The Global Biometric Technology Market size is expected to reach $85 billion by 2027, rising at a market growth of 14.1% CAGR during the forecast period.
Biometric technology is utilized for the purpose of identification and authentication of individuals by measuring and analyzing their personal traits such as fingerprints, iris, hand geometry, voice, face, vascular pattern, palm print, or behavioral characteristics such as signature, typing patter, and gait. It is an important industry which forms the backbone of the biometric market.
Biometric technology offers advanced methodology in comparison to traditional PIN-based procedures. By using a unique identifying mechanism, this technology protects sensitive or personal data from fraudulent use of an individual's assets, such as ATMs, smart cards, mobile phones, or access to desktops, laptops, workstations, or networks. It records and compares both physiological and psychological qualities to recognize users, making it useful in a variety of critical applications like national security, law enforcements, enterprise & e-governance, personal information & business transactions, and so on. Biometric systems are equipped with a storage solution for individual biometric data samples which are linked to their identifying information.
Traditional techniques might get compromised, such as a forgotten PIN or password or a misplaced key, whereas biometric features are hard to feint or forget. Biometric technology is utilized in a range of industries, including banking & finance, defense, government, transportation & immigration, healthcare, commercial security, non-commercial safety, and others (automobile, hospitality, gaming, retail), due to its distinctive qualities and high security.
The main driver of the biometric technology market is the ever-increasing implementations of biometric solutions in the private & government sectors. The widespread adoption of improved security systems in organizations and the use of e-passport & e-visas are the other key causes which are fast-tracking the market growth. The rapidly progressing biometric technology, adoption of these technologies by e-commerce sites and applications, and cloud computing have paved a way for major players operating in the biometric technology market.
On the other hand, the demand for contactless biometric technologies like face recognition, iris recognition, and voice recognition is likely to increase following COVID-19. The COVID-19 pandemic has arrived as a driving force in the development and adoption of contactless biometric technologies. After the spread of this fatal illness over the world, business organizations, institutions, and governments are still focused on cleanliness.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; NEC Corporation and Fujitsu Limited are the forerunners in the Biometric Technology Market. Companies such as Thales Group S.A., Suprema, Inc. and Precise Biometrics AB are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NEC Corporation, Thales Group S.A., Fujitsu Limited, ImageWare Systems, Inc., Precise Biometrics AB, BIO-key International, Inc., Secunet Security Networks AG, Suprema, Inc., IDEMIA SAS, and HID Global Corporation.
Biometric technology is utilized for the purpose of identification and authentication of individuals by measuring and analyzing their personal traits such as fingerprints, iris, hand geometry, voice, face, vascular pattern, palm print, or behavioral characteristics such as signature, typing patter, and gait. It is an important industry which forms the backbone of the biometric market.
Biometric technology offers advanced methodology in comparison to traditional PIN-based procedures. By using a unique identifying mechanism, this technology protects sensitive or personal data from fraudulent use of an individual's assets, such as ATMs, smart cards, mobile phones, or access to desktops, laptops, workstations, or networks. It records and compares both physiological and psychological qualities to recognize users, making it useful in a variety of critical applications like national security, law enforcements, enterprise & e-governance, personal information & business transactions, and so on. Biometric systems are equipped with a storage solution for individual biometric data samples which are linked to their identifying information.
Traditional techniques might get compromised, such as a forgotten PIN or password or a misplaced key, whereas biometric features are hard to feint or forget. Biometric technology is utilized in a range of industries, including banking & finance, defense, government, transportation & immigration, healthcare, commercial security, non-commercial safety, and others (automobile, hospitality, gaming, retail), due to its distinctive qualities and high security.
The main driver of the biometric technology market is the ever-increasing implementations of biometric solutions in the private & government sectors. The widespread adoption of improved security systems in organizations and the use of e-passport & e-visas are the other key causes which are fast-tracking the market growth. The rapidly progressing biometric technology, adoption of these technologies by e-commerce sites and applications, and cloud computing have paved a way for major players operating in the biometric technology market.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on worldwide biometric system supply chain. The recovery of the supply chain is determined largely by how the situation stabilizes globally and when factories begin to operate at full capacity. The outbreak of the COVID-19 pandemic has had the greatest impact on demand for contact-based biometric devices, such as, fingerprint scanners. Even after the pandemic has passed, demand for contact-based biometric devices is expected to plummet as people are likely to be wary of touching objects too often.On the other hand, the demand for contactless biometric technologies like face recognition, iris recognition, and voice recognition is likely to increase following COVID-19. The COVID-19 pandemic has arrived as a driving force in the development and adoption of contactless biometric technologies. After the spread of this fatal illness over the world, business organizations, institutions, and governments are still focused on cleanliness.
Market Growth Factors:
Rise in the usage of biometric technologies among enterprises
Biometrics is everywhere and has become an essential part of the world. It is used in household products such as smartphones (fingerprint scanners, retina scanners and infrared face scanners) and smart doorbells with the capacity for facial recognition. Biometrics technology is also utilized by businesses in a variety of ways. Apple was the first firm to introduce fingerprint recognition capability in smartphones, which is now commonplace in handsets from Samsung, Motorola, HTC, and other manufacturers. For example, Fujitsu is a consumer electronics pioneer, offering laptops and notebooks with PalmSecure, a hand geometry biometrics reader. The popularity and adoption of biometric security systems is to increase even further as they heighten the benchmark of security.Improvements in the biometric identification technology
The rapid advancements in the biometric solution technologies is adding up to the features and versatility of the biometric technology. The growth of this technology has also been boosted by the adoption of computers and smartphones by the masses. These devices gave companies new opportunities for recording the physiological and behavioral data of its users and led to new insights regarding it. Machine learning and artificial intelligence technologies are introducing new options for identifying any suspicious behavior intelligently and automatically, as well as providing an additional layer of authentication if necessary, to increase behavioral biometrics.Marketing Restraining Factor:
High Cost of Implementation
The biggest hindrance to the widespread and comprehensive adoption of biometric system in each studied region is its cost. High-security applications call for multifactor authentication, while single-factor biometric solutions are required for low-security applications. The type of sensor employed in the device significantly impacts the cost of implementing multi-factor biometric applications. The high cost of biometric solution components, as well as the high cost of installation, limits the demand for biometric technology among private and public companies. While biometric usage in corporations is fast increasing, there are still limiting concerns, according to Maxim, such as the cost of biometric readers and connection with other systems. Passwords work with anything and everything while biometrics still has limited use cases.Type Outlook
Based on Type, the market is segmented into Physiological Biometrics and Behavioral Biometrics. Based on Physiological Biometrics Type, the market is segmented into Face Recognition, Fingerprint Recognition, Iris Recognition, Hand Geometry, and Others. Based on Behavioral Biometrics Type, the market is segmented into Signature Recognition, Voice Recognition, and Others. Facial recognition segment acquired the largest revenue share in the physiological biometric segment. Facial recognition is a flexible technology with significant adoption in the retail, defense and law enforcement, and consumer electronics sectors, and is predicted to increase rapidly during the projection period. Face recognition is in high demand, especially for smartphone applications and social networking integration.Component Outlook
Based on Component, the market is segmented into Hardware and Software. The software segment witnessed a significant revenue share in the biometric technology market in 2020. The purpose of biometric software is to confirm or establish a person's identity based on physiological or behavioral traits such as fingerprints, retinas or irises, voice and face patterns, and hand measurements. For verification and identification, these feature vectors are stored electronically or captured on a smart card or other device. The process of biometric verification entails comparing a person's actual characteristics to stored data about that individual.End User Outlook
Based on End User, the market is segmented into Public Sector, BFSI, Healthcare, IT & Telecom, and Others. The public sector acquired the largest revenue share in the biometric technology market in 2020. Biometrics security systems aid in the eradication of corruption through a variety of government-sponsored large-scale identification schemes, such as biometric civic IDs. Government subsidies, refunds, and incentives, such as rations and others, can be conveniently offered to entitled individuals using biometric identification while preventing any potential loopholes in the system. Biometric technologies are frequently used by government entities to validate identity across international borders. In certain nations, visa applicants are required to provide biometric samples that are compared to criminal records and immigration databases to prevent criminals from entering their countries.Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific observed a significant revenue share in the biometric technology market. This region is one of the fastest-growing markets for biometric technology. ASEAN countries have begun standardizing their security screening structures for entry to their respective countries. The Thailand police department has installed facial recognition systems at all border crossings in Thailand, while Changi Airport in Singapore is evaluating whether to implement wearable touch in addition to facial recognition technologies at airports. Various market companies are eager to establish themselves in Asian markets in order to enhance their market presence.The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; NEC Corporation and Fujitsu Limited are the forerunners in the Biometric Technology Market. Companies such as Thales Group S.A., Suprema, Inc. and Precise Biometrics AB are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NEC Corporation, Thales Group S.A., Fujitsu Limited, ImageWare Systems, Inc., Precise Biometrics AB, BIO-key International, Inc., Secunet Security Networks AG, Suprema, Inc., IDEMIA SAS, and HID Global Corporation.
Partnerships, Collaborations and Agreements:
- Feb 2022: Thales entered into a partnership with Singapore Economic Development Board, plans and executes strategies to sustain Singapore. Under this partnership, the companies aimed to install more fintech and cloud aviation solutions along with more cutting-edge biometrics in the country.
- Jan 2022: Imageware teamed up with the Arizona Department of Corrections, the statutory law enforcement agency. Under this collaboration, the entities aimed to deliver the Imageware Law Enforcement Platform to streamline and enhance the procedure of grabbing biographic and biometric information on prisoner intake at correctional facilities.
- Jan 2022: Precise teamed up with Infineon Technologies, the German semiconductor manufacturer. Together, the companies aimed to deliver inventive technologies within the market to strengthen the relationship between vehicles and humans. Moreover, it provides Precise BioMatch, to allow multiple applications, automated adjustments of driver settings in vehicles, and fingerprint technology.
- Jan 2022: Thales formed a partnership with Mastercard along with Bank Pocztowy. Through this partnership, the companies aimed to provide a fingerprint-scanning card to its enterprise consumers, who is expected to be able to authorize biometrically payments with no lie on the amount of money processed in the transaction.
- Dec 2021: Idemia partnered with Aena, a Spanish airport operator. Through this partnership, the companies aimed to expand their biometric technology at Josep Tarradellas Barcelona-El Prat Airport for flight boarding.
- Dec 2021: IDEMIA came into a partnership with SHODEN, a Japanese manufacturer of enterprise-grade systems and equipment, and Genetec. Under this partnership, the companies focused on combining IDEMIA's VisionPass device and the patented Genetec Security Center into SHODEN's security infrastructure portfolio, which is expected to be installed as a part of the entry control system for a massive Japanese utility company.
- Dec 2021: Sentry Enterprises partnered with HID Global, develops access control and secure identity solutions. This partnership aimed to merge leading employee physical and biometrics within logical access control systems.
- Nov 2021: Nov Suprema came into partnership with Genetec Security Center, a unified security platform. This partnership focused on providing easy operating and building biometric-based security management systems for both enterprises.
- Nov 2021: Thales signed an agreement with Vietnam's VNPT, a telecommunications company, owned by the Vietnamese Government, and the national post office of Vietnam. This agreement aimed to propel the country's digital transformation along with smart cities, biometrics, and other technologies.
- Oct 2021: Suprema ID formed a partnership with Ekemp, provider of the most advanced e-passport solution. Under this partnership, the companies aimed to merge Suprema ID's RealScan-G10 FAP60 fingerprint scanner with Ekemp VigoBox biometric registration kit, to expand the full advantages of RealScan-G10 fingerprint scanners to more consumers across the world.
- Sep 2021: Imagewar signed an agreement with Alutel Mobility, a company specializing in mobile access control technologies, mustering, visitor management, and many more. Under this agreement, the companies aimed to implant Alutel's market-leading mobile access control solution within Imageware's patented Biometric Engine, top NIST-rated biometric algorithms is expected to help increase security for consumers around various locations such as ports, airports, mines, public transportation, production plants, office building, refineries, and many others.
- Sep 2021: Imageware formed a partnership with TECH5, an innovator in the field of identity management solutions. Under this partnership, Imageware aimed to combine fast and accurate biometric technology and algorithms into their product offering for both public and private sectors.
- Sep 2021: Precise came into a partnership with Doro AB, a Swedish technology company developing innovative solutions in the field of technology-enabled care. Under this partnership, the companies aimed to merge Precises' YOUNiQ technology with Doro's social alarms, allowing more convenient and safe identification that is expected to bring advantages to relatives, users, and care providers.
- Aug 2021: Imageware entered into an agreement with Four Points Technology, a Service-Disabled Veteran-Owned Small Business company. Under this agreement, Four Points Technology's NASA SEWP V aimed to support the Personal Identification Verification card program, support, and software delivered by biometrically implant credentials. Additionally, it covers one base year with two, one-year option periods to deliver biometric leasing improved and support security for employees, agency facilities, and contractors.
- Jul 2021: IDEMIA formed a partnership with Bosch Building Technologies, a global leader in the security market. This partnership aimed to capture the escalating biometric access control market.
- May 2021: Precise signed a distribution agreement with Elektroskandia Sverige AB, YOUNiQ, an accurate product for biometric facility access. Under this agreement, the companies focused on providing Precise identification software with facial recognition technology for an accessible and safe approach is expected to be added in the Elektroskandias product suite.
- Mar 2021: Suprema came into a partnership with AEOS, a lifestyle brand offering a variety of health and wellness products. Under this partnership, the companies aimed to merge Suprema's latest facial recognition technology with Nedap AEOS's access control system to enable the consumer to take benefit of a broad variety of Suprema's biometric solutions.
- Feb 2021: BIO-key International came into a partnership with Appsian, an ERP data security leader. Under this partnership, the companies focused on providing robust security technology to business seekers to improve ERP system security by including an IAM solution that provides time-to-value, scalability, usability, and flexibility benefits.
- Jan 2021: Precise joined hands with Sensative, a Swedish tech company offering IoT solutions. This collaboration aimed to merge Precise YOUNiQ within Sensative's Yggio platform to provide biometrics into many IoT use cases.
- Dec 2020: Precise collaborated with Sehlhall Fastigheter, a real estate company building and managing community service properties. This collaboration aimed to implant Precise facial recognition technology for appropriate and safe access to Sehlhall's properties.
- Dec 2020: NEC Corporation joined hands with Lufthansa Airlines along with Swiss International Airlines. Under this collaboration, the entities launched Star Alliance Biometrics, an identity verfication platform using NEC's facial recognition solution at Frankfurt Airport and Munich Airport.
- Nov 2020: Suprema formed a partnership with DVS, a security solutions distributor in the UK. This partnership focused on expanding the Suprema consumer base, delivering UK consumers with complete security solutions of security video cameras.
- Aug 2020: Suprema came into a partnership with Net2, easy to install and designed to make the management of any building very simple. Under this partnership, the companies aimed to combine Suprema's devices along with Paxton's Net2 to provide top-notch technology in access biometrics and control. Additionally, the companies is expected to allow the consumer to feel Suprema biometrics and enhanced security without leaving the Net2 system.
- Jul 2020: NEC Corporation came into a partnership with SITA, a multinational information technology company. Through this collaboration, the companies aimed to deliver NEC I: Delight using NEC's cutting-edge digital unique solution that obtained on biometrics technologies to provide a cooperative consumer experience around a broad range of services.
- Jul 2020: PFU Limited, a Fujitsu company joined hands with Qualcomm Smart Cities Accelerator Program. Under this collaboration, PFU Limited joined Qualcomm along with Innominds to enhance smart cameras as well as facial biometric technologies used in identity management solutions using Qualcomm Technologies' IoT platforms.
Acquisitions and Mergers:
- Feb 2022: BIO-key completed the acquisition of Swivel, a Madrid-based digital identity, and access management and multi-factor authentication provider. This acquisition aimed to expand its identity-bound biometrics reach within the Middle East, African, and European market.
- Nov 2021: Precise Biometrics took over EastCoast Solutions, the leading Swedish visitor management system. This acquisition aimed to propel Precise's digital identity in the software-as-a-service business area as well as to strengthen the enterprise positioning in the physical access control market.
- Jul 2020: BIO-key International completed its acquisition of PistolStar, an established provider of large-scale on-premise and Identity-as-a-Service identity and access management solutions. Under this acquisition, the company aimed to expand BIO-key's multi-factor authentication abilities to provide a complete offering of Identity-as-a-Service solutions along with Identity Access Management for organization consumers.
- Apr 2020: Fujitsu Frontech North America, a wholly-owned subsidiary of Fujitsu Frontech Limited took over Fulcrum Biometrics, Texas-based biometric hardware, software, and solutions provider. Through this acquisition, the company aimed to expand its enterprise apart from palm vein authentication, to provide a broad range of multi-modal biometric solutions that is expected to provide an increased level of security and accuracy, for global as well as North American consumers.
Product Launches and Product Expansions:
- Jan 2022: IDEMIA released two new biometric terminals MorphoWave SP Simplified Profile and MorphoWave XP X-tended Performance, after its MorphoWave Compact. The product offers the most advanced biometric algorithm.
- Oct 2021: Suprema expanded its prevailing version of its X-Station 2 access control terminal. The product offers diversified contact-free certification options for consumers to use existing biometric information. Additionally, this product expansion is expected to offer the consumer the same level of security performance as well as the peace and benefits from mobile.
- Jun 2021: HID Global introduced HID Signo Biometric Reader 25B. This product is designed to capture and read fingerprints in real-world conditions and applications. Through this launch, the reader adds an application programming interface for combining within access control software solutions from HID partners. Moreover, it allows a single point of biometric template enrollment between an access control system, pushed within all connected devices simultaneously.
- Apr 2021: BIO-key introduced Pocket10, FAP 50, and USB connection. The product offers new devices to its fingerprint scanners to provide its government and enterprise consumers with new form factors for convenient and secure biometric authentication services. Moreover, the BIO-key hardware and platform options is expected to give the consumer access to secure solutions, cost-effective, and flexible solution access by customers, partners, and employees.
- Feb 2021: ImageWare Systems introduced ImageWare Authenticate. The solution offers secured data and application, assuring a low friction end-user experience by allowing consumers to scan biometrics with the help of Andriod or iOS mobile devices.
- Oct 2020: Thales introduced an identity verification offering, a secure biometric solution for consumers onboard. The solution provides advice about the Covid-19 ecosystem with touchless interactions, allowing service suppliers to reach end-users via mobile handsets or the web.
- Aug 2020: Suprema launched FaceStation F2 Fusion Multimodal Terminal. The product offers anti-spoofing performance along with exceptional authentication accuracy by the intermixture of infrared and visual face recognition technology. Additionally, this product delivers the health and safety abilities as well as critical identity management those enterprises need to get workers back to offices.
- Jul 2020: Suprema introduced Suprema Thermal Camera, which can be used in combination with FaceStation 2, a device used to detect elevated skin temperature. The product offers advanced safety and security at the workplace by merging skin temperature measurement and face recognition.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Physiological Biometrics
- Face Recognition
- Fingerprint Recognition
- Iris Recognition
- Hand Geometry
- Others
- Behavioral Biometrics
- Signature Recognition
- Voice Recognition
- Others
By Component
- Hardware
- Software
By End User
- Public Sector
- BFSI
- Healthcare
- IT & Telecom
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- NEC Corporation
- Thales Group S.A.
- Fujitsu Limited
- ImageWare Systems, Inc.
- Precise Biometrics AB
- BIO-key International, Inc.
- Secunet Security Networks AG
- Suprema, Inc.
- IDEMIA SAS
- HID Global Corporation
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Biometric Technology Market by Type
Chapter 5. Global Biometric Technology Market by Component
Chapter 6. Global Biometric Technology Market by End User
Chapter 7. Global Biometric Technology Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- NEC Corporation
- Thales Group S.A.
- Fujitsu Limited
- ImageWare Systems, Inc.
- Precise Biometrics AB
- BIO-key International, Inc.
- Secunet Security Networks AG
- Suprema, Inc.
- IDEMIA SAS
- HID Global Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 322 |
| Published | March 2022 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 34835.9 Billion |
| Forecasted Market Value ( USD | $ 85031.87 Billion |
| Compound Annual Growth Rate | 13.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
