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Biometric System Market

Biometric System Market Size, Share & Segment By Type (Contact-Based, Contact-Less, Hybrid), By Authentication Type (Single-Factor Authentication, Multi-Factor Authentication), By Technology (Hardware, Software), By Mobility (Fixed, Portable), By Industry Vertical (Government, Consumer Electronics, Military & Defense, Healthcare, Banking & Finance, Travel & Immigration, Automotive, Security, Others), and By Regions | Global Market Forecast 2022-2028

Report Id: SNS/SEMI/1599 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Biometric System Market Size was valued at USD 37.55 billion in 2021, and is expected to reach USD 96.88 billion by 2028, and grow at a CAGR of 14.5% over the forecast period 2022-2028.

Biometric systems are a type of technology that uses biological data to determine a person's identity. These technologies are frequently employed in businesses for statistical analysis of people's behavioural and physical characteristics. Biometric authentication is created by the biometric sector to demonstrate that each individual's physical and behavioural characteristics are distinct and unique. The majority of businesses employ these systems, which helps to drive the worldwide biometric system market forward. One of the key reasons for the growth of the biometric system market is the simple and unique biometric operation.

Biometric System Market Revenue Graph

MARKET DYNAMICS:

KEY DRIVERS:

  • Rise in use of biometric technology.

  • Identification application.

RESTRAINTS:

  • Significant associated cost.

  • Halt on industrial applications.

OPPORTUNITIES: 

  • Advancement in Biometric System.

  • Use of Computers and mobile Phones.

CHALLENGES: 

  • Concern about Data security.

  • Lack of technical knowledge.

IMPACT OF COVID-19: 

COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption. 

The global economy's growth pace has been slowed by the coronavirus outbreak. The COVID19 epidemic not only caused a worldwide health disaster, but it also wreaked havoc on the financial markets. Companies were obliged to shut down their operations as a result of the lockdown limitations, which severely impacted the whole supply chain. People's reliance on electronic devices and gadgets grew dramatically as they stayed largely at home. The emergence of biometric systems was aided by the increased use of electronics systems, which increased demand for biometric systems.

Several sectors changed to automation systems and heavily deployed biometric technologies in their companies during the pandemic. Even in these challenging times, increased demand for biometric systems in a variety of industries aided in maintaining consistent growth.

By Industry, Government, Consumer Electronics, Military & Defense, Healthcare, Banking & Finance, Travel & Immigration, Automotive, Security, Others are all segments of the biometrics market. Over the projection period, consumer electronics and banking and finance are expected to develop significantly. Device authentication, point-of-sale transactions, mobile banking, government IT systems, ATMs (cash machines), wearable device authentication, and pharmacy dispensing are all part of the end-use segmentation.

COMPETITIVE LANDSCAPE:

The key players in the Global Biometric System Market are NEC Corporation, Secunet Security Networks, Fujitsu Ltd., Thales SA, Aware, Gemalto Cogent, Inc, Fulcrum Biometrics, Facebanx, BIO-Key International, Cross Match Technologies, Cognitec Systems GmbH, Precise Biometrics, Safran, Crossmatch, Daon and Other.

MARKET SEGMENTATION:

BY TYPE

  • Contact-Based

  • Contact-less

  • Hybrid

BY AUTHENTICATION TYPE

  • Single-Factor Authentication

  • Multi-Factor Authentication

BY TECHNOLOGY

  • Hardware

  • Software

BY MOBILITY

  • Fixed

  • Portable

BY INDUSTRY VERTICAL

  • Government

  • Consumer Electronics

  • Military & Defense

  • Healthcare

  • Banking & Finance

  • Travel & Immigration

  • Automotive

  • Security

  • Others

Biometric System Market Segment Pie Chart

REGIONAL ANALYSIS:

The biometric system market research is conducted across many geographies, including North America, Europe, Asia-Pacific, and the rest of the globe. Because of the increased adoption of biometrics technology by security and government organisations, the North American region is expected to account for the biggest biometric system market share. The expansion of fingerprint recognition applications in the United States has accelerated the growth of the biometric system market in that country. Due to increased adoption in security objectives for protecting national treasures and for e-passport verification, the Asia-Pacific region will also grow at a high CAGR throughout the projection period.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Biometric System Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 37.55 Billion
Market Size by 2028 US$ 96.88 Billion
CAGR CAGR of 14.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Contact-Based, Contact-Less, Hybrid)
• By Authentication Type (Single-Factor Authentication, Multi-Factor Authentication)
• By Technology (Hardware, Software)
• By Mobility (Fixed, Portable)
• By Industry Vertical (Government, Consumer Electronics, Military & Defense, Healthcare, Banking & Finance, Travel & Immigration, Automotive, Security, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles NEC Corporation, Secunet Security Networks, Fujitsu Ltd., Thales SA, Aware, Gemalto Cogent, Inc, Fulcrum Biometrics, Facebanx, BIO-Key International, Cross Match Technologies, Cognitec Systems GmbH, Precise Biometrics, Safran, Crossmatch, Daon and Other.
Key Drivers • Rise in use of biometric technology.
• Identification application.
Restraints • Significant associated cost.
• Halt on industrial applications.


Frequently Asked Questions (FAQ) :

The Biometric System Market size was valued at 37.5 billion in 2021 at a CAGR of 14.5%.

The key players in the Biometric System Market are NEC Corporation, Secunet Security Networks, Fujitsu Ltd., Thales SA, Aware, Gemalto Cogent, Inc, Fulcrum Biometrics, Facebanx, BIO-Key International, Cross Match Technologies, Cognitec Systems GmbH, Precise Biometrics, Safran, Crossmatch, Daon and Other.

Significant associated cost and Halt on industrial applications are the factors limiting the Biometric System Market's expansion.

Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Global Biometric System Market Segmentation, By Type

8.1Introduction

8.2 Contact-Based

8.3 Contact-less

8.4 Hybrid

 

9. Global Biometric System Market Segmentation, By Authentication Type

9.1 Introduction

9.2 Single-Factor Authentication

9.3 Multi-Factor Authentication

9.4 Other

 

10. Global Biometric System Market Segmentation, By Technology

10.1 Introduction

10.2 Hardware

10.3 Software

10.4 Other

 

11. Global Biometric System Market Segmentation, By Mobility

11.1 Introduction

11.2 Lifting and material handling

11.3 Earth moving

11.4 Transportation

11.5 Others   

 

12. Global Biometric System Market Segmentation, By Industry Vertical

12.1 Introduction

12.2 Government

12.3 Consumer Electronics

12.4 Military & Defense

12.5 Healthcare

12.6 Banking & Finance

12.7 Travel & Immigration

12.8 Automotive

12.9 Security

12.10 Others

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

 

14 Company Profiles

14.1 Daon.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 NEC Corporation

14.3 Secunet Security Networks

14.4 Fujitsu Ltd.

14.5 Thales SA

14.6 Aware

14.7 Gemalto Cogent, Inc

14.8 Fulcrum Biometrics

14.9 Facebanx

14.10 BIO-Key International

14.11 Cross Match Technologies

14.12 Cognitec Systems GmbH

14.13 Precise Biometrics

14.14 Safran

14.15 Crossmatch

14.16 Other

 

15 Competitive Landscape

15.1 Competitive Benchmark

15.2 Market Share analysis

15.3 Recent Developments

 

16 Conclusion

 

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Secondary Research

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