Biometric System Market is expected to reach US$ 85 Billion by 2028

The biometric system market size is expected to reach US$ 85 billion by 2028; registering at a CAGR of 14.5% between 2022 and 2028, according to a new research study conducted by The Insight Partners.

Integration of Advanced Technologies in Security Solutions is Projected to Generate Growth Opportunities for Biometric System

Biometric solutions are widely adopted in response to rising security concerns. The market for biometric solutions is further driven by several innovations that mark reliability and ease of usage by eradicating the need for passwords. Biometric systems have been receiving high momentum owing to an array of applications such as legal (justice and law enforcement), government (border control and airport and healthcare), commercial (finance), and eye movements tracking (automotive, screen navigation, and aviation). These applications are projected to pave the path for the developments of more sophisticated and advanced biometric system. With continuous development in latest biometric technology, the biometric trends are evolving. Cloud-based biometric, multimodal authentication, and behavioral biometrics are state-of-the-art biometric trends estimated to further contribute toward the growth of overall biometric system market.

The biometric authentication techniques are becoming common throughout enterprise and consumer systems. Below mentioned are a few upcoming technologies for biometric authentication:

• Physical Identity Verification: Due to expansion of AI-driven biometrics, majorly in behavioral (voice, gait, and accent recognition) and facial biometrics, would accelerate new forms of real-time biometric identity verification via on-premises cameras.
• Identity Proofing: One of a key strength of biometric authentication is a belief that user must be physically present to offer biometric data. Even stronger measures, such as AI-driven video identity verification and live identity verification testing helps in prevent emerging forms of fraud identities.
• Advanced Biometric Authentication: At present, reliable and precise forms of biometrics and biometric passwords are available globally. New technologies are emphasizing on illustrating advanced biometric markers from body, all offering hard-to-fake marker for secure authentication. It consists of heartbeat pattern recognition, odor recognition, DNA signature reading, and hand geometry.
• Continuous Authentication: Authentication usually happens during login or multiple times depending on user access to different resources. In case of continuous authentication, the process utilizes behavioral patterns and other markers to maintain authentication to guarantee constant user verification over time periodically.

The above-mentioned trends are in emerging phase and are driving the scope of developing advanced biometrics for enabling continuous authentication. Similarly, identity proofing is propelling sophisticated physical identity verification in fields such as high-security compliance standards.

Assa Abloy AB; FaceFirst; Fujitsu Limited; IDEMIA (Advent International); Iris ID, Inc.; NEC Corporation; Precise Biometrics; Secunet Security Networks AG; SUPREMA; and Thales Group are among the key biometric system market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the biometric system market and its ecosystem.

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