The global biometrics market was worth US$ 19.84 Billion in 2019. 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. Looking forward, IMARC Group expects the market to exhibit strong growth during 2020-2025.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biometrics market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, type, service, organization size, and verticle.
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).
Key Questions Answered in This Report
The global biometrics market was worth US$ 19.84 Billion in 2019.
The market is primarily driven by the affordability and easy usage of biometrics technologies, along with the emerging partnerships to expand operations and the introduction of multimodal biometrics that uses more than one behavioral or physiological characteristic for authentication.
The leading biometrics manufacturers are Accu-Time Systems, Inc., BIO-Key International, Inc., Cognitec Systems GmbH, Fujitsu Limited, 3M Cogent, Inc., IDTECK Co. Ltd., NEC Corporation, Siemens AG, RCG Holdings Limited, Suprema, Inc., Lumidigm, Inc., IrisGuard, Inc., Daon, Inc., DigitalPersona, Inc. and Morpho SA (Safran).
At present, Non-AFIS represents the most widely used biometrics technology across the globe.
The biometrics market is anticipated to exhibit strong growth during 2020-2025.
On the basis of the functionality, contact represents the largest segment, dominating the market.
Based on the component, the market has been bifurcated into hardware and software.
Single-factor authentication currently accounts for the majority of the total market share.
Region-wise, North America holds the leading position in the market.
The coronavirus disease (COVID-19) outbreak is projected to lead a significant shift toward contactless biometrics solutions, such as iris, facial and voice recognition, for identity authentication, as well as replacing conventional security measures.
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