Global Biometric Market – Opportunities and Forecast, 2018-2025

Press Release : April 01, 2020
Global Biometric Market – Opportunities and Forecast, 2018-2025

Biometrics is the use of a person’s behavioral and physical characteristics of a person as a mean of authentic identity for them. The behavioral and physical characteristics are unique to a person, and the biometric system is rapidly establishing itself in the field of security and surveillance. The behavioral characteristics consider the person’s voice, keystroke & signature, while the physical characteristics consider the fingerprint, Face, hand, Iris and DNA.

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Factors such as the long-standing problem of identity proof which is unique to every individual, the need for technologically advanced security and surveillance are some of the major drivers for its increasing demand. The concept of ePassport and eVisa is also another field that has driven the growth of Biometrics use. In addition, Biometrics is being used for various other applications like Law enforcement, Healthcare, Personal and National security, Governance etc. Biometrics identification and security has also become an integral part of electronic devices like smartphones and laptops. The increase in sale of the electronic products has also increased the demand of the Biometrics.

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Government initiatives are being also taken to utilize this technology for various national level policies and identification applications. India’s AADHAR project is a benchmark example of this system and by far the largest biometric identification system in the world. Many financial institutions like the banks are in the process or are planning to convert their customer base identification through Biometrics and will keep on creating huge demand for the technology. Presently, Fingerprint identification technology covers a major portion of the market with all other technologies are slowly and steadily penetrating the market. Moreover, the dropping prices of the Biometrics technology is giving this technology the required thrust for the adoption and driving its growth in the process. The evolving multimodal Biometrics technology is having created another face of growth for the Biometrics Technology. The challenge lies in converting the perceived information into digital front and be 100% accurate with it or else, it may lead to false acceptances and false rejections.

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Various notable players in the market include NEC Corporation, Fujitsu Ltd., Suprema Inc., Iris ID, Idemia, Crossmatch Technologies, Ultinous, IDEX Biometrics, Synaptics, Aware Inc. among others.

Key questions answered in this research report:

  • At what pace is global Biometrics market growing? What will be growth trend in future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Biometrics market?
  • What are the various application areas and how they are poised to grow?

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