Global Next Generation Biometrics Market – Industry Trends and Forecast to 2028

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Market Analysis and Insights : Global Next Generation Biometrics Market

Next generation biometrics market is expected to reach USD 70.50 billion by 2028 witnessing market growth at a rate of 17.60% in the forecast period of 2021 to 2028. Data Bridge Market Research report on next generation biometrics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.

Biometrics systems are automated methods used on the basis of behavioural or physical features such as fingerprints, speech patterns, vein and signature patterns, facial patterns, hand measurements, and eye retina and iris to verify and authenticate a person's identity. As a common method of verifying the identity of an individual under surveillance, biometrics has emerged. The basic premise of the technology is based on the fact that every person is unique and it is possible to identify him/her by the intrinsic physical or behavioural traits.  

The growing integration of biometrics in smartphones, inclination of growth toward e-passport program, rising usages of the biometric system in criminal identification, cloud computing and e-commerce solutions, prevalence of favourable government initiatives to restrict illegal entry, rising demand of the technology as it offers a high degree of privacy, accuracy, ease of use, interoperability, and uniformity across the system, growing awareness about the benefits offered by biometrics are some of the major as well as vital factors which will likely to augment the growth of the next generation biometrics market in the projected timeframe of 2021-2028. On the other hand, increasing government funding for deploying biometric technology across various economic sectors along with rising number of application in healthcare, government, defence, and border security to commercial security, travel and immigration, and banking and finance which will further contribute by generating massive opportunities that will lead to the growth of the next generation biometrics market in the above mentioned projected timeframe.

High cost incurred in deploying the system and the risk of privacy intrusion which will likely to act as market restraints factor for the growth of the next generation biometrics in the above mentioned projected timeframe.

This next generation biometrics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on next generation biometrics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Next Generation Biometrics Market Scope and Market Size

Next generation biometrics market is segmented on the basis of component, function, technology, authentication type and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• Next generation biometrics market on the basis of component has been segmented as hardware, solutions, and services.
• Based on function, the next generation biometrics market has been segmented into contact, non-contact, and others.
• On the basis of technology, the next generation biometrics market has been segmented into fingerprint, face, iris, palm, voice, signature, DNA, and others.
• On the basis of authentication type, the next generation biometrics market has been segmented into single factor authentication, and multi-factor authentication. Single factor authentication has been further segmented into fingerprint recognition, iris recognition, palm print recognition, face recognition, vein recognition, signature recognition, voice recognition, and other biometric technologies. Other biometric technologies have been further sub segmented into DNA recognition, keystroke recognition, and Gait recognition. Multi-factor authentication has been further segmented into Biometrics combined with smart card technology, biometrics combined with pin technology, two-factor authentication, and three-factor authentication.
• Next generation biometrics has also been segmented on the basis of vertical into BFSI, military and defence, government, law enforcement, enterprises, commercial sector, residential homes, airports, healthcare, consumer electronics, and others. BFSI has been further segmented into ATM, smart card, online transaction, account enrollment, and others. Government has been further segmented into national ID, passport, driving license, and others. Military and defence has been further segmented into physical access, fake identity detection, surveillance, and others. Law enforcement has been further segmented into forensic, surveillance, criminal identification, database maintenance, and others. Enterprises have been further segmented into physical and logical access, time and attendance, and others. Commercial sector has been further segmented into surveillance, creative advertising, and others. Residential homes have been further segmented into lock, and intrusion check. Airports segment has been further segmented into identification, surveillance, and others. Healthcare has been further segmented into donor cards, patient records, and others. Consumer electronics have been further segmented into smartphones, laptops, and others.

Next Generation Biometrics Market Country Level Analysis

Next generation biometrics market is analysed and market size, volume information is provided by country, component, function, technology, authentication type and vertical as referenced above.

The countries covered in the next generation biometrics market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America will dominate the next generation biometrics market due to the increasing adoption of biometrics for authorization in the region while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the technological advancements and effective pricing of biometric devices along with government and commercial sectors are adopting biometric systems for identification of individuals.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Next Generation Biometrics Market Share Analysis

Next generation biometrics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to next generation biometrics market.  

The major players covered in the next generation biometrics market report are Safran; NEC Corporation; 3M; FUJITSU; SUPREMA.; HID Global Corporation; Fulcrum Biometrics, Inc.; Thales Group; BIO-key International; Precise Biometrics AB.; secunet Security Networks AG; Siemens; Facebanx; ValidSoft; IDEX ASA; LAFORGE OPTICAL.; neuromore co; ZKTECO CO., LTD.; HYPR Corp; B-Secur; Auraya Inc.; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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