Increasing Crime Rates to Fuel Biometric Technologies Market Growth During Forecast Period
Improving security and confirming criminal identification are among the primary applications of biometric technologies. Most of the time, biometric characters such as iris, voice, fingerprint, signature, DNA, hand geometry, and vein patterns are scanned to identify perpetrators. Biometric systems are mainly installed to keep a check on crime and terrorist attacks. Millions of criminal cases have already been resolved with the help of biometric technologies. In surveillance, biometric technology is utilized in CCTV devices, and a face recognition system is implemented to record and note the facial features of people photographed by the camera; this data aids in the identification and verification of perpetrators involved in terrorist and criminal activities.
Developing countries such as India proactively engage in introducing technologically advanced biometrics solutions. In 2023, Delhi police solved 160 cases using fingerprint sensors. In 2023, investigators at Delhi Police’s Fingerprint Bureau paid more than 25,000 visits to crime scenes across the city. With the rise in crimes over the years, the demand for biometric technologies and professionals well-versed in handling these products is also increasing. The Automated Multi-modal Biometric Identification System (AMBIS) and an invisible crew of nearly 300 cops from the Fingerprint Bureau of Maharashtra CID have quietly contributed toward solving 178 criminal cases in the state since May 2022. These offenses include thefts and robberies of valuables worth US$ 0.8 million. Further, several governments are investing in the implementation of biometric surveillance. For instance, in January 2024, the US police increased the scale of biometric surveillance usage. The Electronic Frontier Foundation (EFF) has an ongoing biometrics project called the Atlas of Surveillance, chronicling the growing number of real-time crime centers, which are related to data-heavy crime-fighting fusion centers. The Atlas of Surveillance project comprises real-time crime centers located in big and small cities in 29 states. Thus, increasing crime rates are expected to boost the biometric technologies market in the coming years.
Biometric Technologies Market: Industry Overview
The biometric technologies market analysis is segmented on the basis of component, type, authentication type, and end user. Based on component, the market is segmented into hardware, software, and services. Based on type, the biometric technologies market is segmented into contact, contactless, and hybrid. Based on authentication type, the biometric technologies market is bifurcated into single-factor authentication and multifactor authentication. Based on end user, the biometric technologies market is segmented into government, BFSI, healthcare, defense and security, and others. In terms of geography, the biometric technologies market is segmented into North America, Europe, APAC, the MEA, and SAM. In terms of revenue, North America dominated the biometric technologies market in 2022.
The APAC biometrics technologies market is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The market in this region is expected to record the highest CAGR from 2022 to 2030. An upsurge in urbanization and digitalization results in a rise in the number of cyberattacks and data-breaching activities. According to the World Economic Forum, APAC observed the highest year-over-year increase in weekly cyberattack numbers during the first quarter of 2023, averaging 1,835 attacks per organization, which raises concern among organizations to protect their sensitive information against cyber-attacks. Thus, a subsequent increase in the adoption of biometric software among consumers in APAC for authentication and identity verification purposes propels the biometric technologies market.
The growing demand for biometric technologies encourages key market players in APAC to expand their global footprint by acquiring larger-than-before consumer bases. In February 2023, Aratek Biometrics (as per its press release) organized numerous events in Mexico, Kenya, Amsterdam, France, and Singapore to showcase cutting-edge digital identity and biometric security technologies. This also allows the company to increase awareness related to the importance of biometric solutions, providing valuable insights into the trending biometric authentication solutions, and meeting the needs of governments and commercial entities around the world. Thus, after North America, Asia Pacific is estimated to hold a significant biometric technologies market share.
Biometric Technologies Market: Competitive Landscape and Key Developments
Aware Inc, Thales SA, Cognitec Systems GmbH, NEC Corp, IDEMIA France SAS, HID Global Corp, Fujitsu Ltd, Leidos Holdings Inc, M2SYS Technology, and Precise Biometrics AB are among the key players profiled in the biometric technologies market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. The biometric technologies market report provides detailed market insights, as per company press releases, which help the key players strategize their market growth.
• In November 2023, Aware and Serban Group collaborated to develop a biometric authentication solution for the Latin American and European markets. The alliance intends to improve the delivery of biometric digital identity and authentication solutions to financial services organizations, governments, and commercial enterprises throughout the abovementioned regions.
• In January 2023, Cognitec introduced a new version of its FaceVACS-Entry technology, which allows for the comparison of biometric photos against facial images from ID documents or databases. The product includes Cognitec’s ISO compliance software and a robust matching algorithm for fast verification and identification.