Biometric Authentication & Identification Industry Projected To Grow by 2027

Author: Market News

As the global population is becoming more concerned for security and safety, the Biometrics Authentication And Identification Market is booming at rapid growth rate and is adopted by almost all applications such as Government, Healthcare, Enterprises, Banking and Financial Institutions, Consumer Electronics and Retail and Commercial verticals.

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The global Biometrics Market trends are shifting towards mobile biometrics devices from fixed biometrics devices, and also, the trend of touch-less biometrics is emerging. The biometric devices capture both physiological and behavioural aspects of human beings. In terms of product, the biometrics devices would include products such as fingerprint scanners, facial recognition devices, vein pattern scanners, iris and retina scanners, voice modulation devices, and multimodal devices among others. The integration of biometrics devices in wearable products and rise of portable biometrics devices are the factors that are driving the market.

The biometric authentication and identification market has a very high potential in future. The upcoming wave of biometrics devices is likely to shake number of industries such as Healthcare, Retail and Commerce, Banking and Financial Institutions, Consumer Electronics and many others. Some of the challenges that these devices faced include expensive products, privacy concerns, and acceptance of technical up gradation.

Industry News

December. 2017 - Norwegian biometrics firm IDEX has revealed a new large area sensor that is suited to use on biometric cards. Based on IDEX's off-chip technology, the bendable sensor leverages the company's advanced ASIC for usability in biometric card applications. IDEX expects to begin sampling its large area sensor to customers in the first half of 2018.

October, 2017 - Australia’s passport authority is building in-house a new system to handle its facial recognition operations in preparation for the high availability that will be required from two separate government biometrics initiatives.

December, 2017 - Japan’s AEON Bank is trailing a biometrics authentication system developed by Mofiria Corporation at its ATMs and teller windows, allowing clients to make transactions without a bank card or PIN. The Mofiria solution combines both finger vein and fingerprint authentication technologies. Mofiria is providing the bank with the hybrid biometrics device and related software library for finger vein authentication.

Global Biometric Authentication & Identification Market - Competitive Analysis

Biometric devices and applications have marked its presence in government organizations, private outfits and institutional setups across the globe. It has become a primary identification method for civil application in many developed as well as developing countries. Biometrics is extensively being used in high security physical as well as logical access. High security military area, nuclear reactors, weapon development facilities, etc. are using biometrics to safeguard the facility and keep intruders away. It is also being used in border control, where identity of people, seeking entry in a country, are verified against what is on record, and unknown people are identified with automated biometric recognition. Biometric devices and applications seem to taking over the world by storm, however, in terms of market penetration, they are still their infancy.

Key Players:

Safran SA (France), NEC Corporation (Japan), Fujitsu Ltd. (Japan), BIO-Key International, Inc. (U.S.), Precise Biometrics AB (Sweden), Secunet Security Networks AG (Germany), Thales SA (France), Aware, Inc. (U.S.), Cognitec Systems GmbH (Germany), Cross Match Technologies (U.S.), Fulcrum Biometrics, LLC (U.S.), Daon, Inc. (U.S.), Facebanx (U.K.), and 3M Cogent, Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Mobile Security Market.

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Global Biometric Authentication & Identification Market - Segmentation

The Biometric Authentication Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by authentication type: Comprises Single Factor Authentication (Fingerprint Recognition, Iris Recognition, Palm Print Recognition, Face Recognition, Vein Recognition, Signature Recognition), Multi-Factor Authentication (Biometrics combined with Smart Card Technology, Biometrics combined with Pin Technology)

Segmentation by Motility: Comprises Fixed and Mobile

Segmentation by component: Comprises hardware (Fingerprint readers, Scanners, Camera)

Segmentation by Application : Comprises Enterprise, Banking and financial institutions, Government, Healthcare, Consumer electronics and Retail and commerce among others.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Global Biometric Authentication & Identification Market - Regional Analysis

North America lead the market for global biometric authentication & identification in 2016, followed by Europe and Asia Pacific. The North America has made considerable investments in setting up biometrics-based security solutions at its borders and airports through its customs and border protection (CBP), a government agency to monitor the influx of immigrants and tourists. All these developments have led to the growth of the biometric system market in North America.

Asia Pacific is adapting biometric systems at a very rapid speed. Ongoing government projects which include issuance of e-passports & visas, and unique identification cards under the Aadhar System (in INDIA), have played a major role in boosting demand for biometric systems in Asia Pacific. Growing digitization in the government sector is expected to further propel use of biometric technology in the country over the next five years

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