Next Generation Biometric Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Published : 30 Aug 2024

Report Type : Global

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Description Table of Contents Scope of the Report

Next Generation Biometric Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Biometrics as a character is a measurable biological and behavioural characteristic that can be used for automated recognition and as a process it encompasses automated methods of recognising an individual based on measurable biological and behavioural characteristics. Verification of behavioural characteristics such as the face, fingerprint, iris, voice palm, vein, signature, and DNA. New generation biometric has a broad application in government and travel & immigration.

Next Generation Biometric Market Segments Size & Growth:

Next Generation Biometric Market is expected to increase by a $ 24.9 billion by 2024 at a CAGR of 17%. Increasing growth towards E-Passport program and the initiatives taken by the government are the key drivers for the growth of next generation market. However, current growth in this market is due to the fear of privacy invasion. Popularity in this market is due to the biometric characteristics such as fingerprint, hand, the face cannot be lost or easily forged.

Next Generation Biometric Market Segments Share:

Next Generation Biometric market is segmented into the type of solution which includes voice recognition, IRIS recognition, signature

Next Generation Biometric Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

recognition, face recognition, fingerprint recognition and others. Among these fingerprint recognition holds the most significant share due to its use as a permanent identification in law enforcement and its samples can be collected efficiently. Face and IRIS recognition are the second most used technologies.

Based on the End-user, Next generation biometric is Travel & immigration, Healthcare, Consumer Electronics, Defence, Home security and finance and banking. Finance and banking travel & immigration has the most significant share and growth. Based on geography, North America holds the largest growing market due to the presence of many finances and industrial growth in this region. The Asia Pacific holds the fastest increase due to the investments in this region are more significant especially in countries like China and Japan.

Next Generation Biometric Market Trends:

Criminal justice community with the world’s largest and most efficient electronic repository of biometric and criminal history information was provided by the Next Generation Identification (NGI),
Smart Phones to include the sensors for the iris, face and fingerprint recognition.
Companies that wish to limit access to

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Next Generation Biometric Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

their data centres may turn to biometrics as a more secure means compared with keys (or key cards) and passwords.

By the time it’s fully operational, NGI will serve as a massive data storehouse of ‘iris scans, photos searchable with a face, palm prints, recognition technology, tattoos and voice recordings alongside records of fingerprints, scars.

Next Generation Biometric Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
Cross Match technologies
Fingerprint Cards AB
3M Cogent, Inc
Siemens AG
Fujitsu Ltd
Facebanx

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