Biometrics to boost digital UI, market forecast to hit $54.97B by 2025
Frost & Sullivan’s latest industry report lists biometric technologies among the most significant growth drivers for the global user interface (UI) market. The firm predicts that due to the rising demand for automated authentication and identification, the biometrics market will reach $54.97 billion in revenue by 2025.
One key factor in the user interface market’s predicted growth will be the increased use of biometric technologies for automated identification and authentication. Combination interfaces of fingerprint, vein, face, voice, and iris biometrics become especially important as multi-modal authentication adds an extra layer of assurance and reduces spoofing risk. Next-generation identification, palm vein and behavioral biometrics are forecast for higher demand.
This forecast follows the firm’s 2020 assessment that predicted biometric technology to transform digital privacy and cybersecurity. Additionally, developing technologies such as augmented reality/virtual reality (AR/VR) and brain-machine interfaces will also contribute to more sophisticated interface interactions in the digital realm.
The report, titled ‘Future of User Interfaces Shaping New Consumer Experiences,’ examines how the use of biometric technology, AR/VR, brain-machine Interfaces, and digital twins will help ease engagement and interactivity for various sectors. In particular, the healthcare, education, banking, retail, and manufacturing sectors will acquire these new technologies to meet the rising demand for safe automated solutions amid the COVID-19 pandemic.
Frost & Sullivan Visionary Innovation Group Senior Industry Analyst Murali Krishnan said, “The need for adoption of new user interface (UI) technologies to alleviate challenges posed by the global pandemic is immediate but constrained by infrastructure issues such as a lack of 5G networks and capable devices. For futuristic UIs to become ubiquitous, security and privacy will be critical. Organizations must prioritize cybersecurity, business continuity plans, and risk assessments. Further, the transition to the fifth generation of wireless technology will be critical to the success of UI devices. Its ability to connect 1 million devices for every square kilometer will make 5G the backbone for UI devices and overall connected ecosystems.”
The report forecasts the overall global market for AR and VR to grow by an 86.3 percent CAGR from 2019 to 2025 and reach $661.4 billion.
Krishnan added: “UI technologies will be an important component in the shift from the office to a virtual workplace that is mobile and more flexible, while interactive interfaces have expanded the scope of businesses to engage with their customers and build deep relationships. Technological advances in mixed reality, holographic displays, computer vision and wearables will create new application opportunities.”
A recent MarketsandMarkets forecast pegged the global biometric systems market at $68.6 billion in 2025.