Skip to main content

Market Overview

Biometric Technology Market Size is USD 11490 Million by 2026 at CAGR 11.0% | Valuates Reports

Share:

BANGALORE, India, Jan. 15, 2021 /PRNewswire/ -- The Biometric Technology Market is Segmented by Type (Based on physical characteristics, Based on behavioral characteristics), by Application (Public sector, Banking & financial sector, Healthcare, IT & telecommunication), by Regions & Key players Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Consumer Electronics Category.

Valuates_Reports_Logo

The global Biometric Technology market size is projected to reach USD 11490 Million by 2026, from USD 6142.6 Million in 2020, at a CAGR of 11.0% during 2021-2026.

Major factors driving the growth of the Biometrics Technology Market size are the increasing use of biometrics in consumer electronic devices for authentication and identification purposes, the growing need for surveillance and security with the heightened threat of terrorist attacks, and the surging adoption of biometric technology in automotive applications.

The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition.

Request a Sample Copy of the Report For COVID-19 Impact Analysis on Biometric Technology Market: https://reports.valuates.com/request/sample/QYRE-Auto-24Z2577/Covid_19_Impact_on_Biometric_Technology 

TRENDS INFLUENCING THE BIOMETRIC TECHNOLOGY MARKET SIZE

The expanding applications of biometrics in consumer electronics are expected to increase the growth of biometrics technology market size during the forecast period. The growing implementation of advanced authentication and recognition systems in smartphones and tablets is contributing to the growth of the biometrics technology market.

Furthermore, the integration of biometrics technology into banking and finance and e-commerce applications will allow safe transactions and provide ample opportunities for the growth of the biometrics technology market size. Biometrics technology is also increasingly recognized for e-passport programs and for the tracking of illegal migration. Thus, the increasing end-user application of biometrics is expected to drive the biometrics technology market size.

Increasing the use of biometric technology in enterprises to ensure improved convenience, secure identity management, and superior human resource management is expected to fuel the Biometric Technology Market size. Biometric systems are known to be quicker, convenient, and more reliable than conventional security systems that rely on passwords, PINs, or smart cards. In addition, biometric systems are easy to install and do not need highly skilled expertise to make them operational. 

View Report Details Before Purchasing: https://reports.valuates.com/market-reports/QYRE-Auto-24Z2577/covid-19-impact-on-biometric-technology 

BIOMETRIC TECHNOLOGY MARKET SHARE ANALYSIS

North America is expected to hold the largest biometrics technology market share during the forecast period. This dominance of North America is attributed to the rising application of biometrics technology in various departments, including commerce, defense, homeland security, justice, and state in the US.

As a result of growing technology awareness, the demand for Biometric Technology in the Asia Pacific is expected to grow. In the Asia-Pacific region, China and India are expected to witness the highest growth rates. Initiatives such as the e-KTP electronic ID initiative in Indonesia and the UIDAI project in India, using face, fingerprints, and eye biometry, are also expected to provide new business opportunities.

Based on type, Biometric technology based on physical characteristics is expected to hold the largest market share during the forecast period.

By Region

North America

  • United States
  • Canada

Europe

  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Nordic
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Australia
  • Rest of Asia-Pacific
  • Latin America
  • Mexico
  • Brazil

Middle East & Africa

  • Turkey
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

Inquire for Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-24Z2577/Covid_19_Impact_on_Biometric_Technology 

BIOMETRIC TECHNOLOGY MARKET SEGMENTS

by Type, the market is primarily split into

  • Based on physical characteristics
  • Based on behavioral characteristics

by Application, this report covers the following segments

  • Public sector
  • Banking & financial sector
  • Healthcare
  • IT & telecommunication
  • Others (hospitality, retail, automotive).

The Biometric Technology key players in this market include:

  • 3M Company (Cogent Systems, Inc.)
  • Fujitsu Frontech Limited
  • ImageWare Systems, Inc.
  • Suprema, Inc.
  • Safran S.A.
  • secunet Security Networks AG
  • Thales S.A.
  • BIO-key International, Inc.
  • NEC Corporation
  • Precise Biometrics
  • Others.

Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-24Z2577&lic=single-user 

Buy Now for Enterprise User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-24Z2577&lic=enterprise-user 

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS :

Hand Geometry Biometric Market size is projected to reach USD 9834.3 Million by 2026, from USD 4946.8 Million in 2020, at a CAGR of 12.1% during 2021-2026.

Speech Recognition Market size is projected to reach USD 17490 Million by 2026, from USD 9461.8 Million in 2019, at a CAGR of 9.1% during 2021-2026

Gesture Recognition Market size is projected to reach USD 19120 Million by 2026, from USD 6016.1 Million in 2019, at a CAGR of 17.8% during 2021-2026.

Biometric Authentication & Identification Market size is projected to reach USD 62850 Million by 2026, from USD 30510 Million in 2020, at a CAGR of 12.8% during 2021-2026. 

Automotive Biometric Market was valued at USD 476 Million in 2017, and is expected to reach at USD 1,128 Million by 2024, growing at a CAGR of 12.0% from 2018 to 2024.

Biometrics-as-a-Service Market garnered USD 1.42 Billion in 2018, and is estimated to reach USD 5.37 Billion in 2026, growing at a CAGR of 18.2% from 2019 to 2026. An increase in the adoption of cloud-based biometrics, supported by numerous factors such as growing cyber-attacks, stringent government regulations for data security, and demand for cost-efficient biometrics, are the major factors driving the growth of the Biometrics-as-a-Service Market size. 

Biometric Sensor Market size is projected to reach USD 1576.5 Million by 2026, from USD 967.3 Million in 2019, at a CAGR of 7.1% during 2021-2026.

Biometric Cards Market is Segmented by Type Contact Biometric Cards, Contactless Biometric Cards, by Application Payment Cards SIM Cards, Transportation Cards, Access Cards and by various regions.

Biometric Gate Market is Segmented by Type Below 3 Seconds, Above 3 Seconds, by Application Airport, Train Station, Bus Station, Government Department and by various regions.

Biometric Fingerprint Digital Door Locks Market is Segmented by Type With Door Handle, Without Door Handle, by Application Residential, Commercial and by various regions.

Click Here To See Related Reports On Biometric Technology Market

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. 

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US:

Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call  +1-(315)-215-3225
For IST Call  +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports

 

 

Cision View original content:http://www.prnewswire.com/news-releases/biometric-technology-market-size-is-usd-11490-million-by-2026-at-cagr-11-0--valuates-reports-301209312.html

SOURCE Valuates Reports

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com