ABI Research, a market research firm, has predicted that the enterprise and consumer sectors of the global biometrics market will reach $3.1 billion in revenues this year. The prediction is a product of two of the firm’s market research reports: Digital Authentication and Embedded Security, and Biometric Technologies and Applications.
The researchers attribute much of the growth to the implementation of biometric technology in smartphones. In a statement, Digital Security Research Analyst Dimitrios Pavlakis notes that “smartphone biometrics provide not only a secure alternative for authentication, mobile payments, and BYOD initiatives but also enhance user experience, navigation, mobility, and versatility.” The mobile payments aspect could prove particularly important, with a number of major companies preparing their own mPayment platforms to compete with Apple Pay, and probably keen to implement biometric security features as Apple has done.
Meanwhile, ABI’s researchers point to EyeVerify, AGNITiO, KeyLemon, ImageWare Systems, and Nok Nok Labs as biometrics developers “introducing voice and face biometrics into the landscape and investigating innovative ways of consumer identity management and implementing improved security features.” It’s a diverse technological landscape, in other words, but one rich with competition, and experiencing significant growth.