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Global Next Generation Biometrics Market 2021 is expected to register a CAGR of 17.61%, during forecast period with Impact of Covid 19 Analysis

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Global “Next Generation Biometrics Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Next Generation Biometrics in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Next Generation Biometrics Market report categorizes the market based on manufacturers, regions, type, and application. Next Generation Biometrics Market reports offer a detailed assessment of the Next Generation Biometrics including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Next Generation Biometrics market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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The global next generation biometrics market was valued at USD 9.61 billion in 2017, and is expected to reach a value of USD 37.65 billion by 2023, at a CAGR of 17.61%, during the forecast period (2018 – 2023). The scope of the report is segmented by type of Solution which include face recognition, fingerprint recognition, iris recognition, palm print recognition, signature recognition, and by end-users is limited to government, defense, travel & immigration, home security, banking & finance, consumer electronics, and healthcare. While the region considered in the scope of the report include North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

High Degree of Security and Improvement in Confidentiality of Personal Information is Driving the Market

These systems prevent thefts, as the information is stored in the digital form, which helps in preventing manipulate information. One of the key trends witnessed in the next generation biometrics market is a paradigm shift in business discourse towards more privacy and less security threats. The end-users are increasingly looking for integrated solutions, rather than depending on conventional methods. The next generation biometrics providers and the governments have realized the growing importance for the need of biometric systems across several verticals, where security remains the primary concern. Moreover, the growing need for strengthening national security has increased the growth of these systems globally. Iris recognition is used in various countries for different purposes, such as passport free automated border crossings and many others.

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 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 the growth during the forecast period.

Banking Sector is the Fastest Growing Sector among Others

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 satisfaction of their customers, as it can eliminate passwords and increase the demand to adopt for biometrics in banking sector, which makes this market grow bullishly.

In Terms of Geography, North America Holds a Major Market Share, Followed by Europe

The 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 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.

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The global Next Generation Biometrics market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Next Generation Biometrics Market Report covers the Top Key-players in 2021:-

  • 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

Highlighted points of Next Generation Biometrics Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Next Generation Biometrics Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Next Generation Biometrics? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Next Generation Biometrics Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Next Generation Biometrics Market? What Was Capacity, Production Value, Cost and PROFIT of Next Generation Biometrics Market?
  • What Is Current Market Status of Next Generation Biometrics Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Next Generation Biometrics Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Next Generation Biometrics Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Next Generation Biometrics Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Next Generation Biometrics Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Next Generation Biometrics Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Next Generation Biometrics Industry?

Key Developments in the Next Generation Biometrics Market:

  • May 2017 – Gemalto announced the closing of the acquisition of 3M’s Identity Management Business after approval by the relevant regulatory and antitrust authorities. This strategic acquisition rounds out Gemalto’s Government Programs offering by adding biometric technologies and more secure document features and it ideally positions the Company to provide solutions for the promising commercial biometrics market. The Identity Management Business will be integrated into Gemalto Government Programs business. In 2016, the acquired business generated USD 202 million in revenue and an estimated USD 53 million in profit from operations
    With the acquisition 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 m

    Reasons to Purchase this Report

  • High degree of security and improvement in confidentiality of personal information is driving the market act as a driver to the global market scenario
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Which solutions and type of security is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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    Finally, the report Global Next Generation Biometrics Market 2021 describes the Next Generation Biometrics industry expansion game plan, the Next Generation Biometrics industry knowledge supply, appendix, analysis findings, and the conclusion.

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