Europe Biometric Technology Market Size & Outlook
Europe biometric technology market, 2018-2030 (US$M)
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Europe biometric technology market highlights
- The Europe biometric technology market generated a revenue of USD 11,089.2 million in 2023.
- The market is expected to grow at a CAGR of 19.3% 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.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 11,089.2 million |
| Market revenue in 2030 | USD 38,247.1 million |
| Growth rate | 19.3% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Service |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Europe region accounted for 27.0% of the global biometric technology market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 39,451.6 million by 2030.
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Biometric Technology Market Scope
Biometric Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe 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 42.18% in 2023. Horizon Databook has segmented the Europe biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing document fraud and theft, threats such as terrorism and cybercrime, and changes in international regulations are driving demand for a biometric solution in Europe. Driving monitoring systems use Biometric to detect drowsiness and distraction and to assess the driver's alertness.
Regarding societal impact, Biometric-based driving monitoring and alerting reduce public costs and car accident risks, which is anticipated to drive market growth in Europe. Various initiatives by the government and similar institutions have funded the players, universities, or research groups' efforts to augment their technological fields, which is expected to boost the market.
The EU General Data Protection and Regulation (GDPR) is a European government initiative focusing on data privacy, allowing fingerprint module manufacturers to enter the market by providing better and safer solutions.
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Our clientele includes a mix of biometric technology market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe biometric technology market , including forecasts for subscribers. This continent databook contains high-level insights into Europe biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe biometric technology market size, by country, 2018-2030 (US$M)
Europe Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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