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COVID-19 Impact on Next Generation Biometric Market - Future Business Strategies, Growth Projections and Forecast

04-07-2020 01:31 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Identification documents and PIN are traditional methods used to verify the identity of a human being. However, an increasing number of cases of security threats, illegal transactions at ATMs, unauthorised immigration and unauthorised infiltration across borders are factors which have resulted in the evolution of new generation biometrics methods.

New generation biometrics refers to technologies that are used to verify the identity of individuals through biological characteristics such as facial expression, voice, palm, fingerprints, signature, iris, vein and DNA. Fingerprints, iris and facial recognition are the most commonly used techniques for identification. Vein and DNA recognition are the latest biometric techniques. Biometric traits are permanent and unique. Accuracy, high degree of privacy, ease of use, uniformity across the system and interoperability are some of the advantages of biometric techniques.

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Biometric technology enables storage of information in a digital form which is nearly impossible to reconstruct. The exceptional features of biometric techniques ensure a wide spectrum of applications, ranging from government, border security, healthcare and commercial security, to banking and finance, travel and immigration and defence. Government funding for the deployment of biometric technology is also a major driver for this market. Major players operating in the market are 3M, Fujistu Ltd., Safran SA, Thales SA, Siemens AG and Fulcrum Biometrics.

To enable an in-depth analysis, the global new generation biometrics market is segmented based on technology, applications and geography. The global biometric application market is categorised into various applications namely border security, healthcare, commercial security, banking and finance, travel and immigration and defence. Different technologies used for human identification are palm, fingerprints, signature, iris, vein and DNA. Analysis is carried out across different regions, namely, North America, Europe, APAC and LAMEA.

Fingerprint recognition is the most widely used technology followed by face and iris recognition. Travel and immigration is the application that generates the highest revenue. It is succeeded by government and defence. North America is the global leader in new generation biometrics, followed by Europe and APAC.

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Key Benefits:
o The report showcases current and future trends in the global new generation biometrics market to elucidate the imminent investment pockets in the market
o Segmentation of the global new generation biometrics market provides an in-depth analysis of applications and end users in different regions
o Drivers & opportunities are examined to identify the current factors which are responsible for market growth and upcoming technologies that would boost market growth in the future
o Current and future trends are charted to determine the overall attractiveness of the market
o The report provides details about top competitors and their winning strategies
o Quantitative analysis of the current market and estimations through 2020-2027 would determine the financial caliber of the market

Next Generation Biometrics Market Key Segments:
By Technology
o Fingerprint
o Face
o Iris
o Vein
o Palm
o Voice
o Signature

By Application
o Government
o Travel & Immigration
o Defence
o Home Security
o Consumer Electronics
o Banking and Finance

By Geography
o North America
o Europe
o Asia-Pacific
o LAMEA

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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