IMARC Group’s latest research report, titled “Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global biometrics market size 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. Biometrics refers to processes used to measure distinct biological or physiological characteristics of an individual. Biometrics identifiers are of two types, namely, behavioral, and physiological identifiers. The physiological identifiers include fingerprints, facial recognition, iris recognition, palm prints, and DNA matching, whereas behavioral identifiers include finger movements, typing patterns, voice, and signature recognition, walking gait, and other gestures.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by Technology, Functionality, Authentication, Component, End-User.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Biometrics Market
- Strategies of major players and product offerings
The global market is majorly driven by the rising demand for biometric services across banking, healthcare, and retail sectors. Furthermore, various technological advancements, such as the integration of cloud-based services, are acting as other growth-inducing factors. Moreover, the widespread adoption of the device for surveillance and security applications has provided a boost to market growth across the globe. Additionally, the heightened risks of terrorist attacks have driven the demand for biometric technology. Besides this, biometric devices are widely used by the government as well as private organizations for employee identification, and marking attendance, thus providing an impetus to the market growth.
Key Players Included in Global Biometrics Market Research Report:
- 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.
- Morpho SA (Safran)
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Technology:
- 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:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Biometrics Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Biometrics Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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