Biometrics Technology Market Report

Biometrics Technology Market Analysis By Application (Face, Hand Geometry, Voice, Signature, Iris, AFIS, Non-AFIS), By End-Use (Government, Banking & Finance, Consumer Electronics, Healthcare, Defense & Security), By Region, And Segment Forecasts, 2014 - 2025

Published: February 2017  |  100 Pages  |  Format: PDF  |  Report ID: 978-1-68038-299-0

Industry Insights

The global biometrics technology market size was valued at USD 10.41 billion in 2015, owing to its advantages such as high level of security in the private, public, and commercial sectors. It records unique human characteristics, such as the retina, fingerprints, DNA, and voice patterns, for authorization.

This technique aids in avoiding security breaches and frauds in comparison to the traditional methods such as the use of tokens and passwords. The biometrics technology system uses a reader, related software, and a database to compare, thus providing a high degree of accuracy and security.

U.S. biometrics technology market, by end-use, 2014 - 2025 (USD Million)

U.S. biometrics technology market

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

Application Insights

The biometrics technology is widely used for applications including face recognition, voice recognition, signature recognition, hand geometry, iris, Automated Fingerprint Identification System (AFIS), and non-AFIS. Fingerprint scanning is the most widely used biometric authentication technique. Contactless biometric techniques, such as palm print and hand vein biometrics recognition, are expected to witness considerable growth over the forecast period.

Automated Fingerprint Identification System (AFIS) is expected to be a dominant application segment, owing to its usage in various civil applications and law enforcements. Its primary contribution is expected to emerge from the private sector through the background check of employees.

Iris-based surveillance, identity recognition, and access controls are expected to become integral parts of the industry. They are used in government programs, ATM facilities, transaction securities, financial institutions, and military intelligence. A key benefit of the Iris technology is convenience and safety; the user does not have to be in physical contact with the reader to use this technology. Non-AFIS are user-friendly and economical as compared to AFIS, therefore, are widely used in smartphones and laptops.

End-Use Insights

The government sector is expected to be the key end use segment over the forecast period. The technology is widely used to counter issues such as identity theft and illegal migration. The commercial sector is expected to witness considerable growth in the next nine years, owing to the opportunities in defense & security end-use segment.

The implementation of biometrics technology can be a costly affair for any enterprise, posing a challenge to the market. However, technological advancements and the increasing use of these technologies may gradually reduce the overall implementation cost. The healthcare sector is expected to grow significantly, owing to the rapid technological advancements and use of biometrics for protecting patient privacy, curb false insurance claims, and other healthcare frauds.

North America biometrics technology market, by application, 2015 (USD Million)

North America biometrics technology market

Regional Insights

Biometrics technology is increasingly used to cater the 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., biometric techniques are widely used in various departments including commerce, defense, homeland security, justice, and state, among others. The Asia Pacific regional market is expected to be the fastest growing market, owing to the increasing awareness of the technology. The markets in China, India, Russia, and Mexico are expected to grow significantly. Initiatives, such as e-KTP electronic ID initiative in Indonesia and the UIDAI project in India, using face, fingerprints, and eyes biometrics, are also expected to provide new opportunities for the market.

Competitive Insights

The biometrics technology industry includes companies such as NEC Corporation, Precise Biometrics AB, Fujitsu Limited, 3M Cogent, Hitachi, FaceFirst, and Nuance Communications, among others. 3M Cognet offers a wide range of fingerprint & palm print identification products and applications with innovative features.

The industry participants enter into mergers & acquisitions to sustain in the market. 3M Cogent has partnerships with companies such as BlackBerry, Siemens, Lockheed Martin, Accenture, Sun Microsystems, etc. The company has developed a Bluetooth-enabled portable fingerprinting scanner, which is used in the mobile biometric technology industry.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, UK, Germany, India, Japan, China, and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global biometrics technology market based on end-use, application, and region:

  • End-use Outlook (Revenue, USD Million; 2014 - 2025)

    • Government

    • Banking and Finance

    • Consumer Electronics

    • Healthcare

    • Transport/Logistics

    • Defense & Security

    • Others

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Face

    • Hand geometry

    • Voice

    • Signature

    • Iris

    • AFIS

    • Non-AFIS

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

    • The Middle East & Africa (MEA)

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