The analysts forecast the global multimodal biometrics market to grow at a CAGR of 15.49% during the period 2016-2020.
Multimodal biometrics is being implemented in a number of sectors such as the healthcare, BFSI, transportation, automotive, and government for controlling access to secure premises and authenticating individuals. Multimodal biometrics, which is an integration of a number of biometric technologies, such as fingerprint, facial recognition, or voice recognition, can be used to prevent unauthorized access to ATMs, healthcare databases, mobile devices, and different online and offline applications.
One of the major trends affecting the market is the implementation of multimodal biometrics for controlling access to secure premises in the education sector. Educational institutions are using biometric technologies such as finger vein and fingerprint recognition to ensure authorized access to different online and offline applications. Multimodal biometrics is also being used to control unauthorized access to restricted areas such as exam control rooms and science labs.
According to the report, 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.
Further, the report states that the adoption of multimodal biometrics in organizations is giving rise to privacy issues. Multimodal biometrics involves the use of an individual's biometric features to gain access to confidential data and secure premises.
Key questions answered in this report:
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?