Biometric Technology Market Outlook:
Biometric Technology Market size was valued at USD 59.65 billion in 2025 and is set to exceed USD 322.94 billion by 2035, registering over 18.4% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of biometric technology is estimated at USD 69.53 billion.
With the rapid increase in digitization globally, the need for robust security features have increased. The rising awareness of data privacy and security concerns are the primary drivers of the biometric technology market. In recent years, more governments and companies have actively invested in biometric technology for security and population identification concerns, leading to market growth. In August 2024, FINGERPRINTS released their new biometric technology system, FPC AllKey, which is designed to bring smooth and secure authentication to multiple end uses such as peripherals, padlocks, cryptocurrency wallets, FIDO tokens, residential and workplace locks.
Manufacturers across the globe are focused on improving biometric technology to cater to rising demands for greater data privacy and combat security threats. Manufacturers are trying to integrate behavioral biometric technology and liveness detection techniques for enhanced security. For instance, in April 2023, Innovatrics released MagnifEye, capable of multimodal liveness detection within seconds without hampering user experience.
