Biometrics Market Analysis, Share, Industry & Revenue [2031]

Segments - Global Biometrics Market by Technology (Single Factor authentication, Face Recognition, Fingerprint, Palmprint, Iris, Voice, Signature, and Others), End-users (BFSI, Government & Defense, Aerospace, Automotive, Consumer Electronics, Healthcare, and Retail and E-commerce), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global biometrics market is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. Biometric authentication is a new approach to Internet of Things (IoT) security. In order to identify a user, behavioral biometrics uses smartphones and IoT devices to collect important data sets. As more IoT-connected device is being used, a humongous data is collected, allowing for a continual authentication procedure to take place while the device in operation.

Market Trends, Drivers, Restraints and Opportunities:

Increasing government data-security initiatives and growing usage of mobile devices are major factors driving the market growth.
Rising demand for robust fraud detection and prevention systems is estimated to fuel the growth of the market.
Expanding adoption of biometric systems with IoT devices is expected to propel revenue growth of the market.
The introduction of e-passports is expected to increase demand for biometric systems, which in turn is expected to boost growth of the market.
High cost of integrating biometrics capabilities into conventional/existing business applications can create challenges for the market growth.
Data security and privacy concerns among end-users can hamper the market expansion.
Growing integration of artificial intelligence (AI) and blockchain technologies with biometrics-as-a-service (BaaS) solutions is anticipated to provide opportunities for the market growth.

Scope of the report:

The report on Biometrics market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Biometrics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018 & 2019
Forecast Period	2021–2027
Segmentation	Technology (Single Factor authentication, Face Recognition, Fingerprint, Palmprint, Iris, Voice, Signature, and Others), End-users (BFSI, Government & Defense, Aerospace, Automotive, Consumer Electronics, Healthcare, and Retail and E-commerce)
Regional Scope	Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage	Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Key Players Covered	NEC, Fujitsu, Nuance, Thales, Leidos, Idemia, M2SYS, and Hypr

Biometrics Market Segment Insights:

Single factor authentication segment held a significant market share in 2020

Based on the technology the market is divided into single factor authentication, face recognition, fingerprint, palmprint, iris, voice, signature, and other. The single factor authentication segment to grow at a robust rate during the forecasted period. This can be attributed to convenience, cost-effectiveness, and fast responsiveness of the single-factor authentication technique. The single-factor authentication method is mainly used in government, travel and immigration, and banking applications. Major implementation of facial and fingerprint recognition solutions in consumer electronics has spurred the demand for single-factor authentication-based biometric systems.

Government & defense segment is anticipated to exhibit a high CAGR

On the basis of end-users, the market can be fragmented into BFSI, government & defense, aerospace, automotive, consumer electronics, healthcare, and retail and e-commerce. The government & defense segment is expected to grow at a rapid rate during the forecast period. Increasing terrorist attacks has increased the use of biometric technologies, which help to identify the enemy and to improve security and surveillance. Many government job applicants and contractors must undergo background checks to confirm their claimed identity and to verify they’re not listed in criminal databases. Biometrics enhance identity proofing for employee screening by searching biometric databases using fingerprint, face, or iris data. Private-sector institutions such as banks also use biometrics to verify applicant identities for the same purpose. This keeps people with criminal pasts or fake identities from taking roles that they are not qualified for and out of positions.

The market in Asia pacific to expand at a high CAGR

In terms of regions, the market can be segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia pacific is expected to grow at a robust rate during the the forecast period. Developing countries, such as China and India are driving the growth of the biometric market in region. China has initiated a biometric national ID program, which commenced in 2013 and India started the program in 2011. The increase in computer storage of essential documents has increased the requirement for next-generation biometric systems. North America is expected to contribute a large market share in terms of revenue during the forecast period owing to early adoption of latest technologies and the presence of major market players. Factors such as large-scale funded programs and employee access monitoring in buildings are driving the revenue growth in this region.

Segments

By Technologies

Single factor authentication
Face recognition
Fingerprint
Palmprint
Iris
Voice
Signature
Others

By End-users

BFSI
Government & Defense
Aerospace
Automotive
Consumer Electronics
Healthcare
Retail and E-commerce

By Regions

North America
Europe
Latin America
Asia Pacific
Middle East & Africa

By Key Players

NEC
Fujitsu
Nuance
Thales
Leidos
Idemia
M2SYS
Hypr

Competitive Landscape

Key players operating in the market are NEC, Fujitsu, Nuance, Thales, Leidos, Idemia, M2SYS, and Hypr.

Nuance is a well-established voice biometrics solution and Natural Language Understanding (NLU) solutions provider with an extensive geographic presence. The company's sections include healthcare, enterprise, automotive, and imaging. It provides services to multiple verticals, such as financial services, government, healthcare, legal, manufacturing, education, and logistics. The company has been expanding its biometrics solution portfolio with the addition of behavioral biometrics solutions by partnering with Bio Catch, a leading behavioral biometrics solutions provider. This partnership has enabled Nuance to offer multi-factor authentication solutions to customers.

Biometrics Market by key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Biometrics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Biometrics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Biometrics Market - Supply Chain
  4.5. Global Biometrics Market Forecast
     4.5.1. Biometrics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Biometrics Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Biometrics Market Absolute $ Opportunity
5. Global Biometrics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Biometrics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Biometrics Demand Share Forecast, 2019-2026
6. North America Biometrics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Biometrics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Biometrics Demand Share Forecast, 2019-2026
7. Latin America Biometrics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Biometrics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Biometrics Demand Share Forecast, 2019-2026
8. Europe Biometrics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Biometrics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Biometrics Demand Share Forecast, 2019-2026
9. Asia Pacific Biometrics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Biometrics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Biometrics Demand Share Forecast, 2019-2026
10. Middle East & Africa Biometrics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Biometrics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Biometrics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Biometrics Market: Market Share Analysis
  11.2. Biometrics Distributors and Customers
  11.3. Biometrics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. NEC
     11.4.2. Fujitsu
     11.4.3. Nuance
     11.4.4. Thales
     11.4.5. Leidos
     11.4.6. Idemia
     11.4.7. M2SYS
     11.4.8. Hypr