Global Biometric Technology Market Size, Status and Forecast 2021-2027

Biometrics technology is used for identification and authentication of individuals by measuring and analyzing their personal traits-fingerprints, iris, hand geometry, voice, face, vascular pattern, palm print, or behavioral characteristics-signature, typing pattern, gait. It is a major industry which forms a significant part of the biometric market.
Biometric technology provides advanced methodology over traditional PIN based methods. This technology is used to secure the sensitive or personal data from fraudulent use of an individual’s possessions, such as ATMs, smart cards, mobile phones or access to desktops, laptops, workstations, or networks by unique identification technique. It uses both physiological as well as psychological traits for identification that makes it beneficial in variety of crucial applications, such as national security, law enforcement, enterprise &e-governance, personal information & business transactions, and others. Biometric systems are designed with a storage component for biometric data samples of individuals and are linked to the information on their identity. Traditional methods could be compromised; for instance, a PIN or password could be forgotten or a key could be lost, but biometric traits are difficult to steal or forget. Owing to its unique characteristics and high security, biometric technology is used in variety of applications in industries, such as defense, government, healthcare, banking & finance, transport & immigration, commercial security, non-commercial safety, and others (hospitality, gaming, automobile, retail).

Market Analysis and Insights: Global Biometric Technology Market
The global Biometric Technology market size is projected to reach US$ 12750 million by 2027, from US$ 5958.3 million in 2020, at a CAGR of 11.0% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Biometric Technology market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Biometric Technology market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Biometric Technology market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Biometric Technology market.

Global Biometric Technology Scope and Market Size
Biometric Technology market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Biometric Technology market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Based on physical characteristics
Based on behavioral characteristics

Segment by Application
Public sector
Banking & financial sector
Healthcare
IT & telecommunication
Others (hospitality, retail, automotive)

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
3M Company (Cogent Systems, Inc.)
Fujitsu Frontech Limited
ImageWare Systems, Inc.
Suprema, Inc.
Safran S.A.
secunet Security Networks AG
Thales S.A.
BIO-key International, Inc.
NEC Corporation
Precise Biometrics