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Comprehensive 2025 Biometric Technologies Market Overview: Trends, Forecasts, and Growth Drivers
Biometric Technologies Market
What Is the Expected CAGR for the Biometric Technologies Market Through 2025?
The market size for biometric technologies has experienced swift expansion in the past few years. It is projected to increase from $58.46 billion in 2024 to $65.67 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.3%. The substantial growth observed during the historic period is linked with escalating cybersecurity threats, heightened demands for security, its application in healthcare for patient identification, implementation in time and attendance systems, and use in border control and immigration measures.
What's the Projected Size of the Global Biometric Technologies Market by 2029?
Forecasts for the biometric technologies market size show a surge in the coming years, with a projected increase to $116.58 billion in 2029 at a compound annual growth rate (CAGR) of 15.4%. This projected growth is due to several factors including the surge in wearable biometric devices, incorporation within smart city initiatives, a focus on user convenience, growth in remote authentication and its application in aviation and travel security. The forecast period is expected to witness major trends such as artificial intelligence (AI) integration, growth in mobile biometrics, the adoption of multi-modal biometrics, remote authentication solutions, and the integration of blockchain for improved security.
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Top Growth Drivers in the Biometric Technologies Industry: What's Accelerating the Market?
The expanding use of biometric technologies in consumer electronics is touted to propel the biometric technology market's growth. Consumer electronics encompass electronic devices meant for purchase and usage by end-users, or consumers, for day-to-day and non-commercial or professional needs. These devices, which use biometrics, are individual products consisting of mobile devices, security systems, access-control door locks, automobile, home automation, the internet of things (IoT), and gaming consoles. Consumer electronics are progressively integrating biometric technology for enhanced safety and expanded features. As an illustration, Deloitte Touche Tohmatsu Limited, a UK-based professional services network providing global audit, consulting, tax, and advisory services, stated in February 2022 that over the past three years, global sales of consumer electronics have experienced various growth rates. Computers surged by 34%, TV sets by 12%, and smartphones by 1%. As such, the escalating use of biometric technologies in consumer electronics stimulates the biometric technology market's expansion.
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What Trends Will Shape the Biometric Technologies Market Through 2029 and Beyond?
In the biometric technologies market, one of the prevailing trends is the continuous progression of technology. Many leading companies in this market are emphasising the creation of novel solutions through the use of artificial intelligence to solidify their place in the market. An illustration of this advancement came in March 2022 when Touchless Biometric Systems (TBS), a security system supplier and biometric specialist company from Switzerland, launched an innovative sensor, the 3D Fly. This sensor is capable of creating a high resolution picture of an individual's entire hand and extracting the biometric features from up to four fingers, resulting in superior identification performance. The 3D Fly, which uses AI-supported hand recognition technology along with speedy data processing, can identify a person in a second. Users can display their hands while moving near or past the speed gate with the 3D Fly, without having to pause or decelerate.
What Are the Main Segments in the Biometric Technologies Market?
The biometric technologies market covered in this report is segmented -
1) By Offering: Hardware, Software
2) By Type: Contact-Based, Contact-Less, Hybrid
3) By Authentication Type: Single-Factor Authentication, Multi-Factor Authentication
4) By Application: Face, Hand Geometry, Voice, Signature, Iris, Automated Fingerprint Identification System (AFIS), Non-Automated Fingerprint Identification System (AFIS), Other Applications
5) By Vertical: Government, Consumer Electronics, Military And Defense, Healthcare, Banking And Finance, Travel And Immigration, Automotive, Security, Other Verticals
Subsegments:
1) By Hardware: Fingerprint Scanners, Facial Recognition Cameras, Iris Scanners, Palm And Vein Recognition Devices, Biometric Terminals And Readers
2) By Software: Biometric Authentication Software, Identity Management Solutions, Biometric Data Analytics Software, Integration And Middleware Software
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Which Top Companies are Driving Growth in the Biometric Technologies Market?
Major companies operating in the biometric technologies market include Fujitsu Frontech Limited, Imageware Systems Inc., Suprema HQ Inc., IDEMIA Group, Secunet Security Networks AG, Thales S.A., BIO-key International, Nippon Electric Company Limited Corporation, Precise Biometrics, Aware Inc., Cognitec Systems GmbH, Daon Inc., M2SYS Technology, 3M Company, DERMALOG Identification Systems GmbH, Assa Abloy AB, Fulcrum Biometrics LLC, Facebanx Ltd., Integrated Biometrics LLC, Accu-Time Systems, East Shore Technology, EveVerify, Suprema Inc., Hitachi, FaceFirst, Nuance Communications, BI2 Technologies, Biometix Pty Ltd, Fingerprint Cards, BTBL Co. Ltd
Which Regions Will Dominate the Biometric Technologies Market Through 2029?
Asia-Pacific was the largest region in the biometric technologies market share in 2024. The regions covered in the biometric technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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