August 21, 2015 -
Research analyst firms TechNavio, Transparency Market Research, and Grand View Research have all published new biometrics market reports which include forecasts for the next decade.
TechNavio’s “Emerging Biometrics Technologies: Global Industry Analysis 2015-2019” report provides forecast for key technology segments, including DNA analysis, keystroke analysis, GAIT analysis, and EEG/ECG analysis.
The report analyzes the various segments the global market landscape including end-user categories such as the government and the healthcare sector.
The report also identifies the leading vendors as M2SYS, NEC, Safran, ID Control, AuthenWave, Deepnet Security, Motekforce, Qualisys, Tekscan, IMothins, Neurokia, and Neurosky.
The report states that the adoption of emerging biometric technologies is currently limited to the developed regions of North America, Europe, and APAC, but adoption of these technologies will grow in developing regions as the technology advances and numerous vendors enter the market.
The market is also experiencing high adoption of emerging technologies in the sports and gaming sectors, while the up and coming global DNA analysis biometrics market is expected to reach around US$570 million by 2019 due to high adoption in the government sector.
Transparency Market Research’s “Facial Recognition Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022” focuses specifically on the facial recognition market.
The report states that the biometric technology will find wide applications in sectors including government and utilities, military, homeland security, retail, banking, financial services, insurance (BFSI), and others (digital signage, web, and mobile applications).
Facial recognition systems are largely being used in the government sector and law enforcement agencies for security purposes, finds the report.
Additionally, report states that the rise in frauds in the BFSI sector has driven the use of facial recognition systems in this sector to ensure security and reduce crimes.
The report also highlights the use of facial analytics systems in the retail industry to determine the age, gender, and facial expressions of the customers for marketing purposes.
The report profiles some of the leading vendors in the facial recognition market, including NEC Corporation, Morpho S.A.S. (Safran Group), Cognitec Systems Pty Ltd, Aware, Inc., Animetrics, Inc., Ayonix, Inc., Cross Match Technologies, Inc., 3M Cogent Inc., FaceFirst, Inc. (Airborne Biometrics Group Inc.), ZK Software, Inc., and Aurora Computer Services Ltd.
Finally, Grand View Research published a report titled “Fingerprint Access Control Systems Market Analysis By Technology, By Application And Segment Forecasts To 2022”.
The report forecasts that the global fingerprint access control systems market size will grow significantly from its estimated value of USD $2.51 billion in 2014 over the next seven years.
The report states that the growing need for security requirements as a result of escalating terror attacks and crime rate is expected to drive industry growth.
Additionally, the report finds that the requirement for strengthening security in military and defense, border
protection, and customs is also anticipated to drive growth in the market.
Commercial fingerprint access control systems market, which accounted for over 30% of the overall revenue in 2014, is expected to continue to dominate over the next seven years, the reports states.
Additionally, the report finds that the government application segment is expected to grow at a CAGR of over 6.5% from 2015 to 2022.
The report states that the banking and financial sector is expected to adopt this technology to improve their security over mobile payment and also access to private banking data.
Optical sensing technology will lead all other technology segments — including capacitive, pressure, ultrasonic, and thermal — to witness growth over the forecast period.