Next Generation Biometric Market worth $23.54 Billion by 2020
DALLAS, April 9, 2014 /PRNewswire/ –
According to the new market research report “Next Generation Biometric Market by
Technology (Fingerprint, Palm, Face, Iris, Vein, Voice & Signature), Function, Application
(Government, Defense, Travel & Immigration, Home Security, Banking, Consumer Electronics &
so on) & Geography – Forecasts & Analysis 2014 – 2020″, published by MarketsandMarkets,
the biometric market will be worth $23.54 Billion by 2020 at an estimated CAGR of 17.6%.
Browse 158 market data Tables, 59 Figures spread through 352 Pages and in-depth TOC on
“Next Generation Biometric Market”.
Early buyers will receive 10% customization on this report.
`Biometric’ implies the identification or authentication of humans by their traits
such as face, fingerprint, voice, iris, palm, DNA, and signature. Biometric authentication
has become the most important part of security due to an increase in unauthorized
immigration, visa frauds, border intrusion, and so on. It has increasingly been getting
deployed at all the security checkpoints of airports, stations, commercial complex, retail
malls, and so on. Biometric technology provides accurate authentication and negligible
margin of duplicity or error.
This report describes the various types of Next Generation Biometric Market such as
face, fingerprint, iris, voice, signature, vein, and DNA recognition that are being used
for different applications. Out of all the above types, face, fingerprint, and iris
recognition are commonly used in most of the applications. Fingerprint recognition is the
oldest type of biometric authentication and can be seen at banks, ATMs, and various
The report also throws light on the various application areas of biometric technology
such as government, banking and finance, travel and immigration, defense, consumer
electronics, home security, commercial security, and healthcare. Biometric technology is
slowly spreading across all the industries wherever security is of the prime concern.
Biometric technology is largely deployed in the application areas such as government,
travel and immigration, banking and finance, and defense. The government applications
cover voting, personal ID, license, building access, and so on, whereas, travel and
immigration use biometric authentication for border access control, immigration, detection
of explosives at the airports, and so on. Banking and finance sector use biometric
authentication for account access, ATM security, and so on.
The leading companies in the biometric market covered in the report are 3M (U.S.),
Cross Match Technologies (U.S.), Facebanx (U.K.), Fingerprint Cards AB (Sweden), Fujitsu
Ltd. (Japan), Fulcrum Biometrics (U.K.), NEC Corporation (Japan), RCG Holdings LTD (Hong
Kong), Saffran SA (France), Siemens Ag (Germany), Suprema Inc. (South Korea), Thales Group
SA (France), and Validsoft (U.K.).
Browse Related Report
Multi-Factor Authentication Market by Model/Type (Two, Three, Four & Five-Factor),
Application (Banking & Finance, Government, Defense, Healthcare and others), & by
Geography – Global Trend & Forecast to 2014 – 2020
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