The Global Next Generation Biometrics market is estimated at $13.33 billion in 2014 growing at a CAGR of 10.38% is expected to reach $29.37 billion by the year 2022. Next Generation Biometrics market is expected to drive the market over next decade due to expected growth in commercial and home security segments. Adoption of e-commerce services and E-governance are the factors influencing the growth of the market. High cost of biometric devices and fear of Privacy Intrusion are the factors restricting the growth of the market. The growth of market lies in Future E-commerce and emerging mobile trends. Security of Biometric Data is the biggest challenge for Next Generation Biometrics market.
Global Next Generation Biometrics market is segmented by Authentication Type, by Function, by Application and by Geography. Based on Authentication Type, market is segmented into Palm, Fingerprint, Face, Voice, Signature and DNA. Based on Function, market is classified into Contact Biometrics and Non-Contact Biometrics. Based on Application, market is segregated into Healthcare, Military & Defense, Security, Government, Commercial Security and Banking & Finance and Power Sector. Next Generation Biometrics market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World.
The Key players in the market includeFujitsu Ltd., Thales SA, NEC Corporation, Fulcrum Biometrics, Precise Biometrics Ab, Suprema Inc., 3M Cogent, Inc., Bio-Key International, Inc. and Safran SA.
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