Next Generation Biometrics Market Analysis by Type of Authentication
(Single Factor, Multi-Factor, Multi-Modal); Biometric Type (IRIS, Face,
Fingerprint, Vein); By Application (Banking, Government, Consumer Electronics,
Retail) - Forecast (2015 – 2020)
Browse 135 Market Tables & 47
Figures spread through 260 Pages and an in-depth TOC on “Next Generation
Biometrics Market”: http://industryarc.com/Report/1308/next-generation-biometrics-market-analysis.html
Biometric Authentication has become the most
important part of security due to an increase in unauthorized immigration, visa
frauds, border intrusion, and so on.
“Biometrics” is
the technology used to identify, verify and authenticate an individual using
his unique traits like iris, retina, veins, fingerprint, palm and others. These
traits are unique and cannot be copied or replicated easily. Biometric Technology provides accurate authentication and negligible margin
of duplicity or error. Thus, due to this feature, the biometric devices are
mainly used for security and surveillance purposes by government, defense,
healthcare, banking, law enforcement and for access permit in organizations as
well. It has increasingly been getting deployed at all the security checkpoints
of airports, stations, commercial complex, retail malls, and so on.
Market
Brief:
The Next
Generation Market was accounted to be $5.9 Billion in 2014 and is expected
to grow at a healthy CAGR of 22%
during the forecast period, 2015-2020. The key driver for the market is the
increasing demand for security along with convenience in a cost effective
device. Currently, Consumer Electronics is the most potential market segment.
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With the current leading potential segment as
Consumer Electronics, the Global Next Generation Biometrics Market has a
lot of scope. Many Global Players are investing to launch new products and gain
competitive advantage over the total market due to the high innovation hopes
existing.
Geographically, emerging regions hold high
potential value and present good amount of opportunities for players in the
market. These regions are good platforms for well growing segments like Enterprises and Healthcare. (They hold
well for segments excluding Consumer Electronics and Government Market).
In 2014, Americas dominated this market with
Europe standing on the second position. While these two were noted to be the
established regions, APAC and ROW are the regions full of growth potential.
They witnessed a high annual growth rates and is expected to continue. . With
greater disposable income and high demand from consumer end, these regions are
projected to witness quick growth in the market. Apart from these, government
initiatives in law enforcement and defense also immensely hike the market
value. The growing demand for the data protection in
electronic devices (laptops, tablets, and mobile), financial services and
government documents is set to drive
the biometric market.
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REPORT
SCOPE:
The Next
Generation Biometrics Market Report is an exhaustive study of the biometric devices and sensors that are
utilized across several industries. Besides the segmentation of the market,
this report analyses the strategic opportunities, life cycle of industry,
market landscape and similar others. Furthermore, the market is evaluated based
on the key attributes such as the power of producers and consumers, analysis on
the degree of competition, and threats from substitutes and new entrants.
Market
Segmentation:
The Next
Generation Biometric Systems is broadly classified into 3 types based on
certain factors:
- By Type: Single Factor Authentication and Multi Factor Authentication
- By Application: Banking, Consumer Electronics, Enterprises &Corporations and Others.
- By Geography: Americas, APAC and ROW.
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Key
Players:
The market is characterized by established
brands with high revenue; high R&D capital reserves and well instituted
distribution channels. But, the market place is also being disrupted by firms
with innovative solution that have emerged to solve specific problems.
With cost effective solutions offering
greater security, companies will be able to position themselves uniquely.
- 3M COGENT, Inc.
- Bio-Key, International Inc.
- Cross Match Technologies
- CMI Tech Company, Ltd.
- Fujitsu Limited
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