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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.
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.
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.
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market landscape
PART 07: Life cycle analysis
PART 08: Market opportunities and developments
PART 09: Market segmentation by technology
PART 10: Geographical segmentation
PART 11: Buying criteria
PART 12: Market challenges
PART 13: Emerging market trends
PART 14: Five forces model
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
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