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Global Multi-Modal Biometrics Market 2016-2020

  • Published: Apr 2016
  • Pages: 55
  • SKU: IRTNTR9237
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This market research study presents a detailed segmentation of the global multi-modal biometrics market by technology (vein recognition, voice recognition, iris recognition, facial recognition, and fingerprint recognition) and by geography (APAC, Europe, Latin America, MEA, and North America). The key vendors in the market are BioID, IriTech, M2SYS, NEC, and Safran.

Outlook of the multi-modal biometrics market 

Extensive market research carried out by the analysts at Technavio has shown that the global multi-modal biometrics market will grow tremendously at a CAGR of more than 15% over the forecast period. With the emergence of mobile biometrics, the multi-modal biometrics market will have a positive outlook in the coming years. The increasing adoption of mobile devices across different sectors like healthcare, government, enterprises, BFSI, and transportation sectors is prompting the use of multi-modal biometrics for securing access to data on mobile devices. Mobile biometrics can be used to locate an individual at a particular location, such as schools, booking stations, prisons, cars of patrol officers, and on the battlefield to provide them authorized access to services. In addition, mobile biometrics also enables capturing the physical features of an individual and comparing them against the database for real-time identity verification. For example, MorphoTrust USA provides multi-modal biometrics in mobile devices to identify individuals in the field and provide them authorized access to premises. Moreover, several telecom operators are also encouraging the use of wireless mobile biometrics for access control purposes. Therefore, the increasing adoption and use of mobile biometrics for access control purposes will aid in the growth of the market over the predicted period.

In this industry research report, the analysts have estimated factors such as the increasing adoption of multi-modal biometrics in the education sector to propel the growth prospects of this market until the end of 2020. Education institutions are using biometric technologies such as finger vein and fingerprint recognition to ensure authorized access to various online and offline applications. Multi-modal biometrics are also used to control unauthorized access to restricted areas such as exam control rooms and laboratories. For example, Michigan State University in the US has implemented multi-modal biometrics by integrating face recognition, fingerprint recognition, and voice recognition biometrics for identity verification and providing access to students and employees.

Segmentation by technology and analysis of the multi-modal biometrics market

  • Vein recognition
  • Voice recognition
  • Iris recognition
  • Facial recognition
  • Fingerprint recognition

The fingerprint recognition segment dominated the multi-modal biometrics market and accounted for a market share of more than 43% during 2015. Factors such as the low cost of the hardware system for fingerprint recognition and the increasing need to track employees and government initiatives such as e-passports, border control programs, and e-governance is expected to bolster the growth prospects of this segment until the end of 2020.

Geographical segmentation and analysis of the multi-modal biometrics market

  • APAC
  • Europe
  • Latin America
  • MEA
  • North America

During 2015, North America dominated the multi-modal biometrics market and accounted for close to 39% of the market share in terms of revenue. The rising instances of criminal activities have resulted in an augmented demand for a multi-modal biometric system to identify criminals. This has also forced the government to increase its spending on biometric technology. Also, several airports in the region are implementing multi-modal biometric systems to secure identification of travelers. These factors will impel the growth prospects of this market in North America.

Competitive landscape and key vendors

The global multi-modal biometrics market is highly fragmented with the presence of several multinational and small regional vendors. The competition will intensify with an increase in solution extensions, technological innovations, and M&A.

Key vendors in this market are -

  • BioID
  • IriTech
  • M2SYS
  • NEC
  • Safran

Other prominent vendors in the market are 3M Cogent, 4G Identity Solutions, Crossmatch, Fujitsu, ImageWare Systems, Suprema, and ZKTeco.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global multi-modal biometrics market?
  • What are the key market trends impacting the growth of the global multi-modal biometrics market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global multi-modal biometrics market?
  • What are the market opportunities and threats faced by the vendors in the global multi-modal biometrics market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global multi-modal biometrics market?

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market description

  • Multimodal biometric systems workflow
  • Advantages and disadvantages of multimodal biometric systems
  • Applications of multimodal biometric systems

PART 06: Market landscape

  • Market overview
  • Market size and forecast

PART 07: Life cycle analysis

PART 08: Market opportunities and developments

  • Emergence of mobile biometrics
  • Increasing prevalence of IoT
  • Growing use of SSO
  • Contactless access control
  • Increasing use of NFC-based payments

PART 09: Market segmentation by technology

  • Global multimodal biometrics market by technology 2015-2020
  • Global multimodal biometrics market by fingerprint recognition
  • Global multimodal biometrics market by facial recognition
  • Global multimodal biometrics market by iris recognition
  • Global multimodal biometrics market by voice recognition
  • Global multimodal biometrics market by vein recognition

PART 10: Geographical segmentation

  • Global multimodal biometrics market by region

PART 11: Buying criteria

PART 12: Market challenges

  • Security concerns
  • Privacy issues
  • High TCO
  • High error rates

PART 13: Emerging market trends

  • Growing adoption of multimodal biometrics in healthcare sector
  • Emergence of multimodal biometrics in education sector
  • Growing integration of multimodal biometrics in smart cards
  • Emergence of multimodal biometrics in public utilities

PART 14: Five forces model

PART 15: Vendor landscape

  • Competitive scenario
  • Product offerings
  • Description of major vendors
  • BioID
  • IriTech
  • M2SYS
  • NEC
  • Safran
  • Vendor matrix
  • Competitive rating
  • M&A
  • Partnerships
  • Other prominent vendors

PART 16: Appendix

  • List of abbreviations

PART 17: Explore Technavio 

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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