Enjoy complimentary customisation on priority with our Enterprise License!
Market research analysts at Technavio have predicted that the biometrics market in North America will grow steadily at a moderate CAGR of more than 12% by 2020. This market research analysis identifies the increase in number of identity thefts as one of the primary factors that will contribute to the growth of this market. The continuous rise in the use of websites and web applications by end-users coupled with the growing popularity of online consulting and sharing health-related results online has led to a rapid increase in the number of identity thefts. This recent increase in the instances of identity thefts has compelled many end-users to adopt secure authentication solutions. Since biometric security devices efficiently assess and verifies the identity of individuals based on their physical or behavioral characteristics, they are very reliable and have been identified as one of the market's strongest authentication solutions.
The launch of advanced smartphones and mobile devices that are equipped with built-in biometric sensors has subsequently increased the use of biometrics technology in the mobile payment industry. Though the rate of adoption of biometrics for mobile payments is currently slow, the shift from the use of passwords to more secure solutions will lead to an increase in the adoption of biometrics for mobile payments. Moreover, smart device manufacturers have also started embedding their devices with various biometric sensors for fingerprint, voice recognition, and finger vein scanners. The adoption of mobile biometric authentication technologies is predicted to have a positive impact on the growth of the market during the forecast period.
During 2015, the fingerprint recognition segment dominated the biometrics market in North America and accounted for almost 50% of the total market shares. The augmented adoption of fingerprint sensors in various end-user segments and the introduction of advanced technologies, such as 3-D fingerprinting and touchless sensing technology, will fuel the growth of the biometric authentication devices market in the region.
Owing to an increase in investments and the early adoption of biometric technology, the biometric market in North America will have a constant demand from the government sector. According to this market research analysis, this segment will account for about 40% of the total market share by 2020 and will dominate the market throughout the forecast period.
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.
The leading vendors in the market are -
The other prominent vendors in the market are Advanced Biometrics, Amano Cincinnati, Aware, BIO-Key International, Cognitec Systems, DigitalPersona, Fingertec USA, Fujitsu, GAMASIS, Griaule Biometrics, Nuance Communications, Precise Biometrics, and ZKTeco.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market opportunities
PART 07: Market landscape
PART 08: Market segmentation by technology
PART 09: Market segmentation by end-user
PART 10: Market segmentation by application
PART 11: Biometrics market in US
PART 12: Biometrics market in Canada
PART 13: Buying criteria
PART 14: Market drivers
PART 15: Impact of drivers
PART 16: Market challenges
PART 17: Impact of drivers and challenges
PART 18: Market trends
PART 19: Vendor landscape
PART 20: Vendor analysis
PART 21: Key vendor analysis
PART 22: Appendix
PART 23: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.