Global Biometrics Market: Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Top Players

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Biometrics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $83.23 billion In 2028 At A CAGR Of 16.0% :

The biometrics market size has grown rapidly in recent years. It will grow from $39.12 billion in 2023 to $45.89 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to security concerns, government initiatives, rising cyber threats, increasing integration in smart devices, growing acceptance.

The biometrics market size is expected to see rapid growth in the next few years. It will grow to $83.23 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to emergence of biometric-as-a-service (BaaS), expansion in healthcare, border control and immigration, biometrics in financial services. Major trends in the forecast period include AI and machine learning integration, rapid technological advancements, mobile biometrics expansion, emphasis on data privacy and regulation.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=6903&type=smp

Biometrics Market Major Segments
The biometrics market covered in this report is segmented -

1) By Biometric Type: IRIS Recognition, Hand Geometry, Facial Recognition, Signature Verification, Fingerprint, Voice Recognition, Palm Vein
2) By Functionality: Contact, Non-contact, Combined
3) By End-User: Government, Defense Services, Banking and Finance, Consumer Electronics, Healthcare, Commercial Safety and Security, Transport/Visa/Logistics, Other End Users

Key Driver - Biometric Revolution In Consumer Electronics For Enhanced Authentication And Identification

The increasing use of biometric technology in consumer electronics for authentication and identification applications is driving the biometrics market. Biometric sensors are becoming a more common security feature in smartphones and other gadgets, and the low cost of biometric technology allows manufacturers to incorporate them into a larger range of goods. Consumer electronic devices such as access door locks, security devices, home automation, IoT, cars, game consoles, and mobile devices are increasingly utilizing biometric technology to enhance the security of the devices. Fingerprint, face, and voice recognition are becoming more popular methods of authenticating an individual for access and payments. They are faster, simpler, and more secure than standard credentials or PINs, which are difficult to recall and easy to steal. According to a survey conducted by Visa in May 2022, 86% of the consumers are interested in using biometrics to authenticate their identity for making payments, 70% of the consumers responded that biometrics are easier to use, and 46% believe they are more secure than passwords or PINs. Therefore, the increasing use of biometric technology in consumer electronics for authentication and identification applications is expected to boost the biometrics market during the forecast period.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=6903&type=smp

Prominent Trend - Biometrics Forges Strategic Partnership With Paravision To Deliver Advanced Face And Fingerprint Biometric Solutions

Strategic partnership is a key trend gaining popularity in the biometrics market. The companies operating in the biometrics market are focusing on entering a strategic partnership with technology to expand their product development activities and business reach. In August 2021, NEXT Biometrics, a Norway-based company that delivers high-security fingerprint sensors to device and product manufacturers, entered into a partnership agreement with Paravision to provide dual authentication techniques to clients who require face and fingerprint biometric solutions. Paravision is a US-based computer vision firm that specializes in face recognition.

Biometrics Market Players
Major companies operating in the biometrics market report are Hitachi Corporation, Siemens AG, 3M Company, Fujitsu Limited, NEC Corporation, Thales Group, Leidos Holdings Inc., IrisGuard Ltd., NEXT Biometrics Group ASA, Nuance Communications Inc., Advent International, GB Group plc, M2SYS Technology, Fingerprint Cards AB, Suprema Inc., Paravision, BioEnable Technologies Pvt. Ltd., Cognitec Systems GmbH, Authentix, Aware Inc., Assa Abloy AB, Innovatrics s.r.o., Biokey International, FaceFirst Inc., BioID AG, Crossmatch Technologies Inc., ImageWare Systems Inc., Phonexia SRO, IDEX Biometrics ASA, S.I.C. Biometrics Global Inc.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/biometrics-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the biometrics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biometrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biometrics Market Report Structure
3. Biometrics Market Trends And Strategies
4. Biometrics Market - Macro Economic Scenario
5. Biometrics Market Size And Growth
…..
27. Biometrics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.