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.
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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. Covered in this report This report covers the present scenario and the growth prospects of the biometrics market in the Middle East for the period 2015-2019. 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.
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The report provides a detailed analysis of the following: Technologies: fingerprint identification, DNA analysis, iris recognition, facial recognition, and voice recognition Countries: Saudi Arabia, Turkey, UAE, Egypt, Syria, Iraq, Israel, Iran, Yemen, Jordan, Palestine, Lebanon, Oman, Kuwait, Qatar, Bahrain, and Cyprus 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.
Technavio’s report, Biometrics Market in Middle East 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape of the biometrics market in the Middle East and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
• Cross Match Technologies
• M2SYS Technology
• Nuance Safran
Other prominent vendors
• 4G Identity
• ZK Technology
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Market growth inhibitor
• Lack of accuracy
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• Emergence of multimodal biometrics
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Key questions answered in this report
• What will the market size be in 2019 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?
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