Market intelligence firm Tractica is predicting significant growth for the worldwide fingerprint scanning market. The firm suggests that annual shipments of mobile devices using the technology will exceed one billion units by the year 2021.
That represents 34 percent of all mobile device shipments for that year, and Tractica says that in North America, which will lead the global market, a little over half (51 percent) of all mobile devices will have embedded fingerprint sensors. Right now adoption of the technology is mostly being driven by the need for user authentication for device access as well as mobile transaction authorizations, but according to lead analyst Bob Lockhart the technology’s applications will soon expand to “additional identification and authentication use cases for banking and financial transactions, government identification, and healthcare applications, among others.”
In a report on the overall mobile biometrics market, Tractica provides some further numbers to underscore the trend, most notably that global mobile biometrics revenues will rise from $249 million this year to $3.5 billion by the year 2024. That reflects impressive growth, but it’s actually way below recent predictions from another market intelligence firm – Acuity, which asserted that the global biometric market would grow from $1.6 billion in 2014 to $34.6 billion in 2020. That may reflect differences in the technologies considered – for example, Acuity consider wearables to be mobile devices, while Tractica’s mobile biometrics report pays little attention to the burgeoning tech field – but in any case, both agree that significant growth is in the cards.