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
- Latin America
- 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 -
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?
Technavio also offers customization on reports based on specific client requirement.
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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