What Has Been the Progress and Growth of the Human Microchipping Market in Recent Years?
The human microchipping market has seen considerable growth due to a variety of factors.
• The market for human microchipping has been experiencing robust growth in recent times. A surge from $1.85 billion in 2024 up to $1.99 billion in 2025 is expected, reflecting a compound annual growth rate (CAGR) of 7.8%.
This growth during the historic period can be attributed to advancements in semiconductor technology and miniaturization, increasing worries about identity theft, data breaches, and unauthorized access, a heightened demand for medical implants and devices, and the exploration of microchipping by companies as a mode of identification and access control for employees, in addition to regulatory approval.
What Is The Expected Growth In The Human Microchipping Market Size Evolve over the Forecast Period?
The human microchipping market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for human microchipping is anticipated to experience robust growth, ramping up to $2.64 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%.
The expansion during the projection period is largely due to factors such as the increased connection with emerging technologies, more microchips being integrated with healthcare systems, surging demand for smooth and easy payment modes, rising acceptance of microchipping technology, and the advancement of intelligent city infrastructure. During the prediction period, key trends will include heightened biometric verification, microchips incorporated in wearable devices and medical implants, the convergence with augmented reality, environmental sustainability, and customized healthcare.
What Main Forces Are Fueling Expansion In The Human Microchipping Market?
The increasing need for contactless transactions is anticipated to boost the expansion of the human microchipping market. Contactless transactions provide a secure method for purchases, avoiding direct contact between the seller's point-of-sale (POS) terminal and the buyer's card. The COVID-19 pandemic remarkably spurred the uptake of contactless payment methods due to escalating worries about sanitation and germ dissemination. Human microchipping that utilizes near-field communication (NFC) or radio-frequency identification (RFID) technology is applied in contactless or digital payments. These microchips, when inserted into a person's hand or any other body part, enable contactless payments. For example, a report from Finder.com, an Australia-based independent comparison website, in July 2023 asserted that an estimated 93% of Brits engaged in online banking in 2022 and an additional 5.3 million Brits, which is 10%, plan to open a digital-only bank account in 2023. The report also predicts that by 2026 there will be 22.6 million individuals (43%) who hold digital-only bank accounts. Hence, the escalating demand for contactless transactions is fuelling the growth of the human microchipping market.
What Are The Primary Segments In The Global Human Microchipping Market?
The human microchipping market covered in this report is segmented –
1) By Type: Implantable Microchips, Non-Implantable Microchips
2) By Technology: RFID (Radio Frequency Identification), NFC (Near Field Communication), Other Technologies
3) By Application: Medical Identification And Monitoring, Personal Identification And Access Control, Financial Transactions, Other Applications
4) By End User: Healthcare, Financial Services, Retail And logistics, Government And Law Enforcement, Other End-Users
Subsegments:
1) By Implantable Microchips: RFID Microchips, NFC Microchips, Biometric Microchips
2) By Non-Implantable Microchips: Wearable Microchips, Portable Microchips, External RFID Tags
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How Are New Trends Impacting The Size Of The Human Microchipping Market?
Prominent players in the human microchipping industry are advancing new technologies, such as neuron spike detection, to boost the capacities of brain-computer interfaces (BCIs), enable smooth interaction between humans and machines, and amplify the effectiveness of neuroprosthetic devices for people with movement impairments. Neuron spike detection plays a pivotal role in detecting and gauging the electronic impulses created by neurons, promoting a comprehensive understanding of brain activity and BCIs. For example, Neuralink Corporation, a US-based tech firm known for their expertise in brain-computer interface technology, launched a human brain-computer interface named Telepathy in January 2024. This wireless apparatus comprises a chip and more than 1,000 ultra-thin, bendable electrode arrays that are surgically inserted into the cerebral cortex. Telepathy is developed to detect the neuronal electrical activities associated with motion and convert these neural signals into directives for computer control, enabling thought-driven communication at unparalleled speed. Its main attributes encompass neuron spike detection, wireless capabilities, a flexible electrode design for minimal invasiveness, and precise robotic implantation, all of which aimed to improve communication for individuals with significant disabilities.
Who Are the Key Players In The Human Microchipping Market?
Major companies operating in the human microchipping market are:
• Johnson Controls International PLC
• Texas Instruments Inc.
• STMicroelectronics N.V.
• NXP Semiconductors
• Xerox Corporation
• ARM Holdings Plc
• Neuralink Corporation
• Kaspersky Lab
• Cherry Biotech SAS
• VivoKey Technologies
• Avid Identification Systems Inc.
• EpiCenter
• Micronit Microtechnologies B.V.
• Applied Digital Solutions
• Grindhouse Wetware
• Dangerous Things LLC
• Digiwell
• Baja Beach Club
• BioTeq Ltd.
• Somark Innovations
• Walletmor Ltd.
• Chip AG
• Biohax International AB
• VeriChip Corporation
What Is The Most Dominant Region In The Human Microchipping Market?
North America was the largest region in the human microchipping market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human microchipping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
