Global Biometric Technologies Market Overview – Market Growth Analysis And Key Drivers

The Biometric Technologies Global Market Report 2023, provides comprehensive information on the biometric technologies market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

 

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As per The Business Research Company’s Biometric Technologies Global Market Report 2023, the market size is expected to grow from $46.38 billion in 2022 to $52.85 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global biometric technologies market size is expected to grow to $87.16 billion in 2027 at a CAGR of 13.3%.

 

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Technological advancements are a key trend in gaining popularity in the biometric technologies market. Major companies operating in the biometric technology market are focused on developing innovative solutions using artificial intelligence to strengthen their position in the market. For instance, in March 2022, Touchless Biometric Systems (TBS), a Switzerland-based biometric specialist and security system supplier, introduced 3D Fly, an innovative sensor offering on-the-fly user identification. The 3D Fly sensor captures a high-resolution picture of the complete hand and extracts the biometric features of up to four fingers, which results in superior recognition performance. It uses AI-assisted hand recognition technology, combined with fast data processing, to identify a person within a second. Users can exhibit their hands during the procedure while moving near 3D Fly and past the speed gate without stopping or slowing down.

 

The biometric technologies market is segmented:

1) By Type: Contact-Based, Contact-Less, Hybrid

2) By Offering: Hardware, Software

3) By Authentication Type: Single-Factor Authentication, Multi-Factor Authentication

4) By Application: Face, Hand Geometry, Voice, Signature, Iris, Automated Fingerprint Identification System (AFIS), Non-Automated Fingerprint Identification System (AFIS), Other Applications

5) By Vertical: Government, Consumer Electronics, Military and Defense, Healthcare, Banking and Finance, Travel and Immigration, Automotive, Security, Other Verticals

 

Asia-Pacific was the largest region in the biometric technologies market in 2022.

 

The table of contents in TBRC’s biometric technologies market report includes:

1. Executive Summary

2. Biometric Technologies Market Characteristics

3. Biometric Technologies Market Trends And Strategies

4. Biometric Technologies Market - Macro Economic Scenario

5. Biometric Technologies Market Size And Growth

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27. Biometric Technologies Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Biometric Technologies Market

29. Biometric Technologies Market Future Outlook and Potential Analysis

30. Appendix

 

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