The biometric technologies market size is projected to reach US$ 118.35 billion by 2030 from US$ 37.85 billion in 2022. The market is expected to register a CAGR of 15.3% during 2022–2030. Increasing use of biometric systems at airports is likely to remain a key trend in the market.
Biometrics involves the evaluation and statistical analysis of distinct physical and behavioral traits of individuals. The technology is primarily used for identification and access control; nonetheless, it is also employed to verify the identities of individuals put under observation. Biometric authentication serves the purpose of reliably identifying individuals based on their intrinsic physical or behavioral characteristics. The biometric technologies market report emphasizes the key factors driving the market and prominent company developments.
Specific physical and behavioral traits identified and analyzed by biometrics systems include iris or retinal patterns, voice patterns, fingerprints, facial features, and behavioral traits such as gait or typing rhythm. Fingerprint scanners are one of the most used biometric authentication modalities across the world; they capture unique patterns of valleys or ridges on an individual’s fingertip. Biometric technologies are becoming more and more important in daily security tasks. These unique identification features of individuals are utilized as passwords for phones, computers, and laptops; moreover, they are also used to control access to rooms and buildings. Once this biometric data is scanned, it is stored for performing similar operations in the future. Usually, biometric data is stored and encrypted within the device or in a remote server. Biometric technologies are most often used for authentication, identification, and access control purposes in numerous industries. Soaring demand for biometric technologies in industries such as healthcare, security, banking, financial services, and insurance (BFSI) contributes significantly to the overall biometric technologies market growth.
A rise in the global population and rapid urbanization drives the consumer electronics and IT sectors. The expansion of the consumer electronics industry, coupled with the rising demand for smartphones, tablets, laptops, smartwatches, and access control systems, contributes significantly to the expansion of the biometric technologies market size. Consumers are highly concerned about maintaining the privacy of their data and personal information, which reflects a high demand for biometric authentication features integrated into smartphones, tablets, laptops, smartwatches, and other consumer electronic devices. Fingerprint scanners are highly integrated into smartphones and tablets to provide additional security to consumers. The rising use of biometric technologies in consumer electronics is a key factor contributing to the growth of the biometric technologies market.
Government bodies in different countries use biometric technologies for various verification purposes, such as national ID systems, border control infrastructure, or welfare program verification. The adoption of biometric technologies in government operations often sets standards for data formats and systems, leading to wider adoption in the industrial sector and economies of scale for manufacturers. Biometric technologies are being deployed in several government projects. In December 2023, the Citizenship and Immigration Services agency signed a contract valued at US$ 282.5 million with Amentum (Virginia) to install biometric systems to help process lawful immigration applications at 130 CIS Application Support Center (ASC) locations. The agency awarded a five-year contract worth US$ 407 million to Amentum in September 2023 to automate the process of collecting biometric and other data from people applying to live in the country. Further, in December 2023, the Government of India announced that a person eligible for the issuance of Aadhaar cards can proceed with enrolment using an iris scan in case fingerprint scanning is not available or feasible. Increased use of biometrics in government and commercial sectors bolsters the biometric technology market.
Technological advancements in biometric technologies are focused on enhancing their versatility, security, and reach to the masses. Artificial Intelligence (AI) and Machine Learning (ML) further contribute to the improvement of the accuracy and reliability of biometric systems, lowering the possibilities of false positives and negatives, which would have a positive impact on security and user confidence. The expansion of AI-driven biometrics, particularly facial and behavioral biometrics (gait, voice, and accent recognition), is likely to fuel the emergence of new forms of real-time biometric identity verification through on-premises cameras. Biometric authentication technology has become more prevalent in the industrial sector with the most recent AI advancements. According to IBM, 20% of breaches are the result of compromised credentials.
Moreover, detecting and addressing a data breach can take an average of 287 days, which further worsens the impact. AI-based security solutions are likely to be instrumental for businesses to stay competitive in any sector. IBM mentions that 25% of companies had fully implemented AI-based security in place as of 2021, while 40% had completed partial implementation.
Key segments that contributed to the derivation of the biometric technologies market analysis are component, type, authentication type, and end user.
The geographic scope of the Biometric Technologies market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominated the biometric technologies market share in 2022. The market in this region is segmented into the US, Canada, and Mexico. The market in North America experiences strong and steady growth. A robust economy and government support result in a widescale adoption of high-tech products, hardware, software, and other components across several industries in the US. The market in North America is anticipated to expand at a significant rate during the forecast period owing to the surging demand for biometrics solutions from the IT sector and the rising number of phishing attacks. This encourages market players to develop advanced software to protect their customers from credential theft. For instance, in November 2023, Accu-Time Systems, Inc. announced the launch of the Only|You Face facial recognition system for providing secure, safe, and touchless timekeeping workflows. Only|You Face provides a more hygienic alternative to fingerprint readers or keypads. In Canada, the government is embracing biometrics technologies to strengthen national security measures. Stringent government rules and regulations related to the use of biometrics are driving the market. For example, in January 2024, the Privacy Commissioner of Canada (OPC) drafted guidelines related to the use of biometrics for appropriate purposes. These guidelines refrained from profiling or categorization that leads to unfair, unethical, or discriminatory treatment contrary to human rights law.
The regional trends and factors influencing the Biometric Technologies Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Biometric Technologies Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 37.85 Billion |
| Market Size by 2030 | US$ 118.35 Billion |
| Global CAGR (2022 - 2030) | 15.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Biometric Technologies Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Biometric Technologies Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The biometric technologies market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the biometric technologies market are listed below:
The “Biometric Technologies Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies – Biometric Technologies Market
The biometric technologies market is expected to register a CAGR of 15.3% during 2022–2030
The biometric technologies market size is projected to reach US$ 118.35 billion by 2030
North America dominated the biometric technologies market in 2022.
The rising use of biometric technologies in consumer electronics and expanding application range in the government sector are expected to drive the biometric technologies market.
Increasing the use of biometric systems at airports is likely to remain a key trend in the market.
Aware Inc, Thales SA, Cognitec Systems GmbH, NEC Corp, IDEMIA France SAS, HID Global Corp, Fujitsu Ltd, Leidos Holdings Inc, M2SYS Technology, and Precise Biometrics AB are among the leading payers operating in the biometric technologies market.