Next Generation Biometrics Market Expected to Hit USD 37.65 Billion by 2023 | Worldwide Top Key Players - 3M Cogent, Cross Match Technologies, Facebanx, Fingerprint Cards AB, Fujitsu, Fulcrum Biometrics, Safran SA, Siemens AG

Marketprognosis.com Publish a New Market Research Report On “Global Next Generation Biometrics Market 2019 - 2023” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Next Generation Biometrics Market:

The Global Next Generation Biometrics Market was valued at USD 9.61 Billion in 2017, and is expected to reach a value of USD 37.65 Billion by 2023, at a CAGR of 17.61%, during the forecast period (2018 - 2023).

The scope of the report is segmented by type of Solution which include face recognition, fingerprint recognition, iris recognition, palm print recognition, signature recognition, and by end-users is limited to government, defense, travel & immigration, home security, banking & finance, consumer electronics, and healthcare. While the region considered in the scope of the report include North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

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High Degree of Security and Improvement in Confidentiality of Personal Information is Driving the Market; These systems prevent thefts, as the information is stored in the digital form, which helps in preventing manipulate information. One of the key trends witnessed in the next generation biometrics market is a paradigm shift in business discourse towards more privacy and less security threats. The end-users are increasingly looking for integrated solutions, rather than depending on conventional methods. The next generation biometrics providers and the governments have realized the growing importance for the need of biometric systems across several verticals, where security remains the primary concern.

IRIS Recognition is One of the Fastest Growing Amongst the Type of Solution; Few benefits of this technology are that it is easy to use, difficult to forge and is accurate. Terrorist attacks; other cross-border illegal activities and cybercrimes have created the need for implementing the iris recognition technology. The iris recognition application in the consumer electronics sector is expected witness the highest growth rate during the forecast period mainly because of the commercialization of various iris scan-based electronic devices, like smartphones, tablets, smart watches, notebooks, and others.

North America Holds a Major Market Share, Followed by Europe; The market is expected to witness significant growth in emerging economies, such as the Asia-Pacific region, which is estimated to grow steadily over the forecast period. Apart from the consumer electronics and government sector, the healthcare sector is expected to experience a rise in application of next generation biometrics in these regions. Few countries, like China, India, Russia, and Mexico are driving the growth of biometric systems. China has initiated a biometric national ID program, which commenced in 2013.

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Major Key Players:

1 3M Cogent Inc.

2 Cross Match Technologies

3 Facebanx

4 Fingerprint Cards AB

5 Fujitsu Ltd.

6 Fulcrum Biometrics

7 RCG Holdings Limited

8 Safran SA

9 Siemens AG

10 Suprema Inc. and More…………..

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This study answers to the below key questions:

1 What are the key market trends?

2 What will the market size be in 2023 and what will the growth rate be?

3 What are the strengths and weaknesses of the key vendors?

4 Who are the key vendors in this market space?

5 What is driving this market?

6 What are the market opportunities and threats faced by the key vendors?

7 What are the challenges to market growth?

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Inferences

5 Market Overview

6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)

7 Market Segmentation

8 Competitive Landscape

9 Key Players

10 Future Outlook of the Market

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