According to a study conducted by Tractica, the global biometrics market is expected to increase with a compound annual growth rate of 25.3 percent and cumulative revenue for the 10-year period totaling USD 67.8 billion.
The report predicts key industries in the biometrics market over the next decade will likely be finance, consumer devices, healthcare, and government, followed by enterprise applications, defense, education, law enforcement, and non-government organizations.
Key use cases that are likely to drive biometrics revenue over the next decade, according to Tractica, include consumer device authentication, mobile banking, automated teller machines (cashpoints), government IT systems, point-of-sale transactions, pharmacy dispensing, and wearable device authentication. Biometric modalities that are likely to generate the most revenue include fingerprint, iris image, and voice recognition.
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