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Biometric Technologies Market Size, Share, Trends And Industry Forecast 2023-2032
Biometric Technologies Market Report
The Business Research Company's Biometric Technologies Global Market Report 2023 identifies he growing adoption of biometric technologies in consumer electronics as the major driver for the biometric technologies market's growth in the forecast period. Consumer electronics are any electronic devices designed to be purchased and used by end users, or consumers, for daily and non-commercial or professional purposes. Biometrics-based consumer electronic devices are standalone products that include mobile devices, security systems, access control door locks, automotive, home automation, the internet of things (IoT), and game consoles. The consumer electronics are increasingly incorporating biometric technology for safety and additional features.
The global biometric technologies market size is expected to grow from $46.38 billion in 2022 to $52.85 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global biometric technologies market size is expected to grow to $87.16 billion in 2027 at a CAGR of 13.3%.
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Major competitors in the biometric technologies market are Fujitsu Frontech Limited, Imageware Systems Inc., Suprema HQ Inc., IDEMIA, Secunet Security Networks AG.
A key trend in the biometric technologies market includes technological advancement. Major companies operating in the biometric technology market are focused on developing innovative solutions using artificial intelligence to strengthen their position in the market. For instance, in March 2022, Touchless Biometric Systems (TBS), a Switzerland-based biometric specialist and security system supplier, introduced 3D Fly, an innovative sensor offering on-the-fly user identification. The 3D Fly sensor captures a high-resolution picture of the complete hand and extracts the biometric features of up to four fingers, which results in superior recognition performance.
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The biometric technologies market is segmented -
•By Type: Contact-Based, Contact-Less, Hybrid
•By Offering: Hardware, Software
•By Authentication Type: Single-Factor Authentication, Multi-Factor Authentication
•By Application: Face, Hand Geometry, Voice, Signature, Iris, Automated Fingerprint Identification System (AFIS), Non-Automated Fingerprint Identification System (AFIS), Other Applications
•By Vertical: Government, Consumer Electronics, Military and Defense, Healthcare, Banking and Finance, Travel and Immigration, Automotive, Security, Other Verticals
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the biometric technologies market.
The Business Research Company's "Global Biometric Technologies Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biometric Technologies Market Include:
1. Executive Summary
2. Biometric Technologies Market Characteristics
3. Biometric Technologies Market Trends And Strategies
4. Biometric Technologies Market - Macro Economic Scenario
5. Biometric Technologies Market Size And Growth
……
26. Africa Biometric Technologies Market
27. Biometric Technologies Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biometric Technologies Market
29. Biometric Technologies Market Future Outlook and Potential Analysis
30. Appendix
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