Europe Biometrics Market To Reach US$ 20.0 Billion by 2027 | CAGR of 16.8%

According to the latest report by IMARC Group, titled "Europe Biometrics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, the Europe biometrics market size reached US$ 7.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2027, exhibiting a growth rate (CAGR) of 16.8% during 2022-2027. Biometrics involves several processes that are widely deployed in the recognition, identification, and authentication of users. This is done using the behavioral and physical characteristics of individuals, such as the face, fingerprints, DNA, hand geometry, palm veins and prints, iris, signature, voice recognition and typing patterns. Additionally, biometric devices also assist in comparing an individual's identifiers to their biometric template that is already stored in the database for providing access to data, devices or systems. Due to their accuracy, reliability, efficiency and minimum human interventions, they are widely deployed across schools, colleges, and private and public facilities. Some of the commonly used biometric systems include capacitive, optical, thermal, and ultrasonic.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

The market in Europe is majorly driven by the increasing demand for authentication and identification solutions across the corporate sector. This can be attributed to the rising security concerns while facilitating access control in sensitive departments. In addition, the growing employment of biometrics technology to enhance accountability against internal threats and establish an indisputable audit trail is also significantly supporting the market. Besides this, the widespread adoption of the technology in private and government organizations for employee identification, door access, and marking attendance are propelling the market growth. Due to the sudden outbreak of coronavirus disease (COVID-19), the demand for touchless biometric solutions for access control has escalated across the region, thereby catalyzing its demand. Some of the other factors driving the market include technological advancements and the advent of biometric-as-a-service and multimodal biometrics.

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Key Market Segmentation:

Breakup by Technology:

• Face Recognition
• Hand Geometry
• Voice Recognition
• Signature Recognition
• Iris Recognition
• AFIS
• Non-AFIS
• Others

Breakup by Functionality:

• Contact
• Non-contact
• Combined

Breakup by Component:

• Hardware
• Software

Breakup by Authentication:

• Single-Factor Authentication
• Multifactor Authentication

Breakup by End User:

• Government
• Defense Services
• Banking and Finance
• Consumer Electronics
• Healthcare
• Commercial Safety and Security
• Transport/Visa/Logistics
• Others

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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