Biometric Authentication and Identification Market

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Market overview

The biometric authentication and identification market is expected to grow at a CAGR of 14.6% to reach USD 99.63 billion by 2027.

The process of authenticating, recognizing and identifying people based on their physical or behavioral characteristics is called biometrics. Their biometric template, which is already stored in the database, is compared to a unique identification. Because they are simple to use and install and provide a convenient way to ensure top-notch security and assurance, biometric systems are rapidly gaining popularity globally. In addition to this, biometric technologies are widely used in institutional setups, government and commercial enterprises, as well as for door access, employee identification and attendance registration. Additionally, they have set up high security zones to protect the building and reduce the risk of invasion by automatically recognizing strangers using biometrics.

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COVID will impact the global stock of biometric frames. This will generally depend on how the situation is resolved internationally and when production lines start operating at maximum capacity. The COVID-19 pandemic outbreak has had the greatest impact on interest in contact-based biometric frameworks. To prevent the spread of Covid, interest in contact-based biometric frames is likely to decline, even after the outbreak is over. Additionally, contactless biometric systems like facial recognition, iris recognition, and voice recognition are being used to keep up with the surge in popularity post COVID-19.

Market segmentation

● By modality

On the basis of modality, the market is segmented into market statistics and multimodal biometrics.

● By motility

On the basis of motility, the market is segmented into fixed and mobile.

● By app

Based on application, the market is segmented into government, consumer electronics, and commerce.

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Regional classification

North America is expected to contribute significantly to the development of the regional market due to its growing interest in biometrics across a variety of verticals. This is due to his increased interest in gadgets.

During the reference period, the Asia-Pacific region is expected to experience the fastest growth rate. The rapid increase in sales of smartphones, tablets and IoT devices in the Asia-Pacific region, which is generally dominated by China and India, is expected to have a significant impact on the overall market growth during the forecast period.

Developing countries in the Asia-Pacific region are experiencing rapid progress in electronic devices and mobile phones, as well as increasing rates of security risks.

Industry News

To develop next-generation eSIM and connectivity solutions for consumer and M2M/IoT devices in January 2022, IDEMIA worked with Microsoft.

The trusted digital identity service platform will include a new voice biometric solution from Thales Group in July 2021 for onboarding and authentication. It catches fraudsters posing as customers.

Due to the entry of numerous industries with technological advancements in line with market demands, the market for next-generation biometric authentication and identification is highly fragmented. However, the next generation biometrics market is very competitive due to the anticipated demand in the future. Siemens AG, Fujitsu Ltd., Fingerprint Cards AB and Crossmatch Technologies are the major industry or market players.

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To provide biometrics and other digital identity and security technologies to critical infrastructure providers such as banks, telecom operators, government agencies and other public services, Thales has completed the acquisition of Gemalto for 4.8 billion euros. This creates a global security juggernaut.
Related reports:
https://trendswide.com/industrial-agitators-all-that-you-need-to-know/
https://www.gonobuddy.com/wearable-computing-technology-the-future/

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