Market Overview

Biometric System Market Report 2018 - Global Forecast to 2023 -


The "Biometric
System Market by Authentication Type (Single-Factor and Multifactor),
Functionality Type (Contact, Non-Contact, and Combined), Component
(Hardware and Software), Application, and Geography - Global Forecast to
report has been added to's

The biometrics system market is expected to grow from
USD 16.80 billion by 2018 to USD 41.80 billion by 2023, at a CAGR of
19.99% between 2018 and 2023.

Biometrics systems are gaining high traction worldwide owing to the
growing need for surveillance and security in the private and business
sectors. Further, the increasing adoption of voice recognition systems
in the banking and financial services are expected to fuel the growth of
the market in future. However, high deployment cost acts a restraint for
the market growth.

This report has been segmented, on the basis of application, into
government, security, and automotive. The growth of the market for the
automotive application can be attributed to the increasing number of
vehicle theft cases, which is encouraging the vehicle manufacturers to
equip their products with biometrics systems, thereby enhancing the
security levels for their customers.

Market Dynamics


  • Increasing Number of Government Initiatives to Adopt Biometrics
  • Growing Need for Surveillance and Security Owing to the Threats of
    Terrorist Attacks
  • Proliferation of Biometric Technology in Applications Such as
    Financial Institutes, Retail, and Automotive
  • Increased Convenience, Secure Identity Management, and Superior Human
    Resource Management


  • High Deployment Cost


  • Technological Upgrades and Advancements


  • Threat of Privacy and Data Breach

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Biometric System Market, By Authentication Type

7 Biometric System Market, By Component

8 Biometric System Market, By Functionality Type

9 Biometric System Market, By Application

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

  • Assa Abloy
  • Aware
  • Bio-Key International
  • Cognitec Systems
  • Cross Match Technologies
  • Daon
  • Facebanx
  • Fujitsu
  • Fulcrum Biometrics
  • M2sys Technology
  • NEC
  • Precise Biometrics
  • Qualcomm
  • Safran
  • Secunet Security Networks
  • Securiport
  • Stanley Black & Decker
  • Suprema
  • Thales
  • Vasco Data Security International

For more information about this report visit

View Comments and Join the Discussion!