A biometric system provides
a high degree of accuracy and security. The emergent adoption of the technology
in the e-commerce industry for secure payments, growing applications within the
finance industry, and increasing security concerns are anticipated to propel
the market during the forecast period. With biometric technology, there are
reduced frauds and security breaches as compared to traditional methods like
the use of tokens and passwords. Surging demand for biometric technology
across various applications is estimated to favor the growth of the market over
the coming years. The Global Biometric System market will experience
significant growth during the forecast timeline 2019-2025. Biometric refers to
a diverse set of technologies used for measuring and evaluating human body
characteristics, such as fingerprints, irises, and retinas, vocal and facial
patterns for confirmation and identification purposes.
To counter security threats
biometric technology is used by several verticals in public, private, and
commercial sectors. Some of the key factors that are driving the market growth
include advancement in technologies, growing applications in commercial &
government sectors, and increasing demand for improved security systems in
organizations. Government initiatives like issuance of e-passports and
emergence of e-banking and visa employing biometric systems for identification
and authentication purposes have been immensely enhancing the use of biometric
technology. Furthermore, increased usage in criminal identification coupled
with government initiatives contributes to significant biometric market
demand. With continuous technological innovations and advancements, mobile
banking has witnessed high acceptance among consumers due to its security
feature that has further pushed the industry growth.
Market: Authentication Type Insights
On the basis of the type, the
biometric system market is categorized as Single-Factor and Multifactor
authentication. Single-Factor authentication segment holds the largest market
share of the entire biometric system market during the forecast period. Single-Factor
authentication includes Fingerprint recognition, Iris recognition, palm print
recognition, Face recognition, Signature recognition, Voice recognition, and
others. Among them, Fingerprint scanning is the most extensively used biometri authentication technique. Fingerprint biometric technique is used for
attendance and background check of employees heightened usage in law
enforcement and civil applications. Contactless biometric techniques like hand
palm print biometrics recognition is projected to register significant growth
over the forecast period. Multifactor authentication includes Smart card with
biometric, Pin with biometric, and Multimodal biometric.
System Market: Functionality Type Analysis
Global biometric system market has
been segmented based on functionality type as Contact, Non-Contact, and
Combined. Contacted functionality segment leads the overall market. The
fingerprint is the dominant contacted technology for various sectors such as
financial institution, education, defense & military, and others. The
extensive adoption and rising implementation of fingerprint recognition systems
are propelling the market for contact-based functionality. Though, the market
of noncontact biometric systems is anticipated to be the fastest growing
segment by 2025.
System Market: Application Analysis
On the basis of the application, the biometric system
market is segmented into Government, Military & Defense, Healthcare,
Banking & Finance, Travel & Immigration, Automotive, and Others. Travel
& immigration sector is the leading application segment in 2017 due to the
rising need for security across border-crossing points, counter issues like
identity theft and illegal migration as well as growing travel and tourism
activities across Border. Government organizations and defense services are
further projected to experience a sharp upsurge in the demand for technology.
In addition, it is used in banking and finance to prevent frauds. The biometric
market will have a solid effect on the future of automotive and logistics
applications, providing vehicle safety and tracking systems. This is further
expected to positively influence the expansion of the market.
Market: Regional Insights
Geographically, the biometric system market is analyzed
across North America, Europe, Asia Pacific, Middle East & Africa, and Latin
America. North America is the dominating region of the biometric system
industry due to the presence of major IT companies, increasing travel &
tourism activities across the region and growing government support. The Asia
Pacific is the fastest growing region during the forecast period due to growing
awareness about the technology. Countries like China and India are the leading
countries in this region. Additionally, the UIDAI (Aadhar Card) project in
India, using face, fingerprints, and eyes biometrics is anticipated to provide
new opportunities to the market.
Objective of the
analyze and forecast market size of the global biometric system market in
terms of value.
examine the careful market segmentation and forecast the market size,
in terms value, on the basis of region by
segmenting biometric system market into five regions, namely,
North America, Europe, Asia Pacific, Middle East& Africa, Latin
America and their leading
· To outline, categorized and
forecast the global biometric system market on the basis of authentication
type, functionality type and application.
examine competitive developments like technological advancement, services,
and regulative framework within the global biometric system
highlight the impact
analysis of the factors, affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
profile the key players and comprehensively analyze their market shares along
with detailing the competitive landscape for market leaders.
System Market: Competitive Landscape
Companies such as Safran,
NEC corporation, Thales, Fujitsu limited, ASSA ABLOY, Precise Biometrics, 3M
Cognent, Secunet Security Networks, Hitachi, Cross Match Technologies, Stanley
Black & Decker, Cognitec Systems, Daon, Facebanx, BIO-key International,
Securiport, M2SYS Technology, Suprema, Qualcomm, Fulcrum Biometrics, and VASCO
Data Security International are the leading players of biometric system market
across the globe.
Key Target Audience:
Market research and consulting firms
Global biometric system manufacturers
Research organizations and consulting
Organizations, associations and alliances
related to biometric system market
Scope of the Report
By Authentication Type
By Functionality Type
Military & Defense
Banking & Finance
Travel & Immigration
In addition, the
report provides analysis of the biometric system market with respect to the
following geographic segments and their high performing regions:
Rest of Europe
Rest of APAC
Rest of Latin
Rest of MEA
Business Questions answer by the report
How will the market drivers, restraints
and opportunities affect the market dynamics?
What will be the market size in terms of value
and volume and market statistics with detailed classification
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key player
and their impact on other players.
for the Client
satisfaction is our first and last priority. And that’s why BlueWeave
Consulting offers customization according to Company’s specific needs. The
following customization options are available for the report:
With five additional company detail analysis.
Additional country analysis.
Detailed segment analysis.