Biometrics Industry Analysis – Biometrics Market Growth, Forecasts, and Industry Reports Market Analysis

Biometrics Market Size

The size of the global biometrics market will increase more than USD 24 billion between 2018-2023, accelerating at a CAGR of over 15% during the forecast period. This growth in market size will be attributed to the rapid increase in the demand for mobile biometrics in several industries like healthcare, BFSI, and transportation, as well as the increasing government initiatives for implementing biometrics. The increasing focus of governments offering cost-effective, efficient, and safe services to their citizens is encouraging the adoption of biometrics, particularly in emerging economies.

The biometrics market will see strong growth, particularly in North America due to constant demand from the government sector. The government segment accounts for nearly 40% of the market share in this region, holding a strong lead over the healthcare, transportation, BFSI, and retail segments. We forecast the biometrics market in North America to grow at a CAGR of 12% between 2016-2020.

Numerous emerging trends are expected to gain traction during the forecast period and will positively impact the global biometrics market. These trends include the continued development of new products, the rising popularity of face and voice recognition biometrics in the BFSI sector, and technological advancements in biometrics. Major biometrics players are investing significantly in bringing advancements to their biometric solution. For example, the emergence of in-display fingerprint sensors is a recent notable advancement in this field. Qualcomm Technologies recently announced the launch of their Qualcomm 3D Sonic Sensor, which is an in-display fingerprint sensor based on ultrasonic imaging techniques. Other insights provided within our biometrics market reports include:

Biometrics Market Insights

  • Increasing cases of identity theft on websites, mobile devices, and apps are compelling end-users to implement impenetrable secure solutions such as biometrics in mobile devices, fueling mobile biometrics market growth.
  • Electronic prescribing, diagnosis and treatment, coding, billing in healthcare, and connected cars equipped with the internet and wireless services are the major segments for voice recognition biometrics applications and are driving the biometric voice recognition market.
  • Industries such as banking and insurance have to ensure that their security levels are high so that they can prevent instances of fraudulent activities and hacking losses. These are the major end-user industries for keystroke biometrics and multi-modal biometrics for advanced security.
  • Education institutions are using biometric technologies such as finger vein and fingerprint recognition to ensure authorized access to various online and offline applications. Multi-modal biometrics are being used to control unauthorized access to restricted areas such as exam control rooms and laboratories.

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Biometrics Market Share and Segmentation

Within our biometrics industry research, we provide deep insights into the market landscape, its segments, and their market share. Our biometrics market segmentation research offerings include:

  • Physiological Biometrics Market
    • Face biometrics market
    • Fingerprint biometrics market
      • Minutiae-basedd finger biometric market
      • Correlation based finger biometric market
      • Ridge feature based finger biometric market
    • Hand geometry biometrics market
    • Eye biometrics market
      • Iris biometrics system market
        • Iris scanner market
      • Retina biometrics system market
    • Ear biometrics market
    • DNA biometrics market
    • Odor biometrics market
    • Skin biometrics market
    • Vein biometrics market
      • Palm vein biometrics market
      • Finger vein biometrics market
      • Eye vein biometrics market
    • Voice biometrics market
      • Isolated voice biometrics system
      • Continuous biometrics system
      • Speaker-dependent biometrics system
      • Speaker-independent biometrics system
  • Behavioral Biometrics Market
    • Gait biometrics market
    • Lip motion biometrics market
    • Signature biometrics market
    • Keystroke biometrics market
    • EEG and ECG biometrics market
    • Blinking pattern biometrics market
    • Text style biometrics market

We at Technavio, with our comprehensive understanding of the biometrics market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our biometrics market reports offer the following insights:

  • Biometrics market growth
  • Biometrics market share
  • Biometrics market size
  • Biometrics market growth
  • Biometrics market forecast
  • Biometrics market trends
  • Biometrics industry statistics

Biometric Industry Research Portfolio – Report Catalog

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