Rising security concerns driving global biometrics market growth: report
Persistence Market Research released its own report entitled “Next Generation Biometric Market – PMR Market Insight Report 2015 to 2021”, in which the biometrics market is expected to grow at a significant growth rate.
According to the report, this explosive growth rate can be attributed to the increasing occurances of terrorism and the theft of crucial data and information, which have raised concerns about national and personal security.
The report covers a number of key topics, including market segmentation according to types, application, products and technology; geographic segmentation including North America, Europe, Asia and RoW; the market size and forecast for the different segments and geographies; company profiles of some of the market’s leading companies; and Porter’s five forces analysis of the market.
The report highlights some of several key drivers of the market, including the growth in e-passport program, government support and extensive use in criminal identification. Additionally, the increasing need for large scale surveillance at public gatherings and penetration of smartphones will also drive the global next-generation biometrics market.
In terms of challenges that hinder the growth of the global next generation biometrics market, the report singles out high cost of systems and fear of privacy intrusion.
Conversely, the growing use of biometric technology in e-commerce and cloud computing for biometric technology will serve as an opportunity, which should help fuel the growth of the global biometrics market.
The report identifies some of the key players dominating the market, including 3M, Cross Match Technologies, Inc., Facebanx, Fingerprint Cards AB, Fujitsu Ltd., Fulcrum Biometrics, NCE Corporation, RCG Holdings Limited, Safran SA, and Siemens AG.