Global Biometrics Market to Hit Almost $15 Billion by 2024

Global Biometrics Market to Hit Almost $15 Billion by 2024All told, the report estimates that the current value of the global biometrics market is about $2 billion, and that it will grow to $14.9 billion by the year 2024.

Research and Markets has a new report available from research firm Tractica on the global biometrics market’s next decade. In this report, the firm’s researchers dig into the areas of unit shipments and revenues by modality, industry segment, technology, and use cases.

According to the report, the biggest industries over the next ten years will be government, healthcare, consumer devices, and finance. The major use cases will mostly fall in the areas of wearables, government IT systems, and banking and commerce; the last area might be particularly important, given the rising prominence of mPayment systems around the world and their need for advanced (and usually biometric) authentication systems. Call center use cases will also be widespread, the researchers note; and as for modalities, fingerprint, iris scanning, and voice recognition will remain dominant.

All told, the report estimates that the current value of the global biometrics market is about $2 billion, and that it will grow to $14.9 billion by the year 2024.

May 15, 2015 – by Alex Perala