Report forecasts biometrics market to surpass $50b by 2024

Global Market Insights has published a new research report which forecasts the global biometrics market will surpass $50 billion by 2024. The company’s analysts attribute the growth to the high acceptance among various verticals including mobile banking and financial services owing to increasing security concerns. The report lists government initiatives for biometrics implementation combined with high deployment for criminal identification are also key factors driving industry demand. Analysts state that industry players will focus on technological advancements and new product launches