BRIEF: Breaking Down the Biometrics Market Boom

BRIEF: Breaking Down the Biometrics Market Boom

The biometrics market has been booming for years now, having kicked into a high gear as demand for enhanced security technologies ramped up in the wake of the 9/11 attacks, and further accelerated when Apple blazed a trail for biometrics in the consumer tech sector with its first fingerprint-scanning iPhone in 2013. What’s remarkable is that the overall biometrics is still firing on all pistons, with growth expected across the board.

To get a sense of what this growth looks like in detail, it’s worth taking a moment to consider some recent market forecasts breaking things down by modality and application.

The facial recognition market offers a great example, with excitement about this technology continuing to grow after Apple’s launch of Face ID in the iPhone X:

Biometric Facial Recognition Market to Reach $7B by 2024: Report

Reports and Data Forecasts $11.3 Billion Facial Recognition Market in 2026

Behavioral biometrics represents another fast-growing modality that has only started to go mainstream:

Behavioral Biometrics will Drive ID Verification as AI Improves: Frost & Sullivan

Meanwhile, a new sector is emerging with the rise of biometric payment cards:

High Competition will Drive $32.65 Billion Smart Card Market: Adroit

Biometric technology is also playing a key role in driving adjacent markets such as smart car security:

Connected Cars Will Increase Demand for Car Security Systems: Technavio

Likewise with respect to the surging e-Passport market:

Biometrics Fuel Booming e-Passports Market: Technavio

All of this is helping to keep the overall biometrics market going at full steam:

Biometrics Market to Hit $59.31 Billion by 2025: Report