Next Generation Biometrics Market worth $21 billion by 2020

Biometric Authentication has become the most important part of security due to an increase in unauthorized immigration, visa frauds, border intrusion, and so on.

“Biometrics” is the technology used to identify, verify and authenticate an individual using his unique traits like iris, retina, veins, fingerprint, palm and others. These traits are unique and cannot be copied or replicated easily. Biometric Technology provides accurate authentication and negligible margin of duplicity or error. Thus, due to this feature, the biometric devices are mainly used for security and surveillance purposes by government, defense, healthcare, banking, law enforcement and for access permit in organizations as well. It has increasingly been getting deployed at all the security checkpoints of airports, stations, commercial complex, retail malls, and so on.

Table of contents and insights:

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A Brief on Biometric Market:

The biometric market is estimated to touch $21 billion by 2020. Firstly, the increased investments by the IT, Governments and the Service Sectors in Biometrics are the main contributors to the revenue of the Biometric market as they constantly maintain records of the individuals. Secondly, the rise in online mode of payment in banking sector where biometric technology is used to keep the data record and transaction details safely from external threats is estimated to fuel the demand for next generation biometrics. Mobile giant, Apple Inc. has launched devices including features such as finger print identification to unlock the mobile. This provides a high security level and assures the safety of the content of the phone in case of a loss or stolen. The drawback of this technology is the cost of the devices.

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The Report Covers:

Major companies in Biometrics Market: 3M Cogent, Inc. , BioEnable Technologies Pvt. Ltd, Fujitsu, Inc. , NEC Corp., Hitachi Ltd., iPulse systems Pty. Ltd, Morpho Safran Group, Suprema, Inc. and so on.

For a complete list of companies covered:

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Segmentation based on:

Geography: America, Europe, APAC and RoW.
Type: Single Factor Authentication and Multi Factor Authentication
Application: Banking, Consumer Electronics, Defense, Enterprises/Corporations, Government Applications and Others
Function: Contact and Non contact

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