Biometrics market reports released by ABI Research and WinterGreen Research
ABI Research has released new research from its Biometric Technologies and Applications Research Service which forecasts that fingerprint sensors for smartphones are expected to reach 1 billion shipments by 2020, marking a 17% CAGR increase.
This surge is driven by the increasing number of Chinese smartphone vendors investing in equipping their devices with fingerprint sensors.
Meanwhile, the report finds that biometric modalities such as face, voice and eye-based recognition are emerging from its early development phase and are slowly being integrating into smartphone devices, with a 5-year CAGR revenue growth of 144%.
ATMs are integrating finger-vein and palm-vein technologies as a primary or additional form of identification while voice recognition will continue to maintain its leading position in the fraud prevention software market, said the report.
In the healthcare sector, iris recognition is being widely used as a form of logical and physical access control, while hospitals are gradually investing more in biometric-based patient ID and Electronic Medical Records (EMR) software.
The report identifies several leading suppliers of biometric technology including Safran Morpho, NEC, 3M Cogent, Agnitio and FPC, as well as emerging vendors like Techshino, EyeVerify and VKansee.
In another report, WinterGreen Research published a new study entitled “Biometrics: Market Shares, Strategy, and Forecasts, Worldwide, 2015 to 2021”.
The 1003-page report finds that the global biometrics market will rise from $7.0 billion in 2014, to $44.2 billion by 2021.
The report finds that India, Mexico and Russia are the top countries driving the explosive growth of biometric systems.
According to the report, the growth of biometric technologies has been in response to global security threats, such as terrorist attacks, airport security initiatives, and attempts to lower crime rates.
These threats have led to a number of government projects around the world, including e-passports, e-driving licenses, border management, and national IDs.
Other key industries in the biometrics market are finance, consumer devices, and healthcare, according to the report.
The report identifies the key types of biometric devices, including automated fingerprint identification systems (AFIS), palm and vein reading systems that supplement AFIS, non-automated fingerprint identification systems, facial recognition, iris scans, integrated AFIS, face, and iris systems, DNA readers, biometric signatures, data encoders, bar coder, and document scanner.
There are four market segments for biometric technologies listed in the report, including law enforcement, border control which includes government ID systems, workplace access, and consumer ID.
The report also analyzes several key use cases including smartphone payment systems, consumer device authentication, mobile banking, automated teller machines (cashpoints), government IT systems, point-of-sale transactions, pharmacy dispensing, and wearable device authentication.
“Biometrics represent a multi-billion dollar industry because the devices provide personal identity protection,” said Susan Eustis, leader of the WinterGreen Research team that prepared the study. “Biometrics is used by civil authorities to permit the organization of people into units of government that are a cohesive group of people, not intruded upon by outsiders. Biometrics provides a cornerstone of law enforcement agencies with fingerprint ID.”