Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Biometric System Market Size is Expected to Grow from USD 38.75 Billion in 2023 to USD 119.25 Billion by 2033, at a CAGR of 11.90% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Biometric System Market Size, Share, and COVID-19 Impact Analysis, By Authentication Type (Multi-factor Authentication and Single Factor Authentication), By Contact Type (Contact-based System, Contact Less System, and Hybrid), By End-user (BFSI, Military & Defense, Consumer Electronics, Travel & Transport, Commercial, Smart Home, Government & Public, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
A biometric system refers to a technology that uses a person’s unique physical characteristics to identify or authenticate them. They are usually automated, sometimes using artificial intelligence to perform the recognition process. The commonly used fingerprint sensors and facial recognition technologies in smartphones, laptops, and personal devices are driving the need for biometric systems. The growing adoption of biometrics in consumer electronics is driven by the growing need for security coupled with user convenience. The growing adoption of biometric-as-a-service (BaaS) is providing a lucrative market growth opportunity by scaling cost-effective solutions for organizations of all sizes. The increasing adoption rate of biometrics in consumer electronics as well as the demand for biometric technology for authentication in retail & e-commerce are driving the biometric system market. The rising need for security and surveillance owing to the growing cases of crimes is promoting the market for biometric systems. On the contrary, the increased cost associated with biometric systems is restraining the biometric system market.
The multi-factor authentication segment is anticipated to hold the largest market share during the forecast period.
Based on the authentication type, the global biometric system market is divided into multi-factor authentication and single factor authentication. Among these, the multi-factor authentication segment is anticipated to hold the largest market share during the forecast period. Multi-factor authentication requires multiple methods of authentication from independent categories of credentials to verify a user’s identity for a login or other transactions. The presence of significant suppliers, regulatory environment, innovations & investments, and increased rate of technology adoption are driving the market.
The contact-based system segment is expected to account for the largest market share during the forecast period.
Based on the contact type, the global biometric system market is divided into contact-based system, contactless systems, and hybrid. Among these, the contact-based system segment is expected to account for the largest market share during the forecast period. Contact-based technologies include fingerprint and palm recognition in many industries. The increased usage of fingerprint scanners in BFSI, consumer electronics, commercial, and smart home industries is driving the market in the contact-based segment.
The consumer electronics segment accounted for the largest share of the biometric system market in 2023.
Based on the end-user, the global biometric system market is divided into BFSI, military & defense, consumer electronics, travel & transport, commercial, smart home, government & public, and others. Among these, the consumer electronics segment accounted for the largest share of the biometric system market in 2023. The increased use of biometric systems in consumer electronics owing to the demand for security and user convenience is driving the market. Further, the increased application of fingerprint scanners in consumer electronics is propelling the market.
North America is projected to hold the largest share of the global biometric system market over the forecast period.
North America is projected to hold the largest share of the global biometric system market over the forecast period. The high demand for advanced security systems in the banking, government, and healthcare sectors along with the presence of leading technology industries is driving the market. Further, the investments and production expansion by key market players along with the increased adoption rates and advanced infrastructure are propelling the market.
Asia Pacific is predicted to grow at the fastest CAGR in the biometric system market over the forecast period. The extensive technological development, rapidly growing economy, and government-sponsored programs are significantly contributing to driving the market. The widespread usage of biometric systems such as fingerprint mapping, facial recognition, and retina scan in the Asia Pacific region is driving the market.
Competitive Analysis
Major key players in the biometric system market include Thales, IDEMIA, NEC Corporation, ASSA ABLOY, Fujitsu, Precise Biometrics, Secunet Security Networks AG, Anviz Global Inc., Accu-Time Systems, Inc., AFIX Technologies, BIO-key International, Inc., DERMALOG Identification Systems GmbH, East Shore Technologies, Inc., and Others.
Key Target Audience
Recent Developments
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global biometric system market based on the below-mentioned segments:
Global Biometric System Market, By Authentication Type
Global Biometric System Market, By Contact Type
Global Biometric System Market, By End-user
Global Biometric System Market, Regional Analysis
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