Next Generation Biometrics Market

Executive Summary

Next Generation Biometrics Market was valued at US $38.28 billion in 2021 and is projected to grow at 11.93% CAGR over the forecast period to reach US $75.25 billion by 2027. Next Generation Biometrics Market represented US $7.72 billion opportunity over 2019-2021 and estimated to create US $36.97 billion opportunity in 2027 over 2021.

Next Generation Biometrics from Consainsights analyses the Next Generation Biometrics Market in the Technology & Media industry over the forecast period to 2027.

Next Generation Biometrics research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Next Generation Biometrics segmentation includes Authentication Type, Function, Application and Geography.

Based on the Authentication Type, the Next Generation Biometrics analysis covers Single-factor Authentication, Fingerprint Recognition, Iris Recognition, Palm Print Recognition, Face Recognition, Vein Recognition, Signature Recognition, Voice Recognition, Other Biometric Technologies, Multi-factor Authentication, Smart Card With Biometrics Technology, Biometrics With Pin, Two-factor Biometrics Authentication, Three-factor Biometric Authentications.

In Authentication Type segment, Single-factor Authentication segment has highest cagr growth of 10.53%.

Based on the Function, the Next Generation Biometrics analysis covers Contact Biometrics, Non-contact Biometrics.

In Function segment, Contact Biometrics segment has highest cagr growth of 10.53%.

Based on the Application, the Next Generation Biometrics analysis covers Government, Military & Defense, Healthcare, Banking & Finance, Consumer Electronics, Security, Travel & Immigration, Others.

In Application segment, Government segment has highest cagr growth of 10.53%.

Based on the region, the Next Generation Biometrics analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Safran Sa, Nec Corporation, 3m Cogent, Inc., Fujitsu Ltd., Suprema Inc., Bio-key International, Inc., Precise Biometrics Ab, Secunet Security Networks Ag, Thales Sa, Cross Match Technologies, Fulcrum Biometrics and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Authentication Type

Introduction

In 2021, Single-factor Authentication segment has the highest revenue of US $14.68 billion and is expected to grow at CAGR of 10.53% by 2027 Single-factor Authentication segment has highest cagr growth of 10.53%.

Single-factor Authentication

Single-factor Authentication segment was valued at US $11.72 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $28.86 billion by 2027. Single-factor Authentication segment represented US $2.96 billion opportunity over 2019-2021 and estimated to create US $14.18 billion opportunity in 2027 over 2021.

Fingerprint Recognition

Fingerprint Recognition segment was valued at US $7.25 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $17.85 billion by 2027. Fingerprint Recognition segment represented US $1.83 billion opportunity over 2019-2021 and estimated to create US $8.77 billion opportunity in 2027 over 2021.

Iris Recognition

Iris Recognition segment was valued at US $4.46 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $10.98 billion by 2027. Iris Recognition segment represented US $1.13 billion opportunity over 2019-2021 and estimated to create US $5.39 billion opportunity in 2027 over 2021.

Palm Print Recognition

Palm Print Recognition segment was valued at US $2.75 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $6.76 billion by 2027. Palm Print Recognition segment represented US $0.69 billion opportunity over 2019-2021 and estimated to create US $3.32 billion opportunity in 2027 over 2021.

Face Recognition

Face Recognition segment was valued at US $1.70 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $4.19 billion by 2027. Face Recognition segment represented US $0.43 billion opportunity over 2019-2021 and estimated to create US $2.06 billion opportunity in 2027 over 2021.

Vein Recognition

Vein Recognition segment was valued at US $1.04 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $2.57 billion by 2027. Vein Recognition segment represented US $0.26 billion opportunity over 2019-2021 and estimated to create US $1.26 billion opportunity in 2027 over 2021.

Signature Recognition

Signature Recognition segment was valued at US $0.67 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $1.65 billion by 2027. Signature Recognition segment represented US $0.17 billion opportunity over 2019-2021 and estimated to create US $0.81 billion opportunity in 2027 over 2021.

Voice Recognition

Voice Recognition segment was valued at US $0.40 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.98 billion by 2027. Voice Recognition segment represented US $0.10 billion opportunity over 2019-2021 and estimated to create US $0.48 billion opportunity in 2027 over 2021.

Other Biometric Technologies

Other Biometric Technologies segment was valued at US $0.24 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.58 billion by 2027. Other Biometric Technologies segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.29 billion opportunity in 2027 over 2021.

Multi-factor Authentication

Multi-factor Authentication segment was valued at US $0.14 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.35 billion by 2027. Multi-factor Authentication segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.17 billion opportunity in 2027 over 2021.

Smart Card With Biometrics Technology

Smart Card With Biometrics Technology segment was valued at US $0.09 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.22 billion by 2027. Smart Card With Biometrics Technology segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.11 billion opportunity in 2027 over 2021.

Biometrics With Pin

Biometrics With Pin segment was valued at US $0.06 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.15 billion by 2027. Biometrics With Pin segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.08 billion opportunity in 2027 over 2021.

Two-factor Biometrics Authentication

Two-factor Biometrics Authentication segment was valued at US $0.03 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.08 billion by 2027. Two-factor Biometrics Authentication segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.04 billion opportunity in 2027 over 2021.

Three-factor Biometric Authentications

Three-factor Biometric Authentications segment was valued at US $0.01 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.03 billion by 2027. Three-factor Biometric Authentications segment represented US $0.00 billion opportunity over 2019-2021 and estimated to create US $0.01 billion opportunity in 2027 over 2021.

Function

Introduction

In 2021, Contact Biometrics segment has the highest revenue of US $16.23 billion and is expected to grow at CAGR of 10.53% by 2027 Contact Biometrics segment has highest cagr growth of 10.53%.

Contact Biometrics

Contact Biometrics segment was valued at US $12.95 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $31.90 billion by 2027. Contact Biometrics segment represented US $3.27 billion opportunity over 2019-2021 and estimated to create US $15.68 billion opportunity in 2027 over 2021.

Non-contact Biometrics

Non-contact Biometrics segment was valued at US $8.59 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $21.14 billion by 2027. Non-contact Biometrics segment represented US $2.17 billion opportunity over 2019-2021 and estimated to create US $10.39 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, Government segment has the highest revenue of US $14.56 billion and is expected to grow at CAGR of 10.53% by 2027 Government segment has highest cagr growth of 10.53%.

Government

Government segment was valued at US $11.62 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $28.62 billion by 2027. Government segment represented US $2.94 billion opportunity over 2019-2021 and estimated to create US $14.06 billion opportunity in 2027 over 2021.

Military & Defense

Military & Defense segment was valued at US $7.19 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $17.70 billion by 2027. Military & Defense segment represented US $1.82 billion opportunity over 2019-2021 and estimated to create US $8.69 billion opportunity in 2027 over 2021.

Healthcare

Healthcare segment was valued at US $4.68 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $11.54 billion by 2027. Healthcare segment represented US $1.18 billion opportunity over 2019-2021 and estimated to create US $5.67 billion opportunity in 2027 over 2021.

Banking & Finance

Banking & Finance segment was valued at US $3.08 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $7.57 billion by 2027. Banking & Finance segment represented US $0.78 billion opportunity over 2019-2021 and estimated to create US $3.72 billion opportunity in 2027 over 2021.

Consumer Electronics

Consumer Electronics segment was valued at US $1.82 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $4.49 billion by 2027. Consumer Electronics segment represented US $0.46 billion opportunity over 2019-2021 and estimated to create US $2.21 billion opportunity in 2027 over 2021.

Security

Security segment was valued at US $1.25 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $3.08 billion by 2027. Security segment represented US $0.32 billion opportunity over 2019-2021 and estimated to create US $1.51 billion opportunity in 2027 over 2021.

Travel & Immigration

Travel & Immigration segment was valued at US $0.39 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $0.95 billion by 2027. Travel & Immigration segment represented US $0.10 billion opportunity over 2019-2021 and estimated to create US $0.47 billion opportunity in 2027 over 2021.

Others

Others segment was valued at US $0.53 billion in 2019 and is projected to grow at 10.53% CAGR over the forecast period to reach US $1.31 billion by 2027. Others segment represented US $0.13 billion opportunity over 2019-2021 and estimated to create US $0.64 billion opportunity in 2027 over 2021.