Biometric Technology Market to Grow to $59.31 Billion by 2025

Biometric Technology Market to Grow to $59.31 Billion by 2025

Due to the growing use of biometrics to counter security threats, the biometric technology market is expected to bloom over the next few years.

  • By Sydny Shepard
  • Apr 22, 2019

Th global biometrics technology market size is expected to reach $59.31 billion by 2025, according to a new study by Grand View Research, Inc. Surging demand for biometric technology across various applications is projected to favor the growth of the market over the next few years.

The logistics/transport segment of the biometrics market was leading the pack in 2017 but with new solutions integrating biometrics into countering security threats, the market is expected to grow in several verticals including public, private and commercial. 

The non-AFIS (Automated Fingerprint Identification System) accounted for 38.1 percent of the overall market revenue in 2017, while AFIS applications are poised to register significant CAGR during the forecast period, owing to its use in fingerprint and palm identification for many civil applications.

Biometrics technology is being increasingly acknowledged for e-passport programs and to keep a check on illegal migrations. Government organizations and defense services are further expected to experience a sharp rise in the demand for the technology. In addition, it is used in banking and finance to increase efficiency and to prevent frauds. This will further lead to positive influent in the growth of the market. 

About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • UL Solutions Launches Artificial Intelligence Safety Certification Services

    UL Solutions Inc., a global leader in safety science, today announced the launch of artificial intelligence (AI) safety certification services, enabling comprehensive assessments for evaluating the safety of AI-powered products. Read Now

  • ESA Announces Initiative to Introduce the SECURE Act in State Legislatures

    The Electronic Security Association (ESA), the national voice for the electronic security and life safety industry, has announced plans to introduce the SECURE Act in state legislatures across the country beginning in 2025. The proposal, known as Safeguarding Election Candidates Using Reasonable Expenditures, provides a clear framework that allows candidates and elected officials to use campaign funds for professional security services. Read Now

    • Guard Services

  • Ransomware Attacks Rise for the First Time in Six Months

    Ransomware attacks have risen for the first time in six months, increasing by 28% month-on-month to 421 attacks. While overall attack volume remained below 500, the uptick may signal a renewed escalation heading into the year’s most active period for cyber criminals. Read Now

  • Report: 47 Percent of Security Service Providers Are Not Yet Using AI or Automation Tools

    Trackforce, a provider of security workforce management platforms, today announced the launch of its 2025 Physical Security Operations Benchmark Report, an industry-first study that benchmarks both private security service providers and corporate security teams side by side. Based on a survey of over 300 security professionals across the globe, the report provides a comprehensive look at the state of physical security operations. Read Now

    • Guard Services

  • Identity Governance at the Crossroads of Complexity and Scale

    Modern enterprises are grappling with an increasing number of identities, both human and machine, across an ever-growing number of systems. They must also deal with increased operational demands, including faster onboarding, more scalable models, and tighter security enforcement. Navigating these ever-growing challenges with speed and accuracy requires a new approach to identity governance that is built for the future enterprise. Read Now

Most   Popular

New Products

  • Mobile Safe Shield

    Mobile Safe Shield

    SafeWood Designs, Inc., a manufacturer of patented bullet resistant products, is excited to announce the launch of the Mobile Safe Shield. The Mobile Safe Shield is a moveable bullet resistant shield that provides protection in the event of an assailant and supplies cover in the event of an active shooter. With a heavy-duty steel frame, quality castor wheels, and bullet resistant core, the Mobile Safe Shield is a perfect addition to any guard station, security desks, courthouses, police stations, schools, office spaces and more. The Mobile Safe Shield is incredibly customizable. Bullet resistant materials are available in UL 752 Levels 1 through 8 and include glass, white board, tack board, veneer, and plastic laminate. Flexibility in bullet resistant materials allows for the Mobile Safe Shield to blend more with current interior décor for a seamless design aesthetic. Optional custom paint colors are also available for the steel frame.

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.