Biometrics App Market Projected To Reach $22 Billion by 2020
Roughly 12.9 billion mobile biometric apps -- generating nearly $68 billion in revenue -- are forecast to be downloaded to smart mobile devices during the seven-year period through 2020, said a report from Acuity Market Intelligence. The segment will grow…
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from less than $100 million in 2014 to more than $21.7 billion in 2020, it said. Acuity estimates more than 5.4 billion biometric smart device apps will be downloaded in 2020, and 4.8 billion biometric mobile devices will be in circulation in 2020, with most containing multiple apps from multiple sources. Emerging, complex relationships among identity, mobility and commerce are “redefining global communication and commerce ecosystems and require frictionless, yet highly reliable security” that biometrics can deliver, said Acuity analyst Maxine Most. Mobile biometric apps can operate independently, or they can leverage embedded biometrics or other biometric apps, she said.