Biometrics Market : A View of the Industry’s Advancements and Opportunities

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The global biometrics market size reached USD 43.54 Billion in 2021 and is expected to register a revenue CAGR of 14.8% during the forecast period, according to latest analysis by Emergen Research. Increasing need for more convenient and fast authentication mode and increasing need for easy-to-operate and user-friendly security systems are some key factors projected to support market revenue growth between 2022 and 2030. In addition, increasing need for high level of security in banking and finance and defense sectors is expected to continue to drive revenue growth of market going ahead. Biometrics provides increased levels of security to providers whether a person is real by verifying identity using several methods such as face recognition, voice recognition, signature recognition, iris recognition, fingerprint recognition, and hand geometry recognition, among others. Biometric authentication road-blocks for fraudsters, allowing only authorized user access.

The distinct, quantifiable traits that are used to identify and categories people are called biometric identifiers. Physiological traits connected to a person’s physical attributes, such as body form, are frequently characterized as biometric identifiers. Examples include, but are not limited to, fingerprints, palm veins, face identification, DNA, hand geometry, iris recognition, retina, odor/scent, voice, ear shape, and stride. Behavioral traits, such as mouse movement, typing rhythm, stride, signature, behavioral profile, and credentials, are connected to a person’s pattern of behavior.

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Biometrics Market Report 2022 is one of a series of new reports from The Emergen Research Company that provides plant factory industry overview, Biometrics market analysis and forecasts market size and growth for the global plant factory market, Biometrics market segments and geographies, Biometrics market players, Biometrics market leading competitor revenues, profiles and market shares. The plant factory market research report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

 Biometrics Market: Analysis by focusing on Competitive landscape and Key Developments

Fujitsu Limited, NEC Corporation, Thales SA, Assa Abloy AB, IDEMIA Identity and Security France SAS, M2SYS, Inc., DERMALOG Identification Systems GmbH, Aware, Inc., SecuGen Corporation, and BIO-Key International, Inc.

 key findings from the report suggest

  • Multi-factor authentication segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing need to reduce risks associated with key logger activity
  • Hardware segment is expected to register a significantly robust revenue growth rate over the forecast period, owing to increasing need to operate security systems in various organizations
  • Asia Pacific market is expected to account for larger revenue share due to robust presence of major market players providing biometrics solutions such as Fujitsu Limited and NEC Corporation, among others, in countries in the region

The report further divides the Biometrics market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Biometrics market.

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Emergen Research has segmented global biometrics market on the basis of authentication type, component, functionality, technology, application, end-use, and region:

  • Authentication Type Outlook (Revenue, USD Billion; 2019–2030)
    • Single-Factor Authentication
    • Multi-Factor Authentication
  • Component Outlook (Revenue, USD Billion; 2019–2030)
    • Hardware
    • Software
  • Functionality Outlook (Revenue, USD Billion; 2019–2030)
    • Contact Based
    • Non-Contact Based
    • Combined
  • Technology Outlook (Revenue, USD Billion; 2019–2030)
    • Face Recognition
    • Voice Recognition
    • Signature Recognition
    • IRIS Recognition
    • Fingerprint Recognition
    • Hand Geometry Recognition
    • Others
  • Application Outlook (Revenue, USD Billion; 2019–2030)
    • Site Access Control
    • Time Recording
    • Mobile Application
    • Workplace
    • Others
  • End-use Outlook (Revenue, USD Billion; 2019–2030)
    • Banking, Financial Services, and Insurance (BFSI)
    • Government and Defense Services
    • Consumer Electronics
    • Healthcare
    • Commercial Safety and Security
    • Transport/Logistics
    • Retail and E-commerce
    • IT and Telecommunication
    • Others

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