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What key factors are powering the surge in the biometric technologies market right now?

Rapid expansion has been witnessed in the biometric technologies market size in the recent past. The metrics predict it to escalate from $58.46 billion in 2024 to approximately $65.67 billion in 2025, marking a compound annual growth rate (CAGR) of 12.3%. Factors contributing to this development during the historic period include an upsurge in cybersecurity threats, heightened security apprehensions, incorporation in healthcare for patient identity confirmation, application in timekeeping and attendance systems, as well as its usage in border control and immigration procedures.

How fast Is the biometric technologies market expected to grow, and what’s its future value?

The marketplace for biometric technologies is anticipated to experience swift expansion in the upcoming years. The market is set to reach $116.58 billion by 2029, with a compound annual growth rate (CAGR) of 15.4%. This projected growth within the forecast period can be linked to the advent of wearable biometric devices, alignment with smart city projects, emphasis on user friendliness, advancements in remote authentication, and implementation in aviation and travel security. Key trends within the forecast period comprise the incorporation of artificial intelligence (AI), growth in mobile biometrics, the acceptance of multi-modal biometrics, remote authentication strategies, and the integration of blockchain for improved security.

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What are the leading drivers of growth in the biometric technologies market?

The rise in utilization of biometric technologies within consumer electronics is likely to propel the biometric technology market’s expansion in the future. Consumer electronics refer to any electronic gadgets meant to be bought and used by consumers for day-to-day, non-commercial, or professional activities. Consumer electronic devices using biometrics include individual items such as mobile gadgets, security systems, door locks with access control, automobiles, home automation systems, the internet of things (IoT), and gaming consoles. Biometric technology is increasingly integrated into consumer electronics for enhanced safety and features. To cite an example, in February 2022, Deloitte Touche Tohmatsu Limited, a UK-based consultancy that offers globally audit, consulting, tax, and advisory services, revealed that over the past three years, worldwide consumer electronics sales demonstrated various growth rates. Computers surged by 34%, TV sets by 12%, and smartphones by 1%. Hence, the increased adherence to biometric technologies within consumer electronics is spurring the advancement of the biometric technology market.

What are the key segments defining the biometric technologies market?

The biometric technologies market covered in this report is segmented –

1) By Offering: Hardware, Software

2) By Type: Contact-Based, Contact-Less, Hybrid

3) By Authentication Type: Single-Factor Authentication, Multi-Factor Authentication

4) By Application: Face, Hand Geometry, Voice, Signature, Iris, Automated Fingerprint Identification System (AFIS), Non-Automated Fingerprint Identification System (AFIS), Other Applications

5) By Vertical: Government, Consumer Electronics, Military And Defense, Healthcare, Banking And Finance, Travel And Immigration, Automotive, Security, Other Verticals

Subsegments:

1) By Hardware: Fingerprint Scanners, Facial Recognition Cameras, Iris Scanners, Palm And Vein Recognition Devices, Biometric Terminals And Readers

2) By Software: Biometric Authentication Software, Identity Management Solutions, Biometric Data Analytics Software, Integration And Middleware Software

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Who are the key players steering the development of the biometric technologies market?

Major companies operating in the biometric technologies market include Fujitsu Frontech Limited, Imageware Systems Inc., Suprema HQ Inc., IDEMIA Group, Secunet Security Networks AG, Thales S.A., BIO-key International, Nippon Electric Company Limited Corporation, Precise Biometrics, Aware Inc., Cognitec Systems GmbH, Daon Inc., M2SYS Technology, 3M Company, DERMALOG Identification Systems GmbH, Assa Abloy AB, Fulcrum Biometrics LLC, Facebanx Ltd., Integrated Biometrics LLC, Accu-Time Systems, East Shore Technology, EveVerify, Suprema Inc., Hitachi, FaceFirst, Nuance Communications, BI2 Technologies, Biometix Pty Ltd, Fingerprint Cards, BTBL Co. Ltd

What emerging trends are influencing the growth of the biometric technologies market?

The rise in technological progress is an important factor contributing to the growing prominence in the biometric technologies market. Major firms in the biometric technology market are concentrating on creating advanced solutions with AI to bolster their market stance. For example, in March 2022, Touchless Biometric Systems (TBS), a biometric expert and security system provider based in Switzerland, launched 3D Fly, a pioneering sensor that identifies users swiftly. This sensor, the 3D Fly, snaps a highly detailed photo of the entire hand and derives the biometric characteristics from up to four fingers, leading to superior recognition performance. The technology integrates AI-backed hand recognition with swift data processing, allowing a person to be identified in less than a second. Users can present their hands during this process while they move close to and past the 3D Fly and speed gate without any need to pause or decelerate.

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Which regions are most influential in expanding the biometric technologies market?

Asia-Pacific was the largest region in the biometric technologies market share in 2024. The regions covered in the biometric technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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