GCC Biometrics Market to Reach US$ 818.1 Million by 2028

According to the latest report by IMARC Group, titled "GCC Biometrics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The GCC biometrics market size reached US$ 361.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 818.1 Million by 2028, exhibiting a growth rate (CAGR) of 14.5% during 2023-2028.

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GCC Biometrics Market Outlook:

Biometrics includes the science and technology of analyzing and measuring individuals' unique physical and behavioral characteristics for identification and authentication purposes. It involves the automated recognition of individuals based on their biological and behavioral traits, which are highly distinctive and difficult to forge or replicate. Biometric systems capture and analyze various physiological and behavioral attributes, such as fingerprints, facial features, iris patterns, voiceprints, hand geometry, gait, and even DNA. In a wide range of applications, including border security, access control, financial transactions, law enforcement, healthcare, and personal gadgets, including smartphones and laptops, these distinctive traits are used to establish an individual's identification and confirm their validity. The inherent capability of biometrics to deliver a high level of security and accuracy in identity verification is one of its main advantages.

GCC Biometrics Market Trends:

Numerous government initiatives and regulations majorly drive the market in the GCC region. The governments in the GCC region recognize the potential of biometric technologies to enhance security, improve efficiency, and streamline processes in various sectors, thereby propelling the market. Along with this, the growing need for enhanced security is significantly supporting the market. With increasing threats to national security and a rise in identity-related crimes, there is a growing demand for robust and reliable authentication systems.

In addition, the widespread adoption of biometrics, as it offers a convenient and secure solution for verifying the identity of individuals during online transactions, mitigating the risk of fraudulent activities, is positively influencing the market. Apart from this, the integration of biometric authentication methods in digital payment systems, e-commerce platforms, and mobile applications is contributing to the market. Furthermore, the development of mobile biometrics to allow the integration of biometric authentication in smartphones is creating a positive outlook.

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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:

• Saudi Arabia
• UAE
• Qatar
• Oman
• Kuwait
• Bahrain

Competitive Landscape:

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

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This release was published on openPR.