Biometrics Market Boosted by Fingerprint Sensors in Smartphones, Vein Technologies in ATMs and Iris Recognition in Healthcare, Predicts ABI ResearchOctober 13, 2015
An increasing amount of Chinese smartphone vendors are investing in equipping their devices with fingerprint sensors. Fingerprint sensors for smartphones are expected to reach 1 billion shipments by 2020, marking a 17% CAGR increase.
Biometrics on smartphone devices have moved past the simple authentication option and are headed towards establishing a more robust mobile payment solution. However, other biometric modalities like face, voice and eye-based recognition are currently moving out of the fledgling phase and are to be integrated as highly-secure – albeit more expensive – biometric capabilities in smartphone devices with a 5-year CAGR revenue growth of 144%.
In the banking and finance sector, ATMs receive a long overdue and much needed boost. ATMs are now incorporating finger-vein and palm-vein technologies as a primary or additional form of identification while voice recognition will maintain a leading position as fraud prevention software. Iris recognition is booming in the healthcare sector as a form of logical and physical access control, and hospitals are gradually investing more in biometric-based patient ID and Electronic Medical Records (EMR) software.
Leading suppliers of biometric technology include vendors Saffran Morpho, NEC, 3M Cogent, Agnitio and FPC. Promising up-and-comers include Techshino, EyeVerify and VKansee.
These findings are part of ABI Research’s Biometric Technologies and Applications Research Service, which includes comprehensive Research Reports, quarterly Market Data files, and timely Insights.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies.
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