New York, NY -- (SBWIRE) -- 08/26/2016 -- The global next generation biometric market is expected to grow at a substantial growth rate due to the rising number of terrorists activities also the increasing theft activities on the part of crucial data and information which have raised concerns regarding the national security. Biometrics technology is basically the identification and verification of humans by their characteristics such as face, fingerprint, voice, iris, palm, signature, vein, and DNA.

The global next generation biometric market is segmented into three major categories, on the basis of type into face recognition, fingerprint recognition, IRIS recognition, palm print recognition, voice recognition, signature recognition, vein recognition, and other next generation biometric recognition technologies, on the basis of application into government, defense, travel and immigration, banking & finance, consumer electronics, healthcare, home security, commercial security and other application. The market is also segmented by function into contact and non contact. The market is further segmented by geography into North America, Asia Pacific, Europe and rest of the world regions.

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The market is driven by factors such as the growth in e-passport program, government support and extensive use in criminal identification. Growing the need for large scale surveillance at public gatherings and penetration of smartphones will also act as drivers for the global next generation biometrics market.

Some of the factors inhibiting the growth of the global next generation biometrics market are high cost of systems and fear of privacy intrusion. The growing use of biometric technology in e-commerce and cloud computing for biometric technology will serve as an opportunity, fuelling the growth of the global next generation biometric technology market.

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Some of the key players dominating the market are 3M, Cross Match Technologies, Inc., Facebanx, Fingerprint Cards AB, Fujitsu Ltd., Fulcrum Biometrics, NCE Corporation, RCG Holdings Limited, Safran SA, and Siemens AG among others.