Global Fixed Biometric Authentication and Identification Market – Industry Trends and Forecast to 2029

Global Fixed Biometric Authentication and Identification Market, By Modality (Market Statistics, Classification of Biometric Systems, Multimodal Biometric Systems), Application (Enterprise, Banking and Financial Institutions, Government, Border Control and Airport Security, Law Enforcement, Healthcare, Commercial, Other Applications) – Industry Trends and Forecast to 2029.

Fixed Biometric Authentication and Identification Market Analysis and Size

Technological advancements, from paper to electronic to digital to biometric, have significantly impacted the economy. This advancement has improved the operating capacities of many industries, including the automotive, manufacturing, and construction sectors, in terms of improved safety measures, connectivity, cost savings, and user convenience. When combined with AI, this technology has begun to generate significant growth opportunities in a variety of industries, including gaming, social networking, and e-commerce.

Data Bridge Market Research analyses that the fixed biometric authentication and identification market which was growing at a value of 38.77 billion in 2021 and is expected to reach the value of USD 115.34 billion by 2029, at a CAGR of 14.60% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Fixed Biometric Authentication and Identification Market Scope and Segmentation

Market Definition

Biometrics is the process of authenticating, recognizing, and identifying people based on their physical or behavioral characteristics. They match an individual identifier to an existing biometric template in the database. Biometrics systems are gaining popularity around the world because they are simple to use and implement, and they provide a cost-effective solution for ensuring high-level security and assurance.

Global Fixed Biometric Authentication and Identification Market Dynamics

Drivers

• Improvisation and implementation of advanced security parameters

Security is critical for everyone, and many new technologies and developments are being implemented to improve security everywhere. Many different security devices with image recognition have been developed today. People's safety and security are enhanced by facial recognition biometric devices, security cameras, and drones. This image recognition technology is used in various products, including gaming and retail, because it improves people's overall experiences and creates a new platform for them.

• High adoption in various areas of industry

Fixed biometric authentication and identification is changing the way we see the world and is playing a critical role in the future of technology. Fixed biometric authentication and identification is now used in many areas of our lives, including gaming, healthcare, retail, social media platforms, security, and autofixeds. Many car manufacturers are incorporating this technology into self-driving cars to reduce accidents and keep traffic rules and regulations in order. This technology is also being used in the healthcare industry for microsurgical procedures. Drones, security cameras, facial recognition devices, and other image recognition devices have been developed for security and safety purposes. The increasing use of fixed biometric authentication and identification in various applications is driving market growth.

Opportunities

• Modernization and growing marketing strategies

Modernization, rising end-user demand for brand recognition, and increasing market strategies will create new opportunities for fixed biometric authentication and identification market during the forecast period.

Restraints

• High installation cost

However, among other factors, the high cost of installing image fixed biometric authentication and identification and a lack of technical experts in the industry are major restraints that will further challenge the fixed biometric authentication and identification market during the forecast period.

This fixed biometric authentication and identification market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the fixed biometric authentication and identification market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Global Fixed Biometric Authentication and Identification Market

The COVID will have an impact on the global stockpile of biometric frameworks, depending on how the situation is resolved internationally and when the production lines begin operating at full capacity. The COVID-19 pandemic has greatly impacted the interest in contact-based biometric frameworks. Even after the pandemic has passed, interest in contact-based biometric frameworks is likely to plummet in order to avoid Covid spread. Likewise, contactless biometric frameworks, for example, face recognition, iris recognition, and voice recognition are expected to see a surge in popularity following COVID-19.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Fixed Biometric Authentication and Identification Market Scope

The fixed biometric authentication and identification market is segmented on the basis of modality, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Modality

• Market Statistics
• Components of a biometric access control system
• Input extraction (sensors and detectors)
• Transmission and signal processing
• Quality assessment (comparing and matching unit)
• Factors affecting biometric quality
• Data storage (system database and template storage)
• Multimodal Biometric
• Classification of Biometric Systems
• Face recognition system
• Eye based recognition systems
• Hand based recognition systems
• Voice recognition systems
• Handwritten recognition systems
• Other biometrics

Application

• Enterprise
• Banking and Financial Institutions
• Government
• Border Control and Airport Security
• Law Enforcement
• Healthcare
• Commercial
• Other Applications

Fixed Biometric Authentication and Identification Market Regional Analysis/Insights

The fixed biometric authentication and identification market is analysed and market size insights and trends are provided by country, modality, and application as referenced above.

The countries covered in the fixed biometric authentication and identification market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

During the forecast period, North America is expected to have the highest revenue share in the fixed biometric authentication and identification market. Profit growth in the North American market is being driven by an increase in the use of cutting-edge technology, the rise of the retail and e-commerce sectors, and the presence of major industry players. North America has a significant influence on the global image recognition industry.

Asia-Pacific region ranks highest in the growth rate. The area accounts for a significant market share in the global fixed biometric authentication and identification market due to the abundance of cost-competitive workforces and raw material advantages. China and Japan are the regional market leaders with significant breakthroughs in surveillance, consumer electronics, and retail. China produces roughly 40% of the world's CCTV cameras. The APAC fixed biometric authentication and identification market is expected to grow at the fastest rate during the forecast period.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Fixed Biometric Authentication and Identification Market Share Analysis

The fixed biometric authentication and identification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to fixed biometric authentication and identification market.

Some of the major players operating in the fixed biometric authentication and identification market are:

• NEC Corporation (Japan)
• CardLogix Corporation (U.S.)
• Fujitsu (Japan)
• Thales (France)
• Integrated Biometrics (U.S.)
• Iris ID, Inc. (U.S.)
• Suprema, Inc. (South Korea)
• HID Global Corporation (U.S.)
• Precise Biometrics (Sweden)
• Aware, Inc. (U.S.)
• Daon, Inc. (U.S.)
• M2SYS Technology (U.S.)
• BIO-key International (U.S.)
• Cognitec Systems GmbH (Germany)
• BioRugged (South Africa)
• DERMALOG Identification Systems GmbH (Germany)
• IDEMIA (France)
• Imageware (U.S.).