Biometrics market reports: digital identity, smart tickets, computer vision and China
The market for digital identity solutions around the world will grow from $13.7 billion dollars in 2019 to $30.5 billion in 2024, a CAGR of 17.3 percent over the five-year period, according to new research from Markets and Markets.
The 178-page report cites rising authentication fraud, increased biometrics integration in smartphones, and the drive towards end-to-end customer experiences will drive market growth.
Different authentication types are considered, with multi-factor authentication (MFA) projected to grow at a high rate, and the report also considers deployment mode, in which small and medium-sized enterprise (SME) adoption is expected to boost cloud growth to the highest rate, and region, in which Asia-Pacific is expected to lead growth.
Market participants are also covered, including NEC, Samsung SDS, Thales Group, GBG PLC, Telus Corp., Idemia, Tessi, ForgeRock, Jumio, Refinitiv, Duo Security (Cisco), AU10TIX, Imageware Systems, Verisec, Vintegris Tech, Signicat, Smartmatic, Syntizen, Intesa (IBM), and RaulWalter.
Smart ticket market to gain with biometrics
The introduction of biometric ticketing will make a significant contribution to growth in the smart ticketing market, which Technavio forecasts to grow at a 13 percent CAGR from 2020 to 2024. Vendors plan to secure identification, authentication, and access control with biometric ticketing for a variety of use cases.
The technology can be used to reduce fake or duplicate tickets, Technavio says. Facial recognition for subway access in China and biometric digital tickets to baseball stadiums in the U.S. are provided as examples of biometric ticketing that are already being introduced.
The market is broken down by geography and application, and key drivers, challenges, and trends are examined.
Massive growth for computer vision
With visual data volumes exploding and ever more sophisticated AI processes and chips to support them, the market for computer vision is expected to grow from $3.5 billion in 2019 to $28 billion by 2030, according to a new report from Global Data.
Computer vision technology is being commercialized for the security and surveillance, automotive, consumer, industrial, medical and entertainment sectors, the 50-page report says. It goes on to provide detail on how the technology works, its uses, and leading vendors, along with trends and industry analysis.
Facial recognition as a pillar of digital China
The widespread use of facial recognition gets its own chapter in a new ResearchandMarkets.com offering. “Digital China – The Other Digital Superpower,” discusses how government support for 5G and facial recognition, among other key technologies, is fostering growth and strong market positioning for a number of domestic companies.
The report surveys Chinese government policies related to facial biometrics from 2015 to 2019, and outlines the development of the domestic market. It also covers the digital market more broadly, looks at e-commerce and OTT communications in the market, and considers the Chinese IoT and blockchain ecosystems.