The Global Biometric Authentication & Identification Market Is Expected To Grow To USD 82.9 Billion By 2030, At 14.10% Of CAGR Between 2022-2030.

Biometric Authentication & Identification Market Overview:

The economy has been largely shaped by advances in technology, from paper to electronics to digital to biometrics. These advancements have improved the operational capabilities of numerous industries, including the automotive, manufacturing, and construction sectors, in terms of better safety measures, connectivity, cost savings, and user convenience. The term "biometrics" refers to the detection of the unique physical and behavioral characteristics that a person receives at birth. Biometric technology is a technology that electronically records, processes, and measures personal characteristics and compares the resulting record with existing records. Countries and global industries are paying attention to biometric-based systems. It is a technology that companies and governments cannot ignore. It is thought to serve as a deterrent to those with malicious intent.

In a variety of contexts, biometrics have helped provide secure services. It has helped identify known suspects moving through crowded security areas such as airports, train stations, and other locations. Terrorist attacks have declined due to the creation and application of cutting-edge new technologies and concepts such as biometrics in the area of ​​anti-terrorism protection. The consumer goods segment, including smartphones, laptops, and tablets, has a much higher demand for biometrics, which significantly influences the growth of the biometrics industry. This paradigm shift affects both consumer and business markets. Additionally, the banking and finance industry has undergone significant changes thanks to advances in smartphone technology, the growing importance of connectivity and safety, and online banking.

Biometric Authentication & Identification market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Biometric Authentication & Identification market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In 2022, Assa Abloy acquired Caldwell, a window hardware producer in the window industry.
• In 2022, Assa Abloy acquired JOTEC Service & Vertiebsges.

Major Market Segments Covered in Biometric Authentication & Identification Industry Research:

Market Key Players:
Safran (France), NEC (Japan), Thales (France), Fujitsu (Japan), ASSA ABLOY (Sweden), Precise Biometrics (Sweden), Aware (US), Secunet Security Networks (Germany), Cross Match Technologies (US), Stanle, And Others.

By Type:

• Hardware
• Software
• Other

• Fixed
• Mobile
• Other

By Application:

• Government
• Consumer electronics
• Commerce
• Other

By Region:

North America will hold the largest market share, expanding at a CAGR of 16.2%. The biometric authentication and identification market in the region is driven by aspects such as funding availability, strong economy, digitization, and favorable market environment for scientific advancement. A lack of cybersecurity has forced local businesses to pay high costs as they push to integrate biometric authentication systems. Another major factor driving the deployment of biometric authentication systems in North America is the growing demand for higher security standards to prevent cyberattacks. The US government and Department of Defense are expected to create a favorable business environment for the biometric authentication and identification market, supporting the integration of these technologies in the coming years.

Europe will hold USD 5,527 million, expanding at a CAGR of 19.3%. Among them, two more prevalent applications integrated into access control or security systems in regional border security, banks, financial institutions, and enterprise end markets are biometric authentication and identity verification. European countries have long emphasized strong security systems and authentication technologies in their security standards. For example, the Immigration System (EES) was established in 2018 by the European Council for effective border control in the Schengen Area and has undergone continuous development and updates to date. The technology has helped ensure multiple variables, including increased border automation, the fight against terrorism, improved identity fraud detection, and unauthorized short-term stays for non-EU tourists.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Drivers

• Data Breach and Cybersecurity Threats - Creating Demand for Secure Biometric Solutions
  Advancement of technology to utilize next-generation biometric solutions (AI-based and multi-biometric solutions)

• Lack of a standardized regulatory framework specific to biometric data protection
• The cost issue of rolling out a biometric solution directly to end users as a paid service

• Moving to digital and contactless ID distribution rather than physical/plastic ID credentials

Biometric Authentication & Identification Market report scope:

Crucial Points from this Biometric Authentication & Identification Report

• Estimate Biometric Authentication & Identification market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Biometric Authentication & Identification market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Biometric Authentication & Identification market?

The Biometric Authentication & Identification Market is growing at a CAGR of 14.1% During the Forecast Period.

 What are the key types of Biometric Authentication & Identification market?

Hardware, Software

What are the key applications of Biometric Authentication & Identification market?

Government, Consumer electronics, Commerce                              

Who are the key players in Biometric Authentication & Identification market?

Safran (France), NEC (Japan), Thales (France), Fujitsu (Japan), ASSA ABLOY (Sweden), Precise Biometrics (Sweden), Aware (US), Secunet Security Networks (Germany), Cross Match Technologies (US), Stanle, And others.