According to a new report from ABI Research, demand for biometrics is being driven by the increasing adoption of fingerprint sensors on smartphones, along with the use of vein technologies for ATM transactions and iris recognition solutions in healthcare. In fact, the research firm said that fingerprint sensors for smartphones are expected to reach 1 billion shipments by 2020, marking a 17 percent CAGR increase.
In a statement, ABI said that biometrics on smartphone devices have moved past the simple authentication option and are headed towards establishing a more robust mobile payment solution. Other biometric modalities like face, voice and eye-based recognition are also currently moving out of the fledgling phase and are to be integrated as highly-secure - albeit more expensive - biometric capabilities in smartphone devices with a 5-year CAGR revenue growth of 144 percent.
In the banking and finance sector, ATMs are now incorporating finger-vein and palm-vein technologies as a primary or additional form of identification while voice recognition is expected to maintain a leading position as fraud prevention software. Iris recognition is booming in the healthcare sector as a form of logical and physical access control, and hospitals are gradually investing more in biometric-based patient ID and Electronic Medical Records (EMR) software, the research firm added.
For more information, visit www.abiresearch.com.
