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Biometrics Market ($44BILLION by 2021), Emerging Biometric Technologies Growth (13.37% CAGR to 2019)

BIO METRICS
Market Research

Biometric modalities include hybrid fingerprint / palm print, facial recognition, iris image, and voice recognition. The global biometrics market at $7.0 billion in 2014 is forecast to reach $44.2 billion by 2021. Biometrics revenue and device shipment forecasts are segmented by modality and market segment. There are four biometrics market segments, law enforcement, border control which includes government ID systems, workplace access, and consumer ID.

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Fredrick Hiner, Sere Administrative Services, Inc.

Security systems implementations drive the biometric systems market. Biometric data protection is being used to replace photographs, passwords and PIN codes. India, Mexico and Russia are driving the extraordinary growth of biometrics market and systems. China has a biometric national ID program that commenced in 2013. India is getting on board. Computer storage of important documents has created an increasing need for biometric security systems. Key industries in the biometrics market are finance, consumer devices, and healthcare. Key use cases include smart phone payment systems, consumer device authentication, mobile banking, automated teller machines (cashpoints), government IT systems, point-of-sale transactions, pharmacy dispensing, and wearable device authentication. Call center use cases apply across nearly all industries.

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There are numerous emerging biometrics market technologies, the most prominent among which are DNA analysis, keystroke recognition, gait analysis, and EEG/ECG analysis. With advancements in technology, vendors are introducing these technologies in various sectors such as government, education, and healthcare. Analysts forecast global emerging biometric technologies market to grow at a CAGR of 13.37% over the period 2014-2019. The second research titled Emerging Biometrics Technologies: Global Industry Analysis 2015-2019 considers revenue generated from DNA analysis, Keystroke recognition, Gait analysis and EEG/ECG analyst to calculate global market size. These include sensors, scanners, cameras, software, hardware, integrated solutions, and database for the above mentioned solutions. This biometrics market report on emerging technologies includes revenue generated from the sales of hardware, software, and integrated solutions. Revenues generated from after sales and services are not included to calculate the market size.


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