Thursday, 16 August 2018

Next Generation Biometrics Market Research Report, Trends, Analysis and Forecast to 2026


Biometrics is being used as the authentication method these days with increasingly high demand for reliable security. The types of biometrics used are fingerprint, face, hand geometry, iris, retina, keystroke, gait, and voice recognition. Using biometrics for identification restrict individuals from access to physical spaces and electronic services. In addition, it stops the potential fraudsters to take more than one identities. Physiological biometrics has being largely used for authentication purposes. From the last few years the use of biometric applications is growing rapidly. Countries across the world are facing challenges from increasing number of terror attacks and crimes and looking for advanced solutions which improve the security at both public and private places.


The Global Next Generation Biometrics Market is accounted for $13.89 billion in 2017 and is expected to reach $63.26 billion by 2026 growing at a CAGR of 18.3% during the forecast period. Across the world, Biometrics solutions are gaining momentum in a number of domains creating security measures that are more convenient than in other approaches. The application of biometrics for identification is likely to expand across markets led by convergence trends affecting biometrics technology providers, ICT networks, security and cloud storage industries, at risk verticals such as banking, healthcare, and retail including smart phone makers. Apple was among the first to incorporate fingerprint identification on its phones which has since become a must-have feature other smart phones must match. For instance, Aadhar cards and e-passports in India are making use of biometric technology. This technology has gained wide acceptance owing to their ease of use in government sector.


On considering all these aspects within three years, biometrics will become a standard feature on smart phones as well as other mobile devices, due to increased consumer acceptance of biometric tools; Increasing demand of facial recognition in smart devices, such as smartphones, laptops, tablets, and personal digital assistants, which are used for both personal and business purpose, presents various growth opportunities for the facial recognition market. Moreover, burgeoning number of drones in various commercial sectors, such as media & entertainment, inspection, and surveying, contribute to the demand of facial recognition.


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