Global Biometrics Market 2025-2029

Biometrics Market 2025-2029

The biometrics market is forecasted to grow by USD 48298.3 mn during 2024-2029, accelerating at a CAGR of 16.6% during the forecast period. The report on the biometrics market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand and enhanced security, government initiatives, and advancement in technology.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's biometrics market is segmented as below:

By End-user

• Government
• Healthcare
• BFSI
• Others

By Component

• Hardware
• Software

By Technology

• Fingerprint recognition
• Facial recognition
• Iris recognition
• Voice recognition
• Others

By Geographical Landscape

• North America
• APAC
• Europe
• Middle East and Africa
• South America

This study identifies the increasing adoption of facial recognition technology as one of the prime reasons driving the biometrics market growth during the next few years. Also, growing demand for contactless biometric systems and emergence of cloud-based biometric systems will lead to sizable demand in the market.

The report on the biometrics market covers the following areas:

• Biometrics Market sizing
• Biometrics Market forecast
• Biometrics Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading biometrics market vendors that include Advent International Corp., ASSA ABLOY AB, Aware Inc., BIO key International Inc., Cognitec Systems GmbH, Daon Inc., Facebanx, Fujitsu Ltd., Furukawa Electric Co. Ltd., Iris ID Systems Inc., M2SYS, NEC Corp., NEXT Biometrics Group ASA, Precise Biometrics AB, Qualcomm Inc., secunet Security Networks AG, Securiport LLC, Suprema Inc., Thales Group, and Veridium IP Ltd.. Also, the biometrics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.