An outline of the Biometrics - A Global Market Overview report. Biometrics is a technique to measure fingerprints, iris patterns, facial features and other physiological characteristics which are unique to an individual, for the purpose of identification and authorization. Global biometrics market is witnessing escalation in demand from various sectors. This is primarily due to improving accuracy rate, reliability and longevity of biometric authentication systems. Biometric systems market is driven by continuous launch of better products. Of the available technologies in the market, fingerprint biometrics is the most widely used biometric recognition technology, but the trend seems to be changing given that other biometric technologies like palm vein and hand geometry are becoming more feasible and prevalent. Over the next five years, vein scanners are expected to witness escalation in demand and consequently register fastest growth among all other segments.
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Biometrics - A Global Market Overview
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Biometrics - A Global Market Overview
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2. ABSTRACT
The primary goal of biometrics technology is to ensure that an individual is who she/he is claiming to be, and for
this purpose, this technology may make use of a person’s unique physical characteristics, such as fingerprint,
hand or palm print, iris, face and even veins for verifying identity. It is possible to integrate biometric technology
into banks, ATM machines, USB keys hooked onto computers, retail locations to be utilized with credit and debit
cards and any other such area that requires a financial transaction to be made.
Widespread application of biometrics in a gamut of key sectors, such as public security, safety, customs, finance,
army, airport and civil markets such as, intelligent access control and attendance market, is bound to expand
the scale of biometric adoption. With system and hardware prices dropping and reliability and convenience
going up, the promise offered by biometrics to the world in the diverse ways of managing identities is beyond
comprehension. While applications of biometrics in e-commerce and financial services provide some of the most
attractive opportunities, this technology’s utilization in healthcare, aid distribution and democracy offer good
potential for growth.
3. ABSTRACT
The study provides an in-depth market analysis of biometric technologies and applications while also serves the
focus on market trends, major players and application sectors. The global market for Biometrics is slated to post
a strong CAGR of 19.6% between 2014 and 2020 to reach a projected US$30.1 billion by 2020 from an estimated
US$10.3 billion in 2014. Fingerprint recognition is estimated the largest technology with market worth US$3.2
billion in 2014 while Civil ID is slated to be the largest application with global market of US$4.6 billion in the same
year.
This market research report analyses, estimates and forecasts the market for Biometrics for major global
regions, including: North America, Europe, Asia-Pacific, South America, Middle East and Africa. Key Biometric
technologies explored include Fingerprint, AFIS/Live Scan, Facial, Iris, Voice, Vein, Hand Geometry, Signature and
Other. Major applications studied comprise Civil ID, Criminal ID, Logical Access, Physical Access, Surveillance
and Others. The report also analyzes the global Biometrics market for prominent end-use sectors, including:
Government & Civil, Military & Border Control, Corporate Security, IT & Communication, Banking & Financial,
Healthcare and Others.
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