Global Biometric Technology Market By Overview
Biometric Technology Market was valued at US$ 48.8 billion in 2024 and is projected to grow at a CAGR of 21 % to reach US$ 329.5 billion by 2034.
Biometric technology offers an innovative methodology over customary PIN-based methods. It has a key application and used to protect the sensitive or private data from fake use of a person’s belongings, such as mobile phones, smart cards, ATMs, and access to laptops, desktops, and systems by unique identification system. It uses both psychological along with physiological traits for identification that makes it useful in a range of vital applications, such as law enforcement, national security, business transactions, personal information, enterprise and e-governance, and others.
For security identification and authentication, biometric devices are employed. These gadgets have the ability to identify a user and then accurately demonstrate whether the identified person is who they say they are. Utilizing automated methods that minimize human interaction, biometric security systems identify and verify a person's identity by unique physiological or behavioral traits, like voice recognition, iris recognition, face photos, fingerprints, and face recognition. An individual's biometric template and characteristic data are compared in biometric authentication technology. The objective is to verify if the people indeed resemble the people who have claimed to be them. Moreover, the systems match behavioral or physical traits to information in a recognized database.
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Biometric Technology Market By Dynamics
Biometric Technology Market Key Drivers:
- Rise in demand for biometric technology for authentication
Growing demand for rapid, adoption of contactless technologies due to increasing awareness regarding hygiene by consumers led to the boost of Biometric technology market. Biometric technology such as fingerprint recognition, scanning, facial, recognition to solve the problems related Security concerns, cyber threats, unauthorized access compared to traditional methods of authentication. Smartphones and other devices also have biometric technology for authentication, adoption of these technologies in electronics to be the driving factor for targeted market. Banking and financing sector are also adopting various biometric technologies to enhance security related to transactions and protect personal and sensitive information of consumers, healthcare industry also contribute significantly in biometric technology market expansion as it helps in data management, access control and patient identification.
- Rapid technological advancements
Biometric technology provides faster, efficient authentication process leading to their adoption in various market. Advances in Biometric technology have led to cost reductions in manufacturing and implementation. Innovations such as 3D facial recognition, vein pattern recognition, iris scanning, contribute significantly in Biometric technology market expansion. Biometric technology is also used in surveillance, increasing cases of fraud, scam drives the use of biometric technology in various sectors to ensure safety. CCTV are installed which records facial characteristics and stores the information in case it needs to be used in future. Emergence of AI- driven biometric technology offers growth opportunities for Biometric technology market.
Biometric Technology Market Restrains:
- Heavy initial investment
The price of installing biometric systems, which includes maintenance costs, software, and hardware, can be a major drawback for the growth of the biometric technology market worldwide. Cost of installation of new biometric technologies such as facial recognition, vein biometry are costlier compared to conventional security system. Exchanging traditional CCTV cameras with modern and adoption of new technologies are not affordable for SME industries and individual users and this might restrain the target market growth. Chances of data leaking and hacking of data leading to privacy concerns may significantly restrict the biometric technology market.
Global Biometric Technology Market By Segmentation
Biometric Technology Market is segmented based on Type, End user and Region.
Type Insight
On the basis of Type, Biometric Technology Market is segmented into Face, Signature, Iris, Voice, Hand geometry, Fingerprint, and Middleware. Fingerprint recognition segment tends to dominate the segment over the forecast period. Adoption of fingerprint-based attendance recognition and high use of fingerprint recognition in electronic devices makes this segment contribute for highest revenue in biometric technology market.
End user Insights
On the basis of End user, Biometric Technology Market is segmented into Healthcare, Public Sector, It & Telecommunication, Banking & Financial Sector, and Others. Banking and financial sector including governmental sector dominates the biometric technology market. Adoption of biometric technology for maintaining consumers information, data management and security concerns lead to biometric technology market expansion.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Biometric Technology Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America market is estimated to witness a significantly high revenue share over the forecast period, owing to increasing adoption of biometric technologies by security and governmental organizations, wide applications in various departments such as defense, homeland security.
- Asia Pacific market is estimated to witness fastest revenue share due to growing adoption of advanced technology, demand for advanced security solutions. Rapidly increasing IT sector in the region favors the use of biometric technology for security concerns, protecting confidential data tends to boost the biometric technology market in the region.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Type - Face, Signature, Iris, Voice, Hand geometry, Fingerprint, and Middleware By End User - Healthcare, Public Sector, It & Telecommunication, Banking & Financial Sector, and Others |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Biometric Technology Market report based on Type, End user, and Region:
Biometric Technology Market, By Type:
- Face
- Signature
- Iris
- Voice
- Hand geometry
- Fingerprint
- Middleware
Biometric Technology Market, By End user:
- Healthcare
- Public Sector
- It & Telecommunication
- Banking & Financial Sector
- Others
Biometric Technology Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Company Profile:
- DigitalPersona *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Business Strategies
- NEC
- Cross Match Technologies
- SafranMorpho and NEC Corporation
- 3M Cogent
- BIO-Key International
- Thales
- Fujitsu
- Precise Biometrics
- ASSA ABLOY
- Aware
- Secunet Security Networks
- Stanley Black & Decker
“*” marked represents similar segmentation in other categories in the respective section
Global Biometric Technology Market By Key Players
The key players operating the Biometric Technology Market includes, NEC, Cross Match Technologies, SafranMorpho and NEC Corporation, DigitalPersona, 3M Cogent, BIO-Key International, Thales, Fujitsu, Precise Biometrics, ASSA ABLOY, Aware, Secunet Security Networks, and Stanley Black & Decker.
Global Biometric Technology Market By Key Issues Addressed
Recent Development:
- In September 2023, IDEX Biometrics and KL HI-TECH, a well-known global card manufacturer and supplier of smart cards and secure printing solutions to state and federal governments, launched biometric payment cards in the Indian market. KL HI-TECH is certified in many ISO classes, has 36 million dual-interface payment card production capacity annually, and is approved by Visa, Mastercard, and RuPay. Among KL HI-TECH's clientele are significant banks in Asia and India. It is anticipated that bank customers will begin receiving KL HI-TECH biometric cards in the first quarter of 2024.
- In September 2023, Mercedes-Benz introduced a biometric fuel payment system in Germany, marking a major advancement in in-car payments. This function, which enables drivers of compatible Mercedes-Benz models to pay for gas via an in-car fingerprint scan, is provided by the premium automaker in partnership with Mastercard. The MBUX infotainment system in the vehicle, notably the "Mercedes me Fuel & Pay" feature, handles the payment. There are presently more than 3,600 petrol stations in Germany that accept this new payment method.
- In October 2022, Fingerprint Cards announced the launch of its new biometric system for PC manufacturers, which is now being evaluated by several PC OEMs. The Match-on-Chip system consists of a customized microcontroller unit (MCU) combined with a fingerprint sensor.
Global Biometric Technology Market By Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Preview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map Analysis
- Report Description
- Market Dynamics Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Drivers- Restraints Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Market Dynamics
- Biometric Technology Market, By Product Type, 2024 — 2034
- Introduction
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 — 2034
- Y-o-Y Growth Analysis (%), 2024 — 2034
- Segment Trends
- Face
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Signature
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%),2024 — 2034
- Iris
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Voice
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Hand geometry
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Fingerprint
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%),2024 — 2034
- Middleware
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Introduction
Market Segmentation, End User, 2024 — 2034
- Introduction
- Market Value and Forecast (US$ Mn), and Share Analysis (%),2024 — 2034
- Y-o-Y Growth Analysis (%), 2024 — 2034
- Segment Trends
- Healthcare
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Public Sector
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- IT & Telecommunication
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Banking and Financial Sector
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Others
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 — 2034
- Global Market, By Region, 2024 — 20234
- Introduction
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 — 2034
- Y-o-Y Growth Analysis (%),2024 — 2034
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn) , By Product Type, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By End Users, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By Country, 2024 — 2034
- U.S.
- Canada
- Latin America
- Market Size and Forecast (US$ Mn) , By Product Type, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By End Users, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By Country, 2024 — 2034
- Brazil
- Mexico
- Argentina and Chile
- Rest of Latin America
- Europe
- Market Size and Forecast (US$ Mn) , By Product Type, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By End Users, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By Country, 2024 — 2034
- Germany
- UK
- France
- Russia
- Italy
- Switzerland
- Sweden
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn) , By Product Type, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By End Users, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By Country, 2024 — 2034
- China
- India
- Australia & New Zealand
- Japan
- South Korea
- Rest of Asia Pacific
- Middle East
- Market Size and Forecast (US$ Mn) , By Product Type, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By End Users, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By Country, 2024 — 2034
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast (US$ Mn) , By Product Type, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By End Users, 2024 — 2034
- Market Size and Forecast (US$ Mn) , By Country, 2024 — 2034
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- SafranMorpho
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- NEC Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- 3M Cogent
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- BIO-Key International
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- DigitalPersona
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- NEC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- Thales
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- Fujitsu
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategy Overview
- SafranMorpho
- Analyst Views
- Section
- Research Methodology
- About Us
- Contact
FAQs
The Biometric Technology Market is segmented into Type, End User, and Region.
Upcoming trends in the Biometric Technology Market include increased use in cybersecurity and integration with AI for enhanced security and user authentication, offering significant global opportunities.
The Biometric Technology Market is driven by a surge in demand for secure and convenient authentication methods, rising concerns about identity theft, and continuous technological advancements, promoting widespread adoption across industries.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The APAC market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the target market includes, NEC, Cross Match Technologies, SafranMorpho and NEC Corporation, DigitalPersona, 3M Cogent, BIO-Key International, Thales, Fujitsu, Precise Biometrics, ASSA ABLOY, Aware, Secunet Security Networks, and Stanley Black & Decker.