Biometrics research brief: biometric identification, healthcare biometrics, mobile commerce
Market.biz estimates that the global biometric identification market reached US$5.53 billion in 2017 and will increase to US$21.77 billion by 2023, at a projected compound annual growth rate (CAGR) of 25.66 percent from 2018 to 2023.
Biometric verification or identification is any means by which a person can be uniquely identified by evaluating one or more distinguishing biological traits. Unique identifiers include fingerprints, hand geometry, earlobe geometry, retina and iris patterns, voice waves, DNA, and signatures.
The firm notes the top leading manufacturers in the market include: Hitachi Ltd., Safran, HID Global Corporation/Assa ABLOY AB, Fingerprint Cards AB, Nuance Communications Inc., Methode Electronics, VOXX International Corp., Continental AG, Robert Bosch GmbH, Voicebox Technologies Corporation, FUJITSU and Synaptics Incorporated.
According to research vendor Market Research Future, the global healthcare biometrics market is expected to reach US$5.6 billion at a compound annual growth rate (CAGR) of 22.3 percent by 2022.
The research firm claims that the global healthcare biometrics market is growing rapidly because of increasing awareness about the safety and security of patients, and increasing use of biometrics devices in healthcare sector applications. The firm also notes that growing healthcare infrastructure is driving market growth for healthcare biometrics devices.
Market Research Future notes that the key players in the market include: Fujitsu Limited, 3M Cogent Inc., BioEnable Technologies, NEC Corporation, Morpho (A Subsidiary of Safran SA), Bio-Key International, Suprema, Inc., Crossmatch Technologies Inc., Integrated Biometrics and Imprivata Inc.
The research vendor notes that the North America region is believed to be the largest market for healthcare biometrics, while the Asia-Pacific region is the fastest growing for such products and services.
According to eMarketer, mobile commerce now accounts for six percent of global total retail sales and nearly 60 percent of e-commerce, following a yearly rise of 40 percent in 2017.
Global m-commerce sales rose 40.3 percent last year to US$1.357 trillion, representing six percent of total retail expenditures.
The research firm estimates that retail e-commerce sales worldwide will reach US$2.842 trillion in 2018, a 23.3 percent increase over 2017.
China alone constituted 67.1 percent of m-commerce sales worldwide in 2017, driven by its mobile-first Internet audience. Sales in China are expected to nearly triple from US$909.93 billion to US$2.595 trillion between 2017 and 2021.
Markets with significant mobile spending also include Japan, South Korea, the UK and the US. Growth has been fueled by consumers feeling more comfortable making purchases on their biometric-enabled smartphones.