According to a report conducted by Research and Markets, the cumulative revenue for the 10-year period will total USD 11.7 billion at a compound annual growth rate (CAGR) of 38%. Biometrics app downloads are especially ready to break out of the starting blocks.
Many industries are getting close to adopting biometrics but finance is there now. Cash machines with fingerprint readers, vein imaging, and iris imaging are increasingly deployed, especially where fraud is high and law enforcement is low. Innovative point-of-sale authorization requires a fingerprint, facial recognition, or even an electrocardiogram. And mobile banking can be authorized through many types of biometrics, only readable from the customers own device.
The report examines the market for biometrics in the finance industry, including 10-year forecasts for the period from 2015 through 2024. The report examines six use cases specific to finance, focusing on consumer-facing use cases to improve security and convenience simultaneously. The report forecasts revenue, device shipments, and software licensing volumes. Within each world region, market forecasts are further segmented by biometrics modality and use case.
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