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Press Release:

Global Biometrics Market to Reach US$ 74.42 Billion by 2027, Impelled by Rising Security Applications

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Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

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.

 

 
 

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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.

Key Market Segmentation:

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:

 

 
 

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  • Face Recognition
  • Hand Geometry
  • Voice Recognition
  • Signature recognition
  • Iris recognition
  • AFIS
  • Non-AFIS
  • Others


Breakup by Functionality:

  • Contact
  • Non-contact
  • Combined


Breakup by Authentication:

  • Single-Factor Authentication
  • Multifactor Authentication


Breakup by Component:

  • Hardware
  • Software


Breakup by End-User:

  • Government
  • Defense Services
  • Banking and Finance
  • Consumer Electronics
  • Healthcare
  • Commercial Safety and Security
  • Transport/Visa/Logistics
  • Others


Breakup by Region:

 

 
 

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  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America


Competitive Landscape:

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).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
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)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.3    Key Industry Trends
5    Global Biometrics Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Technology 
    5.5    Market Breakup by Functionality
    5.6    Market Breakup by Component
    5.7    Market Breakup by Authentication
    5.8    Market Breakup by End-User
    5.9    Market Breakup by Region 
    5.10    Market Forecast 
6    Market Breakup by Technology 
    6.1    Face Recognition 
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Hand Geometry 
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Voice Recognition 
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    Signature Recognition 
        6.4.1    Market Trends
        6.4.2    Market Forecast
    6.5    Iris Recognition 
        6.5.1    Market Trends
        6.5.2    Market Forecast
    6.6    AFIS 
        6.6.1    Market Trends
        6.6.2    Market Forecast
    6.7    Non-AFIS 
        6.7.1    Market Trends
        6.7.2    Market Forecast
    6.8    Others 
        6.8.1    Market Trends
        6.8.2    Market Forecast
7    Market Breakup by Functionality
    7.1    Contact 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Non-contact 
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Combined  
        7.3.1    Market Trends
        7.3.2    Market Forecast
8    Market Breakup by Component 
    8.1    Hardware  
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Software 
        8.2.1    Market Trends
        8.2.2    Market Forecast
9    Market Breakup by Authentication 
    9.1    Single-Factor Authentication 
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Multifactor Authentication 
        9.2.1    Market Trends
        9.2.2    Market Forecast
10    Market Breakup by End-User 
    10.1    Government 
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Defense Services  
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Banking and Finance  
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Consumer Electronics  
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Healthcare  
        10.5.1    Market Trends
        10.5.2    Market Forecast
    10.6    Commercial Safety and Security  
        10.6.1    Market Trends
        10.6.2    Market Forecast
    10.7    Transport/Visa/Logistics  
        10.7.1    Market Trends
        10.7.2    Market Forecast
    10.8    Others  
        10.8.1    Market Trends
        10.8.2    Market Forecast
11    Market Breakup by Region 
    11.1    North America 
        11.1.1    Market Trends
        11.1.2    Market Forecast
    11.2    Europe 
        11.2.1    Market Trends
        11.2.2    Market Forecast
    11.3    Asia Pacific 
        11.3.1    Market Trends
        11.3.2    Market Forecast
    11.4    Middle East and Africa
        11.4.1    Market Trends
        11.4.2    Market Forecast
    11.5    Latin America
        11.5.1    Market Trends
        11.5.2    Market Forecast
12    SWOT Analysis 
    12.1    Overview 
    12.2    Strengths
    12.3    Weaknesses 
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis 
14    Porters Five Forces Analysis 
    14.1     Overview 
    14.2     Bargaining Power of Buyers
    14.3     Bargaining Power of Suppliers 
    14.4     Degree of Competition
    14.5     Threat of New Entrants
    14.6     Threat of Substitutes
15    Price Analysis 
16    Competitive Landscape
    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Accu-Time Systems, Inc.    
        16.3.2    BIO-Key International, Inc. 
        16.3.3    Cognitec Systems, GmbH 
        16.3.4    Fujitsu Limited 
        16.3.5    3M Cogent, Inc. 
        16.3.6    IDTECK, 
        16.3.7    NEC Corporation 
        16.3.8    Siemens AG 
        16.3.9    RCG Holdings, Ltd. 
        16.3.10      Suprema, Inc. 
        16.3.11      Lumidigm, Inc. 
        16.3.12      IrisGuard, Inc. 
        16.3.13      Daon, Inc.  
        16.3.14      DigitalPersona, Inc. 
        16.3.15      Morpho SA (Safran) 

List of Figures

Figure 1: Global: Biometrics Market: Major Drivers and Challenges
Figure 2: Global: Biometrics Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Biometrics Market: Breakup by Technology (in %), 2021
Figure 4: Global: Biometrics Market: Breakup by Functionality (in %), 2021
Figure 5: Global: Biometrics Market: Breakup by Authentication (in %), 2021
Figure 6: Global: Biometrics Market: Breakup by Component (in %), 2021
Figure 7: Global: Biometrics Market: Breakup by End-User (in %), 2021
Figure 8: Global: Biometrics Market: Breakup by Region (in %), 2021
Figure 9: Global: Biometrics Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Biometrics Industry: SWOT Analysis
Figure 11: Global: Biometrics Industry: Value Chain Analysis
Figure 12: Global: Biometrics Industry: Porter’s Five Forces Analysis
Figure 13: Global: Biometrics (Face Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Biometrics (Face Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Biometrics (Hand Geometry) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Biometrics (Hand Geometry) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Biometrics (Voice Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Biometrics (Voice Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Biometrics (Signature Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Biometrics (Signature Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Biometrics (Iris Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Biometrics (Iris Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Biometrics (AFIS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Biometrics (AFIS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Biometrics (Non-AFIS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Biometrics (Non-AFIS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Biometrics (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Biometrics (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Biometrics (Contact) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Biometrics (Contact) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Biometrics (Non-contact) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Biometrics (Non-contact) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Biometrics (Combined) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Biometrics (Combined) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Biometrics (Single-Factor Authentication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Biometrics (Single-Factor Authentication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Biometrics (Multifactor Authentication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Biometrics (Multifactor Authentication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Biometrics (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Biometrics (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Global: Biometrics (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Global: Biometrics (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Global: Biometrics (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Global: Biometrics (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Global: Biometrics (Defense Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Global: Biometrics (Defense Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Global: Biometrics (Banking and Finance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Global: Biometrics (Banking and Finance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Global: Biometrics (Consumer Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Global: Biometrics (Consumer Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Global: Biometrics (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Global: Biometrics (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Global: Biometrics (Commercial Safety and Security) Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Global: Biometrics (Commercial Safety and Security) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Global: Biometrics (Transport/Visa/Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Global: Biometrics (Transport/Visa/Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Global: Biometrics (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Global: Biometrics (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: North America: Biometrics Market: Sales Value (In Million US$), 2016 & 2021
Figure 60: North America: Biometrics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Europe: Biometrics Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Europe: Biometrics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Asia Pacific: Biometrics Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Asia Pacific: Biometrics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Middle East and Africa: Biometrics Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Middle East and Africa: Biometrics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Latin America: Biometrics Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Latin America: Biometrics Market Forecast: Sales Value (in Million US$), 2022-2027
 
List of Tables

Table 1: Global: Biometrics Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Biometrics Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 3: Global: Biometrics Market Forecast: Breakup by Functionality (in Million US$), 2022-2027
Table 4: Global: Biometrics Market Forecast: Breakup by Authentication (in Million US$), 2022-2027
Table 5: Global: Biometrics Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 6: Global: Biometrics Market Forecast: Breakup by End-User (in Million US$), 2022-2027
Table 7: Global: Biometrics Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Biometrics Market Structure
Table 9: Global: Biometrics Market: Key Players


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Key Questions Answered in This Report

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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