Biometrics Global Market to Witness a Robust Growth of 15% through 2030 to Reach $100 billion

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Industry Experts, Inc. published the latest version its report on "Biometrics Market". According to the analysts at Industry Experts, the global Biometrics market is estimated at US$43.9 billion in 2024 and projected to post a CAGR of 14.7% between 2024 and 2030 to reach US$100 billion in 2030.

The global biometrics industry is witnessing robust growth driven by a rising need for secure and efficient authentication in the government, BFSI (Banking, Financial Services & Insurance), security, and consumer electronics sectors. Innovations in artificial intelligence (AI), integration with the Internet of Things (IoT), and the shift towards contactless and digital identity verification are propelling this adoption. Biometric technologies including fingerprint scanning, facial recognition, iris recognition, and voice authentication, are increasingly popular for their potential to improve security and user experience. The widespread adoption of mobile devices, smart home systems, wearables, and IoT-enabled appliances has accelerated the incorporation of biometrics, providing secure and customized access.

The fingerprint segment dominates the global biometrics market by technology in 2024, capturing the largest share of 41.2%, owing to its widespread use in smartphones, consumer electronics, and commercial attendance systems. Its affordability, ease of integration, and technological advancements that improve speed and accuracy continue to drive demand. On the other hand, the iris recognition segment is expected to register the fastest CAGR of 16.6% from 2024 to 2030, owing to its exceptional accuracy and contactless functionality.

The market for biometrics analyzed in this report on a global basis covering all major regions including North America (The United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World.

The study analyzes the global market for biometrics with respect to Technology – Fingerprint Recognition, Facial Recognition, Iris Recognition, Voice Recognition, Vein Recognition, Palm Print Recognition, Hand Geometry, Signature Recognition and Others (Including Gait Recognition, DNA Recognition, Olfactory Recognition [Odor Analysis], Electroencephalograph [EEG], and others); Authentication Type - Single-Factor Authentication (SFA) and Multi-Factor Authentication (MFA); Application – Civil Identification, Criminal Identification, Physical Access Control, Logical Access Control, Surveillance & Monitoring and Other Biometric Applications (Including consumer identification, transactional access control, Healthcare & Patient Identification and others); and End-User – Government & Public Sector, Security, Defense, Consumer Electronics, Healthcare, BFSI (Banking, Financial Services & Insurance), Transportation, Travel & Logistics and Other End-Users (Including Automotive, Education & E-Learning, IT & Telecom, Retail & E-Commerce, and others)

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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