The market for fingerprint biometrics generated $20.3 billion in revenue in 2022. The market is anticipated to develop at a CAGR of 11.6% from 2023 to 2033, reaching US$ 67.1 billion.
Advanced algorithms employed in fingerprint biometrics technology allow users to quickly authenticate themselves on applications or open devices. Consumer electronics, government and law enforcement, aerospace, healthcare, defence & military, banking, financial services and insurance (BFSI), as well as the travel and immigration industries, can all benefit from this technology’s compatibility with any sensor, operating system, or platform. 34.8% of the worldwide biometrics market is made up of fingerprint biometrics.
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The fingerprint biometrics market refers to the industry that provides technology and services for the identification and verification of individuals based on their unique fingerprint patterns. This technology is used in various applications, such as access control, identification and authentication, and law enforcement. Fingerprint biometrics can provide a high level of security and accuracy in identifying individuals, and are widely used in various industries, including healthcare, banking, and transportation.
The market is driven by various factors, including increasing demand for secure and reliable identification and authentication solutions, growing adoption of mobile biometrics, and the need for efficient and effective law enforcement and border control systems. The demand for fingerprint biometrics is also driven by the increasing need for contactless biometric solutions in the wake of the COVID-19 pandemic.
The market is highly competitive, with a large number of established players and new entrants offering innovative products and services. Key players in the market include Thales Group, HID Global Corporation, NEC Corporation, Gemalto NV, and Crossmatch Technologies Inc.
The fingerprint biometrics market is expected to grow in the coming years, driven by factors such as the increasing adoption of biometric solutions for mobile devices, the growing demand for biometric payment solutions, and the need for advanced security and authentication solutions in various industries. The market is also expected to benefit from increasing investments in research and development to improve the accuracy and performance of fingerprint biometrics, as well as the development of new applications and use cases.
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Competitive Landscape
Growing advancements in the development of sensors along with their rising integration in various devices, applications and security gateways are encouraging the research & investment in the development of the fingerprint biometrics market.
- In December 2022, Aircuve had updated its two-factor authentication (2FA) technology to extend the support for fingerprint biometrics.
- The update addresses work-from-home (WFH) applications and aims to assist larger businesses in adapting to security gaps.
Fingerprint biometrics Market by Category
By Authentication Type:
- Single-factor Authentication
- Multi-factor Authentication
By Offering:
- Hardware
- Software
By Mobility:
- Fixed
- Portable
By Industry Vertical:
- Government
- Consumer Electronics
- Military and Defense
- Healthcare
- Banking & Finance
- Travel & Immigration
- Automotive
- Security
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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