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A recent report published by Infinium Global Research on AI-enabled biometric market provides in-depth analysis of segments and sub-segments in the global as well as regional AI-enabled biometric market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional AI-enabled biometric market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global AI-enabled biometric market.
Biometric systems that are AI-enabled can improve traditional techniques by gathering and using data; these systems provide substantial benefits in the field of Artificial Intelligence (AI). AI is being integrated into many different sectors and research fields as its performance, speed, accuracy, and security continue to improve. The benefits of AI-enabled authentication capabilities extend to biometrics, a type of identification based on distinctive physical, behavioral, or biological attributes. This technology improves security by creating robust barriers against any breaches, reduces human error, and speeds up decision-making processes. The introduction of Artificial Intelligence (AI) systems, including facial recognition, presents new obstacles to the protection of criminal procedural rights, while AI-based face and music biometric technologies help to shape changing consumer behavior and enrich the existing literature on the subject. The market for AI-enabled biometric devices is expanding quickly because of developments in artificial intelligence. For safe identification, these systems make use of distinctive biological, behavioral, or physical characteristics. AI-enabled biometrics is revolutionizing authentication capabilities with improved performance, accuracy, and security that find applications across sectors. The growing need for dependable, effective, and safe identity verification solutions is driving the market's rise and is indicative of a larger movement in biometric technologies toward the incorporation of AI.
The market for AI-enabled biometric systems is expanding due to the growing need for sophisticated security solutions. Industry concerns about identity theft, cyberattacks, and unauthorized access are driving the need for more advanced authentication techniques. AI-enabled biometric solutions reduce human error, improve security, and identify distinctive features with unmatched precision and speed. The capacity of these systems to offer streamlined, dependable, and impenetrable identity verification is driving their increasing acceptance in a variety of industries, including government, healthcare, and finance. The growing demand for AI-enabled biometric systems is a result of organizations prioritizing strong security measures, which is propelling innovation and industry development. Further propelling the market's expansion is the Internet of Things' (IoT) integration with AI-enabled biometric systems. The requirement for safe and easy user authentication is growing as IoT devices proliferate. The total security of networked systems is improved by AI-enabled biometric solutions, which provide strong identity verification. Easy and secure access to smart homes, medical devices, and other Internet of things applications is made possible by this integration. The need for AI-enabled biometric systems is increased by the increasing interconnectedness of the environment, which makes them essential for protecting the privacy and integrity of user data in a hyper connected world. However, concerns over privacy and ethical implications hamper the AI-enabled biometric systems market. Although the AI-enabled biometric systems market shows promise, worries about privacy and ethical concerns are holding it back. Nevertheless, the market has significant potential for growth due to the rising need for advanced authentication solutions and heightened security measures in diverse industries. With organizations placing a strong emphasis on technological advancement, the market is set to expand to meet the ever-evolving demand for reliable and effective identity verification solutions.
North America holds the largest market share in the AI-enabled biometric market due to its pioneering adoption of advanced technologies, vigorous research and development efforts, and a deep understanding of the significance of biometric security. The number of prominent companies and technological pioneers in North America biometric and AI industries facilitates the swift incorporation of these solutions. Moreover, rigorous regulatory frameworks and a proactive stance on cybersecurity in North America only fuel the demand for AI-enabled biometric systems. With a continuous stream of advancements in artificial intelligence and a robust tech infrastructure, North America remains at the forefront of this rapidly evolving market. Moreover, the Asia-Pacific region is poised for remarkable growth in the AI-enabled biometric systems market during the forecast period. Technological advancements are rapidly evolving and digitization is on the rise, leading to an increased demand for robust security solutions across various sectors including finance, healthcare, and government. China and India, in particular, are heavily investing in biometric technology, driven by government initiatives and a heightened awareness of security threats. Furthermore, the integration of AI has strengthened authentication measures, making biometric systems even more appealing. With a large population and a growing middle class, the Asia-Pacific region is experiencing a surge in the adoption of biometric systems for a wide range of applications, further driving the region's accelerated market growth.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 10.9 Billion |
| Market Size by 2030 | USD 30.90 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 14.8% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Technology, By Application, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global AI-enabled biometric market covers segments such as technology, application, and end user. On the basis of technology, the sub-markets include face recognition, fingerprint recognition, iris recognition, voice recognition, and others (fingerprint and palm recognition, ear acoustic recognition). On the basis of application, the sub-markets include mobile biometrics and smart devices, biometric access control systems, identity verification and authentication, surveillance and security, and others. On the basis of end user, the sub-markets include healthcare, banking and finance, BFSI, government, and others.
The report provides profiles of the companies in the market such as NEC Corporation, Thales, IDEMIA, Fujitsu Ltd, Leidos, Nuance Communications, Inc, Aware, Inc., FacePhi, Cognitec Systems GmbH, and BioID.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the AI-enabled biometric market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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