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South Korea Biometric System Market Overview, 2028


South Korea is known for its advanced smartphone technology. Biometric authentication methods, such as fingerprint recognition and facial recognition, were already widely used for unlocking phones ... もっと見る

 

 

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Bonafide Research & Marketing Pvt. Ltd.
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2023年8月31日 US$1,950
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Summary

South Korea is known for its advanced smartphone technology. Biometric authentication methods, such as fingerprint recognition and facial recognition, were already widely used for unlocking phones and authorizing mobile payments. Biometric systems were commonly used for access control in buildings, offices, and even residential complexes. Fingerprint or iris scans were often employed to grant entry. At major airports like Incheon International Airport, biometric systems were used for passport control and immigration clearance, making the process faster and more secure. Many South Koreans use mobile banking apps, which often employ biometric authentication for logging in and authorizing transactions. This adds an extra layer of security to financial services. Some credit card companies in South Korea offered cards with embedded fingerprint sensors, allowing users to make secure transactions by fingerprint authentication. South Korea has a Resident Registration Number (RRN) system, which is a unique identifier for citizens. Biometric data, such as fingerprints and facial recognition, has been integrated into national ID cards for added security. South Korea has experimented with biometric systems to enhance the security of elections. Biometric voter registration and authentication systems were explored to prevent voter fraud. South Korea is known for its extensive use of closed-circuit television (CCTV) cameras. Facial recognition technology was sometimes used in these systems to identify and track individuals for security purposes. South Korea has strict regulations regarding the registration of mobile SIM cards to combat illegal activities. Biometric authentication was often required when purchasing a SIM card to verify the identity of the buyer. Biometric systems were used in the tourism and hospitality industry for guest check-in at hotels and resorts. It not only provided a seamless check-in experience but also enhanced security for guests.

According to the research report "South Korea Biometric System Market Overview, 2028," published by Bonafide Research, the South Korea Biometric System market is anticipated to grow at more than 20.10% CAGR from 2023 to 2028. South Korean tech giants like Samsung and LG played a significant role in advancing biometric technology. They not only incorporated biometric features into their products but also collaborated with global tech companies to develop and implement biometric solutions. South Korea is a leader in the development of smart homes. Biometric systems were integrated into home automation, allowing residents to use biometric authentication to control various aspects of their homes, such as lighting, security, and even home entertainment systems. South Korea has a thriving market for mobile healthcare apps. Many of these apps use biometric data, such as heart rate and blood pressure measurements, to provide users with health insights and recommendations. Biometric authentication ensures that the data is secure and accessible only to the individual. South Korea established itself as a hub for biometric research and development. Universities and research institutions actively worked on advancing biometric technologies, contributing to innovation in the field. South Korea's commitment to smart city development often involved biometric systems. These systems were used for smart parking, waste management, and even monitoring air quality to create more efficient and sustainable urban environments. Many South Korean companies implemented biometric systems for HR purposes, including tracking work attendance. This minimized errors and improved efficiency in workforce management. South Korean electronics manufacturers continually improved biometric features in their products. This included innovations such as under-display fingerprint sensors and 3D facial recognition for smartphones. The tourism and hospitality industry in South Korea utilized biometric systems extensively for guest management. Biometric data was employed for quick and secure check-ins at hotels, resorts, and other accommodation facilities.

In South Korea, electronic signatures are legally recognized and widely used for various transactions, including financial agreements, contracts, and government documents. The government has established a robust legal framework to support electronic signatures, making signature recognition a trusted and legally accepted biometric technology. South Korea has been actively promoting digital transformation initiatives in both the public and private sectors. This includes the adoption of digital signatures as a secure and convenient way to conduct business and government transactions. Signature recognition aligns with these initiatives, enabling organizations to digitize and streamline their processes. Many organizations in South Korea prioritize document security. Signature recognition systems can ensure that only authorized individuals can sign and access sensitive digital documents, reducing the risk of unauthorized modifications or access. In addition based on functionality the market is divided into contact-based, contact less and hybrid. By combining multiple biometric factors, hybrid systems offer a higher level of security compared to single-modal biometric systems. This multi-factor approach significantly reduces the risk of unauthorized access or identity fraud. In South Korea, where data security is paramount, organizations prioritize solutions that provide robust protection. Hybrid systems often achieve lower false acceptance and rejection rates compared to single-modal systems. This is because they can cross-verify multiple biometric traits, making it more challenging for impostors to bypass authentication.

The market is divided into Government, Banking and Finance, Defense Services, Consumer Electronic, Healthcare, Commercial Safety and Security, Transport/Visa/Logistics, Automotive and Others. South Korea Biometric System Market based on End-User why automotive segment is growing the market. Biometric authentication methods, such as fingerprint recognition and facial recognition, are used for keyless entry and ignition systems. Vehicle owners can unlock and start their cars without traditional keys, improving convenience and security. Biometric systems in automobiles can recognize individual drivers and adjust vehicle settings accordingly. This includes adjusting seat positions, climate control, infotainment preferences, and more based on the driver's biometric profile. In commercial and fleet vehicles, biometric systems are used for driver identification and tracking. Fleet managers can monitor driver behavior, attendance, and compliance with safety regulations. As vehicle theft is a concern in South Korea, especially in densely populated urban areas, biometric systems help reduce the risk of car theft, contributing to overall security. Furthermore based on mobility, Portable biometric systems provide a means of mobile identity verification. They can be carried by individuals and used for on-the-go authentication, allowing users to prove their identity remotely. Portable biometric devices are compact and lightweight, making them highly mobile. Users can carry them easily in their pockets or bags, enabling secure authentication wherever they go, whether it's in a workplace, field environment, or during travel. Various industries in South Korea, such as law enforcement, healthcare, and logistics, require field-based authentication and identity verification. Portable biometric systems cater to these needs by allowing professionals to verify identities in the field, conduct mobile enrollment, and access critical data securely. The Multi-Factor Authentication (MFA) segment is expected to achieve the highest CAGR in the South Korean biometric system market. The South Korean government actively promotes digital transformation and e-government services. MFA plays a pivotal role in securing access to government portals, citizen databases, and critical government applications, ensuring the privacy and security of sensitive data.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea Biometric System market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Technology
• Fingerprint Recognition
• Face Recognition
• Hand Geometry
• Voice Recognition
• Iris recognition/ Retina Recognition
• Signature recognition
• Vein Recognition
• Others (Keystroke Dynamics, Gait Recognition, Earlobe Geometry & DNA Biometrics)

By Component
• Hardware
• Software
• Services
By Functionality
• Contact-Based
• Contact-less
• Hybrid

By Authentication Type
• Single-Factor Authentication
• Multi-Factor Authentication

By Mobility
• Fixed
• Portable

By End-User
• Government
• Banking and Finance
• Defence Services
• Consumer Electronics
• Healthcare
• Commercial Safety and Security
• Transport/Visa/Logistics
• Automotive
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Biometric System industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.


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Table of Contents

Table of Contents
1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. South Korea Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. South Korea Biometric System Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast By Technology
6.3. Market Size and Forecast By Component
6.4. Market Size and Forecast By End-Users
6.5. Market Size and Forecast By Functionality
6.6. Market Size and Forecast By Authentication Type
6.7. Market Size and Forecast By Mobility Type
7. South Korea Biometric System Market Segmentations
7.1. South Korea Biometric System Market, By Technology
7.1.1. South Korea Biometric System Market Size, By Fingerprint Recognition, 2017-2028
7.1.2. South Korea Biometric System Market Size, By Face Recognition, 2017-2028
7.1.3. South Korea Biometric System Market Size, By Hand Geometry, 2017-2028
7.1.4. South Korea Biometric System Market Size, By Voice Recognition, 2017-2028
7.1.5. South Korea Biometric System Market Size, By Iris recognition/ Retina Recognition, 2017-2028
7.1.6. South Korea Biometric System Market Size, By Signature recognition, 2017-2028
7.1.7. South Korea Biometric System Market Size, By Vein Recognition, 2017-2028
7.1.8. South Korea Biometric System Market Size, By Others, 2017-2028
7.2. South Korea Biometric System Market, By Component
7.2.1. South Korea Biometric System Market Size, By Hardware, 2017-2028
7.2.2. South Korea Biometric System Market Size, By Software, 2017-2028
7.2.3. South Korea Biometric System Market Size, By Services, 2017-2028
7.3. South Korea Biometric System Market, By End-Users
7.3.1. South Korea Biometric System Market Size, By Government, 2017-2028
7.3.2. South Korea Biometric System Market Size, By Banking, Financial Services and Insurance (BFSI) , 2017-2028
7.3.3. South Korea Biometric System Market Size, By Military & Defense, 2017-2028
7.3.4. South Korea Biometric System Market Size, By Consumer Electronics, 2017-2028
7.3.5. South Korea Biometric System Market Size, By Healthcare, 2017-2028
7.3.6. South Korea Biometric System Market Size, By Commercial Safety and Security, 2017-2028
7.3.7. South Korea Biometric System Market Size, By Transport/Visa/Logistics, 2017-2028
7.3.8. South Korea Biometric System Market Size, By Automotive, 2017-2028
7.3.9. South Korea Biometric System Market Size, By Others, 2017-2028
7.4. South Korea Biometric System Market, By Functionality
7.4.1. South Korea Biometric System Market Size, By Contact-Based, 2017-2028
7.4.2. South Korea Biometric System Market Size, By Contact-less, 2017-2028
7.4.3. South Korea Biometric System Market Size, By Hybrid, 2017-2028
7.5. South Korea Biometric System Market, By Authentication Type
7.5.1. South Korea Biometric System Market Size, By Single-Factor Authentication, 2017-2028
7.5.2. South Korea Biometric System Market Size, By Multi-Factor Authentication, 2017-2028
7.6. South Korea Biometric System Market, By Mobility Type
7.6.1. South Korea Biometric System Market Size, By Fixed, 2017-2028
7.6.2. South Korea Biometric System Market Size, By Portable, 2017-2028
8. South Korea Biometric System Market Opportunity Assessment
8.1. By Technology, 2023 to 2028
8.2. By Component, 2023 to 2028
8.3. By End-Users, 2023 to 2028
8.4. By Functionality, 2023 to 2028
8.5. By Authentication Type, 2023 to 2028
8.6. By Mobility Type, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures
Figure 1: South Korea Biometric System Market Size By Value (2017, 2022 & 2028F) (in USD Million)
Figure 2: Market Attractiveness Index, By Technology
Figure 3: Market Attractiveness Index, By Component
Figure 4: Market Attractiveness Index, By End-Users
Figure 5: Market Attractiveness Index, By Functionality
Figure 6: Market Attractiveness Index, By Authentication Type
Figure 7: Market Attractiveness Index, By Mobility Type
Figure 8: Porter's Five Forces of South Korea Biometric System Market

List of Table

Table 1 : Influencing Factors for Global Biometric System Market, 2022
Table 2: South Korea Biometric System Market Size and Forecast By Technology (2017, 2022 & 2028F)
Table 3: South Korea Biometric System Market Size and Forecast By Component (2017, 2022 & 2028F)
Table 4: South Korea Biometric System Market Size and Forecast By End-Users (2017, 2022 & 2028F)
Table 5: South Korea Biometric System Market Size and Forecast By Functionality (2017, 2022 & 2028F)
Table 6: South Korea Biometric System Market Size and Forecast By Authentication Type (2017, 2022 & 2028F)
Table 7: South Korea Biometric System Market Size and Forecast By Mobility Type (2017, 2022 & 2028F)
Table 8: South Korea Biometric System Market Size of Fingerprint Recognition (2017 to 2028) in USD Million
Table 9: South Korea Biometric System Market Size of Face Recognition (2017 to 2028) in USD Million
Table 10: South Korea Biometric System Market Size of Hand Geometry (2017 to 2028) in USD Million
Table 11: South Korea Biometric System Market Size of Voice Recognition (2017 to 2028) in USD Million
Table 12: South Korea Biometric System Market Size of Iris recognition/ Retina Recognition (2017 to 2028) in USD Million
Table 13: South Korea Biometric System Market Size of Signature recognition (2017 to 2028) in USD Million
Table 14: South Korea Biometric System Market Size of Vein Recognition (2017 to 2028) in USD Million
Table 15: South Korea Biometric System Market Size of Others (2017 to 2028) in USD Million
Table 16: South Korea Biometric System Market Size of Hardware (2017 to 2028) in USD Million
Table 17: South Korea Biometric System Market Size of Software (2017 to 2028) in USD Million
Table 18: South Korea Biometric System Market Size of Services (2017 to 2028) in USD Million
Table 19: South Korea Biometric System Market Size of Government (2017 to 2028) in USD Million
Table 20: South Korea Biometric System Market Size of Banking, Financial Services and Insurance (BFSI) (2017 to 2028) in USD Million
Table 21: South Korea Biometric System Market Size of Military & Defense (2017 to 2028) in USD Million
Table 22: South Korea Biometric System Market Size of Consumer Electronics (2017 to 2028) in USD Million
Table 23: South Korea Biometric System Market Size of Healthcare (2017 to 2028) in USD Million
Table 24: South Korea Biometric System Market Size of Commercial Safety and Security (2017 to 2028) in USD Million
Table 25: South Korea Biometric System Market Size of Transport/Visa/Logistics (2017 to 2028) in USD Million
Table 26: South Korea Biometric System Market Size of Automotive (2017 to 2028) in USD Million
Table 27: South Korea Biometric System Market Size of Others (2017 to 2028) in USD Million
Table 28: South Korea Biometric System Market Size of Contact-Based (2017 to 2028) in USD Million
Table 29: South Korea Biometric System Market Size of Contact-less (2017 to 2028) in USD Million
Table 30: South Korea Biometric System Market Size of Hybrid (2017 to 2028) in USD Million
Table 31: South Korea Biometric System Market Size of Single-Factor Authentication (2017 to 2028) in USD Million
Table 32: South Korea Biometric System Market Size of Multi-Factor Authentication (2017 to 2028) in USD Million
Table 33: South Korea Biometric System Market Size of Fixed (2017 to 2028) in USD Million
Table 34: South Korea Biometric System Market Size of Portable (2017 to 2028) in USD Million

 

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