June 7, 2016
The biometrics market is expected to see a substantial growth over the coming years. Some estimates suggest that by 2021, the market will reach a value of $30 billion with its primary revenues shifting from the government sector to banking and consumer electronics.
Fingerprint sensors, in particular, are expected to be a major force with shipments forecast to approach 2 billion by 2021, reflecting an overall growth rate of 44%.
HID Global, an American manufacturer of secure identity solutions, believes that biometrics is the only authentication method that binds a myriad of digital and physical credentials to a person. As such, biometrics plays an important role in eliminating digital identity theft in increasingly complex and vulnerable digital environment.
According to the company’s estimations, by the end of 2016, total revenues for biometrics supplied to the global banking sector will reach $2.2 billion. Moreover, the company expresses confidence that the financial biometrics market will eventually ...