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How has the biometrics market grown in recent years?

The size of the biometrics market has seen rapid expansion in the past few years. The market is projected to increase from $45.18 billion in 2024 to $52.64 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 16.5%. This significant growth during the historic period is due to factors such as security issues, government policies, an uptick in cyber threats, widespread integration into smart devices, and greater public acceptance.

How is the biometrics market size expected to evolve during the forecast period?

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Which key drivers are propelling the biometrics market’s growth?

The rise in biometric technology usage for authentication and identification in consumer electronics is fuelling the expansion of the biometrics market. More commonplace in security features for smartphones and other devices are biometric sensors, whose inexpensive nature allows for their inclusion in a broader range of products. Access door locks, security devices, home automation, IoT, cars, gaming consoles, and mobile gadget increasingly employ biometric technology to boost device security. Methods such as fingerprint, face, and voice recognition are gaining traction as authentication measures for access and transactions, proving faster, easier, and more secure than regular credentials or PINs which are easy to misspell and steal. A research by Visa in May 2022 revealed that 86% of consumers are keen on using biometrics to verify their identity for payments while 70% found biometrics easier to use and 46% considered it safer than passwords or PINs. Therefore, the escalating usage of biometric technology in consumer electronics in the areas of authentication and identification is projected to propel the biometrics market in the forecast period.

What are the market segments in the biometrics industry?

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 Or Visa Or Logistics, Other End Users

Subsegments:

1) By IRIS Recognition: Hardware (Cameras, Scanners), Software Solutions

2) By Hand Geometry: Hand Geometry Scanners, Software For Hand Measurement

3) By Facial Recognition: 2D Facial Recognition, 3D Facial Recognition, Facial Recognition Software

4) By Signature Verification: Static Signature Verification, Dynamic Signature Verification

5) By Fingerprint: Optical Fingerprint Sensors, Capacitive Fingerprint Sensors, Ultrasonic Fingerprint Sensors

6) By Voice Recognition: Speaker Verification Systems, Voice Authentication Software

7) By Palm Vein: Palm Vein Scanners, Software For Palm Vein Authentication

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Which leading companies are shaping the growth of the biometrics market?

Major companies operating in the biometrics market include Hitachi Corporation, Siemens AG, 3M Company, Fujitsu Limited, NEC Corporation, Thales Group, Leidos Holdings Inc., IrisGuard Ltd., NEXT Biometrics Group ASA, Nuance Communications Inc., GB Group plc, M2SYS Technology, Fingerprint Cards AB, Suprema Inc., Paravision, BioEnable Technologies Pvt. Ltd., Cognitec Systems GmbH, Aware Inc., Assa Abloy AB, Innovatrics s.r.o., Biokey International, FaceFirst Inc., BioID AG, Crossmatch Technologies Inc., ImageWare Systems Inc., Phonexia SRO, IDEX Biometrics ASA, S.I.C. Biometrics Global Inc.

What key trends are currently impacting the biometrics market’s development?

Prominent firms in the biometrics market are keen on innovation and launching advanced solutions, like palm vein biometric scanners, to maintain their market stronghold. These scanners employ near-infrared light to read the vein pattern in an individual’s palm and generate a unique biometric identity. For example, Keyo, a US company specializing in biometric identification software, unveiled the Keyo Wave+ in July 2023. This handheld scanner is intended for use in payments, access control, ticketing, identification, and time and attendance tracking. With features like a smartphone-sized screen, SOC2-compliant data protection, and adaptability for custom applications, the Keyo Wave+ can be affixed to a wall or countertop. Moreover, it is designed to accommodate billions of users.

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Which geographic areas are influencing the growth of the biometrics market?

North America was the largest region in the biometrics market in 2024. 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, Africa.

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