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Biometric System Market

Biometric System Market Forecasts to 2028 – Global Analysis By Type (Contact-Less, Contact-Based), Offering (Software, Hardware), Mobility, End User, and By Geography

4.8 (35 reviews)
Published: May 2022 ID: SMRC21440
4.8 (35 reviews)
Published: May 2022 ID: SMRC21440

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Biometric System Market is accounted for $37.60 billion in 2021 and is expected to reach $106.92 billion by 2028 growing at a CAGR of 16.1% during the forecast period. Biometric systems are used for security identification and authentication. These systems can recognize a user and then correctly prove whether the identified user holds the identity they claim to have. Biometric security systems are highly being deployed globally as automated security techniques.

Market Dynamics:

Driver:

Rising demand for the consumer electronics industry


Manufacturers of consumer electronics are focusing on implementing advanced features and functionalities into their products to attract customers and expand their client base. As consumers adopt highly advanced connected devices and digital technologies to process critical information, it creates security concerns among end-users. Biometric technology-based smartphones are increasingly being used to secure credentials for accessing buildings, doors, and IT systems, thereby delivering a better experience to users and presenting various opportunities to providers of portable access control solutions.

Restraint:

High deployment Cost


The high cost of biometric solution components, and the high cost of implementation, hampers demand from private and public corporations for biometric systems.  A biometric device’s price will depend on the brand, registration, waterproofing, sensor design, etc. A fingerprint recognition device’s cost will rely heavily on the type of sensor used in that. Production of the advanced biometric system involves high capital investment in R&D, production, installation, maintenance, and shipping.

Opportunity:

Advances in biometric solutions designed for authentication and identification applications


Advancements in sensing technologies and the widespread use of devices such as computers and mobile phones offer new opportunities for capturing the physiological and behavioral traits of human beings and analyzing related data for biometric authentication. Machine learning and artificial intelligence technology-powered biometric systems are bringing new possibilities to effectively identify any unusual behavior and provide an additional layer of authentication, if necessary. Biometric solutions with multi-factor authentication are gaining traction to avoid possible data breaches.

Threat:

Data security concerns


Biometric systems are used to maintain and protect the identity of civilians. Citizens consider privacy as one of the most important rights, and there is a common perception that biometric systems invade these rights due to their private information being known to sources. Such information is said to be misused by country rivals or criminal prosecutors for unfair practices and manipulating public opinion. Misuse of the lost information may lead to class action lawsuits or regulatory fines against the company that leaked the data.
 
The government segment is expected to be the largest during the forecast period

The government segment is estimated to have a lucrative growth as biometrics assists in dismissing corruption by government-deployed projects for large-scale identification. Through biometric identification, government subsidies, rebates, and incentives that include rations and others can be easily offered to the entitled citizens while avoiding any possible loopholes in the system.

The contact-based segment is expected to have the highest CAGR during the forecast period

The contact-based segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the growing use of contact-based biometrics systems to protect national borders and support e-governance programs. The contact-based biometric is related to the dynamic manipulation of objects in the surrounding environment, such as fingerprints, palm recognition, etc.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to growing government initiatives for implementing biometrics, and rising attention of governments on offering cost-effective, efficient, and safe services to their citizens encouraging the adoption of biometrics. Nationwide identification systems, including the e-passport and identity card programs, are provided on biometrics-based technology.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the presence of prominent biometric system manufacturers, technological advancements, increased awareness among the masses regarding the use of biometric systems for security purposes for protecting national heritage and for e-passport verification and lowered the cost of devices based on these technologies.

Key players in the market

Some of the key players profiled in the Biometric System Market include Stanley Black & Decker, Inc., ZETES, Veridos GmbH, Thales Group, secunet Security Networks AG, Precise Biometrics, Onfido, NEC Corporation, Innovatrics, IDEMIA, Fujitsu, Facetec, Inc, Daon, Inc., Cognitec Systems GmbH, Beijing Megvii Technology Co., Ltd., and Aware Inc.    
Key Developments:

In Jan 2022, IDEMIA collaborated with Microsoft to deliver next-generation eSIM and connectivity solutions for consumer and M2M/IoT devices. The collaboration will bring together IDEMIA’s advanced connectivity solutions and longstanding industry expertise with Microsoft’s trusted cloud platform to improve support of eSIM services around the world.

In July 2021, Thales launched a new voice biometric solution which is part of Thales Trusted Digital Identity Service Platform for onboarding and authentication. It meets the growing demand from mobile operator call centres to fight identity fraud whilst providing a seamless customer experience.
 
Types Covered:
• Hybrid
• Contact-Less
• Contact-Based
 
Offerings Covered:
• Software
• Hardware
 
Mobilities Covered:
• Fixed
• Portable
 
Authentication Types Covered:
• Multi-Factor Authentication
• Single-Factor Authentication
 
End Users Covered:
• Travel & Immigration
• Military & Defense
• Healthcare
• Government
• Consumer Electronics
• Banking, Financial Services and Insurance (BFSI)
• Automotive
• Security
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary            
               
2 Preface          
   
 2.1 Abstract            
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation           
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 End User Analysis           
 3.7 Emerging Markets           
 3.8 Impact of Covid-19           
              
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
               
5 Global Biometric System Market, By Type         

 5.1 Introduction           
 5.2 Hybrid            
 5.3 Contact-Less           
 5.4 Contact-Based           
              
6 Global Biometric System Market, By Offering         
 6.1 Introduction           
 6.2 Software            
 6.3 Hardware           
  6.3.1 Cameras           
  6.3.2 Scanners           
  6.3.3 Fingerprint Readers          
              
7 Global Biometric System Market, By Mobility         

 7.1 Introduction            
 7.2 Fixed            
 7.3 Portable            
              
8 Global Biometric System Market, By Authentication Type        
 8.1 Introduction           
 8.2 Multi-Factor Authentication          
  8.2.1 Pin with Biometrics          
  8.2.2 Smart Card with Biometrics         
  8.2.3 Multimodal Biometrics         
   8.2.3.1 Three-Factor Authentication        
   8.2.3.2 Two-Factor Authentication        
 8.3 Single-Factor Authentication          
  8.3.1 Fingerprint Recognition         
   8.3.1.1 Non-Automated Fingerprint Identification System (AFIS)     
   8.3.1.2 Automated Fingerprint Identification System (AFIS)     
  8.3.2 Voice Recognition          
  8.3.3 Palm Print Recognition/Hand Geometry        
  8.3.4 Signature Recognition         
  8.3.5 Iris Recognition          
  8.3.6 Vein Recognition          
  8.3.7 Face Recognition          
  8.3.8 Other Biometric Technologies         
   8.3.8.1 Keystroke Recognition        
   8.3.8.2 Gait Recognition          
   8.3.8.3 DNA Recognition         
              
9 Global Biometric System Market, By End User         

 9.1 Introduction           
 9.2 Travel & Immigration          
 9.3 Military & Defense           
 9.4 Healthcare           
 9.5 Government           
 9.6 Consumer Electronics          
 9.7 Banking, Financial Services and Insurance (BFSI)        
 9.8 Automotive           
 9.9 Security            
  9.9.1 Utility           
  9.9.2 Home/Residential          
  9.9.3 Entertainment          
  9.9.4 Commercial          
              
10 Global Biometric System Market, By Geography         
 10.1 Introduction           
 10.2 North America           
  10.2.1 US           
  10.2.2 Canada           
  10.2.3 Mexico            
 10.3 Europe            
  10.3.1 Germany           
  10.3.2 UK           
  10.3.3 Italy           
  10.3.4 France           
  10.3.5 Spain           
  10.3.6 Rest of Europe          
 10.4 Asia Pacific           
  10.4.1 Japan            
  10.4.2 China           
  10.4.3 India           
  10.4.4 Australia           
  10.4.5 New Zealand          
  10.4.6 South Korea          
  10.4.7 Rest of Asia Pacific          
 10.5 South America           
  10.5.1 Argentina          
  10.5.2 Brazil           
  10.5.3 Chile           
  10.5.4 Rest of South America         
 10.6 Middle East & Africa          
  10.6.1 Saudi Arabia          
  10.6.2 UAE           
  10.6.3 Qatar           
  10.6.4 South Africa          
  10.6.5 Rest of Middle East & Africa         
              
11 Key Developments            
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 11.2 Acquisitions & Mergers          
 11.3 New Product Launch          
 11.4 Expansions           
 11.5 Other Key Strategies          
              
12 Company Profiling            
 12.1 Stanley Black & Decker, Inc.          
 12.2 ZETES            
 12.3 Veridos GmbH           
 12.4 Thales Group           
 12.5 secunet Security Networks AG          
 12.6 Precise Biometrics           
 12.7 Onfido            
 12.8 NEC Corporation           
 12.9 Innovatrics           
 12.10 IDEMIA            
 12.11 Fujitsu            
 12.12 Facetec, Inc           
 12.13 Daon, Inc.           
 12.14 Cognitec Systems GmbH          
 12.15 Beijing Megvii Technology Co., Ltd.         
 12.16 Aware Inc            


List of Tables             
1 Global Biometric System Market Outlook, By Region (2020-2028) ($MN)        
2 Global Biometric System Market Outlook, By Type (2020-2028) ($MN)       
3 Global Biometric System Market Outlook, By Hybrid (2020-2028) ($MN)       
4 Global Biometric System Market Outlook, By Contact-Less (2020-2028) ($MN)      
5 Global Biometric System Market Outlook, By Contact-Based (2020-2028) ($MN)      
6 Global Biometric System Market Outlook, By Offering (2020-2028) ($MN)      
7 Global Biometric System Market Outlook, By Software (2020-2028) ($MN)      
8 Global Biometric System Market Outlook, By Hardware (2020-2028) ($MN)      
9 Global Biometric System Market Outlook, By Cameras (2020-2028) ($MN)      
10 Global Biometric System Market Outlook, By Scanners (2020-2028) ($MN)      
11 Global Biometric System Market Outlook, By Fingerprint Readers (2020-2028) ($MN)     
12 Global Biometric System Market Outlook, By Mobility (2020-2028) ($MN)      
13 Global Biometric System Market Outlook, By Fixed (2020-2028) ($MN)       
14 Global Biometric System Market Outlook, By Portable (2020-2028) ($MN)      
15 Global Biometric System Market Outlook, By Authentication Type (2020-2028) ($MN)     
16 Global Biometric System Market Outlook, By Multi-Factor Authentication (2020-2028) ($MN)     
17 Global Biometric System Market Outlook, By Pin with Biometrics (2020-2028) ($MN)     
18 Global Biometric System Market Outlook, By Smart Card with Biometrics (2020-2028) ($MN)     
19 Global Biometric System Market Outlook, By Multimodal Biometrics (2020-2028) ($MN)     
20 Global Biometric System Market Outlook, By Single-Factor Authentication (2020-2028) ($MN)     
21 Global Biometric System Market Outlook, By Fingerprint Recognition (2020-2028) ($MN)     
22 Global Biometric System Market Outlook, By Voice Recognition (2020-2028) ($MN)       
23 Global Biometric System Market Outlook, By Palm Print Recognition/Hand Geometry (2020-2028) ($MN)   
24 Global Biometric System Market Outlook, By Signature Recognition (2020-2028) ($MN)     
25 Global Biometric System Market Outlook, By Iris Recognition (2020-2028) ($MN)      
26 Global Biometric System Market Outlook, By Vein Recognition (2020-2028) ($MN)      
27 Global Biometric System Market Outlook, By Face Recognition (2020-2028) ($MN)      
28 Global Biometric System Market Outlook, By Other Biometric Technologies (2020-2028) ($MN)    
29 Global Biometric System Market Outlook, By End User (2020-2028) ($MN)      
30 Global Biometric System Market Outlook, By Travel & Immigration (2020-2028) ($MN)     
31 Global Biometric System Market Outlook, By Military & Defense (2020-2028) ($MN)     
32 Global Biometric System Market Outlook, By Healthcare (2020-2028) ($MN)      
33 Global Biometric System Market Outlook, By Government (2020-2028) ($MN)      
34 Global Biometric System Market Outlook, By Consumer Electronics (2020-2028) ($MN)     
35 Global Biometric System Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2020-2028) ($MN)   
36 Global Biometric System Market Outlook, By Automotive (2020-2028) ($MN)      
37 Global Biometric System Market Outlook, By Security (2020-2028) ($MN)       
38 Global Biometric System Market Outlook, By Utility (2020-2028) ($MN)       
39 Global Biometric System Market Outlook, By Home/Residential (2020-2028) ($MN)      
40 Global Biometric System Market Outlook, By Entertainment (2020-2028) ($MN)      
41 Global Biometric System Market Outlook, By Commercial (2020-2028) ($MN)      
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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