Eager to move beyond passwords and staff identity badges, demand for biometric access technologies among enterprises, government entities and consumers is growing fast, according to a new report from ABI Research.
Overall revenues for the biometrics market are expected to reach $13.8 billion in 2015. The majority of revenues in most biometric recognition technologies are still coming from governmental entities, ABI says. But due to increased acceptance of biometric tools, enterprises and consumers are predicted to catch up with governmental spending in late 2017, becoming the dominant portion of the market.
Government spending on biometrics is increasing worldwide and will continue to do so until late 2016 or early 2017, the report says.
Fingerprint recognition is the most commonly used biometric recognition technology used because there is an existing infrastructure that supports the technology, and because users are gradually gaining acceptance in terms of using their fingerprint data to identify themselves. In addition, the “accuracy-cost-acceptance-intrusive ratio” of fingerprint technology makes it ideal at this point in a larger scale than other biometrics technologies, ABI says.
Enterprise demand for biometrics is heating up, and makers of wearables and smartphone will be implementing biometrics into their products. Corporate and consumer spending on biometrics will surpass governmental spending in 2018, exceeding $8 billion in total revenues, ABI predicts. Companies such as Apple and Samsung are leading the way in mobile integration of biometric tools.
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