Global Biometrics Market Report 2022-2026 & 2031

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Global Biometrics Market

Global Biometrics Market

Global Biometrics Market

Dublin, November 14, 2022 (GLOBE NEWSWIRE) – The “Global Biometrics Market Report 2022” Report added to ResearchAndMarkets.com Show.

The global biometrics market is expected to grow from $27.88 billion in 2021 to $32.48 billion in 2022, at a compound annual growth rate (CAGR) of 16.50%. The biometrics market is expected to grow to $59.32 billion in 2026 with a compound annual growth rate (CAGR) of 16.25%.

North America was the largest region in the biometrics market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the Biometrics market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of biometrics include IRIS recognition, hand geometry, facial recognition, signature verification, fingerprints, voice recognition, and palmar veins. IRIS Recognizers refer to devices that capture unique patterns in the color circle of the eye to verify and authenticate identity. Biometrics including contact, non-contact and embedded devices are used by government, military, banking and finance, consumer electronics, healthcare, commercial safety, security and logistics.

The increasing use of biometric technology in consumer electronics for authentication and identification applications is driving the biometrics market. Biometric sensors are becoming a more common security feature in smartphones and other gadgets, and the lower cost of biometric technology is allowing manufacturers to integrate it into a wider range of goods.

Consumer electronics, such as access door locks, security devices, home automation, the Internet of Things, cars, game consoles, and mobile devices are increasingly using biometric technology to enhance device security. Fingerprints, face, and voice recognition have become the most common methods of authenticating an individual for access and payment. It’s faster, simpler, and more secure than standard credentials or PINs, which are hard to remember and easy to steal.

According to a survey conducted by Visa in May 2022, 86% of consumers are interested in using biometrics to authenticate their identity to make payments, 70% of consumers respond that biometrics are easier to use, and 46% believe they are more secure than passwords or PINs.

Strategic partnership is a major trend that is gaining popularity in the biometrics market. Companies operating in the biometrics market are focused on entering into a strategic partnership with technology to expand their product development and business reach.

In August 2021, NEXT Biometrics, a Norway-based company that provides high-security fingerprint sensors to device and product manufacturers, entered into a partnership agreement with Paravision to provide dual authentication technologies to customers who require face and fingerprint biometrics solutions. Paravision is a US-based computer vision company that specializes in facial recognition.

In March 2022, LexisNexis Risk Solutions, a data and analytics company serving a variety of sectors with data services and technology, acquired BehavioSec for an undisclosed amount. With this acquisition, LexisNexis will integrate BehavioSec solutions into its risk solutions business services, enhancing the company’s hardware and digital identity-focused capabilities, such as the LexisNexis ThreatMetrix. BehavioSec is a Sweden-based behavioral biometrics company that uses end-user activities with Internet and mobile applications to provide continuous authentication.

The countries covered in the Biometrics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The major players in the biometrics market are:

  • Lidus Holdings Inc.

  • NEC . company

  • Fujitsu Ltd.

  • Aware Inc

  • Nuance Communications Inc

  • Edemia

  • Cognitic Systems

  • Asa Abloy

  • Key Bio International

  • Thales Group

  • Stanley Converged Security Solutions Inc

  • M2SYS Technology

  • ImageWare Systems Inc

  • Accu-Time Systems

  • IDTECK

  • Siemens

  • RCG Holdings Ltd

  • Supreme Company

  • Down Company

  • DERMALOG LOTION SYSTEMS

  • Accenture

Main topics covered:

1. Executive Summary

2. Biometric market characteristics

3. Biometrics Market Trends & Strategies

4. Impact of COVID-19 on Biometrics

5. Biometrics market size and growth
5.1 Global Biometrics Historic Market, 2016-2021, $Billion
5.1.1. market drivers
5.1.2. Market Restrictions
5.2 Global Biometrics Forecast Market, 2021-2026F, 2031F, $1 billion
5.2.1. market drivers
5.2.2. market restrictions

6. Biometrics Market Segmentation
6.1 Global Biometrics Market, Segmentation by Biometric Type, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, $1 Billion

  • Recognize the iris of the eye

  • hand geometry

  • face recognition

  • Signature Verification

  • fingerprint

  • Voice recognition

  • palm vein

6.2 Global Biometrics Market Segmentation by Function, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $1 Billion

  • Contact

  • no contact

  • sum

6.3 Global Biometrics Market, Segmentation by End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $1 Billion

7. Regional and Country Biometrics Market Analysis
7.1 Global Biometrics Market, Segmented by Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $Billion
7.2 Global Biometrics Market, Segmented by Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $1 Billion

For more information about this report visit https://www.researchandmarkets.com/r/mw5g05

Attached

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