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Consumer Biometrics Market Size (2024 - 2029)

The Consumer Biometrics Market is poised for significant growth, driven by the increasing demand for convenient and secure identity verification methods. The market's expansion is fueled by the rising awareness of biometric security, the growing integration of biometrics in consumer electronics, and technological advancements. The proliferation of mobile devices and the internet has further accelerated the need for sophisticated identity authentication, particularly in mobile payments. As consumers increasingly favor biometrics over traditional passwords, the market is expected to experience substantial growth in its market size over the forecast period.

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Market Size of Consumer Biometrics Industry

Consumer Biometrics Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 17.20 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Consumer Biometrics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Consumer Biometrics Market Analysis

The Consumer Biometrics Market has shipped 2380.3 million units in 2020 and is expected to reach 6025.217 million units shipment by 2026, registering a CAGR of 17.2%, during the period of 2021 - 2026 . Rising demand for ease and convenience, availability, and reachability of biometrics is expected to create opportunities for the market further. According to the findings of a survey commissioned by VISA, consumers are ready to leave the password behind. 70% of consumers believe that biometrics are always more comfortable as they do not involve memorizing passwords. More than 65% of consumers are already familiar with biometrics, while 86% are interested in using biometrics to verify the identity or to make payments.

  • The increasing connectivity and digitization have increased customer interactions with devices and services, which is further demanding identity authentication for access. The increasing awareness of the need for sophisticated biometric security, widening the scope of applications of biometrics technology in consumer electronics, to improve customer experiences, and technological advancements are expected to drive the growth of the market over the forecast period.
  • The rapid proliferation of the internet and the growth of mobile devices has led to increased payments through mobile. This mode of payment is anticipated to experience significant growth over the next few years.
  • For instance, according to GSMA, the number of smartphone subscribers in North America is expected to reach 328 million by 2025. Moreover, by 2025, the region is likely to witness an increase in the penetration rates of mobile subscribers (86%) and the internet (80%), the second-highest in the world. Additionally, according to GSMA, by 2025, Europe is estimated to have the highest rate of penetration of the internet (82%) and smartphones (88%).
  • The increasing penetration of smartphones, which are equipped with fingerprint sensors, is among the prominent driver for the growth of fingerprint sensors. According to the Credit Suisse report, in 2018, the shipment of smartphones with fingerprint sensors worldwide stood at 1,082 million units.

Consumer Biometrics Industry Segmentation

Biometrics is a technological and scientific authentication method based on biology and used in information assurance (IA). It is used for security systems and replacement systems for ID cards, tokens or PINs. The study characterizes consumer biometrics market based on the sensing module, and by applications that include automotive, smartphone/tablet. pc/laptop. wearables. IoT devices, etc. The scope of the study is currently focused on key regions, such as North America, Europe, Asia-Pacific, in addition to Latin America, and Middle East & Africa.

By Sensing Module
Fingerprint
Face Recognition
Eye/Iris Recognition
By End Users
Automotive
Smartphone/Tablet
Pc/Laptop
Wearables
IoT Devices
Other End Users
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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Consumer Biometrics Market Size Summary

The consumer biometrics market is experiencing significant growth, driven by the increasing demand for convenience and security in digital interactions. As consumers become more familiar with biometric technologies, such as fingerprint and facial recognition, the market is poised for expansion. The rise in smartphone penetration, particularly those equipped with fingerprint sensors, is a key factor contributing to this growth. The market is also benefiting from technological advancements, such as in-display fingerprint scanners, which enhance user experience and security. The shift towards mobile payments and the need for secure access management are further propelling the adoption of biometric solutions across various consumer electronics.

Regionally, Asia-Pacific is emerging as a dominant force in the consumer biometrics market, fueled by its large population, urbanization, and increasing purchasing power. Major smartphone manufacturers in the region are actively integrating biometric sensors into their devices, driving demand. Additionally, the automotive sector is exploring biometric solutions for enhanced security and user convenience. Companies in the market are adopting aggressive strategies, including product innovations and strategic acquisitions, to strengthen their market presence. The ongoing developments and investments in biometric technologies indicate a robust growth trajectory for the consumer biometrics market in the coming years.

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Consumer Biometrics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers and Restraints

    3. 1.3 Market Drivers

      1. 1.3.1 Widening Applications of Biometrics

      2. 1.3.2 Technological Advancements in Biometrics

    4. 1.4 Market Restraints

      1. 1.4.1 Data Security and Privacy Concerns

    5. 1.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Industry Value Chain Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Sensing Module

      1. 2.1.1 Fingerprint

      2. 2.1.2 Face Recognition

      3. 2.1.3 Eye/Iris Recognition

    2. 2.2 By End Users

      1. 2.2.1 Automotive

      2. 2.2.2 Smartphone/Tablet

      3. 2.2.3 Pc/Laptop

      4. 2.2.4 Wearables

      5. 2.2.5 IoT Devices

      6. 2.2.6 Other End Users

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East & Africa

Consumer Biometrics Market Size FAQs

The Consumer Biometrics Market is projected to register a CAGR of 17.20% during the forecast period (2024-2029)

Apple Inc., IDEX Biometrics ASA, Assa Abloy AB, Idemia France SAS and Synaptics Inc. are the major companies operating in the Consumer Biometrics Market.

Consumer Biometrics Market Report Snapshots

Consumer Biometrics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)