Market Highlights:
The global biometrics authentication and identification market is growing steadily and is expected to capture a healthy CAGR over the forecast period of 2016-2027, reveals a research report by Market Research Future (MRFR). Biometrics are technological systems that are used to identify a person uniquely by evaluating one or more biological distinguishing traits such as fingerprints, hand geometry, retina, iris patterns, voice waves, DNA, and signature. They offer the advantages of high-end identification management as they are accurate, accountable, easy and safe to use, user-friendly, secure, convenient, and scalable. This growth can be attributed to rising global security and safety concerns, massive demand for security protocols, and adoption of biometrics in various industry verticals such as banking, financial institutions, homeland security, government, etc.
The growth of physical security breaches over the past few years has paved the way for the market growth of biometrics market. Biometrics find novel use in government projects such as passport and visas and also serves as a means for unique identification and authentication purposes. The growing need for enhanced security for access of confidential data in enterprises has necessitated the integration of biometrics in security systems and is a major driver of the market. The shift in trend from fixed biometric devices to mobile biometrics devices and rise in demand for portable biometrics and touch-less biometrics devices has also aided in market expansion. The proliferation of smartphones, growing governmental support, increased adoption in banking and healthcare sector and use of biometrics in smartphone technology such as iPhone fingerprint locking and Retina Scanning and other identification features are ensuring the fast growth of the market.
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Major Key Players
3M Cogent,
Anviz Global,
Apple INC,
Aware INC,
Bio-Key International INC,
Cognitec Systems,
Crossmatch Technologies,
Diamond Fortress Technologies,
Fingerprint Cards AB, Fujitsu Global, Synaptics INC, etc
Industry Updates
• In June 2018, Samsung SDS announced the integration of IDVoice and IDBehave solutions from New York-based ID R&D to its biometric platform. IDvoice is a voice recognition authentication system while IDBehave is a behavioral biometric system.
• In June 2018, Nuance Communications introduced biometric caller identification to the Czech Republic. The bank is the first one to use voice authentication for customer identification.
Regional Analysis
The key markets of the global biometric authentication and identification market are North America, Europe, Asia-Pacific, and the Middle East & Africa. North America is the leader in the biometric authentication and identification market followed by Europe and Asia-Pacific. Considerable investments in security systems at airports and borders by customs and border protection (CBP), has led the market for biometric systems in North America. Asia-Pacific region is expected to exhibit rapid growth over the forecast period owing to ID enrollment projects initiated in countries such as China and India. The Middle East & Africa market holds a relatively smaller share of the market but is expected to grow at a fast rate over the forecast period.
Segmentation
The global biometric authentication and identification market has been segmented based on authentication type, motility, component, and application. By authentication type, the market has been segmented into single factor authentication and multi-factor authentication. The single factor authentication segment is further segmented into Fingerprint Recognition, Iris Recognition, Palm Print Recognition, Face Recognition, Vein Recognition, and Signature Recognition. The multi-factor authentication segment is further segmented into Biometrics combined with Smart Card Technology, and Biometrics combined with Pin Technology. By motility, the market has been segmented into fixed and mobile. By component, the market has been segmented into hardware which comprises of Fingerprint readers, Scanners, and Camera. By application, the market has been segmented into Enterprise, Banking and financial institutions, Government, Healthcare, Consumer electronics and Retail and commerce among others.
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