The GMI Research foresees that the Biometric Market will expand at a higher rate over the forecast period. This is because of the mounting endorsement of cloud-based services incorporated with artificial intelligence and the accelerating penetration of fingerprint solutions.
Introduction of the Biometric Market
Biometrics means the usage of a person’s behavioural and physical features as a means of validating their identity. These characteristics of each individual are different, and the system has enormous advancements to enhance its performance in the field of scrutiny and surveillance. The behavioural characteristics involve keystroke & signature, the person’s voice, while the physical features include the face, fingerprint, hand, iris, and DNA.
Key Players of Market:
- NEC Corporation
- Thales Group
- Fujitsu Ltd.
- Iris ID
- Suprema Inc.
- Idemia
- Crossmatch Technologies
- IDEX Biometrics
- Ultinous
- Synaptics
- ASSA ABLOY AB
- Aware Inc.
Biometric Market Dynamics
The accelerating number of identity proof issues rare for every individual and aggravating need for technologically sophisticated safety and assurance are energizing the demand for the global biometric market. In addition, the aggravating drift towards ePassport and eVisa is predicted to offer enormous opportunities for the market. Also, these devices are extensively used across particular and national security, law implementation, healthcare, and governance is another factor supplementing the market growth. The identification and security system have become an important part of electronic devices, such as smartphones and laptops. Thus, the robust demand for electronic products is further contributing to the market growth.
Furthermore, enormous government norms introduced to implement this technology across several global policies and recognition applications have strengthened the market size. For example, India’s AADHAR project major biometric identification system in the world is a perfect example of this system. Also, various financial institutions such as banks are preparing to modify the customer base recognition through biometrics, which will offer various growth opportunities for the market. Moreover, in accordance with the Global biometrics market forecast the decreasing price of technology is further supporting the market growth.
Nonetheless, the sudden spread of the coronavirus has stimulated market growth. This is because of their extensive endorsement for preliminary identification, public protection administration, and patient screening to eradicate the spread of the virus. Further, as per the Biometrics Market Reports their growing application in face recognition and scrutiny operations systems to identify individuals not wearing preventive masks is further supplementing the demand of the market.
Authentication Type Segment Drivers
Based on the authentication type a single factor is anticipated to elevate the market growth over the forecast period. Fingerprint identification is a type of biometric solution employed across various sectors such as healthcare and banking & finance.in addition to this, the government and travel & immigration sector perceive robust demand for e-passport or e-visa (US Spouse visa, Tourist visa, Children’s visa, etc.) and the driving license. The solution is cost-efficient and easy to install, which is fuelling the Biometrics Market Size.
Biometric Market Segmentation:
Segmentation by Authentication Type
- Single-Factor Authentication
- Fingerprint Recognition
- AFIS
- Non-AFIS
- Iris Recognition
- Palm Print Recognition
- Face Recognition
- Vein Recognition
- Signature Recognition
- Voice Recognition
- Others
- DNA Recognition
- Keystroke Recognition
- Gait Recognition
- Otoacoustic Emissions
- Multi-Factor Authentication
- Smart Card with Biometrics
- Pin with Biometrics
- Multimodal Biometric
Segmentation by Offering
- Hardware
- Fingerprint Readers
- Scanners
- Cameras
- Others
- Software
Segmentation by Functionality
- Contact Functionality
- Non-Contact Functionality
- Combined Functionality
Segmentation by End-User
- Government
- Military & Defense
- Healthcare
- Banking & Finance
- Consumer Electronics
- Travel & Immigration
- Automotive
- Security
- Residential Security
- Commercial Security
- Others
Segmentation by Region:
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
About GMI Research
The market research and consulting enterprise imparts business perception and research reports to support clients in formulating strategic norms and attain a feasible growth in the market domain. The large team of GMI Organisation experts offer a comprehensive solution for the client. The market research reports include a complete analysis, which includes sophisticated prediction, competitive landscape, crucial factors impacting the market growth, and other perceptions to assist companies in making intended decisions.
