Market Overview:
The global biometrics technology market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The increasing demand for security and safety measures, rising adoption of biometric technology in various applications, and growing awareness about the benefits of biometric technology are some of the major factors driving the growth of this market. The global biometrics technology market is segmented on the basis of type into face recognition, fingerprint recognition, iris recognition, palm print/hand recognition, and hand geometry recognition. The face recognition segment is expected to account for the largest share in terms of revenue in 2018 owing to its high adoption rate across various industries such as security, military & defense, healthcare system, banking & finance etc. However; over the forecast period (2018-2030), fingerprint recognition is projected to witness highest CAGR due its increasing demand from government sector for identity verification purposes. On basis application Global Biometrics Technology Market can be classified as Security ,Military& Defense Healthcare System Banking&Finance others . Among these segments ,Security application held dominant position in 2017 and it will continue same trend during forecast period . This growth can be attributed rising incidences crime rates around globe coupled with stringent government regulations related safety measures .
Product Definition:
biometrics technology: the use of biological characteristics, such as fingerprints, retina scans,.
Face Recognition:
Face recognition is a biometric technology that analyzes the image of an individual for authentication purposes. It is used to verify the identity of a person by comparing their appearance with that in a database. The technology has applications in security, surveillance, and identification markets. It can be used for both positive and negative identification such as verification of an individual's identity or attendance purposes at public events.
Fingerprint Recognition:
The technology is used for identifying individuals based on their unique biometric features. It is a recognition procedure, which involves the analysis of the fingerprint patterns of an individual and provides access to authorized personnel only. The technology helps in providing security by allowing access to authenticated users for performing a transaction.
Advantages offered by it over other conventional methods such as password or pin are that it's faster.
Application Insights:
The application segment is segregated into five parts, which include security, military & defense, healthcare system, banking and finance and others. The security segment dominated the market in 2017 owing to increasing use of biometric technologies for authentication purposes across various industries including financial services. For instance, facial recognition technology is widely used by banks for authentication purposes as it helps in reducing the risk of frauds while ATM transactions are conducted.
Fingerprint recognition technology is also being increasingly used by various organizations such as airports for background check on employees and contractors who need to access highly secure areas of a building or airport complex. Iris identification has been gaining popularity due to its effectiveness in identifying criminals among arrestees as well as detainees at Guantanamo Bay detention camp facility with 97% accuracy rate using automated iris-based systems compared to 56% accuracy rate when fingerprints are scanned manually.
Regional Analysis:
The Asia Pacific region is expected to emerge as a predominant region over the forecast period. The growth can be attributed to increasing government initiatives and investments in the security infrastructure of countries such as China, India, and Japan. For instance, in 2015, China launched its national biometric ID system called “Social Security Number†(SSN) which includes fingerprinting along with face recognition for identification purposes.
Some of the prominent players operating in this industry are: Fujitsu Ltd., Samsung Electronics Co., Ltd., Infineon Technologies AG; whereas some other important participants include Acme United Corporation (acquired by AT&T), AuthenTec Inc.; Gemalto NV; and BioConnect Corporation.
Growth Factors:
- Increasing demand for security and safety measures in various industries
- Proliferation of digital devices and subsequent increase in biometric data
- Growing need for authentication and identification procedures
- Rising awareness about the benefits of biometric technology
- Technological advancements that make biometric systems more accurate and efficient
Scope Of The Report
Report Attributes
Report Details
Report Title
Biometrics Technology Market Research Report
By Type
Face Recognition, Fingerprint Recognition, Iris Recognition, Palm Print/Hand Recognition, Hand Geometry Recognition
By Application
Security, Military & Defense, Healthcare System, Banking & Finance
By Companies
Safran SA, NEC Corporation, M Cogent Inc., Fujitsu Ltd., Suprema Inc., Cross Match Technologies, Fulcrum Biometrics, Thales SA, Bio-Key International Inc., Precise Biometrics AB, Secunet Security Networks AF
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Biometrics Technology Market Report Segments:
The global Biometrics Technology market is segmented on the basis of:
Types
Face Recognition, Fingerprint Recognition, Iris Recognition, Palm Print/Hand Recognition, Hand Geometry Recognition
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Security, Military & Defense, Healthcare System, Banking & Finance
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Safran SA
- NEC Corporation
- M Cogent Inc.
- Fujitsu Ltd.
- Suprema Inc.
- Cross Match Technologies
- Fulcrum Biometrics
- Thales SA
- Bio-Key International Inc.
- Precise Biometrics AB
- Secunet Security Networks AF
Highlights of The Biometrics Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Face Recognition
- Fingerprint Recognition
- Iris Recognition
- Palm Print/Hand Recognition
- Hand Geometry Recognition
- By Application:
- Security
- Military & Defense
- Healthcare System
- Banking & Finance
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Biometrics Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Biometrics technology is a process or set of technologies used to uniquely identify individuals. It can be used for authentication, identification, and tracking purposes.
Some of the key players operating in the biometrics technology market are Safran SA, NEC Corporation, M Cogent Inc., Fujitsu Ltd., Suprema Inc., Cross Match Technologies, Fulcrum Biometrics, Thales SA, Bio-Key International Inc., Precise Biometrics AB, Secunet Security Networks AF.
The biometrics technology market is expected to register a CAGR of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Biometrics Technology Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Biometrics Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Biometrics Technology Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Biometrics Technology Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Biometrics Technology Market Size & Forecast, 2020-2028
4.5.1 Biometrics Technology Market Size and Y-o-Y Growth
4.5.2 Biometrics Technology Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Face Recognition
5.2.2 Fingerprint Recognition
5.2.3 Iris Recognition
5.2.4 Palm Print/Hand Recognition
5.2.5 Hand Geometry Recognition
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Security
6.2.2 Military & Defense
6.2.3 Healthcare System
6.2.4 Banking & Finance
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Biometrics Technology Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Biometrics Technology Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Face Recognition
9.6.2 Fingerprint Recognition
9.6.3 Iris Recognition
9.6.4 Palm Print/Hand Recognition
9.6.5 Hand Geometry Recognition
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Security
9.10.2 Military & Defense
9.10.3 Healthcare System
9.10.4 Banking & Finance
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Face Recognition
10.6.2 Fingerprint Recognition
10.6.3 Iris Recognition
10.6.4 Palm Print/Hand Recognition
10.6.5 Hand Geometry Recognition
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Security
10.10.2 Military & Defense
10.10.3 Healthcare System
10.10.4 Banking & Finance
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Face Recognition
11.6.2 Fingerprint Recognition
11.6.3 Iris Recognition
11.6.4 Palm Print/Hand Recognition
11.6.5 Hand Geometry Recognition
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Security
11.10.2 Military & Defense
11.10.3 Healthcare System
11.10.4 Banking & Finance
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Face Recognition
12.6.2 Fingerprint Recognition
12.6.3 Iris Recognition
12.6.4 Palm Print/Hand Recognition
12.6.5 Hand Geometry Recognition
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Security
12.10.2 Military & Defense
12.10.3 Healthcare System
12.10.4 Banking & Finance
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Face Recognition
13.6.2 Fingerprint Recognition
13.6.3 Iris Recognition
13.6.4 Palm Print/Hand Recognition
13.6.5 Hand Geometry Recognition
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Security
13.10.2 Military & Defense
13.10.3 Healthcare System
13.10.4 Banking & Finance
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Biometrics Technology Market: Competitive Dashboard
14.2 Global Biometrics Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Safran SA
14.3.2 NEC Corporation
14.3.3 M Cogent Inc.
14.3.4 Fujitsu Ltd.
14.3.5 Suprema Inc.
14.3.6 Cross Match Technologies
14.3.7 Fulcrum Biometrics
14.3.8 Thales SA
14.3.9 Bio-Key International Inc.
14.3.10 Precise Biometrics AB
14.3.11 Secunet Security Networks AF
