China Biometric Technology Market Size & Outlook
China biometric technology market, 2018-2030 (US$M)
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China biometric technology market highlights
- The China biometric technology market generated a revenue of USD 2,804.5 million in 2023 and is expected to reach USD 11,734.2 million by 2030.
- The China market is expected to grow at a CAGR of 22.7% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Service is the most lucrative component segment registering the fastest growth during the forecast period.
Biometric technology market data book summary
| Market revenue in 2023 | USD 2,804.5 million |
| Market revenue in 2030 | USD 11,734.2 million |
| Growth rate | 22.7% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Service |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Service |
| Key market players worldwide | Bio-K+ International, Fujitsu Ltd, Assa Abloy AB ADR, IDEMIA, LG Electronics Inc ADR, NEC Corp, Accu-Time Systems, AFIX Biometric Identification, DERMALOG, Gemalto |
Other key industry trends
- In terms of revenue, China accounted for 6.8% of the global biometric technology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biometric technology market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 10,399.2 million by 2030.
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Biometric Technology Market Scope
Biometric Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China biometric technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biometric technology market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 42.12% in 2023. Horizon Databook has segmented the China biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
China’s Biometric market is anticipated to be driven primarily by rising mobile payment transactions as well as rising commercial enterprises and government initiatives to adopt biometric authentication systems.
A more authoritarian approach for digitization may result from China's emphasis on influencing global e-commerce, digital infrastructure, and new initiatives such as the proposed new IP and the digital yuan.
For instance, in 2021, over 20.87 million personal wallets and 3.51 million corporate wallets were opened in China, resulting in a total of 70.75 million transactions with a value of USD 5.41 billion (RMB 34.5 billion).
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Target buyers of China biometric technology market databook
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Our clientele includes a mix of biometric technology market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China biometric technology market , including forecasts for subscribers. This country databook contains high-level insights into China biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China biometric technology market size, by component, 2018-2030 (US$M)
China Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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