Market Research Future (MRFR), the global next generation biometrics market would reach the valuation of USD 32BN approximately, registering over 18% CAGR throughout the forecast period (2017-2023). This new era of security being hailed as safer, and more convenient, it is much closer than one can think to bid a goodbye to keys, cards, passwords and PIN codes, etc.
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For a better understanding, the report has been segmented into six key dynamics:
By Component: Hardware (scanners, cameras, fingerprint readers, and others), Solutions, and Services (installation services and support & maintenance services).
By Function: Contact and Non-Contact.
By Technology: Fingerprint, Face, Iris, Palm, Voice, Signature, and DNA, among others.
By Verticals: BFSI, Military & Defense, Government, Healthcare, Consumer Electronics, IT, and Travel & Immigration, among others.
By Authentication Type : Single-Factor and Multi-Factor, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
North American region would retain its dominance over Next Generation Biometrics Market. Technological advancements and increasing usages by law enforcement agencies and various other sectors are some of the factors driving the regional market. Moreover, early adoption of the latest cutting-edge identification and recognition technologies assures an edge over other regions.
The next generation biometrics market in the Asia Pacific region accounts for the second-largest market, globally. Huge advancements in the related technologies and the availability of futuristic yet cost-competitive identification technologies is a key driving force behind the growth, the regional market is witnessing.
Also, the increasing adoption of next-generation biometric systems across government and commercial sectors for identification of individuals provides impetus to the growth of the regional market. Additionally, the dynamic growth in industries such as web, telecom, data centers, and the internet of things (IoT) ensures a substantial share of the region in the global space.
Players leading the next generation biometrics market include NEC Corporation (Japan), Safran SA (France), 3M Cogent Inc. (US), Suprema Inc. (South Korea), Fujitsu Ltd. (Japan), Cross Match Technologies Inc. (US), Thales Group (France), Fulcrum Biometrics LLC (US), Bio-Key International Inc. (US), Secunet Security Networks AG (Germany), Precise Biometrics AB (Sweden), ValidSoft (UK), Facebanx (UK), Fingerprint Cards AB (Sweden), RCG Holdings Limited (Hong Kong), and Siemens AG (Germany), among others.
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