Global Biometrics Strategic Market Analysis Report, 2022 and 2023-2030: Next-Generation Biometric Technologies to Transform Market Landscape

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Nov 30, 2023, 18:00 ET

DUBLIN, Nov. 30, 2023 /PRNewswire/ -- The "Biometrics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Biometrics Market to Reach $79.6 Billion by 2030

The global market for Biometrics estimated at US$24 Billion in the year 2022, is projected to reach a revised size of US$79.6 Billion by 2030, growing at a CAGR of 16.2% over the analysis period 2022-2030.

Non-AFIS, one of the segments analyzed in the report, is projected to record 14.1% CAGR and reach US$21.8 Billion by the end of the analysis period. Growth in the AFIS segment is estimated at 17.7% CAGR for the next 8-year period.

In 2022, the global biometrics market saw key competitors vying for market share. This market is introduced with an overview of biometrics technology, encompassing various types of biometric technologies. The growing use of biological traits for identification and verification is identified as a significant driver for market prospects. The COVID-19 pandemic had impacts on the contact-only biometrics market. Developing economies are expected to lead the future adoption of biometric technology.

The competitive landscape includes biometric startups poised to transform the competitive scenario, alongside established world brands. Recent market activity is also highlighted, with a focus on the competitive market presence of players worldwide in 2022, ranging from strong and active to niche and trivial.

The U.S. Market is Estimated at $6.5 Billion, While China is Forecast to Grow at 20.1% CAGR

The Biometrics market in the U.S. is estimated at US$6.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$14.9 Billion by the year 2030 trailing a CAGR of 20.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.6% and 14.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.7% CAGR.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

Next-Generation Biometric Technologies to Transform Market Landscape
Finger-Vein Recognition
3D Face Recognition
Sensor Interoperability
Biometrics Authentication in the Cloud
AI & Biometrics
Contactless Biometrics Technology Poised for Major Gains in Post COVID-19 Period
Multimodal Biometrics Emerges as a Promising Area of Growth
Future Trends in Biometrics Technology: A Review
Growing Role of Biometrics for Identification & Authentication in Consumer Electronics Sector
Smartphones Become a Critical Device for Biometrics
Rise in Biometric Technology-based Government Initiatives Propel Market Growth
National ID Programs Build Opportunities for Biometric Systems
Border Control & Immigration Emerges as a Promising Market for Biometric Systems
Continued Threat of Terrorism Drives the Focus on Beefing Up Security with Biometric Systems
Fingerprint Technology Remains the Dominant Biometric System in Use for Immigration Purposes
Rising Prominence of Iris Biometrics for Travel & Immigration Control
Growing Role of Biometrics in Addressing Fraud and Security Breaches to Propel Use of Iris Recognition Technology in BFSI Industry
Applications of Biometrics Technology in Financial Services Sector
Digitization of Banking Services and Need for Stricter Identification Protocols to Prevent Security Breaches Drives Market
Biometrics Enable Banks to Improve Customer Engagement Levels
Fingerprint Scan Technology Leads the BFSI Sector
Iris Biometrics Poised for Strong Growth in BFSI Sector
Voice Biometrics Continues to Gain Growth in BFSI Sector
Facial Recognition Growing in Popularity
Banks See More Deployment of Vein Recognition Biometrics
Dual Biometrics Finds Acceptance among Banks
Rise of Internet and Mobile Banking Drives Opportunities for Biometrics Market
Biometrics-based Authentication at ATMs on Rise
Rise in ATM Installations Presents Opportunity for Iris Biometrics
Increasing Availability of Biometrics-Enabled Smartphones Transforms Mobile Banking Services
Biometric Payment Cards Propel Biometrics Adoption in BFSI Sector
Financial Inclusion of Unbanked Population: A Key Advantage of Biometrics Technology
Top Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being Unbanked
Digital Onboarding Initiatives of Banks Present Favorable Outlook for Biometrics Technologies
Amidst Digital Transformation of Banking Operations, Behavioral Biometrics Witnesses Growth
Keystroke Dynamics Authentication Overcomes Challenges Related to Conventional Authentication Methods
Regulatory Mandates Promote Adoption Biometrics Technology in Banking Sector
Innovations in Biometrics for Banking and Financial Services Sector: A Review
Increasing Significance of Biometrics Technology in Facilitating Contactless Passenger Journey Post-COVID-19 Pandemic
Demand for Biometric Systems Rises from Law Enforcement Agencies
Prisons & Detention Centers Bank on Iris Biometrics
Significant Role of Biometrics in Access Control Implementations
Iris Biometrics Rapidly Gains Adoption in Physical Access Implementations
System & Network Access Control Presents Considerable Market Opportunity
Use of Iris Biometrics for Attendance & Workforce Management to Grow in Prominence
Multi Factor Authentication Continues to Grow in Popularity in Access Control
Automotive Industry Exhibits Growing Inclination to Use Biometrics Systems
Biometrics Technology Becomes Indispensable in Identity Verification & Access Control at Airports
Biometrics Technology to Expedite Check In and Boarding at Airports
Automated Border Control Systems (eGates) for Faster Processing at Border Checkpoints: Opportunities for Market Growth
Enterprises Choose Biometric Technology for Secure Identity Management and Better HR Management
Digital Transformation of Workplaces and Enterprise Mobile Enhance Importance of Biometrics Technology
Threat to Security and Privacy-Increase in Cyberattacks and Hacking amidst COVID-19 Pandemic
Healthcare Emerges as a High Growth Market for Biometric Systems
Iris Biometrics Well Suited to Mitigate Hospital Patient Identification Issues
Hygiene Concerns Amidst the COVID-19 Pandemic Create Business Case for Contactless Biometrics
Education Sector to Leverage the Capabilities of Biometrics Technology
Hospitality Industry: High Potential Market for Biometrics Technology
Growing Role of Biometrics Technology in Smart Homes and Offices
Biometrics Present Potential Opportunities for Retail Vertical
Fingerprint Recognition: A Reliable Biometrics Technology with Varied Applications
Low Costs Benefits Drive Gains in Non-Automated FIS Market
Contactless Fingerprint Systems Drive Opportunities
3D Fingerprint Scanners Evolve as a More Accurate Technology
Iris Biometrics: Uniqueness of Human Iris Holds Tremendous Potential as an Identification Technology
Iris Recognition Gains Marked Adoption across Diverse Verticals
Iris-based Identity Authentication Address Concerns with Contact Biometrics
Cloud Solutions Boost Adoption of Iris Recognition Technologies
Blockchain & Iris Recognition Opens Opportunities for Identity Verification in Various Industries
Technology Developments to Transform the Iris Biometrics Market
Advanced Hand Held Devices to Bring Portability to Iris Biometrics
Face and Voice Recognition Technologies Continue to Gain Popularity
Hand Geometry: Another Promising Biometric Authentication Technology
Banking and Time & Attendance Management Sustain Demand for Hand Geometry Systems
Consumer Biometrics: Need for Convenience and Hassle-Free Experiences Boost Technology Adoption
Digital Authentication Needs of Diverse Verticals Turn Focus onto Behavioral Biometrics
Key Issues Facing Biometrics Market

FOCUS ON SELECT PLAYERS (Total 340 Featured)

Anviz Global, Inc.
4G Identity Solutions Pvt., Ltd.
AGNITiO S.L.
Animetrics, Inc.
360 Biometrics
3dMD LLC
Accu-Time Systems, Inc.
Applied Recognition, Inc.
ACK3 Bionetics
AgeWell Biometrics
Acuity Market Intelligence
Airside
ALiCE Biometrics
ANDE
3D Face

For more information about this report visit https://www.researchandmarkets.com/r/kyfoqb

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