Biometrics Technology Market Report

Biometrics Technology Market Analysis By Application (Face, Hand geometry, Voice, Signature, Iris, AFIS, Non-AFIS), By End-Use (Government, Defense & Security, Banking & Finance, Consumer Electronics, Healthcare, Residential, Commercial, Transportation) And Segment Forecasts To 2020

Published: December 2014  |  80 Pages  |  Format: PDF  |  Report ID: 978-1-68038-299-0

Industry Insights

Biometrics technology provides high-level security for private, public and commercial sectors. It takes into account unique human characteristics such as the retina, fingerprints, DNA, and voice patterns for authorization. This technique helps in avoiding security breaches and frauds in comparison to the traditional methods such as the use of tokens and passwords. Biometrics systems use a reader, related software, and a database to provide a high degree of accuracy along with security.

Increasing concerns over internal and external security is expected to drive the biometrics technology market over the forecast period. Additionally, increasing use in government and private sectors for employee identification and attendance is expected to fuel the overall demand over the next six years. The high cost of biometrics technology may pose a challenge to market growth. Technology advancements such as multimodal biometrics technology are expected to provide new opportunities to market growth over the forecast period.

Global biometrics technology market by application (USD Million), 2012 - 2020

biometrics-industry

Application Insights

Biometrics technology is widely used for applications including face recognition, voice recognition, signature recognition, hand geometry, iris, AFIS, and non-AFIS. Contactless biometric techniques such as palm print and hand vein biometrics recognition are expected to witness considerable growth over the forecast period.

Non-AFIS systems are more user-friendly and economical as compared to AFIS; therefore, they are widely used in smartphones and laptops. Automated Fingerprint Identification System (AFIS) is used in various civil applications and law enforcement. Its primary contribution is expected to come from the private sector through a background check for employees. Iris based surveillance, identity recognition, and access control is expected to become an integral part of the biometrics technology market. It is used in government programs, ATM facilities, transaction security, financial institutions and military intelligence, etc. A key benefit of iris technology is convenience and safety; the user does not have to be in any physical contact with the reader to use this technology.

End-Use Insights

Government and transportation sectors are expected to be the key end-use segments over the forecast period. Biometrics technology is widely used to counter issues such as identity theft and illegal migration. The commercial sector is expected to witness considerable growth for the next six years owing to opportunities in financial and enterprise security. Technology implementation can be a costly affair for any enterprise, which can pose a challenge to the market. However, technology advancements and increasing use of these technologies may gradually reduce the overall implementation cost. Healthcare sector is expected to grow significantly owing to rapid technological advancements and use of biometrics technology for protecting patient privacy, curb false insurance claims and other health care frauds.

Regional Insights

Biometrics technologies are increasingly used to cater safety and security needs owing to increasing terrorist threats worldwide. North America is expected to be the dominant market over the forecast period. In the U.S., biometrics techniques are widely used in various departments including commerce, defense, homeland security, justice, and state, etc. Asia Pacific is expected to exhibit high growth owing to increasing awareness for biometrics technology. The market in China, India, Russia and Mexico is expected to grow significantly. Initiatives such as e-KTP electronic ID initiative in Indonesia and the UIDAI project in India use face, fingerprints, and eyes biometrics for individual identification are also expected to provide new opportunities for the market.

Competitive Insights

This market comprises companies including NEC Corporation, Precise Biometrics AB, Fujitsu Limited, 3M Cognet, Hitachi, FaceFirst, and Nuance Communications among others. 3M Cognet offers a wide range of fingerprint & palm print identification products and applications with innovative features. Industry participants enter into mergers & acquisitions to sustain in the market. 3M Cogent has partnerships with companies such as BlackBerry, Siemens, Lockheed Martin, Accenture and Sun Microsystems, etc. The company has developed a Bluetooth-enabled portable fingerprinting scanner, which is used in the mobile biometrics technology market.

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