Fingerprint Biometric Digital Scan Technology. Graphic interface showing man finger with print scanning identification. Concept of digital security and private data access by use fingerprint scanner.
The Biometrics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Biometrics Market:
https://www.thebusinessresearchcompany.com/report/biometrics-global-market-report
According to The Business Research Company’s Biometrics Global Market Report 2024, The biometrics market size has grown rapidly in recent years. It will grow from $39.12 billion in 2023 to $45.89 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to security concerns, government initiatives, rising cyber threats, increasing integration in smart devices, growing acceptance.
The biometrics market size is expected to see rapid growth in the next few years. It will grow to $83.23 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to emergence of biometric-as-a-service (BaaS), expansion in healthcare, border control and immigration, biometrics in financial services. Major trends in the forecast period include AI and machine learning integration, rapid technological advancements, mobile biometrics expansion, emphasis on data privacy and regulation.
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 low cost of biometric technology allows manufacturers to incorporate them into a larger range of goods. Consumer electronic devices such as access door locks, security devices, home automation, IoT, cars, game consoles, and mobile devices are increasingly utilizing biometric technology to enhance the security of the devices. Fingerprint, face, and voice recognition are becoming more popular methods of authenticating an individual for access and payments. They are faster, simpler, and more secure than standard credentials or PINs, which are difficult to recall and easy to steal. According to a survey conducted by Visa in May 2022, 86% of the consumers are interested in using biometrics to authenticate their identity for making payments, 70% of the consumers responded that biometrics are easier to use, and 46% believe they are more secure than passwords or PINs. Therefore, the increasing use of biometric technology in consumer electronics for authentication and identification applications is expected to boost the biometrics market during the forecast period.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=6903&type=smp
The biometrics market covered in this report is segmented –
1) By Biometric Type: IRIS Recognition, Hand Geometry, Facial Recognition, Signature Verification, Fingerprint, Voice Recognition, Palm Vein
2) By Functionality: Contact, Non-contact, Combined
3) By End-User: Government, Defense Services, Banking and Finance, Consumer Electronics, Healthcare, Commercial Safety and Security, Transport/Visa/Logistics, Other End Users
Major companies operating in the biometrics market are focused on introducing advanced solutions, such as palm vein biometric scanners, to sustain their position in the market. Palm vein biometrics scanners are devices that use near-infrared light to capture the vein pattern in a person’s palm and produce a unique biometric template. For instance, in July 2023, Keyo, a US-based company that develops biometric identification software, launched Keyo Wave+. Vehicle Keyo Wave+ is a handheld palm vein biometrics scanner used in payments, access control, ticketing, identification, and time and attendance. Keyo Wave+ has a smartphone-sized screen, service organization control type 2 (SOC2)-compliant data protection, and flexibility to support bespoke applications. It can be mounted to a countertop or wall and is designed to support billions of users.
The biometrics market report table of contents includes:
1. Executive Summary
2.Biometrics Market Characteristics
3.Biometrics Market Trends And Strategies
4.Biometrics Market analysis
5.Biometrics Market Size And Growth
6.Biometrics Segmentation
7.Biometrics Regional And Country Analysis
.
.
.
27.Biometrics Competitive Landscape And Company Profiles
28.Biometrics Key Mergers And Acquisitions
29.Biometrics Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Overview and Scope Magnesium oxide board (MgO) refers to a type of mineral panel that…
Overview and Scope G-protein coupled receptors refer to a kind of membrane receptor also known…
Overview and Scope Gastroparesis is a medical condition characterized by the impairment or weakening of…
Overview and Scope An ion milling system refers to a system that performs a physical…
Overview and Scope Food robotics refers to the use of robots for processing food and…
Overview and Scope Fill-finish pharmaceutical contract manufacturing refers to the outsourcing of the final stages…