At 14.4% CAGR, Europe Biometric Technologies Market is Projected to be Worth US$ 26,147.52 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe biometric technologies market was valued at US$ 8,917.46 million in 2022 and is expected to reach US$ 26,147.52 million by 2030, registering a CAGR of 14.4% from 2022 to 2030. Expanding application range in government sector, expanding application range in government sector, and increasing crime rates are among the critical factors attributed to drive the Europe biometric technologies market growth.

Governments are using biometric technologies for various verifications, such as national ID systems, border control infrastructure, or welfare program verification, this is creating substantial demand for technology providers. The adoption of biometric technologies in government operations often sets standards for data formats and systems, leading to wider adoption in the industrial sector and economies of scale for manufacturers. Biometric technologies are being deployed in several government projects. In 2023, as part of the security legislation for the 2024 Olympic Games, the French Parliament approved the widespread deployment of artificial intelligence-powered real-time video monitoring. It became the first EU country to legalize biometric surveillance. Additionally, German authorities will only accept biometric photos for official documents, such as passports, IDs, and immigration documents, as of May 2025. In October 2023, the introduction schedule for biometric pictures was initially revealed in Germany. The action follows a successful 2023 trial to improve document security. Moreover, Spain declared that fingerprint-activated credit and debit cards will replace mag stripe cards in the nation. Spain has declared that its issuing banks will stop using magnetic stripes on their credit cards and will switch to fingerprint biometric cards in their place due to the possibility of the stripes being read and reproduced. The transition is anticipated to start in 2024.

On the contrary, high capital requirements hampers the growth of Europe biometric technologies market.

Based on component, the Europe biometric technologies market is Segmented into hardware, software, and services. The hardware segment held 57.3% share of Europe biometric technologies market share in 2022, amassing US$ 5.11 billion. It is projected to garner US$ 15.85 billion by 2030 to register 15.2% CAGR during 2022-2030.

In terms of type, the Europe biometric technologies market is segmented into contact, contactless, and hybrid. The contact segment held 50.8% share of Europe biometric technologies market in 2022, amassing US$ 4.53 billion. It is anticipated to garner US$ 12.58 billion by 2030 to expand at 13.6% CAGR during 2022-2030.

By authentication type, the Europe biometric technologies market is bifurcated into single factor authentication and multi factor authentication. The single factor authentication segment held 71.9% share of Europe biometric technologies market in 2022, amassing US$ 6.41 billion. It is projected to garner US$ 17.97 billion by 2030 to expand at 13.7% CAGR from 2022 to 2030.

Based on end user, the Europe biometric technologies market is categorized into government, BFSI, healthcare, defense & security, and others. The government segment held 33.0% share of Europe biometric technologies market in 2022, amassing US$ 2.94 billion. It is predicted to garner US$ 9.63 billion by 2030 to expand at 16.0% CAGR between 2022 and 2030.

Based on country, the Europe biometric technologies market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 25.4% share of Europe biometric technologies market in 2022. It was assessed at US$ 2.26 billion in 2022 and is likely to hit US$ 6.08 billion by 2030, registering a CAGR of 13.1% during 2022-2030.

Key players operating in the Europe biometric technologies market are Aware, Inc.; Thales SA; Cognitec Systems GmbH; NEC Corp; IDEMIA France SAS; HID Global Corp; Fujitsu Ltd; Leidos Holdings, Inc.; M2SYS Technology; and Precise Biometrics AB; among others.

• In March-2024, Cognitec Systems has joined the SALTO Group, a global leader in access control and ticketing solutions. The acquisition aims to strengthen research, development, and market reach for Cognitec's existing product portfolio while working on new technologies for expanding biometric markets.
  
  
• In January-2023, Cognitec has introduced a new version of its FaceVACS-Entry technology, which now allows for comparison of biometric photos against facial images from ID documents or databases. The device also includes presentation attack detection to ensure a live person interacts with it. The product includes Cognitec's ISO compliance software and a robust matching algorithm for fast verification and identification.
  
  

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