Biometric technology is a method used to identify and authenticate individuals by analysing their physical and behavioural characteristics that include fingerprint, face, iris, hand geometry, voice, signature, vascular patterns, typing pattern, and others. Global Biometrics market accounted for $XX billion in 2018 & would witness a CAGR of 19.21% over the forecast period to reach $72.66 billion by 2027. For the market study of biometrics, the base year considered is 2018. The forecast period is 2019-2027. Some of the factors that are responsible for driving the market are;

• Increased need for advanced security.
• The growing number of identity theft
• Evolution of mobile biometric systems.
• Rising adoption of multimodal biometrics.
• Widening applications of biometrics.

However, increased demand for the developed security and border control because of the rise in the perils of terrorist attacks, and evolution in the schemes related to a national ID, visa, and E-passport for competent tourist check are the primary drivers that are augmenting the growth of the biometrics market amid the forecast period.

The awareness and importance of the biometrics are spreading rapidly, and its adoption in several sectors has become integral as their incorporation has proven helpful to many organizations. Government end-user sector is currently leading the market. It has captured a significant market share of around 48% in the year 2018. The government sector uses the systems in law enforcement, border control, access control, immigration, tourism management, national ID, and in many other applications. Increase terror threat and need for advanced security augmented the demand for the biometric systems in the government sector. Transportation end-user application sector is projected to be the second largest market. These systems are used in airports, seaports, and other transportation means for identification and access control. Also, they are used at the airports and seaports for surveillance, immigration control, and for access control of staff and authorities.

With the increased adoption of biometrics, newer challenges have been introduced in the market. Lack of standardization and easy availability of inexpensive alternate technologies are some of the factors that are restricting the growth of the market. The key players in the market are facing challenges in minimizing the high costs associated with the biometric systems. Also, overcoming few technological boundaries like noise in the captured data and security of the biometric data are the biggest hurdles in front of the key players.

The global biometrics market has been segmented based on its type, its technology, & by end-user verticals:

Market by Type:

• Fixed
• Mobile

Market by Technology:

• Fingerprint Recognition
• Iris Recognition
• Facial Recognition
• Hand Geometry
• Vein Analysis
• Voice Recognition
• DNA Analysis
• GAIT Analysis
• Electroencephalogram (EEG)/Electrocardiogram (ECG)
• Other Technologies

Market by Verticals:

• Government
• Transportation
• Healthcare
• Banking, Financial Services & Insurance (BFSI)
• Retail
• Other Verticals

The report scope is widely categorized on the basis of its major components, which includes hardware, software and services. However, the total market revenue in the report is calculated as the sum of software & service components only. Revenue from hardware component is excluded from the scope of the report.

On the basis of geography, the global biometrics market has been segmented into five major regions;

• North America Biometrics Market: the United States & Canada
• Europe Biometrics Market: United Kingdom, France, Germany, Italy & Rest of Europe
• Asia Pacific Biometrics Market: China, India, Japan, South Korea, Australia-New Zealand & Rest of Asia Pacific
• Latin America Biometrics Market: Brazil, Argentina, Mexico & Rest of Latin America
• The Middle East & Africa Biometrics Market: Saudi Arabia, Turkey, United States Emirates (UAE), Egypt, Syria, Iraq, South Africa, Rest of Middle East & Africa

North America leads the global biometrics market in 2018 with a market share of around 30%, which is followed by Asia-Pacific and Europe. In North America, the requirement of biometrics is raised because of the rise in the demand of developed security precaution and tourist administration after the 9/11 attacks. In North America, the biometrics market has witnessed strong growth over the years, especially in law enforcement, forensics, and government activities. In the U.S., biometric passports are compulsory for issuance of foreign passports from 2016. One of the strongest laws regarding biometrics exists in Illinois named Biometric Information Privacy Act (BIPA), which forbids companies from collecting information without prior consent from an individual. Also, Asia-Pacific is a speedily evolving region with a CAGR of XX%. The existence of the developing economies like India, China, South Korea, Japan, Malaysia, Singapore and Australia and the expanded acceptance in these countries for biometrics are driving the market growth. The increasing use of the Internet, online payments, immigration, growing automotive and healthcare sectors, and initiatives such as “Digital India” and “Adhar” by the Indian government are likely to expand the biometric market growth at the fastest rate. The increasing use of e-commerce in the region has boosted the biometric market owing to the need to overcome threats of identity theft, data intrusion, and cyber-attacks

The biometrics market is segmented on the basis of its technology type. The market can be roughly classified on the basis of 9 technologies, namely, fingerprint recognition, Iris Recognition, facial recognition, hand geometry, vein analysis, voice recognition, DNA Analysis, GAIT Analysis, EEG/ECG and other technologies. Further, the market is segmented into Verticals, such as government, transportation, healthcare, banking, financial services & insurance (BFSI), retail, and others. The market is also segmented on the basis of its types, which includes fixed & mobile biometric systems.

The global biometrics market is competitive in nature. There are a number of players present in the market. Major players in the market are:

• HID Global Corporation
• Cross Match Technologies
• Gemalto NV
• M2SYS Technologies
• Aware Inc,
• And others.

All these companies try to satisfy new customers and to fulfil their fast shifting requirements. These companies also aim at acquiring start-ups and entering into partnership agreements to gain a competitive advantage. For instance, In January 2019, BIO-key International, Inc., entered into a partnership agreement with BrightArrow Technologies & identiMetrics to develop identiMetrics RallyPoint Control™, a biometric communication and messaging software system. In the same month, Identity Devices Sweden AB (Identity Devices) & Fingerprint Cards AB entered into a partnership. In December 2018, reputed banking group of Italy, Intesa Sanpaolo awarded a contract to Gemalto to develop first Mastercard biometric contactless payment card. In September 2018, HID Global Corporation acquired Crossmatch Technologies.

Key findings of the global biometrics market:

• North America is the leader in the overall biometrics market
• The emergence of mobile biometrics and increasing adoption of multimodal systems are driving market growth
• Asia Pacific market is expected to be the fastest evolving market for biometrics
• Adoption of biometrics ranging from healthcare to financial end user industry is on the rise
• Fingerprint Recognition, Iris Recognition & Facial Recognition are most the most utilized & key biometric technologies