Fingerprint Biometrics Market is expected to Reach USD 74.1 billion, CAGR of 13.4% - 2032

Surge in penetration of user identification devices and increased spending in the defense sector

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 22, 2024 /EINPresswire.com/ -- The 𝐅𝐢𝐧𝐠𝐞𝐫𝐩𝐫𝐢𝐧𝐭 𝐁𝐢𝐨𝐦𝐞𝐭𝐫𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 is expected to witness notable growth owing to surge in penetration of user identification devices and increased spending in the defense sector. Moreover, key technological developments leading to the commodification of biometrics are expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, operational concerns related to privacy, security, and ROI limit the growth of the fingerprint biometrics market. The global fingerprint biometrics market was valued at $21.6 billion in 2022, and is projected to reach $74.1 billion by 2032, growing at a CAGR of 13.4% from 2023 to 2032.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 345 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/4370

Fingerprint biometrics is a technology that involves the identification and verification of individuals based on their unique fingerprint patterns. The human fingerprint is characterized by ridges, whorls, and minutiae points, forming a distinctive and highly individualized set of features. Fingerprint biometrics systems utilize specialized sensors to capture these unique patterns and convert them into digital representations, commonly known as fingerprint templates. These templates are then stored and used for authentication purposes. The process involves comparing the captured fingerprint data with pre-registered templates to confirm a person's identity. Fingerprint biometrics finds widespread applications in various sectors, including security access control, mobile devices, law enforcement, and financial transactions. The technology is valued for its reliability, accuracy, and ease of use, making it a popular choice for identity verification in both physical and digital environments.

By offering, the hardware segment held the major share in 2022, garnering nearly half of the global fingerprint biometrics market revenue, as fingerprint recognition technology was becoming more widespread and integrated into various devices, including smartphones, laptops, and access control systems. Manufacturers were focusing on improving the resolution and sensitivity of fingerprint sensors to ensure more reliable and secure authentication. However, the services segment would also showcase the fastest CAGR of 15.9% during the forecast period, owing to the use of fingerprint biometrics in healthcare services, providing secure access to patient records and ensuring the accuracy of medical information. Moreover, the deployment of fingerprint technology in access control systems for buildings and secure facilities has gained momentum, enhancing physical security measures. As technology continues to evolve, the integration of fingerprint biometrics with artificial intelligence and machine learning is expected to further improve accuracy, speed, and overall reliability, expanding its applications in a wide range of services, from law enforcement to e-commerce.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/fingerprint-biometrics-market/purchase-options

By end user, the government and defense segment accounted for nearly one-fourth of the global fingerprint biometrics market share in 2022, owing to the integration of fingerprint technology into national identification systems and e-passports, allowing governments to strengthen border control and streamline identity verification processes. In addition, many defense and law enforcement agencies are increasingly leveraging fingerprint biometrics for criminal investigations and intelligence gathering. However, the travel and tourism segment would also display the fastest CAGR of 17.8% throughout the forecast period, owing to the increasing adoption of fingerprint recognition technology at airports and border control checkpoints. This development enhances security measures by providing a more reliable and efficient method of verifying travelers' identities compared to traditional methods such as passports and boarding passes.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

NEC Corporation, Thales, Bio-Key International, FingerCheck, DERMALOG Identification Systems GmbH, IDEMIA, HID Global Corporation, M2SYS Technology, Anviz Global Inc., Fingerprint Cards AB

The report analyzes these key players in the global fingerprint biometrics market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/4370

On the basis of type, AFIS technology dominated the fingerprint biometrics market size in 2022, owing to the continuous improvement in accuracy and speed of fingerprint matching algorithms. AFIS systems are becoming more efficient in processing large databases and delivering rapid and reliable results, making them invaluable in law enforcement and identity verification applications. However, the non-AFIS technology is expected to witness the fastest growth, owing to the deployment of non-AFIS fingerprint technology in access control systems for various sectors, including commercial buildings, healthcare facilities, and financial institutions. These systems contribute to heightened security by allowing authorized individuals seamless and touchless entry, aligning with the broader shift toward contactless technologies in the post-pandemic era.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/4370

Region-wise North America dominated the fingerprint biometrics market share in 2022, owing to the integration of fingerprint recognition in access control systems for both physical and digital environments, including workplaces, government facilities, and financial institutions. The increased emphasis on security and identity verification fueled the deployment of fingerprint biometrics in smartphones, laptops, and other personal devices. However, Asia-Pacific is expected to witness the fastest growth in the upcoming year, owing to the surge in the implementation of fingerprint biometrics for financial transactions, access control, and workforce management, reflecting a growing emphasis on security and efficiency. Mobile devices equipped with fingerprint sensors became commonplace, contributing to the seamless integration of biometrics into daily life. Governments and businesses in the region were investing in research and development to enhance the accuracy and reliability of fingerprint recognition systems.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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