Biometric Systems Market by Offering, Biometrics Type (Fingerprint Recognition, Voice Recognition), Contact Type, Authentication Type, Platform, Application, End User (Government, Military & Law Enforcement, and Others)– Global Forecast to 2029

Biometric Systems Market by Offering, Biometrics Type (Fingerprint Recognition, Voice Recognition), Contact Type, Authentication Type, Platform, Application, End User (Government, Military & Law Enforcement, and Others)– Global Forecast to 2029

The research report titled, “Biometric Systems Market by Offering, Biometrics Type (Fingerprint Recognition, Voice Recognition), Contact Type, Authentication Type, Platform, Application, End User (Government, Military & Law Enforcement, and Others) - Global Forecast to 2029,” provides in-depth analysis of biometric systems market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2029. The global biometric systems market is expected to reach $51.6 billion by 2029, growing at a CAGR of 12.4% during the forecast period of 2022 to 2029.

The growth of this market is mainly attributed to the growing demand for mobile biometrics devices, rising government initiatives for biometrics technology, increasing use of biometric technology in consumer electronics for authentication and identification applications, and the growing need for security measures in military and law enforcement are the key factors driving the growth of the biometric systems market.

The study offers a comprehensive analysis of the global biometric systems market with respect to offering, biometrics type, contact type, authentication type, platform, application, end user, and geography.

The market is segmented based on offering (hardware and software), biometric type (fingerprint recognition, face recognition, voice recognition, iris recognition, signature recognition, vein recognition, palm print recognition, and other biometrics types), authentication type (single-factor authentication and multi-factor authentication), contact type (contact-based, contactless, and hybrid), platform (on-site, mobile devices, PC’s, & wearable devices), application (digital identification, access control & authentication, security & surveillance, and other applications), end user (IT & telecom, government, finance & insurance, retail, military & law enforcement, healthcare, recreation, education, transportation/warehousing, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the market at a country level.

Based on authentication type, the multi-factor authentication segment is expected to record the fastest growth over the forecast period. The growth of this segment is mainly driven by the growing adoption of BYOD, rising cyber security incidents and identity thefts, and high demand for cloud-based MFA solutions. Also, the wide adoption of authentication solutions across BFSI, government, and healthcare sectors resulting in the growing demand for multi-factor authentication solutions is expected to drive the growth of this segment over the forecast period.

Based on platform, the mobile devices segment is expected to grow at the highest CAGR during the forecast period. The rising trend of mobile transactions, growing adoption of biometrics features in smartphones, and rising use of mobile biometrics in e-commerce and online gaming are expected to support the growth of this segment.

Based on end user, the healthcare segment is expected to grow at the highest CAGR during the forecast period. The growing incidence of healthcare data breaches and medical identity theft, adoption of contactless biometrics authentication, and integration of biometric solutions in healthcare set-ups in emerging economies are expected to support the growth of this segment.

Geographically, the biometric systems market is segmented into five major geographies, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia Pacific is expected to account for the largest share of the biometric systems market. Also, this region is expected to witness rapid growth during the forecast period. The growth of this region is mainly driven by the presence of prominent players, the rising need for biometric systems for security purposes, supportive government initiatives across the region, and investments by major biometrics companies.

The global biometric systems market is consolidated and dominated by a few major players, namely, NEC Corporation (Japan), CardLogix Corporation (U.S.), Fujitsu Limited (Japan), Thales Group (France), Integrated Biometrics LLC (U.S.), Iris ID, Inc. (U.S.), Suprema, Inc. (South Korea), HID Global Corporation (U.S.), Precise Biometrics (Sweden), Aware, Inc. (U.S.), Daon, Inc. (U.S.), M2SYS Technology (U.S.), BIO-key International (U.S.), Cognitec Systems GmbH (Germany), BioRugged (South Africa), DERMALOG Identification Systems GmbH (Germany), IDEMIA (France), and ImageWare Systems, Inc. (U.S.).

Key questions answered in the report-

• Which are the high-growth market segments in terms of the offering, biometric type, contact type, authentication type, platform, application, end user, and region?
• What is the historical market for biometrics systems across the globe?
• What are the market forecasts and estimates for the period 2020-2029?
• What are the major drivers, restraints, and opportunities in the global biometric systems market?
• Who are the major players in the global biometric systems market and what share of the market do they hold?
• Who are the major players in various countries and what share of the market do they hold?
• How is the competitive landscape?
• What are the recent developments in the global biometric systems market?
• What are the different strategies adopted by the major players in the global biometric systems market?
• What are the geographical trends and high-growth countries?
• Who are the local emerging players in the global biometric systems market and how do they compete with the other players?

Biometric Systems Market Report Summary

Report Metrics	Details
Years Considered	2020 - 2029
Base Year	2021
Forecast Period	2022-2029
Page Count	282
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Offering, Market by Biometric Type, Market by Authentication Type, Market by Contact Type, Market by Platform, Market by Application, Market by End User, Market by Geography
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Companies Mentioned	NEC Corporation (Japan), Thales Group (France), Aware, Inc. (U.S.), BIO-Key International, Inc. (U.S.), Fujitsu Limited (Japan), HID Global Corporation (U.S.), Imageware Systems, Inc. (U.S.), Precise Biometrics (Sweden), Iris ID, Inc. (U.S.), Aratek Biometric (Taiwan), BioRugged (South Africa), Cognitec Systems GmbH (Germany), Daon, Inc. (U.S.), DERMALOG Identification Systems GmbH (Germany), Integrated Biometrics, Inc. (U.S.), IDEMIA (France), M2SYS Technology (U.S.), Suprema Inc. (South Korea), and CardLogix Corporation (U.S.).

FAQs About the Report

What is the value of revenue generated from the sale of the biometric systems across the globe? At what rate is their demand expected to grow for the next 5–7 years?

The global biometric systems market is projected to reach $51.6 billion by 2029 at a CAGR of 12.4% during the forecast period.

Which authentication type segment showcases high growth opportunities for the biometric systems market players?

In 2022, the single-factor authentication segment is expected to account for the larger share of the global biometric systems market. The growing volume of online transactions, the rising need to prevent fraudulent activities, and the growing significance of single-factor authentication in the BFSI sector are the key factors driving the growth of the single-factor authentication segment. However, the multi-factor authentication segment is expected to record the fastest growth over the forecast period.

Which application segment is projected to create more traction in the global biometric systems market?

The access control and authentication segment is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of this segment include increasing consumer demand for modern access control and authentication devices and the growing adoption of contactless authentication devices.

What are the key factors driving the growth of the biometric systems market? What are major opportunities for existing market players and new entrants in the market?

The growth of the market is attributed to the factors such as growing demand for mobile biometrics devices, rising government initiatives for biometrics technology, and growing security requirement in the banking sector. The significant advances in biometric solutions designed for authentication and identification applications is expected to create growth opportunities for the players operating in this market.

Who are the major players operating in the global biometric systems market?

The key players operating in the global biometric systems market are NEC Corporation (Japan), Thales Group (France), Aware, Inc. (U.S.), BIO-Key International, Inc. (U.S.), Fujitsu Limited (Japan), HID Global Corporation (U.S.), Imageware Systems, Inc. (U.S.), Precise Biometrics (Sweden), Iris ID, Inc. (U.S.), Aratek Biometric (Taiwan), BioRugged (South Africa), Cognitec Systems GmbH (Germany), Daon, Inc. (U.S.), DERMALOG Identification Systems GmbH (Germany), Integrated Biometrics, Inc. (U.S.), IDEMIA (France), M2SYS Technology (U.S.), Suprema Inc. (South Korea), and CardLogix Corporation (U.S.).

Which regions/countries are expected to witness significant demand for biometric systems in the coming years?

Asia-Pacific dominates the global biometric systems market, and Asia-Pacific is expected to grow at the highest growth rate over the coming years.