Next Generation Biometrics Market Analysis | IndustryARC


Posted December 13, 2016 by nehachopra

The Next Generation Biometrics Market deals with the development, manufacture and distribution of identification systems utilizing biometric technology all across the globe

 
The Next Generation Biometrics Market deals with the development, manufacture and distribution of identification systems utilizing biometric technology all across the globe. The growth of random ‘lone wolf’ terrorist attacks in Europe as well as other continents is expected to drive the importance of biometric systems as well as biometric devices further. Another factor fuelling the growth in demand for biometric identification systems is to stem the leak of classified data to organizations like WikiLeaks via whistleblowers.
The biometric recognition systems produced by the Next Generation Biometrics Market can be described as the technology which enables the verification or authentication of an individual’s identity through automated review of her/his physical characteristics or behavior. The physical characteristics considered could be various factors like fingerprints, voice or speech analysis, analyzing signature or facial patters, retinal scanning, etc. The stock of biometric companies has risen when it comes to cross-checking an individual’s identity while under suspicion or personalized surveillance.
Scope & Regional Forecast of the Next Generation Biometrics Market
The Next Generation Biometrics Market works under the assumption that every individual has a unique set of physical or behavioral characteristics which can be identified and logged for future reference. Next generation biometric systems have gained a healthy level of respect and popularity among various Governments as well as enterprises during the last few years. In fact, quite a few governments have passed laws and initiatives restricting unlawful entry by utilizing biometric scanners to identify individuals.
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Other promising applications for biometric technology are the rising voices for e-passport implementation and an increased usage of it for the identification and capture of criminal elements. Biometric identification is also gradually being preferred in e-commerce activity and cloud computing solutions. Both of these sectors are set for immense growth in the future. Biometric devices like the biometric scanner are expected to be crucial for the implementation of advanced travel and immigration systems over the next couple of decades, especially in Europe which is facing a refugee crisis.
So far, the Next Generation Biometrics Market has been dominated by North America due to the high disposable income of the population, increase in need for safety due to recent terrorist attacks and the introduction of cost effective biometric devices by biometric companies. The Next Generation Biometrics Market expects Europe to be a major future market due to the ongoing refugee crisis.
Segmentations & Key Players Involved in the Next Generation Biometrics Market
According to IndustryARC findings, the Next Generation Biometrics Market can be broken down into various segmentations on the basis of –
Type: Single Factor Authentication, Multi-Factor Authentication and Others.
Application: Banking, Consumer Electronics, Enterprises & Corporations, Government Applications, Healthcare, Hospitality, Gaming, Retail and Residences.
Some of the key players involved in the Next Generation Biometrics Market according to IndustryARC are as follows:
• ZK Technology LLC.
• VIRDI Tech Co. Ltd
• Smart Sensors Ltd.
• RCG Holdings Limited.
• Precise Biometrics AB.
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Issued By Industryarc
Country India
Categories Business , Electronics , Security
Last Updated December 13, 2016