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Biometrics Market On the Up
October 5, 2015 | ABI ResearchEstimated reading time: Less than a minute
An increasing amount of Chinese smartphone vendors are investing in equipping their devices with fingerprint sensors. Fingerprint sensors for smartphones are expected to reach 1 billion shipments by 2020, marking a 17% CAGR increase.
Biometrics on smartphone devices have moved past the simple authentication option and are headed towards establishing a more robust mobile payment solution. However, other biometric modalities like face, voice and eye-based recognition are currently moving out of the fledgling phase and are to be integrated as highly-secure - albeit more expensive - biometric capabilities in smartphone devices with a 5-year CAGR revenue growth of 144%.
In the banking and finance sector, ATMs receive a long overdue and much needed boost. ATMs are now incorporating finger-vein and palm-vein technologies as a primary or additional form of identification while voice recognition will maintain a leading position as fraud prevention software. Iris recognition is booming in the healthcare sector as a form of logical and physical access control, and hospitals are gradually investing more in biometric-based patient ID and Electronic Medical Records (EMR) software. Leading suppliers of biometric technology include vendors Saffran Morpho, NEC, 3M Cogent, Agnitio and FPC. Promising up-and-comers include Techshino, EyeVerify and VKansee.
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