SecurityWorldMarket

30/08/2017

Biometrics markets to surge to 2021

New York, NY

The global next generation biometric market is expected to grow at a substantial growth rate due to the rising number of terrorists activities.  This is according to a new report published by New York based research company, Persistence Market Research.

In the report, the global next generation biometrics market is segmented into three major categories, on the basis of type into face recognition, fingerprint recognition, iris recognition, palm print recognition, voice recognition, signature recognition, vein recognition, and other next generation biometric recognition technologies, on the basis of application into government, defence, travel and immigration, banking & finance, consumer electronics, healthcare, home security, commercial security and other application.

The market is also segmented by function into contact and non contact. The market is further segmented by geography into North America, Asia Pacific, Europe and rest of the world regions.

According to the analysts, the market is driven by factors such as the growth in e-passport programme, government support and extensive use in criminal identification. Growing the need for large scale surveillance at public gatherings and penetration of smartphones will also act as drivers for the global next generation biometrics market.

Some of the factors found to be inhibiting the growth of the global next generation biometrics market are high cost of systems and fear of privacy intrusion. The growing use of biometric technology in e-commerce and cloud computing for biometric technology will serve as an opportunity, fuelling the growth of the global next generation biometric technology market.

Some of the key players cited by Persistence Market Research as dominating the market are 3M, Cross Match Technologies, Inc., Facebanx, Fingerprint Cards AB, Fujitsu Ltd., Fulcrum Biometrics, NCE Corporation, RCG Holdings Limited, Safran SA, and Siemens AG among others.


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