Driven by Consumer and Enterprise Segments, Biometrics Market Forecast to Grow to US$26.8 Billion in 2020

image
17 Mar 2015

​Overall market revenues for biometrics are forecast to hit US$26.8 billion in 2020, most of which is still stemming from government. “However, due to increased consumer acceptance of biometric modalities, consumer and enterprise segments are predicted to catch up with governmental spending in late 2017 and take the dominant portion of the market, hitting 29% CAGR for the period 2015 to 2020,” comments Dimitrios Pavlakis, Research Analyst at ABI Research.

“More companies are rising to the challenge expecting a bigger slice of the market, especially in the consumer and enterprise segments. However, since biometric technology is comprised of multi-layer applications spanning diverse ecosystems, there will ultimately be winners and losers,” adds Pavlakis. “This is because simply creating a matching biometric algorithm will get you nowhere. Developing a sustainable, scalable, and dependable biometric solution requires a plethora of factors that need to be addressed for both present and future markets. Players in this space will need to take into the account the ever-changing technology as well as consumers’ expectations.”

ABI Research’s new research service Biometric Technologies and Applicationsdelves into the biometrics industry and provides a complete overview of the underlying technology, end-user applications, market trends, and corporate strategy insights. Starting from the sensor and device hardware manufacturers, the software and algorithm design, all the way to the third party cloud-based services and analytics/processing solutions, ABI Research will provide market insights on the full application spectrum.

ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. 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