In an optimistic scenario, the market, valued at $1.92 billion in 2024, is anticipated to grow at a CAGR of 21.26%, reaching $13.20 billion by 2034.
The global biometric authentication and identification market is estimated to reach $8,798.9 million in 2026, at a compound annual growth rate (CAGR) of 16.30% during the forecast period 2021-2026.
As per BIS Research, the global decentralized identity market is still at a nascent stage with the identity management systems shifting from centralized and federated identity solution to decentralized identity solutions.
The global biometric authentication and identification market is expected to witness a significant growth during the forecast period (2018-2023) registering a CAGR of 22.54%.
(Focus on Area, Swipe and Touch Sensors, Technology- Capacitive, Optical, Ultrasonic, Thermal Sensors, Application- Mobile Devices, Travel, Commercial, Smart Cards, Residential, Automotive, Healthcare and Government)
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The global forensic technology market was estimated to be $11.26 billion in 2016 and is expected to grow over $19.25 billion in 2022 at a CAGR of 9.35% through the forecast period. The global forensic technology market has a high potential in future owing to the rising demand for innovation in forensic technologies in various applications and sectors.
With associated advantages of multi-level security, convenience and advanced quality, the global biometric market value is anticipated to grow from $XX billion in 2015 to $XX billion in 2022 at an estimated CAGR of XX from 2015 to 2022. The commercial application segment is expected to grow at a CAGR of XX from 2015 to 2022 as the demand for biometrics integrated smartphones, tablets, and wearable
Rising concerns regarding safety and security have surfaced a greater than ever demand for biometrics, for the purpose of identification and authentication. Incorporation of biometric technologies in security systems has been contributing extensively to the escalation of biometrics market in India.
The global biometric authentication and identification market is expected to witness a significant growth during the forecast period (2018-2023) registering a CAGR of 22.54%.
With associated advantages of multi-level security, convenience and advanced quality, the global biometric market value is anticipated to grow from $XX billion in 2015 to $XX billion in 2022 at an estimated CAGR of XX from 2015 to 2022. The commercial application segment is expected to grow at a CAGR of XX from 2015 to 2022 as the demand for biometrics integrated smartphones, tablets, and wearable
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