Next Generation Biometrics Market Global Development, Demand, Growth Analysis, Key Findings and Fore

Requirements for authentication and identification of every individual is increasing at a rapid pace. Although many industries are using biometrics as a security tool, some of them are still following the conventional methods of using tokens or access cards for authorization. Unlike access cards, biometric characters such as the face, fingerprint and hand and so on cannot be lost, stolen or forged. Next generation biometric solutions bring secure and frictionless authentication to organizations.

Next Generation Biometrics Market can be relevantly seen in border security control, crime and fraud prevention and detection attendance recording, payment systems, and access control. Some of the loopholes observed in the next generation biometrics system are spoofing, substitution and replay attacks, tampering, masquerade attack, Trojan horse attack, overriding of Yes/No response, and instances of inaccuracy, i.e., false acceptance rate (FAR) and false recognition rate (FRR).

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Due to the growing technological proliferation and incorporation of next-generation biometric products, government and travel & immigration industry verticals are driving the growth of next- generation market. Also, use of biometrics in a criminal investigation is one of the factors that is driving the adoption of next-generation biometrics. Although the next-generation biometric solutions are observing applications among many industry verticals, the high cost of deployment and risk involved in privacy intrusion are restraining the market.

Key players:

• 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)
• ValidSoft (U.K)
• Fingerprint Cards AB (Sweden)
• Facebanx (U.K)
• RCG Holdings Limited (Hong Kong)
• Siemens AG (Germany).

Segmentation:

By Component, the market is segmented into Hardware, Solutions, and Services. Hardware is classified into scanners, cameras, fingerprint readers, and others. Services are further classified into installation services and support and maintenance services.

By Function, the market is segmented into Contact, Non-Contact and Others.

By Technology, the market is segmented into Fingerprint, Face, Iris, Palm, Voice, Signature, DNA, and Others.

By Vertical, the market is segmented into BFSI, Military & Defense, Government, Healthcare, Consumer Electronics, IT, Travel & Immigration and Others.

By Authentication Type, the market is segmented into Single Factor Authentication and Multi-Factor Authentication. Single factor authentication includes Fingerprint Recognition, Iris Recognition, Palm Print Recognition, Face Recognition, Vein Recognition, Signature Recognition, Voice Recognition and Other Biometric Technologies (DNA Recognition, Keystroke Recognition, Gait Recognition). Multi-factor authentication includes Biometrics combined with Smart Card Technology, Biometrics combined with Pin Technology, Two-factor authentication, and Three-factor authentication.

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