Global Next Generation Biometric Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027 at a CAGR of XX % during the forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

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Global Next Generation Biometric Market Dynamics:

Integration of biometrics in smartphones, the introduction of e-passport, and an increase in the usage of biometric systems for criminal identification are the major factors for the growth of global next generation biometric market. Also, an increase in the use of biometric technology in banking and healthcare and adoption of biometric technology in election administration are other driving factors of global next generation biometric market. Fear of privacy intrusion and inconvenience and high cost of biometric devices hamper the market growth of the next-generation biometric market. Use of biometric technology in e-commerce and cloud computing for biometric technology provides a lot of opportunities for the global next-generation biometric market.

IRIS recognition is one of the fastest growing amongst the type of solution. Few benefits of this technology are that it is easy to use, difficult to forge and is accurate. Terrorist attacks; other cross-border illegal activities and cybercrimes have created the need for implementing the iris recognition technology. The iris recognition application in the consumer electronics sector is expected to witness the highest growth rate during the forecast period mainly because of the commercialization of various iris scan-based electronic devices, like smartphones, tablets, smart watches, notebooks, and others. However, the increasing expansion of iris recognition in several verticals is expected to increase growth during the forecast period.

Next generation biometrics has attracted end-user industries, like government, defense, travel & immigration, home security, banking & finance, consumer electronics, healthcare. For instance, Major Banks are also rolling out biometric authentication. JP Morgan, Chase, Bank of America and Wells Fargo allow their customers to log in to mobile banking via fingerprint authentication. Voice authentication is also deployed in banks’ call centers to identify customers. Next generation biometric authentication can also raise the satisfaction of their customers, as it can eliminate passwords and increase the demand to adopt for biometrics in the banking sector, which makes this market grow optimistically.

This market is expected to witness significant growth in emerging economies, such as the Asia-Pacific region, which is estimated to grow steadily over the forecast period. Apart from the consumer electronics and government sector, the healthcare sector is expected to experience a rise in the application of next-generation biometrics in these regions. Few countries, like China, India, Russia, and Mexico are driving the growth of biometric systems. China has initiated a biometric national ID program, which commenced in 2013. However, the increase in computer storage of essential documents has increased the need for next-generation biometric systems.

With the acquirement of 3M's Identity Management Business, Gemalto makes a strategic move by in-sourcing biometric technology. Combining market access, technologies and expertise will enable Gemalto to further accelerate the deployment of trusted national identities and to offer strong end-to-end biometric authentication solutions throughout the digital economy.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Next Generation Biometric market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Next Generation Biometric Market, Key Highlights:

• Global Next Generation Biometric Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Next Generation Biometric Market

• Global Next Generation Biometric Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Next Generation Biometric Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Next Generation Biometric Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Next Generation Biometric Market are also profiled.

The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.

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Scope of Global Next Generation Biometric Market :Inquire before buying

Global Next Generation Biometric Market, By Technology

• Fingerprint
• Face
• Iris
• Vein
• Palm
• Voice
• Signature
Global Next Generation Biometric Market, By Application

• Government
• Travel & Immigration
• Defence
• Home Security
• Consumer Electronics
• Banking and Finance
Global Next Generation Biometric Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Next Generation Biometric Market Key player

• 3M Cogent Inc.
• Cross Match Technologies
• Facebanx
• Fingerprint Cards AB
• Fujitsu Ltd.
• Fulcrum Biometrics
• RCG Holdings Limited
• Safran SA
• Siemens AG
• Suprema Inc.
• Thales Group
• ValidSoft UK Ltd
• NCE Corporation
• Suprema Inc.
• Bio-Key International Inc.
• Precise Biometrics AB
• Secunet Security Networks AG
• ValidSoft
• ZKTECO CO., LTD.
• LAFORGE OPTICAL

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