Global Biometric Authentication & Identification Market - Overview
biometrics authentication and identification market is being adopted by almost all applications, including government, healthcare, enterprises, banking and financial institutions, consumer electronics, and retail and commercial verticals, as the global population becomes more concerned about security and safety.
The global biometrics market is changing away from fixed biometrics devices and toward mobile biometrics devices, as well as the trend of touch-less biometrics. Humans' physiological and behavioral characteristics are captured via biometric equipment. Biometrics devices would include, among other things, fingerprint scanners, facial recognition devices, vein pattern scanners, iris and retina scanners, voice modulation devices, and multimodal devices. The market is being driven by the integration of biometrics devices in wearable items and the emergence of portable biometrics devices.
In the future, the Biometric Authentication & Identification Market has a lot of promise. Healthcare, retail and commerce, banking and financial institutions, consumer electronics, and many other industries are expected to be shaken by the impending wave of biometrics devices. Expensive products, privacy concerns, and acceptance of technology upgrades were just a few of the issues that these devices had to deal with.
Global Biometric Authentication & Identification Market - Competitive Analysis
Biometric equipment and applications have made their mark in government agencies, commercial businesses, and institutional settings all around the world. In many developed and emerging countries, it has become the principal technique of civil identification. Biometrics is widely employed in both physical and logical access control in high-security environments. Biometrics are used in high-security military areas, nuclear reactors, and weapon research centers, among other places, to protect the site and keep attackers out. It's also utilized at the border, where the identity of those seeking entry into a country is checked against records, and unknown people are detected using automatic biometric recognition. Biometric devices and applications seem to taking over the world by storm, however, in terms of market penetration, they are still their infancy.
Key Players:
Safran SA (France), NEC Corporation (Japan), Fujitsu Ltd. (Japan), BIO-Key International, Inc. (U.S.), Precise Biometrics AB (Sweden), Secunet Security Networks AG (Germany), Thales SA (France), Aware, Inc. (U.S.), Cognitec Systems GmbH (Germany), Cross Match Technologies (U.S.), Fulcrum Biometrics, LLC (U.S.), Daon, Inc. (U.S.), Facebanx (U.K.), and 3M Cogent, Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Mobile Security Market.
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Global Biometric Authentication & Identification Market - Segmentation
The Biometric Authentication Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by authentication type: Comprises Single Factor Authentication (Fingerprint Recognition, Iris Recognition, Palm Print Recognition, Face Recognition, Vein Recognition, Signature Recognition), Multi-Factor Authentication (Biometrics combined with Smart Card Technology, Biometrics combined with Pin Technology)
Segmentation by Motility: Comprises Fixed and Mobile
Segmentation by component: Comprises hardware (Fingerprint readers, Scanners, Camera)
Segmentation by Application : Comprises Enterprise, Banking and financial institutions, Government, Healthcare, Consumer electronics and Retail and commerce among others.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Global Biometric Authentication & Identification Market - Regional Analysis
North America lead the market for global biometric authentication & identification in 2016, followed by Europe and Asia Pacific. The North America has made considerable investments in setting up biometrics-based security solutions at its borders and airports through its customs and border protection (CBP), a government agency to monitor the influx of immigrants and tourists. All these developments have led to the growth of the biometric system market in North America.
Asia Pacific is adapting biometric systems at a very rapid speed. Ongoing government projects which include issuance of e-passports & visas, and unique identification cards under the Aadhar System (in INDIA), have played a major role in boosting demand for biometric systems in Asia Pacific. Growing digitization in the government sector is expected to further propel use of biometric technology in the country over the next five years
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The use of biometrics across various industries is majorly due to a higher demand of enhanced safety and security of the personnel.
Among the changing paradigm of the consumer as well as enterprise market, a significantly higher demand of biometrics from the consumer goods segment such as from smartphones, laptops, and tablets is majorly impacting the growth of the biometric industry.
Another factor driving the growth of this market is the use of biometric in anti-money laundering coupled with an increased use of biometrics in the era of blockchain.
In 2018, the government sector is estimated to be the largest market with banking and financial institutions following the lead in the global biometric authentication and identification market.
The ever-increasing demand for securing the identity of any individual and identifying the individual for any crimes has led to a surge in demand of biometrics in government application.
Another growing application sector is the banking and financial institutions which is increasingly using the biometric systems for the user identification.
According to the market research report Biometric Identification Market by Authentication Type (Single-Factor and Multifactor), Functionality Type (Contact, Non-Contact, and Combined), Component (Hardware and Software), Application, and Geography — Global Forecast to 2023.
The biometric identification market for automotive is projected to grow from USD 6.94 Billion in 2017 to USD 21.72 Billion by 2022, at a CAGR of 25.61% during the forecast period.Download our free PDF Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=41718140“Voice recognition system to be the largest market for biometric identification“The voice recognition system is one of the most common features that the manufacturers are now offering in the mid to high-end passenger cars.
Along with voice authentication, the voice recognition system is also used for navigation and infotainment.Request for free Customization:https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=41718140Target Audience of Biometric Identification MarketBiometrics technology suppliersBiometric system/component manufacturersDealers and distributors of automotive biometrics components and systemsIndustry associationsRaw material suppliersBrowse and in-depth TOC on Biometric Identification Market105 — Tables67 — Figures200 — Pages“Presence of a large number of manufacturers would drive the North American biometric identification market”The North American region is projected to have the largest share of the biometric identification market during the forecast period.
The market growth in the region can be attributed to the presence of a large number of manufacturers such as Synaptics Incorporated (U.S.), Nuance Communications, Inc. (U.S.), and Methode Electronics (U.S.), among others.
Also, the rising concerns for vehicle security and increasing demand for luxury vehicles equipped with biometric module or system such as fingerprint recognition and iris recognition will boost the market for biometric identification in the region.Request for sample:https://www.marketsandmarkets.com/requestsampleNew.asp?id=41718140The key market players are Hitachi, Ltd. (Japan), FUJITSU (Japan), Synaptics Incorporated (U.S.), Robert Bosch GmbH (Germany), Continental AG (Germany), and Valeo (France)About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
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