Biometrics authenticates and identifies individual on basis of their physical and behavioral characteristics. Biometric system use sensors which convert biometric traits like face, iris, fingerprints to an electrical signal.
AI and biometric can be combined together to develop authentication system that can protect device against cyber-attacks and prevents fraudulent activities. AI-enabled Biometrics develop data-driven security protocols.
The AI-enabled biometrics can precisely verify the individual identity based on their behavioral and physiological traits.
AI-enabled Biometrics Market: - Impact Analysis of COVID-19 Pandemic
Global concern over the spreading of COVID-19 on surfaces in public places is unleashing rapid development of innovative biometric products that helps to assist touchless society. To maintain social distancing and to stop the spread of the virus companies have disabled fingerprint recognition system substituting with facial recognition or card based verification.
The demand has increased for facial recognition system for detecting infected individuals. Companies around the world are introducing innovative biometric authentication system that can identify the individuals even when they are wearing the face mask.
The biometric market is estimated to witness growth around 10% to 12% Y-o-Y in 2019-2020. Moreover, the market will witness growth in 2021 as well, due to longevity of COVID-19 pandemic.
AI-enabled Biometrics Market: - Market Dynamics
Increasing Adoption of AI-enabled Biometrics for Preventing Security Threat is Driving the Market Growth
To enhance the behavioral biometrics AI technologies are being adopted for identifying unusual behavior intelligently and automatically and providing extra layer of authentication. Adoption of AI-enabled biometrics is increasing as this improve every aspect of the identity lifecycle.
AI enabled biometrics monitor behavioral anomalies and prevent security threats by recognizing activities by hackers and bots. AI enabled biometrics has the ability to flexibly respond to emerging fraudulent activities and it also reduces the cost of identity verification and authentication.
However, AI-enabled biometrics helps in preventing the cyber threats, due to this the adoption of AI-enabled biometrics is increasing.
AI-enabled Biometrics Market: - Regional Analysis
South Asia Pacific is expected to offer lucrative opportunities for players in the region, owing to technological advancements, increasing awareness regarding use of AI-enabled biometrics system for security purposes.
North America AI-enabled biometrics market dominated in 2019, owing to the presence of key players in the region and increasing adoption of AI-enabled biometrics in various sectors for ensuring security.
AI-enabled Biometrics Market: - Key Players
The key players in the AI-enabled Biometrics market are
- Thales Group
- M2SYS Technology, Inc.
- Assa Abloy AB
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global AI-enabled Biometrics market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with AI-enabled Biometrics market attractiveness as per segments. The report on AI-enabled Biometrics market also maps the qualitative impact of various factors on AI-enabled Biometrics market segments and geographies.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, & South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia Pacific)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
AI-enabled Biometrics Market- Report Highlights:
- A detailed overview of parent market of AI-enabled Biometrics market
- Changing AI-enabled Biometrics market dynamics in the industry
- In-depth segmentation of the AI-enabled Biometrics market
- Historical, current, and projected AI-enabled Biometrics market size by value
- Recent industry trends and developments in AI-enabled Biometrics market
- Competitive landscape of the AI-enabled Biometrics market
- Strategies for key players in AI-enabled Biometrics and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on AI-enabled Biometrics market performance
- Must-have information for AI-enabled Biometrics market players to sustain and enhance their market footprint
AI-enabled Biometrics Market: - Segmentation
By Authentication :
- Fingerprint Recognition
- Iris Recognition
- Face Recognition
- Multi-factor Authentication
By Industry :
- Military & Defense
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.