United States Biometrics Market To Reach US$ 10.0 Billion by 2027 | CAGR of 14.7%

According to the latest report by IMARC Group, titled "United States Biometrics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The United States biometrics market size reached US$ 4.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2027, exhibiting a growth rate (CAGR) of 14.7% during 2022-2027. Biometrics is the process of authenticating and recognizing an individual's unique physical and behavioral traits using an electronic device. They involve the utilization of automated techniques in which human intervention is reduced to the minimum to recognize and confirm user's identities based on their distinctive features, such as fingerprints, iris and voice recognition, and face pictures. They are convenient and secure security systems that are widely utilized in workplaces to streamline various processes, including employee identification, user authentication and physical and logical access control while safeguarding cloud communication. Additionally, they assist human resource (HR) personnel in reducing the time and cost associated with employee attendance systems, making management processes more systematic.

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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 growing demand for highly efficient security systems is driving the market in the United States. Moreover, the widespread implementation of facial recognition technology in several industry verticals and the adoption of voice biometrics solutions by call centers to enhance interactive voice response (IVR) are fuelling the market. Furthermore, the rising integration of artificial intelligence (AI) and machine learning (ML) with biometric systems are significantly supporting the demand across the country. Besides this, the introduction of multimodal biometrics that utilizes multiple behavioral and physiological characteristics for authentication that aid in improved recognition and security performance is impacting the market growth favorably. Other factors, such as the rising popularity of biometrics in the retail and e-commerce industries and government and private sectors, are positively influencing the market across the United States.

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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 Region:

• Northeast
• Midwest
• South
• West

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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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