UK Biometric Technology Market Size & Outlook, 2023-2030
UK biometric technology market, 2018-2030 (US$M)
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UK biometric technology market highlights
- The UK biometric technology market generated a revenue of USD 2,474.8 million in 2023 and is expected to reach USD 8,644.8 million by 2030.
- The UK market is expected to grow at a CAGR of 19.6% 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 2,474.8 million |
| Market revenue in 2030 | USD 8,644.8 million |
| Growth rate | 19.6% (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, UK accounted for 6.0% 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 Europe, Germany biometric technology market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 10,575.4 million by 2030.
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Biometric Technology Market Scope
Biometric Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UK 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 42.32% in 2023. Horizon Databook has segmented the UK biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
The growing adoption of biometric technologies among various sectors, such as government, banking, and healthcare, drives the market growth in the U.K. For instance, Vodaphone in the U.K. deployed the M2SYS, a hybrid biometric platform that is a biometric technology with palm vein recognition and fingerprint for its mobile phone VIP recharging trucks.
Biometric scanners are now a common sight in U.K. airports. These systems allow users to load funds to an account, with account ownership being verified by fingerprint at the point of sale. Mobile wallet payments are also commonly made use of biometric identification technology.
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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 country-level data and insights on the UK biometric technology market , including forecasts for subscribers. This country databook contains high-level insights into UK biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK biometric technology market size, by component, 2018-2030 (US$M)
UK Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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