According to the recent study the biometric system market is projected to reach an estimated $51.3 billion by 2027 from $26 billion in 2021, at a CAGR of 12% from 2021 to 2027. Growth in this market is primarily driven by increasing focus of safety and security in private and business sectors related to unauthorized access, growth in the e-passport program for personal identification, and the growing adaption of voice recognition systems in the banking and financial services sector.

Browse 107 figures / charts and 64 tables in this 181 -page report to understand trends, opportunities and forecast in biometric system market by  technology (fingerprint, AFIS, iris recognition, facial recognition, hand geometry, vein recognition, signature recognition, voice recognition and others), by type (physiological type and behavioral type), by end use industry (government and law enforcement, commercial and retail, health care, travel and immigration, financial and banking and others) and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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“AFIS market is expected to remain the largest segment during the forecast period.”

Based on technology, the biometric system market is segmented into fingerprint, AFIS, iris recognition, facial recognition, hand geometry, vein recognition, signature recognition, voice recognition and others. Lucintel forecasts that the AFIS market is expected to remain the largest segment due to the increasing demand in various law enforcement and civil applications. The voice recognition technology segment is expected to experience the highest growth rate in the forecast period supported by increasing demand from the banking and finance sector in addition to the healthcare sector.

“Within the biometric system market, the government and law enforcement segment is expected to remain the largest end use industry”

Based on end use industry the government and law enforcement segment is expected to witness the highest growth over the forecast period.

“Asia pacific will dominate the biometric system market in near future”

APAC  is also expected to witness highest growth over the forecast period.

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Major players of biometric system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. 3M Cogent, Inc., Safran (Morpho), Hid Global, IDEMIA, NEC Corporation, Thales Group, Bio-Key, International Inc., Precise Biometrics AB., Suprema Inc., IriTech, Inc. and Fujitsu are among the major biometric system providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/biometric-system-market.aspx or [email protected]