Biometric Authentication & Identification Market Size was valued at USD 32.1762 Billion in 2023. The Biometric Authentication & Identification market industry is projected to grow from USD 36.71 Billion in 2024 to USD 92.4314 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.23% during the forecast period (2024 - 2032). The increasing use of biometric systems in consumer gadgets and automobiles is the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR is being driven by the increasing use of biometric systems in consumer gadgets and automobiles. The key drivers impacting market growth are the increased use of biometric technology in numerous sectors and the rising demand for authentication, identity, security, and surveillance solutions in a wide range of application domains. However, the high costs associated with biometric systems and misconceptions and lack of knowledge about them pose substantial obstacles to the market's growth.
Fraud and security breaches are reduced when comparing biometric technologies to more traditional methods like employing tokens and passwords. A biometric system uses a reader, related software, and a database to compare fingerprints, providing high security and accuracy. The e-commerce industry's growing adoption of the technology for secure payments is another factor contributing to the predicted growth of biometric technology during the projection period. Additionally, it is anticipated that the increased use of technology for employee identification and attendance in both the public and private sectors would increase market demand.
Major players are forming alliances to broaden their activities around the world. For instance, to enable Windows 10's newest biometric authentication sign-in feature, Microsoft recently tested and validated three new compact USB fingerprint reader accessories from BIO-Key, SideTouch, SideSwipe, and EcoID. Multimodal biometric authentication methods incorporating several behavioral or physiological attributes are also expected to improve security and recognition capabilities. The coronavirus disease outbreak has also contributed to a trend toward contactless biometric systems that assess voice, posture, and facial recognition for identity validation.
The global COVID-19 outbreak has had a significant impact on businesses all around the world. Biometric technology was very useful following the pandemic. People started wearing masks during the epidemic, which made it challenging for biometric technology devices to identify the wearer. In order to improve government screening, monitoring, and protection, this led to the advancement of noncontact technology like face and iris recognition. The pandemic has aided firms in quickly mobilizing and making both short-term and long-term modifications to their business models with regard to the sales and distribution capacities of their product offerings. Thus, affecting the Biometric Authentication & Identification market revenue.
The Biometric Authentication & Identification Market segmentation, based on application includes government, consumer electronics, and commerce. The government segment dominated the market. Through a number of government-sponsored programmes for universally recognisable proof, such as biometric common IDs, biometrics support the rationale of debasement. Qualified citizens can effectively receive government benefits, reimbursements, and incentives with biometric differentiating proof while avoiding any prospective framework restrictions. Biometric technologies are frequently used by government organizations to confirm differences across international borders.
The Biometric Authentication & Identification Market segmentation, based on modality, includes market statics, and multimodal biometrics. The multimodal biometric category generated the most income. In smart city contexts, multimodal biometrics have been utilized to verify persons and make authentication simpler. To address these problems, multimodal biometric systems have gradually been developed. Multimodal biometric systems employ auxiliary features derived from dissimilar modalities.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Biometric Authentication & Identification Market segmentation, based on motility, includes fixed and mobile. The fixed category generated the most income. Everyone needs security, and numerous new technologies and advances are being used to increase security worldwide. Image recognition technology has been developed into a wide variety of security tools nowadays. Drones, surveillance cameras, and facial recognition biometric technology all improve public safety. Because it enhances users' overall experiences and gives them access to a new platform, picture recognition technology is employed in a variety of products, including gaming and retail.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Biometric authentication & identification market area will dominate this market. Initiatives integrating face, fingerprint, and eye biometrics, like the UIDAI project in India and the e-KTP electronic ID initiative in Indonesia, are also anticipated to open up new commercial prospects.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Biometric Authentication & Identification market accounts for the second-largest market share. A growing number of safety and security requirements are being satisfied by biometric technology as a result of the increased threat of terrorism on a global scale. Further, the US Biometric Authentication & Identification market held the largest market share, and the Canada Biometric Authentication & Identification market was the fastest growing market in the European region
The Europe Biometric Authentication & Identification Market is expected to grow at the fastest CAGR from 2023 to 2032. Applications of biometrics are growing in the defense and military sector in European nations as a result of the growing security concerns, helping to trace criminal activity and streamline access control in sensitive departments. Additionally, the market is expanding as biometrics technology is increasingly used to create an irrefutable audit trail and boost accountability against internal threats. Moreover, Germany Biometric Authentication & Identification market held the largest market share, and the UK Biometric Authentication & Identification market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing extensively in research and development in order to extend their product offerings, which will aid the Biometric Authentication & Identification market, grow expand. The participants in the market are also undergoing a variety of activities to extend their worldwide footprint, with important market developments including new product developments, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To grow and sustain in a competitive and rising market environment, Biometric Authentication & Identification industry must provide cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Biometric Authentication & Identification industry to benefit clients and increase the market sector. In recent years, the Biometric Authentication & Identification industry has offered some of the most significant advantages to medicine. Major players in the Biometric Authentication & Identification market, including BuiEngagable Technologies Pvt. Ltd., SIC Biometrics, Leidos Holdings Inc., NEC Corporation, IriTech Inc., Precise Biometrics, Gemalto N.V., Fulcrum Biometrics LLC, IDEMIA France SAS, Aware Inc, BioID AG, and others, are attempting to rise market demand by investing heavily in research and development operations.
Aware is a global leader in the provision of biometrics software products, solutions, and services. Financial services, business security, healthcare, human resources, citizen ID, border control, law enforcement, defense, and intelligence are all supported by the company's identity verification and management systems. Organizations may gather, organize, process, and match biometric photos and data for identification and authentication activities with the use of industry-leading Aware technology. In March 2023, In order to include Knomi, Aware, Inc.'s market-leading mobile biometric authentication framework, into the Uqoud platform, the two companies have entered a new cooperation.
NEC Corp (NEC) is a provider of information and network technology solutions. The company's product line includes software, supercomputers, personal computers, tablet terminals, aerospace systems, servers, equipment, and network systems for telecommunication carriers. It also includes storage devices, broadcasting video systems, automated teller machines, and software. Additionally, it sells electrical parts and goods such LCD displays, lithium-ion rechargeable batteries, and lighting fixtures. In November 2022, The latest multimodal biometric authentication solution from NEC Corporation, which serves as the cornerstone of its "Bio-IDiom" brand (*1) of biometric authentication, is starting to get extensive promotion.
BuiEngagable Technologies Pvt. Ltd.,
Leidos Holdings Inc.,
NEC Corporation,
IriTech Inc.,
Gemalto N.V.,
Fulcrum Biometrics LLC,
IDEMIA France SAS,
Aware Inc,
BioID AG
October 2021: In order to deploy its Automated Border Control (ABC) system to three airports in Spain for traveller biometric authentication, Thales teamed up with Inetum. Facial recognition and document verification are two of the techniques that are supposed to speed up border control and cut down on traveller wait times.
June 2021: Utilising its expertise from hundreds of global public security initiatives, Phonexia created new audio investigative software called Phoenixia Orbis. With the help of this on-site system, law enforcement organizations may quickly and effectively extract complicated insights from large amounts of audio, simplifying investigations.
Market Statistics
Multimodal Biometric
Fixed
Mobile
Government
Consumer electronics
Commerce
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 32.1762 billion |
| Market Size 2024 | USD 36.71 billion |
| Market Size 2032 | USD 92.431 billion |
| Compound Annual Growth Rate (CAGR) | 12.23% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Modality, Motility, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | BuiEngagable Technologies Pvt. Ltd., SIC Biometrics, Leidos Holdings Inc., NEC Corporation, IriTech Inc., Precise Biometrics, Gemalto N.V., Fulcrum Biometrics LLC, IDEMIA France SAS, Aware Inc, BioID AG |
| Key Market Opportunities | Rising technological advancements across end use sectors |
| Key Market Dynamics | Infusion of AI technology and rise in adoption across consumer electronics |
Biometric Authentication Identification Market Highlights:
Frequently Asked Questions (FAQ) :
The Biometric Authentication & Identification Market size was valued at USD 32.17 Billion in 2023.
The global market is projected to grow at a CAGR of 12.23% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the global market
The key players in the market are BuiEngagable Technologies Pvt. Ltd., SIC Biometrics, Leidos Holdings Inc., NEC Corporation.
The multimodal category dominated the market in 2022.
The government segment had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
