New Market Report: Biometric Market in Middle East 2015-2019
Fast Market Research announces the availability of the new TechNavio report, "Biometric Market in Middle East 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWire) -- 09/04/2015 --Biometrics was introduced in the latter half of the twentieth century, with the emergence of computers. It is based on the behavioural and physiological characteristics of an individual that are difficult to replicate. Biometric technologies include voice recognition, palm geometry recognition, DNA identification, gait recognition, fingerprint matching, facial recognition, iris recognition, signature verification, and vein recognition. Also, biometric technologies are considered to be more reliable compared to physical devices and numeric codes. In addition, biometric traits cannot be lost or forgotten by an individual. Biometrics use verification and identification to authenticate an individual. Verification is a one-on-one process that matches the biometric traits of an individual against a particular template. However, identification is a process where the biometrics traits of an individual are matched against all templates in the database.
Get More Details on this Report and a Full Table of Contents at Biometric Market in Middle East 2015-2019
Several banks and financial institutions in the Middle East have integrated biometric technologies, such as voice controlled mobile applications, fingerprint identification, and retina recognition to allow their customers access to online accounts through mobile applications.
Many industry verticals have adopted biometrics in the Middle East because of increasing security and authentication concerns in the region. Some of the examples are listed below:
- Isbank, Turkey's largest commercial bank, has deployed finger vein biometric recognition at ATMs. The bank has installed nearly 3,400 finger vein scanners in 2,400 ATMs across 1,000 branches in the country
- Saudi Arabia's Al Rajhi Bank, an Islamic financial institution, has deployed biometrics at its ATMs across its branches
- UAE's Ministry of Interior, has deployed multimodal biometric screening systems at airports
- Egypt's Cairo International Airport implements biometric screening that uses facial recognition to identify travellers
- Finger vein scanners offered by Hitachi are being deployed in the healthcare sector in Turkey across several private hospitals and dialysis centers to identify patients efficiently
TechNavio's analysts forecast the biometrics market in Middle East to grow at a CAGR of 19.35% over the period 2014-2019.
Commenting on the report, an analyst from Technavio's team said: "Multimodal biometrics include the combination of two or more biometric technologies to provide more accuracy. For instance, biometric technologies such as fingerprint and finger vein pattern are used together, or a combination of fingerprint, iris, and voice pattern is used for secure authentication. These multimodal biometric systems are more accurate, reliable, and secure. Certain multimodal biometrics are available with both fingerprint and finger vein recognition technology in a single device, which allows the user to save the cost of buying two biometric devices. Multimodal biometric systems are gaining prominence in the Middle East for border control, where they are used to identify people moving in and out of countries."
According to the report, banks and financial institutions are significant adopters of voice biometrics for customer verification purposes. Voice recognition is expected to gain greater traction in banking over the next few years, specifically for mobile banking, as it is affordable, user-friendly, and does not require any hardware investment. Voice biometrics enable the comparison of a person's voice, including pitch, vocal tract, harmonics, and dialect, with a sample stored in the database for identity verification. Voice biometric solutions are becoming increasingly popular in the BFSI sector, as they eliminate the need for PIN-based passwords. For instance, the Abu Dhabi Commercial Bank deployed biometric solutions by Nuance Communications for secure and easy customer authentication.
Further, the report states that environmental factors such as background noise and network issues limit the adoption of biometrics and are likely to adversely affect the biometrics market in the Middle East.
The key players in the Biometrics Market in the Middle East are Cross Match Technologies, M2SYS Technology, NEC, Nuance and Safran while other prominent vendors include 4G Identity, BioEnable, Cardzme, Hitachi, SUPREMA, Uniphore, VoiceTrust and ZK Technology
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