Biometrics ranked fifth on CompTIA Emerging Technologies list for 2020, market forecasts bullish
Biometrics have moved up two spots on the list of “Top 10 Emerging Technologies for 2020” from CompTIA’s Emerging Technology Community, hurdling robotics and blockchain to take the number 5 spot.
Artificial Intelligence and 5G will drive the technology revolution, according to the announcement, and are trailed by the internet of things (IoT) and serverless computing.
The third annual edition of list presents emerging technologies that the community believes offer the most immediate opportunity for new business and revenue for tech firms.
“Of the two, AI is probably going to have the most short-term impact as it becomes embedded in almost every software system and is used in process automation to make increasingly smarter systems,” says John Rice, president of Think Channel and member of the CompTIA Emerging Technology Community Executive Council. “5G’s effect will take a little longer to be seen, but will be no less impactful, providing the increased speed and decreased latency to give other technologies the foundation they need to reach their potential.”
Face recognition to near $10B by 2025
The overall market for facial recognition is expected to grow even faster, surging at an 18.84 percent CAGR from $3.54 billion in 2019 to $9.99 billion in 2025, driven by video surveillance and crime detection systems, according to Valuates market research
The “Global Facial Recognition Software Market Report…” report covers the impact of facial biometrics adoption for different applications, including border controls, smartphone implementations, and enterprise use cases. The split between 3D and 2D systems is explored, along with regional markets, in which Asia-Pacific is forecast to grow at the fastest rate.
A new report from MarketsandMarkets puts the global rate of market growth for facial recognition at 17.1 percent this year. Revenues will grow from $3.8 billion in 2020 to $4.5 billion next year, according to the “COVID-19 Impact on Facial Recognition Market…”
Cloud-based facial recognition is expected to see the largest gains, while government and defense projects, in many cases related to COVID-19 tracking, will have the highest growth among sectors. Like the one above, the report suggests that Asia-Pacific will see the strongest growth among regions.
Gesture recognition set for huge growth
“Gesture Recognition in Consumer Electronics Market – Forecast (2020 – 2025)” from IndustryARC forecasts a massive 34.9 percent CAGR from 2018 to 2023, driving the market to $4.85 billion, as device-makers seek to improve the ergonomics and ease of use of their offerings.
Roughly half of that will be in the Asia-Pacific region, and the growth will be divided among smartphones, tablets, laptops, PCs, televisions, set top boxes, and other devices. The evolution of smart homes powered by connected devices is singled out as a potential market opportunity.
The 101-page report also considers market forces, gesture types, sensing types and market leaders.
Capacitive and touch fingerprint sensors to lead market through 2030
A new “Fingerprint Sensors Market Research Report…” from Prescient & Strategic Intelligence predicts the overall global market for fingerprint sensors will grow at a robust 13.6 percent CAGR from 2020 to 2030, starting at a 2019 base of $3.8 billion, driven by demand for government sector projects and consumer electronics.
As in facial recognition, Asia-Pacific is expected to be the region with the highest growth rate, though the U.S. market is expected to top all country markets at $2.4 billion in 2030, based on a 9.8 percent CAGR over the forecast period. BFSI is expected to be the fastest-growing vertical in the market, in large part due to the emergence of biometric payment cards, and despite concerns about shared surfaces, contact sensors are expected to continue generating higher revenue through 2030, according to the report. Capacitive sensors are also forecast to continue as the leading sensor type.
In-display fingerprint sensors for mobile devices are identified as a major market trend, along with fingerprint credit and debit cards.
Consumer electronic biometrics to double by 2025
The market for consumer biometrics is expected to roughly double from 2019 to 2025, leaping from $4.17 billion to $8.27 billion on a 12.08 percent CAGR, according to a new report from 360iResearch.
The 235-page “Consumer Electronic Biometrics Market Research Report…” breaks down the market by sensor, application, end user, and geography, and details leading vendors.
A report from Mercator Advisory Group on ” Biometrics: Driven by Standardized Authentication, Adopted by Consumers” meanwhile suggests the increasing popularity of biometric authentication on mobile devices will be encouraged to continue by regulations like PSD2.
“Authentication using biometrics is rapidly being adopted by consumers, in part as a result of hardware manufacturers enabling its use, and in part because the standard for authentication created by the FIDO Alliance has increased the ease with which authenticators can utilize the mobile biometrics over the web and decrease authentication friction for consumers,” comments David Nelyubin, Research Analyst and co-author of the report.
Smartphone biometric authentication
The market for biometric authentication with smartphones is examined in a report from AE Research, including the effect of COVID-19. The “Biometric Authentication for Smartphone Market Report” forecasts growth of the segment through 2025, outlines market drivers and key challenges, and considers the market by region, product and application type, and major players.