Biometrics in North America: Key market research findings
- Increased adoption of cloud-based biometrics drives market growth
- Fingerprint recognition is the dominant shareholder in the market
- Key vendors—3M Cogent, Crossmatch Technologies, M2SYS Technology, NEC, and Safran
Technavio’s market research analysts predict the biometrics market in North America to grow at a CAGR of more than 12% between 2016 and 2020. The availability of cloud-based biometrics is the primary driver for growth in the market. Cloud-based biometric technology makes use of cloud services through a web-based user interface that can be a browser or mobile application. Cloud-based biometric infrastructure includes a server of the biometric template database and the processing data generated during the individual’s identification and verification. Currently, the biometric identification application accounts for almost 48% of the market share to dominate the biometrics market in North America. This segment is thriving due to the increasing adoption of biometric passports, visas, and driving licenses in the region.
The new market research report from Technavio presents a breakdown and analysis of the biometrics segments based on technology.
“The emergence of mobile biometrics payment is the latest trend in the market. There’s been a rise in the adoption of mobile biometric technology with the advent of smartphones that have inbuilt fingerprint scanners and other biometric sensors. The most common biometric systems used in mobile devices are fingerprint recognition, voice recognition, and face recognition. For instance, Apple has launched a fingerprint mobile payment technology, Apple Pay, on iPhone 6 and 6 Plus,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
At present, the fingerprint recognition technology is the dominant shareholder in the market by occupying close to 47% of the market share. The growing adoption of fingerprint scanners for identification across various end-user segments is the driving force behind growth in this sector. The market is projected to witness steady growth during the forecast period due an increase in the adoption of other identification solutions such as facial and iris recognition. The introduction of advanced fingerprint technologies such as 3-D fingerprinting and the touchless sensing technology is expected to reflect positively on the fingerprint recognition technology market in North America by 2020.
The key vendors in the biometrics market in North America include 3M Cogent, Crossmatch Technologies, M2SYS Technology, NEC, and Safran. The presence of several small- and medium-scale biometric security companies results in this market being highly competitive and the market’s high potential is expected to attract many new players. Due to the constant change in end-user preferences and advancements in technology, vendors have realized the need to distinguish their services and product offerings through a clear and unique value proposition. Large vendors have also started acquiring small biometric companies to gain a considerable share of the market and also increase their product portfolio.
A more detailed analysis is available in the Technavio report, Biometrics Market in North America 2016-2020.
We can customize reports by other regions and specific segments upon request.
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