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The global biometrics market reached a value of US$ 27.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 74.42 Billion by 2027, exhibiting at a CAGR of 17.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Biometrics refers to processes used to authenticate, recognize and identify 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 fingerprints, palm veins, palm prints, face, DNA, iris, retina and hand geometry, whereas behavioral characteristics comprise typing patterns and voice and signature recognition.
Global Biometrics Market Drivers:
Biometrics systems are gaining immense popularity across the globe as they are easy to use and implement, as well as provide a cost-effective solution for ensuring high-end security and assurance. Apart from this, biometrics technologies are extensively used in both governmental and private organizations, and institutional setups for door access, employee identification and marking attendance. They are also installed in high-security areas to safeguard the facility and reduce the risk of intrusion by identifying unknown people through automated biometrics recognition. Furthermore, many companies are entering into partnerships to expand their operations across the globe. For instance, Microsoft has recently tested and qualified BIO-Key’s three new compact USB fingerprint reader accessories, SideSwipe, SideTouch, and EcoID, to support the latest biometric authentication sign-in option in Windows 10. Besides this, the introduction of multimodal biometrics that uses more than one behavioral or physiological characteristic for authentication is expected to offer improved recognition and security performance. Moreover, the coronavirus disease (COVID-19) outbreak has led a shift toward contactless biometrics systems that analyze face, gait and voice recognition for identity authentication.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biometrics market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on technology, functionality, authentication, component and end-user.
Breakup by Technology:
Breakup by Functionality:
Breakup by Authentication:
Breakup by Component:
Breakup by End-User:
Breakup by Region:
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).
|Base Year of the Analysis||2021|
|Segment Coverage||Technology, Functionality, Authentication, Component, End-User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||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)|
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The global biometrics market was valued at US$ 27.97 Billion in 2021.
We expect the global biometrics market to exhibit a CAGR of 17.5% during 2022-2027.
The advent of multimodal biometrics, which uses more than one physiological or behavioral characteristic for authentication to provide improved recognition and security performance, is primarily catalyzing the global biometrics market.
Sudden outbreak of the COVID-19 pandemic has led to a changing consumer inclination from touch-based biometrics towards contactless biometrics systems, based on facial recognition, sensors, voice stimulation, etc., for mitigating the risks of coronavirus infection.
Based on the technology, the global biometrics market can be segmented into face recognition, hand geometry, voice recognition, signature recognition, iris recognition, AFIS, non-AFIS, and others. Among these, non-AFIS currently holds the majority of the total market share.
Based on the functionality, the global biometrics market has been divided into contact, non-contact, and combined, where contact-based functionality exhibits a clear dominance in the market.
Based on the authentication, the global biometrics market can be categorized into single-factor authentication and multifactor authentication. Currently, single-factor authentication accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global biometrics market include 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).
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