the structure of the global biometrics market and who are the key players?

What is the degree of competition in the global biometrics market?