Global Biometrics Markets, 2021-2026 – National ID Programs Build

DUBLIN, Nov. 12, 2021 /PRNewswire/ — The “Biometrics – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Global Biometrics Market to Reach $44.1 Billion by 2026

Amid the COVID-19 crisis, the global market for Biometrics estimated at US$19.5 Billion in the year 2020, is projected to reach a revised size of US$44.1 Billion by 2026, growing at a CAGR of 14.8% over the analysis period.

The COVID-19 pandemic has resulted in unprecedented disruptions and sweeping changes across various industries, and created a notable demand for touchless biometric solutions.

Advanced multifactor and multimodal biometric platforms are gaining increasing relevance due to their authentication accuracy and alignment with social distancing guidelines for COVID-19. Latest rules specified by various governments require businesses to avoid using palm print, fingerprint and hand-key readers for preventing physical contact and spread of the virus.

These measures are paving way for iris scans and facial recognition technologies that are user-friendly and suitable for diverse environments. With people vary of touching card readers, keypads, elevator buttons, and door handles, facial and iris recognition, as well as other such contactless biometric technologies are likely to replace methods that require repeated touching of surfaces by people.

Contactless biometrics technology is set to experience remarkable gains due to the confluence of factors such as COVID-19-related guidelines and adoption of digital security solutions. The increasing focus on public safety monitoring coupled with the need for early detection and patient screening are driving the adoption of advanced contact-less biometrics technology.

Fuelled by rising application of the technology for identity verification, transactions, access control and payments, the global market for contactless biometrics technology is projected to post a strong growth rate through the year 2030. The technology is anticipated to receive a major boost from COVID-19 pandemic and associated need for contactless biometrics coupled with rising adoption of online transactions. The concept is expected to witness a notable uptick in facilities requiring stringent surveillance, access control and law enforcement.

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In addition, biotechnology and healthcare units are estimated to hold the major share, mainly for facial recognition. The adoption of security and innovative solutions for healthcare applications is expected to foster demand for iris scans and facial recognition. Contactless biometrics is anticipated to find rising application for identity verification and access control while software solutions are estimated to enjoy the dominating position.

MARKET TRENDS & DRIVERS

• Next-Generation Biometric Technologies to Transform Market Landscape

• Finger-Vein Recognition

• 3D Face Recognition

• Sensor Interoperability

• Biometrics Authentication in the Cloud

• AI &…