Biometric System Market by Authentication Type (Single-Factor Authentication and Multi-Factor Authentication), Offering (Hardware and Software), Functionality Type (Contact, Non-contact, and Combined), End User (Banking & Finance, Consumer Electronics, Healthcare, Automotive, Government, and Military & Defense) - Analysis & Forecast 2019-2030

Report ID : 266  |  Published Date : Feb 2020  |  Pages : 170  |  Region : Global  |  Report Code : CG-4





Biometric System Market Introduction and Overview

Biometric systems are designed to recognize people based on their biological information such as hand geometry, earlobe geometry, fingerprints, retina, voice waves, DNA, and others. Biometric systems are immensely popular due to the growing adoption of fingerprint-based authentication systems in mobile phones, primarily to unlock them. However, biometric systems have a wide range of applications in the banking & finance industry, especially to make transactions. Hence, key players have been investing heavily in the development of new solutions for the banking & finance industry. For instance, in December 2019, Libya’s Assaraya Trade and Investment Bank (ATIB) launched the e-KYC program based on fingerprint and face recognition.

The increasing adoption of biometric systems in mobile phones for various applications, growing use of biometric systems in the healthcare industry for access control, identification, & workforce management, and increasing application of biometric systems in the automotive industry are the factors that will drive market growth. Moreover, the increasing use of biometric systems at offices to track employees’ attendance and punctuality is likely to supplement market growth. However, security concerns, lack of skilled workforce to operate biometric-as-a-service, and data storage issues are the major factors that will act as restraints for biometric system market growth.

The global biometric system market can be segmented into authentication type, offering, functionality type, end-user, and regions.

Biometric System Market By Authentication Type

Based on authentication type, the market can be segmented into single-factor authentication and multi-factor authentication. Single-factor authentication accounts for the largest market share and is expected to continue its dominance for a few years owing to high adoption rates of single-factor authentication in various end-use industries such as consumer electronics, banking & finance, automotive, and military & defense due to its advantages such as easy to use & install,  cost effective, low error rates and others. Also, the increasing use of fingerprint authentication at offices to track attendance and punctuality is one of the major factors driving growth of the single-factor authentication segment.

Biometric System Market By Offering

Based on offering, the market can be segmented into hardware and software. The software segment is expected to grow at the highest CAGR during the forecast period (2019-2030) owing to the increasing adoption of cloud-based biometric systems across the globe, which demands the right software to increase the compatibility of the biometric systems with different applications.

Biometric System Market By Functionality Type

Based on functionality type, the market can be segmented into contact, noncontact, and combined. The contact segment accounts for the largest market share owing to its widespread advantages, such as ease of installation, cost-effectiveness, high durability, and others, when compared with other segments. Additionally, the growing adoption of fingerprint authentication in the banking & finance sector is fueling growth of the contact segment.

Biometric System Market By End User

Based on end-user, the market can be segmented into banking & finance, consumer electronics, healthcare, automotive, government, military & defense, and others. In 2018, the banking & finance segment dominated the global biometric system market. The increasing use of biometric authentication for mobile banking and the growing popularity of mobile wallets across the globe are the major driving factors driving the banking & finance segment.

Biometric System Market By Region

Based on region, the global biometric system market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). In 2018, North America accounted for the largest market share and is expected to continue its dominance over the next few years. This growth can be attributed to growing digitalization, increasing acceptance of smart technologies, and rising government initiatives aimed toward public safety.

Biometric System Market Prominent Players

Some of the prominent players in the global electric vehicle market include NEC Corporation, Integrated Biometrics, LLC, HID Global Corporation/ASSA ABLOY AB, SUPREMA, SecuGen Corporation, and FUJITSU, among others

Table of Contents

  1. INTRODUCTION
    1. Market Definition
    2. Market Classification
    3. Geographic Scope
    4. Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecast Years – 2019 to 2030
    5. Currency Used
  2. RESEARCH METHODOLOGY
    1. Research Framework
    2. Data Collection Technique
    3. Data Sources
      1. Secondary Sources
      2. Primary Sources
    4. Market Estimation Methodology
      1. Bottom Up Approach
      2. Top Down Approach
    5. Data Validation and Triangulation
      1. Market Forecast Model
      2. Limitations/Assumptions of the Study
  3. ABSTRACT OF THE STUDY
  4. MARKET DYNAMICS ASSESSMENT
    1. Overview
    2. Drivers
    3. Barriers/Challenges
    4. Opportunities
  5. UNIQUE SELLING PROPOSITIONS (USPs)
    1. Technological Advancements
  6. GLOBAL BIOMETRIC SYSTEM MARKET - ANALYSIS & FORECAST, BY AUTHENTICATION TYPE
    1. Single-Factor Authentication
    2. Multi-Factor Authentication
  7. GLOBAL BIOMETRIC SYSTEM MARKET - ANALYSIS & FORECAST, BY OFFERING
    1. Hardware
    2. Software
  8. GLOBAL BIOMETRIC SYSTEM MARKET - ANALYSIS & FORECAST, BY FUNCTIONALITY TYPE
    1. Contact
    2. Non-Contact
    3. Combined
  9. GLOBAL BIOMETRIC SYSTEM MARKET - ANALYSIS & FORECAST, BY END USER
    1. Banking & Finance
    2. Consumer Electronics
    3. Healthcare
    4. Automotive
    5. Government
    6. Military & Defense
    7. Others
  10. GLOBAL BIOMETRIC SYSTEM MARKET - ANALYSIS & FORECAST, BY REGION
    1. North America Biometric System Market
      1. North America Biometric System Market, By Country
        1. US
        2. Canada
      2. North America Biometric System Market Analysis & Forecast, By Authentication Type
      3. North America Biometric System Market Analysis & Forecast, By Offering
      4. North America Biometric System Market Analysis & Forecast, By Functionality Type
      5. North America Biometric System Market Analysis & Forecast, By End User
    2. Europe Biometric System Market
      1. Europe Biometric System Market, By Country/Region
        1. Germany
        2. UK
        3. France
        4. Rest of Europe (ROE)
      2. Europe Biometric System Market Analysis & Forecast, By Authentication Type
      3. Europe Biometric System Market Analysis & Forecast, By Offering
      4. Europe Biometric System Market Analysis & Forecast, By Functionality Type
      5. Europe Biometric System Market Analysis & Forecast, By End User
    3. Asia Pacific Biometric System Market
      1. Asia Pacific Biometric System Market, By Country/Region
        1. China
        2. Japan
        3. India
        4. Rest of Asia Pacific (RoAPAC)
      2. Asia Pacific Biometric System Market Analysis & Forecast, By Authentication Type
      3. Asia Pacific Biometric System Market Analysis & Forecast, By Offering
      4. Asia Pacific Biometric System Market Analysis & Forecast, By Functionality Type
      5. Asia Pacific Biometric System Market Analysis & Forecast, By End User
    4. Rest of the World (ROW) Biometric System Market
      1. Rest of the World Biometric System Market, By Country/ Region
        1. Latin America
        2. Middle East & Africa
      2. Rest of the World Biometric System Market Analysis & Forecast, By Authentication Type
      3. Rest of the World Biometric System Market Analysis & Forecast, By Offering
      4. Rest of the World Biometric System Market Analysis & Forecast, By Functionality Type
      5. Rest of the World Biometric System Market Analysis & Forecast, By End User
  11. COMPANY PROFILES              (Business Overview, Products Offered, Financial Performance*, Recent Developments)
    1. NEC Corporation
    2. Integrated Biometrics, LLC
    3. HID Global Corporation/ASSA ABLOY AB
    4. SUPREMA
    5. SecuGen Corporation
    6. FUJITSU
    7. Precise Biometrics
    8. Aware, Inc
    9. Mantra Softech (India) Pvt. Ltd.
    10. BIO-key        *Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain