The gait biometrics market size is expected to grow by USD 30.95 million during 2020-2024, expanding at a CAGR of over 8%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Gait Biometrics Market 2020-2024 (Graphic: Business Wire)
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Gait Biometrics Market: Growing Potential of Gait Biometrics for Elderly Care
The healthcare sector is a major adopter of gait biometric systems for elderly care, which are mainly implemented to improve patient analysis and track their physical health conditions. Gait systems are used to support patients with orthopedic troubles as well. They can track and analyze a patient's movement and body posture. Moreover, the percentage of the aged population across the world is increasing at a significant pace. This is compelling the healthcare sector to develop new healthcare delivery systems with a focus on the growing requirements of the elderly and geriatric patients. Thus, healthcare providers are using gait biometrics widely in every step, starting from intelligent tracking of biometric information to early diagnosis of diseases. Gait biometrics makes use of physiological or behavioral characteristics of people to authenticate their identities. Thus, the growing elderly population will drive the growth of the market during the forecast period.
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As per Technavio, the growing popularity of contactless biometrics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gait Biometrics Market: Growing Popularity Of Contactless Biometrics
The growing popularity of contactless biometrics is expected to be a key gait biometrics market trends. Biometric technologies such as fingerprint scanner require users to place their finger on the sensor, which can be unhygienic. Also, the remnants of the fingerprint remain on the scanner, which can be copied. In many countries, growing concerns over hygiene due to the outbreak of various diseases, such as COVID-19, Ebola, and Swine flu, have made health regulators and officials re-evaluate the spread of these diseases, which includes infection by touching (contaminated) surfaces. Hence, several companies are focusing on contactless biometrics, which includes the retina and iris displays, gait biometrics, and vascular biometric scanners. Contactless biometrics, such as gait biometrics, is faster and efficient compared with contact biometrics such as fingerprint sensors. The use of contactless biometrics in places where hygiene levels need to be maintained, such as hospitals and airports, are the major application segments for contactless biometrics.
"Increased R&D spending by vendors, and the rising adoption of cloud computing will further boost the gait biometrics market growth during the forecast period," says a senior analyst at Technavio.
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Gait Biometrics Market: Segmentation Analysis
This market research report segments the gait biometrics market by end-user (healthcare, sports, and others) and geography (North America, Europe, APAC, South America, and MEA).
The healthcare sector led the market in 2019 and is expected to witness significant growth during the forecast period, as developed and developing countries are extensively adopting gait biometric systems. In healthcare sector, gait biometrics can reduce medical costs and improve treatment while allow patients to self-service their care needs, thereby significantly reducing human labor.
The North American region led the gait biometrics market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the rising adoption of gait biometrics to develop new therapies, diagnostics, and therapeutic treatments in the healthcare sector.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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