Fingerprint Biometrics Market Expected to Reach $74.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Fingerprint Biometrics Market," The fingerprint biometrics market was valued at $21.6 billion in 2022, and is estimated to reach $74.1 billion by 2032, growing at a CAGR of 13.4% from 2023 to 2032.

Fingerprint biometrics is a technology that involves the identification and verification of individuals based on their unique fingerprint patterns. The human fingerprint is characterized by ridges, whorls, and minutiae points, forming a distinctive and highly individualized set of features. Fingerprint biometrics systems utilize specialized sensors to capture these unique patterns and convert them into digital representations, commonly known as fingerprint templates. These templates are then stored and used for authentication purposes. The process involves comparing the captured fingerprint data with pre-registered templates to confirm a person's identity. Fingerprint biometrics finds widespread applications in various sectors, including security access control, mobile devices, law enforcement, and financial transactions. The technology is valued for its reliability, accuracy, and ease of use, making it a popular choice for identity verification in both physical and digital environments.

In addition, the fingerprint biometrics market is expected to witness notable growth owing to increasing demand for biometrics solutions in consumer-facing applications and rising adoption from the public and government sectors in emerging countries. Moreover, key technological developments leading to the commodification of biometrics are expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, operational concerns related to privacy, security, and ROI limit the growth of the fingerprint biometrics market forecast.

On the basis of type, AFIS technology dominated the fingerprint biometrics market size in 2022, owing to the continuous improvement in accuracy and speed of fingerprint matching algorithms. AFIS systems are becoming more efficient in processing large databases and delivering rapid and reliable results, making them invaluable in law enforcement and identity verification applications. However, the non-AFIS technology is expected to witness the fastest growth, owing to the deployment of non-AFIS fingerprint technology in access control systems for various sectors, including commercial buildings, healthcare facilities, and financial institutions. These systems contribute to heightened security by allowing authorized individuals seamless and touchless entry, aligning with the broader shift toward contactless technologies in the post-pandemic era.

Region-wise North America dominated the fingerprint biometrics market share in 2022, owing to the integration of fingerprint recognition in access control systems for both physical and digital environments, including workplaces, government facilities, and financial institutions. The increased emphasis on security and identity verification fueled the deployment of fingerprint biometrics in smartphones, laptops, and other personal devices. However, Asia-Pacific is expected to witness the fastest growth in the upcoming year, owing to the surge in the implementation of fingerprint biometrics for financial transactions, access control, and workforce management, reflecting a growing emphasis on security and efficiency. Mobile devices equipped with fingerprint sensors became commonplace, contributing to the seamless integration of biometrics into daily life. Governments and businesses in the region were investing in research and development to enhance the accuracy and reliability of fingerprint recognition systems.

The COVID-19 pandemic has brought about a notable transformation in the landscape of fingerprint biometrics, primarily due to concerns related to hygiene and the potential transmission of viruses through surface contact. Traditional fingerprint recognition systems, often employed in various sectors for secure access and identification, faced challenges as individuals became more cautious about physical contact with shared surfaces, such as fingerprint scanners. This prompted a rapid shift toward touchless biometrics technologies, including facial recognition and iris scanning, which gained popularity for their ability to provide secure identification without the need for direct physical contact.

The widespread use of face masks during the pandemic presented challenges for facial recognition systems, leading to a reevaluation of touchless alternatives. While facial recognition remained relevant, there was a growing interest in refining and improving fingerprint biometrics systems to make them more conducive to a hygienic environment. To solve hygienic issues and improve the security of fingerprint-based authentication, innovations including antimicrobial coatings on fingerprint sensors and the creation of ruggedized hardware were made. Furthermore, the pandemic has accelerated the adoption of mobile-based biometrics solutions, where individuals use their smartphones for authentication instead of relying on physical contact with external devices. This shift aligns with the broader trend of integrating biometrics authentication into mobile applications, contributing to a more seamless and touch-free user experience.

Technological Advancements

Technological advancements refer to the continuous evolution and improvement of existing technologies or the development of entirely new innovations that push the boundaries of what is possible. These advancements span various fields, including information technology, healthcare, artificial intelligence, robotics, and more. In recent years, there have been notable strides in areas such as quantum computing, 5G technology, and artificial intelligence, each offering transformative capabilities. Quantum computing, for example, holds the potential to revolutionize computation by processing information in ways that classical computers cannot. The widespread deployment of 5G technology promises faster and more reliable wireless communication, enabling new applications and connectivity for devices. Artificial intelligence, powered by machine learning and deep learning algorithms, has seen tremendous progress, enabling advancements in natural language processing, computer vision, and autonomous systems. These technological strides not only enhance our capabilities but also contribute to shaping the future landscape of industries, economies, and societies as a whole. The rapid pace of technological advancements underscores the dynamic nature of innovation and its profound impact on various aspects of our daily lives.

Key Findings of the Study

• By offering, the hardware segment led the fingerprint biometrics market in terms of revenue in 2022.
• By type, the AFIS technology segment is anticipated to have the fastest growth rate for fingerprint biometrics market.
• By end user, the automotive segment is anticipated to have fastest growth rate for fingerprint biometrics market.
• By region, North America generated the highest revenue for fingerprint biometrics market analysis in 2022.

The key players profiled in the fingerprint biometrics industry analysis are Thales, Bio-Key International, HID Global Corporation, M2SYS Technology, NEC Corporation, IDEMIA, Anviz Global Inc., DERMALOG Identification Systems GmbH, Fingerprint Cards AB, and FingerCheck. These players have adopted various strategies to increase their market penetration and strengthen their position in the fingerprint biometrics industry.