Global Biometric System Market – Industry Trends and Forecast to 2031

Global Biometric System Market, By Component (Hardware and Software), Authentication Type (Single Factor Authentication and Multifactor Authentication), Biometric Type (IRIS Recognition, Hand Geometry, Facial Recognition, Signature Verification, Fingerprint, Voice Recognition, and Palm Vein), Type (Contact-based, Contactless, and Hybrid), Vertical (Government, Military and Defense, Healthcare, Banking and Finance, Consumer Electronics, Security, Travel and Immigration, Automotive, and Others Verticals) – Industry Trends and Forecast to 2031.

Biometric System Market Analysis and Size

In the biometric system market, technological advancements continually enhance security and efficiency. Biometric authentication offers unparalleled benefits, including robust identity verification, heightened security measures, and streamlined processes across various sectors. As demand grows, innovations drive further integration and optimization, ensuring biometric systems remain at the forefront of authentication technology.

For instance, in August 2021, the EU implemented interoperability standards for multi-model biometric systems to streamline data exchange. The Multiple Identity Detector (MID) database cross-references various databases to determine if identity data exists across multiple information systems, bolstering efficiency and accuracy in identity verification.

Data Bridge Market Research analyses that the global biometric system market size was valued at USD 45.48 million in 2023, is projected to reach USD 128.18 million by 2031, with a CAGR of 13.83% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Market Definition

A biometric system is a technological method of identifying individuals based on their unique biological characteristics, such as fingerprints, iris patterns, or facial features. It utilizes these traits to authenticate or verify a person's identity, enhancing security measures in various applications such as access control, attendance tracking, and border security.

Biometric System Market Dynamics

Drivers

• Rising Adoption of Mobile Biometrics

The smartphone and tablet usage surge has fueled the adoption of biometric authentication methods like fingerprint scanning, facial recognition, and iris scanning. For instance, Apple's Face ID and Touch ID, along with Android devices integrating fingerprint sensors, have popularized mobile biometrics. Offering both convenience and heightened security, this trend is set to persist, reshaping how users access and safeguard their devices and data.

• Growing Concerns About Identity Theft

Identity theft and fraud pose significant risks to individuals and organizations. Biometric systems provide highly secure authentication by using unique biometric data, such as fingerprints or facial features, which are difficult to replicate. This advanced method significantly surpasses traditional approaches such as passwords or PINs, effectively addressing mounting concerns about identity theft in today's digital environment.

Opportunities

• Increasing Integration with IoT and AI

Biometric systems integrated with IoT and AI amplify functionality, used in access control, time tracking, and enhancing customer experiences through personalized interactions. This synergy boosts efficiency and security across sectors. Biometrics offers seamless authentication, ensuring accurate identification and streamlined processes, catering to diverse needs efficiently.

• Rising Demand for Contactless Solutions

The COVID-19 pandemic has propelled the adoption of contactless technologies, particularly in biometric systems. Solutions such as facial recognition and iris scanning are witnessing heightened demand due to their hygienic benefits. For instance, in healthcare settings, contactless biometric authentication ensures secure access to patient records without physical contact, thereby reducing the risk of virus transmission. This trend extends across industries seeking safer and more efficient authentication methods.

Restraints/Challenges

• Maintenance and Long-term Support

Maintenance and long-term support are essential for biometric systems, involving regular updates and technical assistance. These ongoing operational costs can pose a barrier to adoption, impacting the market. Organizations must consider these factors to ensure optimal performance and security, which may hinder the growth of the biometric system market.

• Vulnerability to Spoofing

Spoofing attacks, utilizing fake biometric samples, pose a significant challenge for biometric systems, compromising their reliability and security. Addressing this vulnerability requires continuous advancements in anti-spoofing technologies to ensure the integrity and reliability of biometric authentication processes, thus fostering trust and adoption among users and organizations.

This market,  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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 the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In August 2022, Rwanda secured a 550 million Yen (approximately USD 4 million) Grant Aid from Japan for an Automated Fingerprint Identification System for Criminal Investigation. This system aims to enhance crime investigation capabilities, bolster counter-terrorism efforts, and improve public security in Rwanda
• In August 2022, Chile unveiled plans for implementing an automated biometric identification system (ABIS) to combat organized crime. Idemia provided the hardware for this initiative, which underscores Chile's commitment to leveraging technology for law enforcement purposes
• In June 2021, Pangiam acquired Trueface, a leading facial recognition, computer vision, and artificial intelligence solutions provider. This acquisition equips Pangiam with advanced technologies such as social distancing compliance monitoring and contactless temperature checks, enhancing its capabilities in various sectors
• In May 2021, Jumio and Veridium announced a strategic collaboration to reduce fraud cases in organizations during setup and subsequent access requests. By combining their expertise, this partnership offers enhanced identity verification capabilities utilizing multiple biometric modalities, fortifying security measures for businesses

Biometric System Market Scope

The market is segmented on the basis of component, authentication type, biometric type, type, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Hardware
• Software

 Authentication Type

• Single Factor Authentication
• Multifactor Authentication

 Biometric Type

• IRIS Recognition
• Hand Geometry
• Facial Recognition
• Signature Verification
• Fingerprint
• Voice Recognition
• Palm Vein

 Type

• Contact-based
• Contactless
• Hybrid

 Vertical

• Government
• Military and Defense
• Healthcare
• Banking and Finance
• Consumer Electronics
• Security
• Travel and Immigration
• Automotive
• Others Verticals

Biometric System Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by component, authentication type, biometric type, type, and vertical as referenced above.

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

Asia Pacific is projected to observe significant growth in the market, fueled by increasing safety concerns and government initiatives such as e-passport and national identification programs. Implementation in key countries such as China, India, Israel, Indonesia, and South Korea will further drive market demand.

North America is poised to lead the global biometric system market due to extensive adoption by security and government agencies. The region's robust implementation drives technological advancements, fostering secure and efficient biometric solutions worldwide.

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 such as 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 Biometric System Market Share Analysis

The 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, global presence, production sites and facilities, production capacities, 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 the market.

Some of the major players operating in the market are:

• Safran (France)
• NEC Corporation India Private Limited (India)
• Fujitsu (Japan)
• Aware, Inc. (U.S.)
• Gemalto Cogent, Inc. (U.S.)
• BIO-key International, Inc. (U.S.)
• Precise Biometrics AB (Sweden)
• secunet Security Networks AG. (Germany)
• Thales Group (France)
• Cognitec Systems GmbH (Germany)
• Crossmatch. (U.S.)
• Fulcrum Biometrics, LLC. (U.S.)
• Daon (Ireland)
• Facebanx (U.S.)
• HID Global Corporation/ASSA ABLOY AB. (U.S.)
• SUPREMA. (South Korea)
• IRITECH, INC. (U.S.)
• M2SYS Technology (U.S.)