DUBAI, UAE. 23th September
2019: Biometrics Technology Market size
is expected to reach USD 59.31 billion by 2025, with a CAGR of 19.5% during the
forecast period. This technology has its applications in public, commercial and
private sectors. Biometrics is related to human characteristics which identify
fingerprint, palm veins, face recognition, hand geometry, retina for its
authorization. To avoid security breaches, this technology is applied in
various sectors and it provides high degree of security and accuracy.
To avoid security breaches, this technology is applied in
various sectors and it provides high degree of security and accuracy.
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The security concerns are anticipated to drive the market
demand over the forecast period. Biometrics technology is accessed in the
computer industry for identification and access control. To protect the most
important data, old techniques are not robust enough as a result of which this
technology is being used widely. It has applications in government offices,
border control, airports, financial institutions, healthcare industry and law
on account of which the demand is expected to increase rapidly.
Application Insights
The biometrics technology finds usage in applications such
as face recognition, hand geometry, signatures, automated fingerprint
identification systems (AFIS), voice recognition, iris, and non-AFIS. Hand
recognition is very widely used a form of application in biometrics technology.
End-Use Insights:
The demand in the government sector is expected to grow
rapidly over the forecast period to prevent issues such as illegal immigration
and identity theft. The commercial sector is anticipated to experience
increased demand on account of growing application in defense and security
end-use.
Regional Insights:
Biometrics technology is majorly used around the world to
counter the threats posed by terrorists worldwide. North America is expected to
be the major market where U.S. is the most dominant country and will grow
rapidly over the forecast period. Asia Pacific is expected to be the fastest
growing market owing to the significant demand in China and India over the
forecast period. Initiatives such as UIDAI in India which use face, fingerprint
and iris biometrics are expected to augment demand over the forecast period.
Competitive Insights:
The industry participants in the market comprise of
companies such as Precise Biometrics AB, NEC Corporation, 3M Cogent, Fujitsu
Limited, FaceFirst, Nuance Communications, and Hitachi. 3M Cognet has recently
introduced a wide range of palm print and fingerprint identification products
with innovative features.
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Market Segment:
Biometrics Technology
End-Use Outlook (Revenue, USD Million; 2014 - 2025)
• Government
• Banking and
Finance
• Consumer
Electronics
• Healthcare
• Others
Biometrics Technology
Application Outlook (Revenue, USD Million; 2014 - 2025)
• Face
• Hand Geometry
• Voice
• Signature
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