Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
The global biometrics market reached a value of US$ 23.5 Billion in 2020. Biometrics refers to processes used to authenticate, recognize and identify people based on their physical or behavioral characteristics. They match an individual’s identifiers to their biometric template already stored in the database. Biometrics identifiers can be divided into two categories, namely, physiological and behavioral characteristics. Physiological characteristics include fingerprints, palm veins, palm prints, face, DNA, iris, retina and hand geometry, whereas behavioral characteristics comprise typing patterns and voice and signature recognition.
Global Biometrics Market Drivers:
Biometrics systems are gaining immense popularity across the globe as they are easy to use and implement, as well as provide a cost-effective solution for ensuring high-end security and assurance. Apart from this, biometrics technologies are extensively used in both governmental and private organizations, and institutional setups for door access, employee identification and marking attendance. They are also installed in high-security areas to safeguard the facility and reduce the risk of intrusion by identifying unknown people through automated biometrics recognition. Furthermore, many companies are entering into partnerships to expand their operations across the globe. For instance, Microsoft has recently tested and qualified BIO-Key’s three new compact USB fingerprint reader accessories, SideSwipe, SideTouch, and EcoID, to support the latest biometric authentication sign-in option in Windows 10. Besides this, the introduction of multimodal biometrics that uses more than one behavioral or physiological characteristic for authentication is expected to offer improved recognition and security performance. Moreover, the coronavirus disease (COVID-19) outbreak has led a shift toward contactless biometrics systems that analyze face, gait and voice recognition for identity authentication. Looking forward, IMARC Group expects the global biometrics market to exhibit strong growth during 2021-2026.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biometrics market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, service, organization size, and verticle.
Breakup by Technology:
Breakup by Functionality:
Breakup by Authentication:
Breakup by Component:
Breakup by End-User:
Banking and Finance
Commercial Safety and Security
Breakup by Region:
Middle East and Africa
The global biometrics market consists of numerous small and large manufacturers. Some of the leading players operating in the market are Accu-Time Systems, BIO-Key International, Inc., Cognitec Systems, GmbH, Fujitsu Limited, 3M Cogent, Inc., IDTECK, NEC Corporation, Siemens AG, RCG Holdings, Ltd., Suprema, Inc., Lumidigm, Inc., IrisGuard, Inc., Daon, Inc., DigitalPersona, Inc. and Morpho SA (Safran).
Key Questions Answered in This Report
1. What was the global biometrics market size in 2020?
2. What are the key global biometrics market drivers?
3. Who are the leading biometrics market players?
4. Which is the most popular technology segment in the biometrics market?
5. How is the global biometrics market projected to grow during the next five years?
6. Which is the dominant functionality segment in the global biometrics market?
7. What is the biometrics market breakup by component?
8. What is the key authentication segment in the global biometrics market?
9. Which is the leading regional market in the global biometrics industry?
10. What has been the impact of COVID-19 on the global biometrics market?
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