Press release
Biometric Technologies Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033
The biometric technologies market size has grown rapidly in recent years. It will grow from $52.65 billion in 2023 to $59.76 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to increasing cybersecurity threats, rising concerns about security, adoption in healthcare for patient identification, use in time and attendance systems, use in border control and immigration..
The biometric technologies market size is expected to see rapid growth in the next few years. It will grow to $100.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to emergence of wearable biometric devices, integration with smart cities initiatives, focus on user convenience, growth in remote authentication, use in aviation and travel security.. Major trends in the forecast period include integration with artificial intelligence (ai), expansion in mobile biometrics, multi-modal biometrics adoption, remote authentication solutions, blockchain integration for enhanced security..
Market Overview -
Biometric technology is an automated or computerized process that is essential for the security and identification of a person based on some aspect of their biology. It offers enhanced recognition or authentication methods in comparison to conventional techniques like passwords and pin codes. It helps keep information safe from any fraudulent activity and offers secure and long-lasting security benefits to the person or organization.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8946&type=smp
Biometric Technology Market Thrives On The Surge In Consumer Electronics Integration
The growing adoption of biometric technologies in consumer electronics is expected to boost the growth of the biometric technology market going forward. Consumer electronics are any electronic devices designed to be purchased and used by end users, or consumers, for daily and non-commercial or professional purposes. Biometrics-based consumer electronic devices are standalone products that include mobile devices, security systems, access control door locks, automotive, home automation, the internet of things (IoT), and game consoles. The consumer electronics are increasingly incorporating biometric technology for safety and additional features. For instance, according to Cisco Duo's 2022 Trusted Access Report by Cisco Systems Inc, a US-based digital communications technology company, the proportion of phones (which comes under consumer electronics), with integrated biometrics capabilities stayed at about 81% over 2021. Additionally, the volume of transactions utilizing Duo's multi-factor authentication (MFA) increased by 38% over the previous 12 months. Therefore, the growing adoption of biometric technologies in consumer electronics is driving the growth of the biometric technology market.
Competitive Landscape -
Major companies operating in the biometric technologies market report are 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 .
Biometric Technologies Market Driven By Technological Advancements
Technological advancements are a key trend in gaining popularity in the biometric technologies market. Major companies operating in the biometric technology market are focused on developing innovative solutions using artificial intelligence to strengthen their position in the market. For instance, in March 2022, Touchless Biometric Systems (TBS), a Switzerland-based biometric specialist and security system supplier, introduced 3D Fly, an innovative sensor offering on-the-fly user identification. The 3D Fly sensor captures a high-resolution picture of the complete hand and extracts the biometric features of up to four fingers, which results in superior recognition performance. It uses AI-assisted hand recognition technology, combined with fast data processing, to identify a person within a second. Users can exhibit their hands during the procedure while moving near 3D Fly and past the speed gate without stopping or slowing down.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/biometric-technologies-global-market-report
Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The biometric technologies market size is expected to see rapid growth in the next few years. It will grow to $100.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to emergence of wearable biometric devices, integration with smart cities initiatives, focus on user convenience, growth in remote authentication, use in aviation and travel security.. Major trends in the forecast period include integration with artificial intelligence (ai), expansion in mobile biometrics, multi-modal biometrics adoption, remote authentication solutions, blockchain integration for enhanced security..
Market Overview -
Biometric technology is an automated or computerized process that is essential for the security and identification of a person based on some aspect of their biology. It offers enhanced recognition or authentication methods in comparison to conventional techniques like passwords and pin codes. It helps keep information safe from any fraudulent activity and offers secure and long-lasting security benefits to the person or organization.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8946&type=smp
Biometric Technology Market Thrives On The Surge In Consumer Electronics Integration
The growing adoption of biometric technologies in consumer electronics is expected to boost the growth of the biometric technology market going forward. Consumer electronics are any electronic devices designed to be purchased and used by end users, or consumers, for daily and non-commercial or professional purposes. Biometrics-based consumer electronic devices are standalone products that include mobile devices, security systems, access control door locks, automotive, home automation, the internet of things (IoT), and game consoles. The consumer electronics are increasingly incorporating biometric technology for safety and additional features. For instance, according to Cisco Duo's 2022 Trusted Access Report by Cisco Systems Inc, a US-based digital communications technology company, the proportion of phones (which comes under consumer electronics), with integrated biometrics capabilities stayed at about 81% over 2021. Additionally, the volume of transactions utilizing Duo's multi-factor authentication (MFA) increased by 38% over the previous 12 months. Therefore, the growing adoption of biometric technologies in consumer electronics is driving the growth of the biometric technology market.
Competitive Landscape -
Major companies operating in the biometric technologies market report are 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 .
Biometric Technologies Market Driven By Technological Advancements
Technological advancements are a key trend in gaining popularity in the biometric technologies market. Major companies operating in the biometric technology market are focused on developing innovative solutions using artificial intelligence to strengthen their position in the market. For instance, in March 2022, Touchless Biometric Systems (TBS), a Switzerland-based biometric specialist and security system supplier, introduced 3D Fly, an innovative sensor offering on-the-fly user identification. The 3D Fly sensor captures a high-resolution picture of the complete hand and extracts the biometric features of up to four fingers, which results in superior recognition performance. It uses AI-assisted hand recognition technology, combined with fast data processing, to identify a person within a second. Users can exhibit their hands during the procedure while moving near 3D Fly and past the speed gate without stopping or slowing down.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/biometric-technologies-global-market-report
Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
