The Fingerprint biometrics market revenue in 2022 was US$ 20.3 Billion. The market is expected to reach US$ 67.1 Billion by 2033, as it is estimated to grow at a CAGR of 11.6% for 2023 to 2033.
Attributes | Details |
---|---|
Estimated Year (2023) Market Value | US$ 22.3 Billion |
Projected Year (2033) Market Value | US$ 67.1 Billion |
CAGR% (2023 to 2033) | 11.6% |
Top 5 Vendor Market Share | Around 40% |
Fingerprint biometrics technology is comprised of advanced algorithms that are used to open a device or authenticate themselves on an application with a quick touch. This technology is compatible with any sensor, operating system, or platform and has a wide range of applications in consumer electronics, government & law enforcement, aerospace, healthcare, defence & military, banking, financial services and insurance (BFSI) as well as in the travel and immigration sectors.
The fingerprint biometrics market consists 34.8% of the global biometrics market.
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Fingerprint biometrics market is estimated to grow at a CAGR of 11.6% for the forecast period compared to the historic CAGR for the period 2018 to 2022 of 7.6%.
Rising importance in immigration control and travel document verification, as well as growing international border security concerns, necessitate the need for such identity verification technologies, driving the global fingerprint biometric market growth.
Furthermore, the increased adoption of fingerprint biometrics in the healthcare & BFSI sectors, the emergence of multimodal biometrics, and the use of finger biometrics & automated fingerprint identification system (AFIS) technology in the government & automotive. Such factors present numerous opportunities for the advancement and adoption of fingerprint biometrics in the coming future.
Security and access control devices are widely used for authentication across many platforms and institutions. Furthermore, the multi-model biometric recognition system authenticates users by utilizing various features (facial, iris, and fingerprint). It enables greater reliability, high-speed, and high-precision authentication in large-scale systems, resulting in increased utilization in a variety of fields.
Furthermore, these technologies protect the individual from spoofing or falsification, and government agencies all over the world use them for a variety of security-related tasks such as border control, law enforcement, human resources, national defense, healthcare, and enterprise security.
North American region is analysed to dominate the global fingerprint biometrics market with the share of 24.1% in 2022 and South Asia Pacific region is growing at the fastest rate in the global Fingerprint biometrics market with the CAGR of 12.7% during the forecast period of 2023 to 2033.
Increased spending in the defense, BFSI and healthcare sectors along with the rising penetration of mobile & cloud biometrics are some of the major factors behind the wide adoption of fingerprint biometrics market in the North American region.
Growing High-security initiatives, smart city projects along with the high rate of adoption of biometrics by private as well as government enterprises coupled with the adoption of biometrics in healthcare, banking financial services & insurance and education sectors are some of the factors analysed to positively impact the growth of power amplified modules in the South Asia Pacific region in the coming future.
Integration of facial and fingerprint recognition technology to improve banking security, cross-validation of biometric data for inter-border & intra-border migration are some of the key factors behind the wide adoption of fingerprint biometrics technology in the USA
USA is analysed to dominate the global fingerprint biometrics market with the share of 13.3% in 2022. and is estimated to dominate the global fingerprint biometrics market over the forecast period.
Rising implementation of biometric technologies for individual identification and verification in various e-Governance applications like UIDAI (Aadhar), E-Passport, RSBY (Rashtriya Swasthya Bima Yojna), driving license, and so on. Other factors driving the Indian biometrics market include an increase in smart phone users, increasing the demand for fingerprint biometrics, improved internet connectivity, increased security concerns, and so on.
Indian region is growing at the fastest rate with the CAGR of 12.2% in the global fingerprint biometrics market, owing to the above mentioned factors.
Increased use of biometric technology in surveillance systems & for defence purpose, along with the rising security threats along the international borders are providing favourable opportunity for the expansion of the fingerprint biometrics market in the Chinese region in the coming future.
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This market growth is attributed to the factors such as increasing volume of online transactions as a result of widespread adoption of digital banking systems, surge in ecommerce, and mandatory laws requiring large corporations to authenticate consumers using strong authentication measures and so on. Additionally, single factor authentication systems are quick & hassle-free, whereas adding an extra layer of security checks demotivates customers since it takes more time.
For these reasons single factor authentication segment is analysed to dominate the fingerprint biometric market with the share of 58.6% in the year 2022.
Hardware segment is analysed to dominate the fingerprint biometrics market with the share of 61.2% in the fingerprint biometrics market owing to the factors such as rising adoption of biometric cards, as well as increasing demand & production of biometric sensors and machines for installation in various locations like airports, offices & railway stations for security purpose and so on. These are the key factors behind the increased market share of fingerprint biometrics hardware.
Fixed biometric authentication and identification is being used in a wide range of applications such as gaming, healthcare, retail, social media platforms and security. Many automakers are incorporating this technology into self-driving vehicles in order to improve the security of the vehicles. This technology is being used in the medical field for microsurgical procedures and so on.
Such factors are analysed to be the reason behind the dominate share of 62.2% of fixed segment in the fingerprint biometrics market.
Travel & immigration industry for fingerprint biometrics market is analysed to have held the largest market share of 15.8% in 2022, owing to the factors such as several countries are updating their identification documents to include biometrics, which verify identity based on physical characteristics like iris, fingerprints and voice.
Furthermore, biometrics validation will provide citizens with secure access to both public and private services, and several government organisations are focusing on strengthening their security systems by ensuring biometric identi?cation of citizens for cross-border migration and transportation, making a lucrative environment for the adoption of fingerprint biometrics systems for the travel and immigration industry.
Growing advancements in the development of sensors along with their rising integration in various devices, applications and security gateways are encouraging the research & investment in the development of the fingerprint biometrics market.
Attribute | Details |
---|---|
Market value in 2022 | US$ 20.3 Billion |
Market CAGR 2023 to 2033 | 11.6% |
Share of top 5 players | Around 40% |
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | USD Billion for Value |
Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
Key Countries Covered | USA, Canada, Germany, United kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
Key Segments Covered | Authentication Type, Offering, Mobility, Industry Vertical and Region |
Key Companies Profiled |
3M Cogent; Crossmatch; Safran; Suprema; HID Global; NEC; Dermalog Identification Systems; M2SYS Technology; Northrop Grumman; Green Bit; Bio-key; ZKTeco; Integrated Biometrics; Crossmatch; OT-Morpho |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
Some leading of the Fingerprint biometrics are 3M Cogent, Crossmatch, Safran, Suprema and HID Global.
South Asia Pacific is estimated to have the highest growth for the fingerprint biometrics during the forecast period of 12.7%.
Rising security concerns along with the wide adoption of online payment systems are the major drivers behind the growth of the fingerprint biometrics market.
Single-factor authentication type had the largest market share for the fingerprint biometrics of 58.6% in 2021.
Fingerprint biometrics software has the highest CAGR of 11.9% for the forecast period.
USA, Brazil, Russia, India and China.
The market share of South Asia and Pacific for the year 2022 for the fingerprint biometrics was 14.4%.
North America had a market share of 18.4% in 2021 for fingerprint biometrics.
India has the highest CAGR for the forecast period, which is 12.2%.
The estimated market value for fingerprint biometrics for the year 2024 is US$ 24.6 Bn.
For North America region, the CAGR for the forecast period is estimated to be 8.5% for the fingerprint biometrics.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Authentication Type 6.2. Offering 6.3. Mobility 6.4. Industry Vertical 7. Global Market Analysis and Forecast, By Authentication Type 7.1. Single-factor Authentication 7.2. Multi-factor Authentication 8. Global Market Analysis and Forecast, By Offering 8.1. Hardware 8.2. Software 9. Global Market Analysis and Forecast, By Mobility 9.1. Fixed 9.2. Portable 10. Global Market Analysis and Forecast, By Industry Vertical 10.1. Government 10.2. Consumer Electronics 10.3. Military and Defense 10.4. Healthcare 10.5. Banking & Finance 10.6. Travel & Immigration 10.7. Automotive 10.8. Security 10.9. Others 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia & Pacific 11.6. Middle East & Africa 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Europe Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Authentication Type, Offering, Mobility, and Industry Vertical for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. 3M Cogent 20.2. Crossmatch 20.3. Safran 20.4. Suprema 20.5. HID Global 20.6. NEC 20.7. Dermalog Identification Systems 20.8. M2SYS Technology 20.9. Northrop Grumman 20.10. Green Bit 20.11. Bio-key 20.12. ZKTeco 20.13. Integrated Biometrics 20.14. Crossmatch 20.15. OT-Morpho
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