The global biometric system market is anticipated to grow at a significant CAGR from 2019 during the forecasted timeframe. The outbreak of the ongoing pandemic has impacted the global businesses and also have a possibility of long-term impact & some of the short-term consequences. Biometrics have been highly utilized technology for early detection & screening, patient screening, and safety of the populace for the containment of the spread of the pandemic.
High adoption & demand of the biometric system for various applications and purposes have driven the market growth of the biometric system market. High rise in the application of biometrics in consumer electronics for access control of various applications as well as a high adoption rate amongst government initiatives have supported the market growth. The prevalence of the high penetration rate of biometric technology within automotive and enterprise applications is driving the market growth currently as well as in the future. Amid the ongoing COVID-19 pandemic, Contact Biometrics can increase the possibility of transmission of the harmful microbial pathogens and viruses as well as inoculation of pathogens into the respiratory tract. This can lead to the likely spread of infectious diseases such as COVID-19.
Earlier key markets such as surveillance & security, healthcare, biotechnologies, and life sciences have shifted their focus towards more prevailing trends and opportunities such as a biometric system for infectious disease control and prevention protocols and also to detect the individuals with no mask. For example, the up-gradation of face recognition & surveillance operations with screening technologies and Artificial Intelligence algorithms for facial recognition and screening purposes, as the prevalence of wearing masks during the pandemic can pose a genuine security threat in a wake of recent terrorist attacks across the globe.
According to opinion makers within the Biometrics Industry, contactless biometric systems (such as Facial Recognition, Iris Recognition, and voice recognition) are gaining momentum as compared to contact biometrics, as contact-based biometrics can spread the infection of COVID-19. For a number of law enforcement agencies and national government have removed contact-based biometrics and replaced with contactless biometrics in a wake of the outbreak of COVID-19 pandemic. High demand for the utilization of artificial intelligence and machine learning has led to developing state-of-art contactless biometrics, along with alternative technologies for detection of healthcare-related issues such as fever as well as the detection of patterns related to psychological states and behavioural patterns.
Irrespective of the prevalence of contactless biometric systems, fingerprint recognition has the largest share within the Global Biometrics Market due to user-friendly installation process and cost-effectiveness and also because of high demand for utilization for e-visas, driving licenses, and e-passports. Also, fingerprint recognition has high utilization in healthcare, banking & finance. Software offerings have occupied the largest amongst market share in its segment due to its assurance of compatibility and interoperability of the biometric devices.