Next Generation Biometrics Industry with Highest growth in the near future by leading key players
Market Highlights
Identification documents and PIN are traditional methods used to
verify the identity of every individual. However, due to increasing security
breaches, illegal financial transactions, and unauthorized immigration across
borders, the need for next-Generation Biometrics
has increased. Next generation biometrics recognizes individuals with their
biological characteristics such as face, voice, palm, fingerprints, signature,
iris, vein and DNA. Next-Generation Biometric authentication can be carried out
by using a combination of hardware and software-based solutions that
automatically identify and authenticate an individual.
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Many industry giants are also innovating their products and
incorporating new features in their respective portfolios. Samsung is expected
to feature a 3D camera and in-display fingerprint reader in its upcoming mobile
Samsung Galaxy S10/X. The 3D camera is expected to come with a 360-degree image
and video capture, which will be more than biometric identification. Also,
in-display fingerprint reader is leveling-up the competition among
manufacturers to provide better next-generation biometric tools.
Key
players
The prominent players
in the market of Next Generation Biometrics are - Safran S.A. (France), NEC
Corporation (Japan), 3M Cogent Inc. (U.S.), Fujitsu Ltd. (Japan), Suprema Inc.
(South Korea), Cross Match Technologies Inc. (U.S.), Fulcrum Biometrics LLC
(U.S.), Thales Group (France), Bio-Key International Inc. (U.S.), Precise
Biometrics AB (Sweden), Secunet Security Networks AG (Germany).
The prominent players keep innovating and investing in research and
development to present a cost-effective portfolio. There has been recent
mergers and acquisitions among the key players, a strategy the business
entities leverage to strengthen their reach to the customers.
Regional Analysis
The global market for next-generation biometrics is estimated to
grow at a significant rate during the forecast period from 2017 to 2023. The
geographical analysis of next-generation biometrics market is covered for the
regions such as North America, Europe, Asia Pacific and rest of the world.
However, due to extreme usage of biometric tools for identification and
authorization in North America, it is expected to emerge as the leading region
during the forecast period.
Technological advancements in next-generation biometrics such as
combining passwords with lip movements, remote scanning of individual’s heart
dimensions and pulse rate to grant authorization, facial recognition, and
fingerprint vein identification are majorly developing in the Asia Pacific
region. Thus, Asia Pacific region is expected to show staggering growth during
the forecasting period.
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