DUBLIN, Jan. 4, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/75rpf9/biometric_market) has announced the addition of the "Biometric Market in Middle East 2015-2019" report to their offering.
The biometrics market in Middle East to grow at a CAGR of 19.35% over the period 2014-2019.
To calculate the market size, the report considers revenue generated from the sales of biometric solutions including hardware, software, integrated solutions, and services offered in the government sector. Revenues generated from aftersales services are not included to calculate the market size.
The market is highly fragmented with the presence of a large number of small and large vendors. A detailed product and feature comparison of key leading vendors is provided in the report.
In addition, the report discusses the major drivers that influence the growth of the biometrics market in the Middle East. It also outlines the risks faced by vendors and the market at large, as well as the key trends that are emerging in the market.
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.
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
- Cross Match Technologies
- M2SYS Technology
Other prominent vendors
- 4G Identity
- ZK Technology
Key Topics Covered:
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 Developments
Part 07: Market Landscape
Part 08: Market Segmentation By Technology
Part 09: Market Segmentation By End-Users
Part 10: Key Leading Countries
Part 11: Market Trends
Part 12: Market Inhibitors
Part 13: Vendor Landscape
Part 14: Key Vendor Analysis
Part 15: Appendix
For more information visit http://www.researchandmarkets.com/research/75rpf9/biometric_market
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets