New Report Says Biometrics Industry Will Be Worth $21.9 Billion By 2020

Market research company 6Wresearch has released a new report on the global biometrics market, and the prognosis is good. The researchers believe that the global market will reach a value of $21.9 billion by 2020.

Very much in line with other recent studies, the 6Wresearch report indicates that the global biometrics market is being strongly driven by government initiatives such as security screening and national identification projects like the one that India’s government has been pioneering. Another major factor is fingerprint biometrics, which is relatively inexpensive and has very rapidly been infiltrating the mobile sector as the “exponential growth” of mCommerce has helped to make it a standard security feature.
Other biometric technologies specializing in scanning irises, veins and faces are also enjoying rapid growth, according to the report; and multimodal biometrics systems are on the rise as well. North America has so far dominated the market, but the researchers predict that by the end of the year it will fall into second place, with the APAC region leading the way. Top revenue-generating countries, by region, include the United States, Japan, South Korea, China, Saudi Arabia, Qatar, Brazil, Mexico, and South Africa.
January 12, 2015 – by Alex Perala