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Global Biometrics Market: Deep Company Profiling of Leading Players 2020-2024

Biometrics market is increasing adoption of technology in the security vertical and the confluence of organizations to meet authentication standards has added a renewed dynamism. With the biometrics technology having marked its presence across the security landscape, it is now rapidly penetrating its way into consumer, government, and industrial systems. Based on the concept of statistical analysis of biological data, the biometrics technology is proclaimed to be less prone to cybercrimes and hacking.

Recently, Mexico’s National Banking and Security Commission has announced a new regulation in the country that would require all the banks to deploy fingerprint scanners for the clients by 2018. Another instance is of FacePhi Biometria, where the company is seen signing deals to bring its selfie-based authentication system especially in the financial sector. Similar moves are likely to materialize in the coming years, in turn, propelling biometrics market.

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Biometrics market will exceed USD 50 billion by 2024, having been pegged at USD 12 billion in 2016. High acceptance of biometrics in various verticals such as mobile banking and other financial services has further favored the growth of biometrics market. As the cybercrimes and identification errors are captivating the industry verticals, there has been a significant upsurge in the adoption of biometrics to ensure data security and privacy.

Lately, there has been a plethora of fraudulent cases and data breaches in the financial sector. JP Morgan Chase for instance was one of the major victim, where the hackers accessed the critical data of approximately 83 million customers. Such potential threats of data breach have led to greater demand for biometrics technologies in the banking & finance sectors.

As per the report, biometrics industry share is set to gain lucrative avenues from banking and finance sector, projected to register a healthy growth rate of 22% from 2017-2024. Apart from this, biometrics industry is also likely to demonstrate noticeable growth in healthcare, transportation, consumer electronics, and defense services. In fact, the transportation application within biometrics market is estimated to be the highest revenue contributor in the coming seven years.

Top Key Player Are:

  • 3M Cogent
  • BIO-key International
  • CMI Time Management
  • David-Link
  • EyeVerify
  • FaceFirst
  • Green Bit Biometric Systems
  • Iris ID
  • Lockheed Martin
  • MorphoTrust
  • NEC Corporation
  • Pradotec
  • Smartmatic
  • ViRDI
  • ZKTeco

With the significant expansion of its vast application arena, it is quite evident that biometrics technology is gaining lot of popularity as it works on identification of individuals’ biological information. This technology uses physiological and/or behavioral characteristics of people to authenticate their identity. As every individual is unique, this technology uses separate identifiers such as face recognition, fingerprint, palm veins, hand geometry, DNA, iris recognition, voice and retina.

Many companies have adopted these techniques to improve the security features. For instance, Samsung and LG have incorporated iris scanners into their smartphones on a wider scale. The voice recognition technology is also seen gaining considerable traction in the mobile banking and commercial sector. The voice recognition segment of biometrics market is expected to register a CAGR of 22% over 2017-2024, claim estimates.

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List of Charts & Figures from Biometrics Market Report:

FIG 1    Industry segmentation

FIG 2    Industry landscape, 2013 – 2024 (USD Million)

FIG 3    Industry ecosystem analysis

FIG 4    Growth potential analysis

FIG 5    Porter’s analysis

FIG 6    PESTEL analysis

FIG 7    Biometrics market share by product, 2016 & 2024

FIG 8    Global biometrics market (USD Million), 2013 – 2024

FIG 9    Global facial recognition market (USD Million), 2013 – 2024

FIG 10    Global hand geometry market (USD Million), 2013 – 2024

FIG 11    Global voice recognition market (USD Million), 2013 – 2024

FIG 12    Global iris market (USD Million), 2013 – 2024

FIG 13    Global AFIS market (USD Million), 2013 – 2024

FIG 14    Global non-AFIS market (USD Million), 2013 – 2024

FIG 15    Global signature market (USD Million), 2013 – 2024

FIG 16    Global others market (USD Million), 2013 – 2024

FIG 17    Global government market (USD Million), 2013 – 2024

FIG 18    Global defense services market (USD Million), 2013 – 2024

FIG 19    Global banking & finance market (USD Million), 2013 – 2024

FIG 20    Global consumer electronics market (USD Million), 2013 – 2024

FIG 21    Global healthcare market (USD Million), 2013 – 2024

FIG 22    Global transport/visa/logistics market (USD Million), 2013 – 2024

FIG 23    Global others market (USD Million), 2013 – 2024

FIG 24    North America biometrics market by product (USD Million), 2013 – 2024

FIG 25    North America biometrics market by application (USD Million), 2013 – 2024

FIG 26    U.S. biometrics market by product (USD Million), 2013 – 2024

FIG 27    U.S. biometrics market by application (USD Million), 2013 – 2024

FIG 28    Canada biometrics market by product (USD Million), 2013 – 2024

FIG 29    Canada biometrics market by application (USD Million), 2013 – 2024

FIG 30    Europe biometrics market by product (USD Million), 2013 – 2024

FIG 31    Europe biometrics market by application (USD Million), 2013 – 2024

FIG 32    Germany biometrics market by product (USD Million), 2013 – 2024

FIG 33    Germany biometrics market by application (USD Million), 2013 – 2024

FIG 34    UK biometrics market by product (USD Million), 2013 – 2024

FIG 35    UK biometrics market by application (USD Million), 2013 – 2024

FIG 36    France biometrics market by product (USD Million), 2013 – 2024

FIG 37    France biometrics market by application (USD Million), 2013 – 2024

FIG 38    Russia biometrics market by product (USD Million), 2013 – 2024

FIG 39    Russia biometrics market by application (USD Million), 2013 – 2024

FIG 40    Asia Pacific biometrics market by product (USD Million), 2013 – 2024

FIG 41    Asia Pacific biometrics market by application (USD Million), 2013 – 2024

FIG 42    China biometrics by product (USD Million), 2013 – 2024

FIG 43    China biometrics market by application (USD Million), 2013 – 2024

FIG 44    Japan biometrics market by product (USD Million), 2013 – 2024

FIG 45    Japan biometrics market by application (USD Million), 2013 – 2024

FIG 46    India biometrics market by product (USD Million), 2013 – 2024

FIG 47    India biometrics market by application (USD Million), 2013 – 2024

FIG 48    South Korea biometrics market by product (USD Million), 2013 – 2024

FIG 49    South Korea biometrics market by application (USD Million), 2013 – 2024

FIG 50    Latin America biometrics market by product (USD Million), 2013 – 2024

FIG 51    Latin America biometrics market by application (USD Million), 2013 – 2024

FIG 52    Brazil biometrics market by product (USD Million), 2013 – 2024

FIG 53    Brazil biometrics market by application (USD Million), 2013 – 2024

FIG 54    Mexico biometrics market by product (USD Million), 2013 – 2024

FIG 55    Mexico biometrics market by application (USD Million), 2013 – 2024

FIG 56    MEA biometrics market by product (USD Million), 2013 – 2024

FIG 57    MEA biometrics market by application (USD Million), 2013 – 2024

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