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Biometrics & Identity Management Market worth $71.27 billion by 2030, growing at a CAGR of 9.84% - Exclusive Report by 360iResearch
Biometrics & Identity Management Market | 360iResearch
The Global Biometrics & Identity Management Market to grow from USD 33.63 billion in 2022 to USD 71.27 billion by 2030, at a CAGR of 9.84%.
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The biometrics and identity management market comprises technologies and services that authenticate individuals based on one or more intrinsic physical or behavioral traits. This includes fingerprint recognition, face recognition, iris scanning, voice recognition, other modalities, and identity management solutions designed to manage the information, security, and verification processes associated with biometric identifiers. Biometric technologies are significant to various sectors, including banking, finance, healthcare, government agencies, law enforcement, travel and immigration, and consumer electronics. For identity management, the uses include access control, identity verification for government services, and personal identity verification for mobile devices. Several factors influence the growth, including the rising focus on security and the need for reliable authentication systems due to increased security breaches and identity theft. Government initiatives for implementing biometrics in public safety and national identification projects, advancements in artificial intelligence and machine learning for improved accuracy, and the growing adoption of mobile payment solutions contribute to market growth. The biometrics and identity management market is growing with opportunities, especially integrating AI and IoT technologies to develop more sophisticated biometric systems. Cloud-based biometric solutions are becoming increasingly popular due to their scalability and ease of integration. The drive for contactless authentication methods post-pandemic has also opened new avenues, especially in industries like travel and healthcare.
The Americas region, particularly North America, has been at the forefront of adopting biometrics and identity management solutions. With a strong emphasis on security and the presence of leading market players, the region extensively employs biometrics for various applications such as law enforcement, border control, and civilian use cases. The United States has initiated numerous government programs, such as the Next Generation Identification (NGI) system, leveraging biometric technology for identification and background checks. Latin America is also progressing, with Brazil and Mexico leading in biometric deployments for elections and national ID programs. Private sector uptake is substantial, too, with biometric-enabled devices proliferating across banking and consumer electronics industries. The EMEA region presents a diverse landscape for biometrics and identity management. In Europe, GDPR regulations have shaped the deployment and use of biometrics, focusing on data protection and privacy. European countries use biometrics primarily for border control and national identity schemes. The Middle East is rapidly increasing the uptake of biometrics in applications ranging from smart city initiatives to law enforcement and border security. The UAE and Saudi Arabia are notable for their ambitious identity management programs. The Asia-Pacific (APAC) region is one of the fastest-growing biometrics and identity management markets due to its large population base and booming economies. Countries like China, India, and Japan are key drivers with national initiatives such as China's social credit system, India's Aadhaar biometric database, and Japan's My Number system. The APAC region is known for its willingness to adopt new technologies, leading to a rapid expansion of biometric applications in mobile payments, smart banking, and public security. Different countries address data privacy and regulation in diverse ways, influencing the pace and nature of biometric technology adoption.
Market Segmentation & Coverage:
This research report categorizes the Biometrics & Identity Management Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Data Storage, Input Extraction, Quality Assessment, and Transmission & Signal Processing. The Input Extraction is further studied across Detectors and Sensors. The Transmission & Signal Processing commanded largest market share of 36.86% in 2022, followed by Input Extraction.
Based on System, market is studied across Behavioural Biometrics and Physiological Biometrics. The Physiological Biometrics is further studied across Face Recognition, Fingerprint, Iris Recognition, Palm Vein, and Retina. The Physiological Biometrics commanded largest market share of 76.42% in 2022, followed by Behavioural Biometrics.
Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 73.77% in 2022, followed by On-Premise.
Based on Application, market is studied across Banking & Financial Institutions, Border Control & Airport Security, Consumer Electronics, Enterprise, Government & Law Enforcement, Healthcare, and Retail & Commerce. The Retail & Commerce commanded largest market share of 21.24% in 2022, followed by Banking & Financial Institutions.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 36.68% in 2022, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Biometrics & Identity Management Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Biometrics & Identity Management Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Biometrics & Identity Management Market, highlighting leading vendors and their innovative profiles. These include ACTATEK (UK) Ltd., Allegion PLC, Apple Inc., Assa Abloy AB, Aurora Computer Services Ltd., Aware, Inc., CardLogix Corporation, Credence ID, LLC, Diamond Fortress Technologies, Inc., EKEMP INT'L Ltd., ePortID LLC, Facephi Biometría, S.A., FaceTec, Inc., Fujitsu Limited, Herta Security, IDEMIA France SAS, Imprivata, Inc., Interbio, Iris ID Systems, Inc., Iritech, Inc., Johnson Control International PLC, M2sys Technology LLC, NEC Corporation, Precise Biometrics AB, RSA Security LLC, Securtime, SekureID, Sensory Inc., Thales Group, Unisys Corporation, Wow Effect Communications, and Xator Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Biometrics & Identity Management Market, by Component
7. Biometrics & Identity Management Market, by System
8. Biometrics & Identity Management Market, by Deployment
9. Biometrics & Identity Management Market, by Application
10. Americas Biometrics & Identity Management Market
11. Asia-Pacific Biometrics & Identity Management Market
12. Europe, Middle East & Africa Biometrics & Identity Management Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Biometrics & Identity Management Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Biometrics & Identity Management Market?
3. What is the competitive strategic window for opportunities in the Biometrics & Identity Management Market?
4. What are the technology trends and regulatory frameworks in the Biometrics & Identity Management Market?
5. What is the market share of the leading vendors in the Biometrics & Identity Management Market?
6. What modes and strategic moves are considered suitable for entering the Biometrics & Identity Management Market?
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