Biometrics Helps to Drive Self-Service Tech Market Growth

Biometrics Helps to Drive Self-Service Tech Market GrowthBiometric technology is helping to drive forward a major expansion of the self-service technology market, according to a new report from Allied Market Research. Entitled “Global Self-Service Technology Market (ATM Machines, Kiosk Machines, Vending Machines and Geography) – Size, Share, Industry Analysis Trends, Opportunities Growth Segmentation and Forecast, 2014 – 2020”, the report predicts annual growth of almost 14 percent (CAGR) from this year to 2020.

Biometrics’ role here is mostly to facilitate user authentication. A report synopsis cites deployments like fingerprint authentication for secure financial transactions, and while those kinds of setups are on the way, so far the real explosion in self-service biometrics has been in the area of security screening, especially at airports. Programs like TSA PreCheck are already scanning travelers’ biometrics at automated air terminal kiosks, and similar fast-track eGates are popping up all over the world. We’re also seeing experimentation with other applications of this technology, as in the case of the Massachusetts motor vehicle registry using automated kiosks to let individuals perform routine actions like licence renewal without needing to see a live clerk.

It’s likely that many more such deployments will be realized in a variety of contexts over the coming months and years, and given the growth the report predicts in the areas of financial services, retail, and healthcare, those will probably be key sectors for these biometric authentication technologies as well. The report also predicts that the North American market is proving to be the hungriest for self-service technology, with very strong demand also coming from the Asia-Pacific and LAMEA regions.

June 9, 2015 – by Alex Perala