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.
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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.
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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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