Global and Regional Biometric Authentication and Identification Market Report 2021: AI and Cloud Computing Dramatically Increased Business Opportunities

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DUBLIN, December 7, 2021 / PRNewswire / – The “Biometric Authentication and Identification Market: Focus on End User, Function, Product Type, Deployment Model and Country – Analysis and Forecast, 2021-2026” the report was added to ResearchAndMarkets.com offer.

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The global biometric authentication and identification market is expected to reach $ 8,798.9 million in 2026, at a compound annual growth rate (CAGR) of 16.30% over the forecast period 2021-2026.

Global Biometric Authentication and Identification Market

The global biometric authentication and identification market will remain at the peak of its maturity over the next few years and will continue to proliferate with the new scope of applications, but segments like fingerprint and face recognition will experience a noticeable change in consumer behavior due to COVID-19. The integration of several technologies such as artificial intelligence (AI) and cloud computing within the biometric authentication system has notably increased the business opportunities in the market.

The latest trend is biometric authentication, and the identification market is offering authentication as a service instead of a turnkey solution. Businesses are exploring the possibilities of cloud computing and cloud storage to lower the overall cost of operations while providing consumers with desired security measures. Reduced reliability of hardware and increased maturity, operational capability and accuracy of software will define areas for market growth.

Overview of the global biometric authentication and identification industry

The increase in data breaches, malware attacks and other cybercrimes facing several countries like the United States, Canada, Russia, France, Germany, UK, India, China, Japan, and Australia, among others, has forced government agencies and other organizations to increase their level of security and authentication system, generating significant demand for the global biometric authentication and identification market.

This biometric authentication system is one of the most secure and reliable access management solutions adopted by countries around the world. Several developed and developing economies have already implemented a mass identification program to identify their citizens and optimize their legal operations.

The increasing integration and use of biometric authentication and identification ensures that safety and security are raised to a certain level, but its use in public places has created resistance indicating the reason for the breach. the privacy of an individual without their consent. No regulator or landscape adheres to such issues, which is one of the biggest challenges in the market.

Market segmentation

Global Biometric Authentication and Identification Market By End User

Government bodies within the end-user of the global biometric authentication and identification market will capture the highest market share in the coming years. The growth can be attributed to the mass identification initiatives taken by government agencies across the world. The integration of biometric authentication into several government operations such as public switching and education has also spurred opportunities within the segment.

Global Biometric Authentication and Identification Market by Function

The contactless segment of the global biometric authentication and identification market deployment model will experience the highest growth rate over the next few years. The main driving factor behind the contactless segment is the change in consumer behavior after the COVID-19 pandemic. With growing concerns about social distancing and the focus on avoiding public surfaces, the consumer is leaning towards contactless authentication systems such as facial recognition and iris recognition.

Global Biometric Authentication and Identification Market by Product Type

The fingerprint segment within the product type of the global biometric authentication and identification market will capture the highest share, while facial recognition will experience the highest growth rate in the next few years. Attributes such as ease of integration, economical application cost and user-friendly ecosystem are the main factors driving acceptance of fingerprint authentication systems. The integration of fingerprint authentication systems after the pandemic was so aggressive that it will meet the higher market share even in several years to come.

Global Biometric Authentication and Identification Market by Deployment Method

The on-premises segment as part of the deployment of the biometric authentication and identification system model will cover the highest market share in terms of value. The varied scope, such as integration in enterprises, government facilities, national borders and airports, among others, for access control, has allowed the segment to claim the highest market share.

Global Biometric Authentication and Identification Market by Region

North America is expected to represent the highest share of the global biometric authentication and identification market. This is due to the large number of businesses based in the region and the increased spending by government organizations for the purchase and implementation of a biometric authentication and identification system.

Market segmentation

Global Biometric Authentication and Identification Market By End User

Government bodies within the end-user of the global biometric authentication and identification market will capture the highest market share in the coming years. The growth can be attributed to the mass identification initiatives taken by government agencies across the world. The integration of biometric authentication into several government operations such as public switching and education has also spurred opportunities within the segment.

Global Biometric Authentication and Identification Market by Function

The contactless segment of the global biometric authentication and identification market deployment model will experience the highest growth rate over the next few years. The main driving factor behind the contactless segment is the change in consumer behavior after the COVID-19 pandemic. With growing concerns about social distancing and the focus on avoiding public surfaces, the consumer is leaning towards contactless authentication systems such as facial recognition and iris recognition.

Global Biometric Authentication and Identification Market by Product Type

The fingerprint segment within the product type of the global biometric authentication and identification market will capture the highest share, while facial recognition will experience the highest growth rate in the next few years. Attributes such as ease of integration, economical application cost and user-friendly ecosystem are the main factors driving acceptance of fingerprint authentication systems. The integration of fingerprint authentication systems after the pandemic was so aggressive that it will meet the higher market share even in several years to come.

Global Biometric Authentication and Identification Market by Deployment Method

The on-premises segment as part of the deployment of the biometric authentication and identification system model will cover the highest market share in terms of value. The varied scope, such as integration in enterprises, government facilities, national borders and airports, among others, for access control, has allowed the segment to claim the highest market share.

Global Biometric Authentication and Identification Market by Region

North America is expected to represent the highest share of the global biometric authentication and identification market. This is due to the large number of businesses based in the region and the increased spending by government organizations for the purchase and implementation of a biometric authentication and identification system.

Market Report Coverage – Biometric Authentication and Identification

Market segmentation

  • End user: government and border management agencies, defense agencies, banking and financial institutes, commercial organizations, health institutes and others

  • Function: Contact and contactless

  • Product type: Fingerprint, facial recognition, eye and iris scanner, palm and vein reader, voice recognition and others

  • Deployment model: on-premises, mobiles and tablets, personal computers and portable devices

Market growth drivers

  • Data breach and cybersecurity threats – Creating demand for a secure biometric solution

  • Technological advancement towards the use of next-generation biometric solutions (multi-biometric and AI-based solutions)

Market challenges

Market opportunities

Markets – Competitive benchmarking and company profiles

For more information on this report, visit https://www.researchandmarkets.com/r/ioejnt

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