A new study by Transparency Market
Research (TMR), titled “Next Generation Biometrics Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024,” states that the
growing usage of next generation biometric technology in restricting illegal entry
is driving this market significantly. Apart from this, the rising trend of e-passports
and its increasing application in criminal identification
also fueling the demand for next generation biometrics in the global arena.
On the contrary,
the high cost incurred on the installation and maintenance of next generation
biometric systems is limiting its adoption in organizations. The fear of
intrusion of privacy is also discouraging them to deploy these systems,
impacting the market’s growth negatively. However, the rising usage of
biometrics in e-commerce and adoption of cloud-computing in biometric technology
are projected to provide attractive opportunities for the growth of the
worldwide market for next generation biometrics during the forecast period,
states the research report.
application of this technology in the travel and immigration industry, rising
penetration of smartphones and tablets, and the growing need for large-scale
surveillances at public places are also expected to boost the global market for
next generation biometrics in the coming years.
the research study, the market is likely to gain significant impetus from the
rising awareness regarding the benefits offered by next generation biometric
technology such as the accuracy, interoperability, ease of utilization, a high
degree of privacy, and uniformity across the system. Along with these, this
technology also supports storage of data in the digital format, making it
nearly impossible to decode and restructure.
The research report
studies the global market for next generation biometrics market on the basis of
the type, application, and the geographical spread of this market. Based on
type, the market has been classified into fingerprint recognition, iris
recognition, face recognition, voice recognition, vein recognition, palm print
recognition, and signature recognition.
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On the basis
of application, the research report has categorized the market into banking and
finance, travel and immigration, government, defense, healthcare, home security,
commercial security, electronics, and other applications.
regional basis, the market has been segmented into Europe, North America, Asia
Pacific, and the Rest of the World in this market study.
Technologies, RCG Holdings Ltd., ValidSoft UK Ltd., Suprema Inc., Thales Group,
Fujitsu Ltd., 3M, Facebanx, Siemens AG, Fingerprint Cards AB, Fulcrum
Biometrics, and Safran SA are the major enterprises operating in the global next
generation biometrics market, states the research study.
Transparency Market Research (TMR) is a
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services. The company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision makers.
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