The global biometrics market size reached a value of US$ 27.97 Billion in 2021. As per the analysis by the IMARC Group, the biometric systems are evolving rapidly due to increasing security breaches and transaction frauds across the globe. This has prompted manufacturers to transition from single-sample verification matchers, such as face, fingerprint, iris, and voice, to a wide range of multi-modal, fully automated recognition systems. One such trend is the use of vein and gait authentication, which takes into consideration the person’s way of speaking and the unique pattern formed by their blood vessels. Additionally, the large-scale integration of biometrics with mobile devices has also facilitated the emergence of mobile banking and payments that are now considered safer and faster due to its portability and on-cloud data storage capabilities. This, in turn, has prompted companies to deploy multi-factor authentication (MFA) systems and apply the blockchain based approach that distributes biometric data and facilitates the process of recording transactions, thereby supporting digital payments. Other than this, companies are adopting the biometric single sign on (SSO), which is an authentication scheme that allows a user to log in with a single ID and password to any of several related, yet independent, software systems. This, in turn, enables them to secure their networks from data breaches and maximize password management costs. Besides this, manufacturers are engineering industry-specialized biometric solutions to meet the unique security demand of respective industries, which is providing lucrative growth opportunities to the market players. Furthermore, leading companies are considerably investing in research and development (R&D) activities to advance technologies, such as third-dimensional (3D) image, sensor, feature extraction, pattern matching, and distinct area detection (DAD) algorithms, that are more user-friendly and compatible with existing infrastructures. This, in turn, is catalyzing the market growth. Looking forward, the market is expected to grow at a CAGR of around 17.5% during 2022-2027.
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Top Biometrics Companies and Manufacturers in the World:
Fujitsu Ltd. is a Japan-based multinational information and communications technology equipment and services corporation. Along with its subsidiaries, it offers a diverse range of products in the areas of data storage, telecommunications, and advanced microelectronics. The company also provides comprehensive information technology development, network and telecommunication solutions, system platforms adjustment, and other services. Some of its common products include semiconductors, computers, and communication equipment.
Headquarter: Tokyo, Japan
NEC is a multinational information technology and electronics corporation. It provides IT and network solutions, such as cloud computing, artificial intelligence (AI), the internet of things (IoT) platform, and telecommunications equipment and software. NEC primarily operates six business segments, namely public, enterprise, network services, system platform, global, and others. The company’s broad product range caters to business enterprises, communication service providers, and government agencies. NEC Corporation of America, Netcracker Technology, NEC Display Solutions of America, NEC Europe, KMD, and Avaloq are some of its subsidiaries.
Headquarter: South Korea
Suprema is one of the leading global providers of access control, time and attendance, and biometric solutions. The company has introduced innovations to the security industry by combining advanced biometric algorithms with superior engineering. Suprema’s extensive range of portfolio includes fingerprint live scanners, inter protocol (IP)-based distributed access control system, mobile authentication solutions, and embedded fingerprint modules.
3M Cogent, Inc.
Headquarter: United States
3M Cogent, a subsidiary of 3M Company, develops automated fingerprint identification systems and other biometric solutions. Its products include mobile identification, control readers, fingerprint readers, iris scanners, biometric systems, smart-card identity applications, palmprint card conversion systems, and ID management and credentialing solutions. These products are primarily used by governments, commercial enterprises, and law enforcement agencies for brand protection, secure payment, product security, passenger check-in, biometric access control, and border management purposes.
Morpho SA (Safran)
Morpho, now called Safran, is one of the global providers of identity and security solutions, such as identity-related security services, facial recognition, and biometric identification products. It also sells engines, landing and braking systems, onboard electrical systems, launcher propulsion, biometric equipment, and trace analysis systems to the aerospace and defense industries. The company also serves law enforcement agencies for managing identities, protecting borders, detecting threats, and ensuring safety. In 2016, Safran merged with Oberthur Technologies (OT) to form IDEMIA brand, which is focused on supporting digitization through their augmented identity solutions. Apart from this, Safran has launched Mastercard next generation biometric card that combines chip technology and biometrics to form a convenient means of authentication at the Point of Sale (POS). This, in turn, has enabled consumers to link one’s individual biometric identity to a payment card, thereby ensuring reduced fraudulent activities.
Headquarter: United Kingdom
IrisGuard, Inc. is a privately held, electronic payment solutions company that supplies end-to-end iris recognition biometric identification technology for large-scale deployments. EyePay, EyeBank, EyeCloud, and EyeCash technologies are some of the company’s innovative and secure financial delivery platforms that replaces traditional recognition systems with an eye blink to authorize access. These solutions are primarily used in banking, humanitarian relief, and homeland security markets. It is also a recognized and established solutions provider for several United Nations Agencies, such as the World Food Program (WFP), High Commission for Refugees (UNHCR), and other government and non-governmental organizations (NGOs).
Headquarter: United States
Daon, Inc. is an information technology (IT) company that provides biometrics and identity assurance software, including iris, voice information, finger scanner, and face recognition. The company also offers various professional services, such as deployment, integration, support, training, business needs analysis, and research and development. In addition to this, its IdentityX platform delivers multi-factor authentication, identity establishment and verification, and web recovery services. These products and solutions are primarily utilized by businesses and government agencies to manage employee credentialing, digital banking, border control, document identification, and physical access control tasks.
Cognitec System, GmbH
Cognitec System, GmbH develops face-recognition technologies and applications for businesses and government agencies worldwide. Its diverse product portfolio serves the facial image database search, ISO-complaint photo capturing, real-time video screening, border control, and facial image quality assessment purposes. The company employs open-system architecture and unparalleled technical support to offer innovative, easy-to-use, and customizable software products to clients, which ensures easy product incorporation with their internal systems. FaceVACS-VideoScan is one of Cognitec’s most famous product that is deployed across airports, retail, touristic locations, and other infrastructure facilities to perform real-time identity checks and facial analysis.
Headquarter: South Korea
IDTECK is a professional security company that offers total security and on-demand solutions. Some of its products include access control systems, video surveillance system, long range radio frequency identification (RFID) applications, fire detection software, and building automation system (BAS) and building management system (BMS). IDTECK is networked through 70 countries due to a well-established distribution channel and online platforms.
Accu-Time Systems, Inc.
Headquarter: United States
Accu-Time Systems, Inc., a subsidiary of Amano USA Holdings, Inc., is one of the leading providers of biometric and non-biometric workforce management tools. It offers time collection software, hardware, and comprehensive cloud-based integration solutions to payroll software providers and human capital management. Accu-Time also delivers state-of-the-art solutions, such as the PeoplePoint terminals for employee self-service, workforce management, and time and attendance. These solutions help clients to automate and simplify the entire data collection and management processes, thereby maximizing business efficiency.
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