Global Biometric Technologies Market Segments 2024, Forecast To 2033
5 Mar, 2024
The biometric technologies market has experienced rapid growth, surging from $52.65 billion in 2023 to $59.76 billion in 2024, achieving a CAGR of 13.5%. Contributing factors include increasing cybersecurity threats, rising concerns about security, adoption in healthcare for patient identification, use in time and attendance systems, and use in border control and immigration. Anticipating continued rapid growth, the market is projected to reach $100.26 billion in 2028, maintaining a CAGR of 13.8%. Growth drivers include the emergence of wearable biometric devices, integration with smart cities initiatives, focus on user convenience, growth in remote authentication, and use in aviation and travel security. Major trends include integration with artificial intelligence (AI), expansion in mobile biometrics, multi-modal biometrics adoption, remote authentication solutions, and blockchain integration for enhanced security.
Global Biometric Technologies Market Key Driver
The biometric technology market is set to expand with the growing adoption of biometric technologies in consumer electronics. In 2021, around 81% of phones integrated biometric capabilities, emphasizing the increasing incorporation of biometric technology for safety and enhanced features in consumer electronics.
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The biometric technologies market covered in this report is segmented –
1) By Offering: Hardware, Software
2) By Type: Contact-Based, Contact-Less, Hybrid
3) By Authentication Type: Single-Factor Authentication, Multi-Factor Authentication
4) By Application: Face, Hand Geometry, Voice, Signature, Iris, Automated Fingerprint Identification System (AFIS), Non-Automated Fingerprint Identification System (AFIS), Other Applications
5) By Vertical: Government, Consumer Electronics, Military And Defense, Healthcare, Banking And Finance, Travel And Immigration, Automotive, Security, Other Verticals
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the biometric technologies market share in 2023. The regions covered in the biometric technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Biometric Technologies Industry Players
Fujitsu Frontech Limited; Imageware Systems Inc.; Suprema HQ Inc.; IDEMIA Group; Secunet Security Networks AG; Thales S.A.; BIO-key International; Nippon Electric Company Limited Corporation; Precise Biometrics; Aware Inc.; Cognitec Systems GmbH; Daon Inc.; M2SYS Technology; 3M Company; DERMALOG Identification Systems GmbH; Assa Abloy AB; Fulcrum Biometrics LLC; Facebanx Ltd.; Integrated Biometrics LLC; Accu-Time Systems; East Shore Technology; EveVerify; Suprema Inc.; Hitachi; FaceFirst; Nuance Communications; BI2 Technologies; Biometix Pty Ltd; Fingerprint Cards; BTBL Co. Ltd
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AIOps Biometric Technologies Market Overview
Biometric technology is an automated or computerized process that is essential for the security and identification of a person based on some aspect of their biology. It offers enhanced recognition or authentication methods in comparison to conventional techniques like passwords and pin codes. It helps keep information safe from any fraudulent activity and offers secure and long-lasting security benefits to the person or organization.
Biometric Technologies Global Market Report 2023 provides data on the global biometric technologies market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biometric technologies market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.