Biometrics Industry to Generate US$13 Billion Revenues in 2015 but Technological Challenges Remain Huge

image
New York, New York - July 23, 2015

​Biometric technologies are developed constantly, strengthening their position in both existing markets like law enforcement and government applications, but also in emerging high-value segments like the consumer and banking markets. Near-infrared iris recognition technology is a promising up-and-comer for both smartphone applications and enterprise access control, while ultrasound fingerprint and vein recognition companies are looking to establish their dominance in banking and finance applications. Shortcomings on facial recognition, solid-state, and optical fingerprint technology are being revisited with companies unveiling new commercial deployments to secure their position in the market but some technical issues keep them from delivering to their full potential.

Different end-user markets, however, have specific needs and restrictions and cannot accommodate all biometric technologies resulting in less than satisfactory deployments. “We see companies not initially getting the expected ROI because of the combination of modality-application-vertical they chose to employ,” says Dimitrios Pavlakis, Research Analyst at ABI Research. “The overly advertised False Acceptance and False Rejection metrics are simply one part of a larger equation which includes: data quality, data storage, scalability, compatibility, application effectiveness, environmental fluctuations, and technical specifications among others.” This research deconstructs, analyzes, and compares the underlying biometric sensing technology and proposes both near and long term solutions to technical issues for each modality.

With the overall industry forecasted to reach US$26.8 billion in revenues by 2020, biometric security and surveillance is way past the “trend” threshold and is steadily making its way into multiple verticals—one segment at a time. Key vendors for biometric security include Saffran Morpho, 3M-Cogent, NEC Corp., and Crossmatch Technologies while market innovators deploying their own novel solutions include Qualcomm, Fujitsu, MasterCard, VKansee, HRS, Booz Allen, EyeVerify, and Google.

These findings are part of ABI Research’s Biometric Technologies and Applications Market Research.

ABI Research provides technology market research and technology intelligence for industry innovators. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.

About ABI Research

ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.

ABI Research提供开创性的研究和战略指导,帮助客户了解日新月异的技术。 自1990年以来,我们已与全球数百个领先的技术品牌,尖端公司,具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact ABI Research

Media Contacts

Americas: +1.516.624.2542
Europe: +44.(0).203.326.0142
Asia: +65 6950.5670

Related Service