Press release
Next Generation Biometrics Market 2018: Opportunity, Growth, Share, Demand, Innovation, Top Companies (Assa Abloy, Aware, Bio-Key International, Cognitec Systems, Cross Match Technologies, Daon, Facebanx, Fujitsu, NEC, Precise Biometrics, Safran etc.)
Next Generation Biometrics Market
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Global Next Generation Biometrics Market is accounted for $13.89 billion in 2017 and is expected to reach $63.26 billion by 2026 growing at a CAGR of 18.3% during the forecast period.
Increasing number of government initiatives to adopt biometrics, growing need for surveillance and security owing to the threats of terrorist attack, proliferation of biometric technology in applications such as financial institutes, retail & automotive and increased convenience, secure identity management & superior human resource management are the key driving factors for the market growth. However, high deployment costs are hindering the market growth.
The identity of a person based on certain physical or behavioral characteristics is recognized and authenticated by the biometric process. A person can be exceptionally identified by evaluating one or more distinguishing biological traits through biometric verification. The uniqueness of a person can be identified from different types of biometric technologies such as fingerprints, signature, palm recognition, face detection and record of their voice. This data is then compared to the biometric data of several other persons kept in a database to authenticate a person's identity.
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Types Covered:
Noncontact Functionality
Combined Functionality
Contact Functionality
Components Covered:
Software
Hardware
Services
Authentication Types Covered:
Single-Factor Authentication
Multifactor Authentication
Applications Covered:
Government
Miltary & Defence
Law Enforcement
Enterprises
Banking & Finance
Healthcare
Residential Homes
Airports
Consumer Electronics
Travel & Immigration
Automotive
Security
Other Applications
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Some of the key players profiled in the Next Generation Biometrics Market include Assa Abloy, Aware, Bio-Key International, Cognitec Systems, Cross Match Technologies, Daon, Facebanx, Fujitsu, NEC, Precise Biometrics, Safran, Secunet Security Networks, Securiport and Stanley Black & Decker and Thales.
With the help of this biometric technology, the government agencies are able to solve crimes, prevent fraud in voting or public benefits applications, secure national borders, or protect identities for a variety of other applications, such as access control, banking and employee background checks.
Based on Application, Banking & Finance segment held considerable market share during the forecast period. These Authuntication systems can also lift satisfaction of their customers, as it can eliminate passwords and increase the demand to adopt for biometrics in banking sector, which makes this market grow bullishly.
For instance, Major Banks are also rolling out biometric authentication. JP Morgan, Chase, Bank of America and Wells Fargo allow their customers to log in to mobile banking via fingerprint authentication. By geography, Asia Pacific is expected to grow at a faster rate due to technological advancements and effective pricing of biometric devices across the region.
List of Tables
Table 1 Global Next Generation Biometrics Market Outlook, By Region (2016-2026) (US $MN)
Table 2 Global Next Generation Biometrics Market Outlook, By Type (2016-2026) (US $MN)
Table 3 Global Next Generation Biometrics Market Outlook, By Noncontact Functionality (2016-2026) (US $MN)
Table 4 Global Next Generation Biometrics Market Outlook, By Combined Functionality (2016-2026) (US $MN)
Table 5 Global Next Generation Biometrics Market Outlook, By Contact Functionality (2016-2026) (US $MN)
Table 6 Global Next Generation Biometrics Market Outlook, By Component (2016-2026) (US $MN)
Table 7 Global Next Generation Biometrics Market Outlook, By Software (2016-2026) (US $MN)
Table 8 Global Next Generation Biometrics Market Outlook, By Hardware (2016-2026) (US $MN)
Table 9 Global Next Generation Biometrics Market Outlook, By Scanners (2016-2026) (US $MN)
Table 10 Global Next Generation Biometrics Market Outlook, By Fingerprint Readers (2016-2026) (US $MN)
Table 11 Global Next Generation Biometrics Market Outlook, By Camera (2016-2026) (US $MN)
Table 12 Global Next Generation Biometrics Market Outlook, By Other Hardwares (2016-2026) (US $MN)
Table 13 Global Next Generation Biometrics Market Outlook, By Services (2016-2026) (US $MN)
Table 14 Global Next Generation Biometrics Market Outlook, By Support & Maintenance Services (2016-2026) (US $MN)
Table 15 Global Next Generation Biometrics Market Outlook, By Installation Services (2016-2026) (US $MN)
Table 16 Global Next Generation Biometrics Market Outlook, By Aunthetication Type (2016-2026) (US $MN)
Table 17 Global Next Generation Biometrics Market Outlook, By Single-Factor Authentication (2016-2026) (US $MN)
Table 18 Global Next Generation Biometrics Market Outlook, By Fingerprint Recognition (2016-2026) (US $MN)
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