Sat, 28 May 2022

Biometrics Market

Market Overview:

According to the latest report by IMARC Group, titled "Biometrics Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027", 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. 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.

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.

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Market Trends and Drivers:

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.

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Competitive Landscape:

By IMARC group the global biometrics market report has also analyzed the competitive landscape of the market with some of the top biometrics companies being

Some of these key players include:

  • Accu-Time Systems
  • BIO-Key International, Inc.
  • Cognitec Systems, GmbH
  • Fujitsu Limited
  • 3M Cogent, Inc.
  • NEC Corporation
  • Siemens AG
  • RCG Holdings, Ltd.
  • Suprema, Inc.
  • Lumidigm, Inc.
  • IrisGuard, Inc.
  • Daon, Inc.
  • DigitalPersona, Inc.
  • Morpho SA (Safran)

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)

Key highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • COVID-19 Impact on the Market
  • Porter's Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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