A new ABI Research report predicts that the biometrics market will reach a value of $13.8 million this year as the commercial sector is poised to catch up with government agencies in utilizing biometrics technology.
The company said Monday that the consumer and enterprise segments will have the dominant share of the market by late 2017 and reach $8 million in spending by 2018.
The “Digital Authentication and Embedded Security Market Research” report indicates that intensified security efforts in the U.S. and Europe will still drive continued government investments in biometrics through early 2017.
ABI Research noted that fingerprint-recognition technology will have the highest demand due to supporting infrastructures, public acceptance and an accuracy-cost-acceptance-intrusive ratio that it described as “ideal.”
North America and the Asia Pacific will lead in sales, with the Middle East emerging as a growing market, the company said.
The companies included in the report are:
- 3M Cogent
- NEC Corp.