Biometric System Market by Authentication Type (Single-Factor and Multifactor), Functionality Type (Contact, Non-Contact, and Combined), Component (Hardware and Software), Application, and Geography - Global Forecast to 2023
By: marketsandmarkets.com
Publishing Date: July 2018
Report Code: SE 3449
[186 Pages Report] According to the new market research report, the biometrics system market was valued at USD 13.89 billion in 2017 and is expected to reach USD 41.80 billion by 2023, at a CAGR of 19.99% during the forecast period. The base year used for this study is 2017, and the forecast period is 20182023.
Following are the objectives of this study:
- To describe and forecast the overall biometric system market, in terms of value, segmented on the basis of authentication type, functionality type, component, and application
- To forecast the market size for various segments, by region North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the biometric system market
- To provide biometric system value chain analysis
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the overall biometric system market for stakeholders by identifying the high-growth segments
- To profile key players and comprehensively analyze their market ranking in terms of revenues and core competencies and provide details of the competitive landscape for the biometric system market leaders
- To analyze growth strategies such as contracts, mergers and acquisitions, product launches and developments, and research and development (R&D) in the overall biometric system market
To estimate the size of the biometrics system market, top-down and bottom-up approaches have been considered in the study. This entire research methodology includes the study of annual and financial reports of top players; presentations; press releases; journals; paid databases; associations such as International Biometrics + Identity Association (IBIA), The International Biometric Societys (IBS), European Association For Biometrics, Biometrics Institute, Western North American Region (WNAR), and Swedish National Biometric Association (SNBA); and interviews with industry experts. The top-down approach was used to estimate the overall market from the addition of estimated market sizes of all the segments via percentage splits from secondary and primary research.
To know about the assumptions considered for the study, download the pdf brochure
The biometrics ecosystem comprises companies such as Safran (France), NEC (Japan) Thales (France), Fujitsu (Japan), ASSA ABLOY (Sweden), Precise Biometrics (Sweden), Aware (US), Secunet Security Networks (Germany), Cross Match Technologies (US), and Stanley Black & Decker (France). This report also covers the following prominent players: Cognitec Systems (Germany), Daon (US), Facebanx (UK), BIO-key International (US), Securiport (US), M2SYS Technology (US), Suprema (South Korea), Qualcomm (US), Fulcrum Biometrics (US), and VASCO Data Security International (US).
Product Launch, Development, and Deployment (20152018)
|
Month & Year |
Company |
Description |
|
April 2018 |
Safran |
Safran-owned IDEMIA launched MorphoWave compact with touchless 3D fingerprint technology and frictionless biometric access. The device is 86% smaller than MorphoWave Tower. It can be deployed at large manufacturing sites, universities, banks, and financial institutions. |
|
October 2017 |
Aware |
Aware launched Knomi, which is a mobile biometric authentication framework enabled with the face, voice, and keystroke recognition types. |
Expansion, Exhibition, Award, and Certification (20162018)
|
Month & Year |
Company |
Description |
|
April 2018 |
NEC |
The iris recognition technology of NEC was recognized as the highest matching accuracy evaluation procedure by the US National Institute of Standards and Technology (NIST). |
|
November 2016 |
Thales |
Thales exhibited its integrated security solutions at the UK Security Expo 2016. The company also showcased its solutions such as commercial encryption solutions, border security, smart cities and urban security systems, cybersecurity, civil biometrics, information system security, optronics solutions, persistent surveillance solutions, CBRN, critical infrastructure protection, air traffic management, and training and simulation in the exhibition. |
Partnership, Agreement, and Contract (20152018)
|
Month & Year |
Company |
Description |
|
March 2018 |
Safran |
IDEMIA signed a contract in March 2018 to help the Australian Department of Home Affairs with visa, border crossing, and citizenship applications. The company provided biometric matching engine MorphoBSS to EBIS |
|
January 2018 |
Fujitsu |
Fujitsu signed an agreement with ImageWare Systems to expand its biometric security solutions portfolio to mobile devices category. |
Merger and Acquisition (20162018)
|
Month & Year |
Company |
Description |
|
March 2018 |
Thales |
Thales acquired Gemalto, a key player in digital security, at USD 5.5 billion (USD 61.57 per share cum dividend). Under this agreement, Thales combined its digital assets with Gemalto and increased the R&D investments in the digital security businesses. |
|
May 2017 |
Safran |
Oberthur Technologies (OT) and Safran Identity & Security (Morpho) merged to form IDEMIA. The company offers biometric products through IDEMIA. IDEMIA provides products and services through segments namely financial institutions, mobile operators, connected objects, citizen identity, and public security. |
Target Audience
- Biometric system manufacturers
- Biometric hardware and software manufacturers
- Biometric technology-enabled product manufacturers
- Sensor manufacturers
- Software solution providers and component suppliers
- End users: Commercial, residential, military and defense, government, industrial, banking and finance, among others
- Research institutes and organizations
- Analysts and strategic business planners
- Market research and consulting firms
This study answers several questions for stakeholders, primarily which market segments to focus on in the next 25 years for prioritizing efforts and investments.
Biometrics System Market Segmentation
By Authentication
- Single-factor authentication
- Multifactor authentication
By Single-Factor Authentication
- Fingerprint recognition [Automated fingerprint identification system (AFIS) and Non-AFIS]
- Iris recognition
- Palm Print recognition
- Face recognition
- Vein recognition
- Signature recognition
- Voice recognition
- Other biometrics (Keystroke, DNA, gait, optoacoustic)
By Multifactor Authentication
- Smart card with biometrics
- Pin with biometrics
- Multimodal (two -factor biometrics and three-factor biometrics)
By Application
- Government
- Military and defense
- Healthcare
- Banking and finance
- Consumer electronics
- Security (residential security and commercial security)
- Travel and Immigration
- Automotive
- Others (utility, industrial, and entertainment)
By Functionality Type
- Contact
- Non-contact
- Combined
By Component
- Hardware [Fingerprint readers, scanners (live scanner, palm vein scanner), camera (eye/iris /face/retina camera), others (RFID reader, microphone, speaker, connectivity IC)]
- Software
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of APAC
- RoW
- South America
- Middle East and Africa
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for this report:
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company
Geographic Analysis
- Further breakdown of the biometrics system market in Rest of APAC can be provided for into New Zealand and Australia.
- In Further breakdown of the biometrics system market in RoW can be provided into Brazil and Argentina
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
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Table of Contents
1 Introduction (Page No. - 16)
1.1 Study Objective
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope:
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 20)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Data From Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing the Market Size By Bottom-Up Analysis (Demand Side)
2.2.1.2 Approach for Capturing Market Size Considering Various Players in Value Chain of Biometrics System Market
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis (Supply Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.4.1 Assumptions
3 Executive Summary (Page No. - 30)
4 Premium Insights (Page No. - 37)
4.1 Attractive Opportunities in Biometrics System Market (20182023)
4.2 Face Recognition Market for Security, By Application Type
4.3 Contact-Based System Market, By Application
4.4 Market for Travel & Immigration for Single-Factor Authentication, By Type
4.5 Market in APAC, By Application
4.6 North American Biometrics System Market, By Country
5 Market Overview (Page No. - 41)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Government Initiatives to Adopt Biometrics
5.2.1.2 Growing Need for Surveillance and Security Owing to the Threats of Terrorist Attacks
5.2.1.3 Proliferation of Biometric Technology in Applications Such as Financial Institutes, Retail, and Automotive
5.2.1.4 Increased Convenience, Secure Identity Management, and Superior Human Resource Management
5.2.2 Restraint
5.2.2.1 High Deployment Cost
5.2.3 Opportunities
5.2.3.1 Technological Upgrades and Advancements
5.2.4 Challenge
5.2.4.1 Threat of Privacy and Data Breach
5.3 Value Chain Analysis
6 Biometric System Market, By Authentication Type (Page No. - 50)
6.1 Introduction
6.2 Single-Factor Authentication
6.2.1 Fingerprint Recognition
6.2.1.1 AFIS
6.2.1.2 Non-AFIS
6.2.2 IRIS Recognition
6.2.3 Palm Print Recognition
6.2.4 Face Recognition
6.2.5 Vein Recognition
6.2.6 Signature Recognition
6.2.7 Voice Recognition
6.2.8 Others
6.2.8.1 Dna Recognition
6.2.8.2 Keystroke Recognition
6.2.8.3 Gait Recognition
6.2.8.4 Otoacoustic Recognition
6.3 Multifactor Authentication
6.3.1 Smart Card With Biometrics
6.3.2 Pin With Biometrics
6.3.3 Multimodal Biometrics
6.3.3.1 Two-Factor Biometrics
6.3.3.2 Three-Factor Biometrics
7 Biometric System Market, By Component (Page No. - 74)
7.1 Introduction
7.2 Hardware
7.2.1 Fingerprint Readers
7.2.2 Scanners
7.2.3 Camera
7.2.4 Others (Rfid Reader, Microphone, Speaker, Connectivity IC)
7.3 Software
8 Biometric System Market, By Functionality Type (Page No. - 79)
8.1 Introduction
8.2 Contact Functionality
8.3 Noncontact Functionality
8.4 Combined Functionality
9 Biometric System Market, By Application (Page No. - 87)
9.1 Introduction
9.2 Government
9.3 Military & Defense
9.4 Healthcare
9.5 Banking & Finance
9.6 Consumer Electronics
9.7 Travel & Immigration
9.8 Automotive
9.9 Security
9.9.1 Residential Security
9.9.2 Commercial Security
9.10 Others (Entertainment, Industrial, & Utility)
10 Geographic Analysis (Page No. - 115)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.2 Japan
10.4.3 South Korea
10.4.4 India
10.4.5 Rest of APAC
10.5 Rest of the World (RoW)
10.5.1 Middle East & Africa
10.5.2 South America
11 Competitive Landscape (Page No. - 133)
11.1 Introduction
11.2 Ranking Analysis
11.3 Competitive Scenario
11.3.1 Product Launch, Development, & Deployment
11.3.2 Expansion, Exhibition, Award, & Recognition
11.3.3 Partnership, Agreement, & Contract
11.3.4 Merger & Acquisition
12 Company Profiles (Page No. - 139)
12.1 Key Players
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
12.1.1 Thales
12.1.2 Safran
12.1.3 NEC
12.1.4 Assa Abloy
12.1.5 Fujitsu
12.1.6 Precise Biometrics
12.1.7 Aware
12.1.8 Secunet Security Networks
12.1.9 Cross Match Technologies
12.1.10 Stanley Black & Decker
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
12.2 Other Key Companies
12.2.1 Cognitec Systems
12.2.2 Daon
12.2.3 Facebanx
12.2.4 Bio-Key International
12.2.5 Securiport
12.2.6 M2sys Technology
12.2.7 Suprema
12.2.8 Qualcomm
12.2.9 Fulcrum Biometrics
12.2.10 Vasco Data Security International
13 Appendix (Page No. - 178)
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (93 Tables)
Table 1 Comparative Account of Various Biometrics Authentication Types
Table 2 Biometrics System Market, By Authentication Type, 20162023 (USD Million)
Table 3 Market for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 4 Fingerprint Recognition Market, By Application, 20162023 (USD Million)
Table 5 Fingerprint Recognition Market for Security, By Application Type, 20162023 (USD Million)
Table 6 Market for Fingerprint Recognition, By Type, 20162023 (USD Million)
Table 7 IRIS Recognition Market, By Application, 20162023 (USD Million)
Table 8 IRIS Recognition Market for Security, By Application Type, 20162023 (USD Million)
Table 9 Palm Recognition Market, By Application, 20162023 (USD Million)
Table 10 Palm Recognition Market for Security, By Application Type, 20162023 (USD Million)
Table 11 Face Recognition Market, By Application, 20162023 (USD Million)
Table 12 Face Recognition Market for Security, By Application Type, 20162023 (USD Million)
Table 13 Vein Recognition Market, By Application, 20162023 (USD Million)
Table 14 Vein Recognition Market, By Security Application, 20162023 (USD Million)
Table 15 Signature Recognition Market, By Application, 20162023 (USD Million)
Table 16 Signature Recognition Market, By Security Application, 20162023 (USD Million)
Table 17 Voice Recognition Market, By Application, 20162023 (USD Million)
Table 18 Voice Recognition Market, By Security Application, 20162023 (USD Million)
Table 19 Other Recognition Market, By Application, 20162023 (USD Million)
Table 20 Other Recognition Market, By Security Application, 20162023 (USD Million)
Table 21 Biometrics System Market for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 22 Smart Card With Biometrics Market, By Application, 20162023 (USD Million)
Table 23 Smart Card With Biometrics Market for Security, By Application Type, 20162023 (USD Million)
Table 24 Pin With Biometrics Market, By Application, 20162023 (USD Million)
Table 25 Pin With Biometrics Market for Security, By Application Type, 20162023 (USD Million)
Table 26 Market for Multimodal Authentication, By Type, 20162023 (USD Million)
Table 27 Multimodal Biometrics Market, By Application, 20162023 (USD Million)
Table 28 Multimodal Biometrics Market, By Security Application, 20162023 (USD Million)
Table 29 Biometrics System Market, By Component, 20162023 (USD Million)
Table 30 Market for Hardware, By Hardware Component, 20162023 (USD Million)
Table 31 Market, By Functionality Type, 20162023 (USD Million)
Table 32 Contact Functionality-Based Biometrics System Market, By Authentication Type, 20162023 (USD Million)
Table 33 Contact Functionality-Based Market, By Application, 20162023, (USD Million)
Table 34 Contact Functionality-Based Market for Security, Application Type, 20162023, (USD Million)
Table 35 Noncontact Functionalty-Based Market, By Authentication Type, 20162023 (USD Million)
Table 36 Noncontact Functionalty-Based Biometrics System Market, By Application, 20162023 (USD Million)
Table 37 Noncontact Functionalty-Based Market for Security, By Application Type, 20162023 (USD Million)
Table 38 Combined Functionality-Based Market, By Type, 20162023 (USD Million)
Table 39 Combined Functionality-Based Market, By Application, 20162023 (USD Million)
Table 40 Combined Functionality-Based Biometrics System Market for Security, By Application Type, (USD Million)
Table 41 Biometrics System Market, Application 20162023 (USD Million)
Table 42 Market for Security, By Application Type, 20162023 (USD Million)
Table 43 Market for Single-Factor Authentication, By Application, 20162023 (USD Million)
Table 44 Single-Factor Authentication-Based Biometrics System Market for Security, Application Type, 20162023 (USD Million)
Table 45 Multifactor Authentication-Based Market, By Application, 20162023 (USD Million)
Table 46 Multifactor Authentication-Based Market for Security, By Application Type, 20162023, (USD Million)
Table 47 Biometrics System Market for Government for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 48 Market for Government for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 49 Market for Government, By Region, 20162023, (USD Million)
Table 50 Market for Military and Defense for Single-Factor Authentication, By Type, 20162023, (USD Million)
Table 51 Biometrics System Market for Military and Defense for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 52 Market for Military and Defense, By Region, 20162023 (USD Million)
Table 53 Market for Healthcare for Single-Factor Authentication, By Type, 20162023, (USD Million)
Table 54 Market for Healthcare for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 55 Biometrics System Market for Healthcare, By Region, 20162023 (USD Million)
Table 56 Market for Banking and Finance for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 57 Market for Banking and Finance for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 58 Market for Banking and Finance, By Region, 20162023 (USD Million)
Table 59 Biometrics System Market for Consumer Electronics for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 60 Market for Consumer Electronics for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 61 Market for Consumer Electronics, By Region, 20162023, (USD Million)
Table 62 Market for Travel and Immigration for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 63 Biometrics System Market for Travel and Immigration for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 64 Market for Travel and Immigration, By Region, 20162023, (USD Million)
Table 65 Market for Automotive for Single-Factor Authentication, By Type, 20162023, (USD Million)
Table 66 Market for Automotive for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 67 Biometrics System Market for Automotive, By Region, 20162023 (USD Million)
Table 68 Market for Security for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 69 Market for Security for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 70 Market for Security, By Region, 20162023 (USD Million)
Table 71 Biometrics System Market for Residential Security for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 72 Market for Residential Security for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 73 Market for Residential Security, By Region, 20162023 (USD Million)
Table 74 Market for Commercial Security for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 75 Biometrics System Market for Commercial Security for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 76 Market for Commercial Security, By Region, 20162023 (USD Million)
Table 77 Market for Others for Single-Factor Authentication, By Type, 20162023 (USD Million)
Table 78 Market for Others for Multifactor Authentication, By Type, 20162023 (USD Million)
Table 79 Biometrics System Market for Others, By Region, 20162023 (USD Million)
Table 80 Market, By Region, 20162023, (USD Million)
Table 81 Market in North America, By Country, 20162023, (USD Million)
Table 82 Market in North America, By Application, 20162023, (USD Million)
Table 83 Biometrics System Market in Europe, By Country,20162023 (USD Million)
Table 84 Market in Europe, By Application,20162023, (USD Million)
Table 85 Market in APAC, By Country, 20162023 (USD Million)
Table 86 Market in APAC, By Application, 20162023, (USD Million)
Table 87 Biometrics System Market in RoW, By Region, 20162023 (USD Million)
Table 88 Market in RoW, By Application, 20162023 (USD Million)
Table 89 Ranking of Top 5 Players in Biometrics System Market (2017)
Table 90 Product Launch, Development, and Deployment (20152018)
Table 91 Expansion, Exhibition, Award, and Certification (20162018)
Table 92 Partnership, Agreement, and Contract (20152018)
Table 93 Merger and Acquisition (20162018)
List of Figures (49 Figures)
Figure 1 Biometrics System Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Biometrics System Market for Multifactor Authentication to Grow at Higher CAGR Between 2018 and 2023
Figure 6 Fingerprint Recognition to Hold Largest Size of Biometrics Market for Single-Factor Authentication By 2023
Figure 7 Pin With Biometrics to Hold Largest Size of Biometrics Market for Multifactor Authentication By 2023
Figure 8 Travel and Immigration to Hold Largest Size of Biometrics Market Between 2018 and 2023
Figure 9 Contact Functionality Type to Hold Largest Size of Biometrics Market Between 2018 and 2023
Figure 10 Market for Software to Grow at Higher CAGR Between 2018 and 2023
Figure 11 North America Held Largest Share of Biometrics System Market in 2017
Figure 12 Increased Convenience, Better Identity, and Superior Human Resource Management is Driving Market
Figure 13 Commercial Security to Hold Larger Size of Face Recognition Market By 2023
Figure 14 Contact-Based Market for Others to Grow at Highest CAGR Between 2018 and 2023
Figure 15 Fingerprint Recognition to Hold Largest Size of Market for Travel and Immigration Between 2018 and 2023
Figure 16 Government to Hold Largest Size of Biometrics System Market in APAC By 2023
Figure 17 US to Hold Largest Size of North American Biometrics System Market By 2023
Figure 18 Government Initiatives to Adapt Biometrics Drives Growth of Market
Figure 19 Biometrics System Value Chain , 2017
Figure 20 Single-Factor Authentication to Hold Larger Size of Biometric System Market Between 2018 and 2023
Figure 21 Fingerprint Recognition Biometric System Market for Commercial Security to Grow at Higher CAGR Between 2018 and 2023
Figure 22 Vein Recognition Market for Automotive to Grow at Highest CAGR Between 2018 and 2023
Figure 23 Multimodal to Grow at Highest CAGR Between 2018 and 2023
Figure 24 Three-Factor Biometrics Market to Grow at Higher CAGR During Forecast Period
Figure 25 Software to Hold Larger Size of Biometric System Market By 2023
Figure 26 Biometrics Hardware Market for Cameras to Grow at Highest CAGR During Forecast Period
Figure 27 Noncontact Functionality Held Largest Size of Biometric System Market Between 2018 and 2023
Figure 28 Face Recognition Held Largest Size of Market for Noncontact Functionality Between 2018 and 2023
Figure 29 Multifactor Authentication Held Largest Size of Biometric System Market for Combined Functionality Between 2018 and 2023
Figure 30 Government Held Largest Size of Biometrics System Market Between 2018 and 2023
Figure 31 Fingerprint Recognition Held Largest Size of Biometric System Market for Government During 20182023
Figure 32 Biometrics System Market for Healthcare in RoW to Grow at Highest CAGR During Forecast Period
Figure 33 Multimodal Market for Travel and Immigration to Grow Highest CAGR Between 2018 and 2023
Figure 34 Market for Commercial Security in RoW to Grow at Highest CAGR Between 2018 and 2023
Figure 35 Geographic Snapshot of Market, 20182023
Figure 36 North America: Biometrics System Market Snapshot
Figure 37 Europe: Market Snapshot
Figure 38 APAC: Market Snapshot
Figure 39 Middle East and Africa to Dominate Biometrics System Market in RoW During 20182023
Figure 40 Product Launch and Development as Key Strategy Adopted By Players in Market (20152018)
Figure 41 Thales : Company Snapshot
Figure 42 Safran: Company Snapshot
Figure 43 NEC: Company Snapshot
Figure 44 Assa Abloy: Company Snapshot
Figure 45 Fujitsu: Company Snapshot
Figure 46 Precise Biometrics: Company Snapshot
Figure 47 Aware: Company Snapshot
Figure 48 Secunet Security Networks: Company Snapshot
Figure 49 Stanley Black & Decker: Company Snapshot
The biometrics system market is estimated to be worth USD 16.80 billion by 2018 and is expected to reach USD 41.80 billion by 2023, at a CAGR of 19.99% between 2018 and 2023. Major drivers for the growth of the market are the increasing number of government initiatives to adopt biometrics; growing need for surveillance and security owing to threats of terrorist attacks; proliferation of biometric technology in application such as financial institutes, healthcare, and automotive.
Of all the major applications of biometrics systems, travel and immigration held the largest share of the biometrics system market in 2017. The increasing demand for biometrics systems in travel and immigration applications is attributed to the growing need for security across border-crossing points (BCP) as well as to the elevating implementation of biometrics system owing to increasing travel and tourism activities across BCP.
Contact functionality-based biometrics systems held the largest market share in 2017. Contact-based biometrics systems, especially fingerprint recognition systems, have been in the market for a longer period than the other 2 types. The widespread adoption and growing implementation of fingerprint recognition systems are driving the market for contact-based functionality.
Among the multifactor authentication in biometrics systems, pin with biometrics held the largest share in the biometrics system market. The systems based on both biometrics and PIN are cost-effective and use a secure method for authentication compared with other multifactor authentication systems.
The biometrics system market in RoW is expected to grow rapidly between 2018 and 2023. The market in RoW is further segmented into South America, and the Middle East and Africa, which hold a significant growth potential for the market.
In the Middle East, there is a considerable rate of adoption of biometrics in sectors such as travel and immigration, and banking and finance. The increasing travel and tourism activities, rapid airport expansion, and the government support to automate the border-crossing process across all port facilities are the major factors fueling the growth of the biometrics system market in the Middle East.
The key restraining factor for this market is the high deployment cost. Additionally, the threat of privacy and data breach is a major challenge for the market.
Companies profiled in the report are Safran (France), NEC (Japan) Thales (France), Fujitsu (Japan), ASSA ABLOY (Sweden), Precise Biometrics (Sweden), Aware (US), Secunet Security Networks (Germany), Cross Match Technologies (US), and Stanley Black & Decker (France). This report also covers the following prominent players: Cognitec Systems (Germany), Daon (US), Facebanx (UK), BIO-key International (US), Securiport (US), M2SYS Technology (US), Suprema (South Korea), Qualcomm (US), Fulcrum Biometrics (US), and VASCO Data Security International (US).
Drivers
Increasing number of government initiatives to adopt biometrics
Directives proposed by different governments worldwide to offer efficient, cost-effective, and safe services for their citizens are propelling the deployment of biometrics systems in various applications. Biometrics systems act as a trusted data source for identification that leverages contemporary technology to keep the citizen identities safe.
The biometrics system market for the government sector has been immensely boosted by the projects such as e-passports and e-visas, especially in European and North American countries, and Aadhaar system under Unique Identification Authority of India (UIDAI).
Government authorities, especially in North America and Europe, among others, have set stringent rules and regulations for the verification of tourist passports. For instance, in April 2016, the Department of Homeland Security (US) made an e-passport mandatory for visitors.
Growing need for surveillance and security owing to the threats of terrorist attacks
The growing concerns about terrorism have been a key market driver for the implementation of biometrics systems all over the world. Although there is no foolproof and easy method to counter a terrorist attack, the deployment of biometrics authentication method aids in enhancing safety at sensitive areas of the ports of entry in nations, especially at airport facilities.
Presently, in most of the technologically advancing countries, badges and tokens such as key or pass card, are used to identify authorized personnel. The system grants access to persons who possess the pass card or the badge, while in reality, badges and tokens can be easily forged, stolen, or misplaced.
Opportunities
Technological upgrades and advancements
Biometrics technology has undergone significant technological advancements in the past. The recent advancements in sensor technology and the widespread use of various devices such as computers and mobile phones offer new opportunities for the capturing of physiological and behavioral traits of human beings and analyses of the related data for biometric authentication.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
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Client Customization Problem Statement :MNM's client was interested in details regarding biometric market in consumer electronics. Solution Provided:In this customization, MnM has developed more insights beyond the scope of the report where biometric t.... In this customization, MnM has developed more insights beyond the scope of the report where biometric technology used in consumer electronics (smartphone, tablet, laptop) was provided along with details such as biometric technology type, sensor type, , consumer elctronic company using it and sensor provider. Value chain analysis and recent developments were also provided for biometrics market in consumer electronics. less... Request Customization more...
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Client Customization Problem Statement :MNM's client was interested to know about the market size for next generation biometrics in Mexico region for different application. Solution Provided:Qualitative information having market size for next generation biometrics in Mexico region for differen.... Qualitative information having market size for next generation biometrics in Mexico region for different application has been provided. less... Request Customization more...
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