Global Next Generation Biometrics Market:
Overview
The
identification and security systems deployed across organizations have evolved
a great deal in the past few years. Many recent advances introduced in these
systems have considerably benefited businesses worldwide in fortifying their
security. Next generation biometrics is one such technology that has been
witnessing rising demand around the world.
Biometrics
technologies are automated methods used for verifying and authenticating the
identity of a person based on behavioral or physical characteristics such as
fingerprints, voice patterns, vein and signature patterns, facial patterns,
hand measurements, and eye retina and iris. Biometrics has emerged as a popular
method of verifying the identity of a person under surveillance. The basic
premise of the technology is based on the fact that every person is unique and
it is possible to identify him/her by the intrinsic physical or behavioral
traits.
Next
generation biometrics has gained incredible popularity in the last few years,
mainly because of the favorable government initiatives adopted globally to
restrict illegal entry. The technology has also gained impetus from the
introduction of e-passports and its increasing use in criminal identification.
Furthermore, the growing use of biometrics in cloud computing and e-commerce
solutions is expected to provide lucrative opportunities for the global next
generation biometrics market.
This
multi-billion dollar market is anticipated to further gain from the rising
applications in the travel and immigration industries. Over the report’s
forecast period, the market is poised to exhibit an impressive CAGR. The report
a comprehensive overview of the next generation biometrics market, presenting
insights into the key drivers and restraints impacting the market’s growth.
Next
Generation Biometrics Market: Key Opportunities and Threats
The
next generation biometrics technology offers a high degree of privacy,
accuracy, ease of use, interoperability, and uniformity across the system. The
growing awareness about the benefits offered by biometrics has been crucial in
driving the market for the technology behind it. Furthermore, biometric
technology enables storage of information in the digital format, which is
nearly impossible to decipher and reconstruct.
Owing
to its exceptional features, the next generation biometrics technology finds
use across varied applications ranging from health care, government, defense,
and border security to commercial security, travel and immigration, and banking
and finance. The increasing government funding for deploying biometric
technology across various economic sectors has been a major factor boosting the
global next generation biometrics market.
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