According to the research company, biometrics technologies will grow from about USD 14 billion in 2015 to more than USD 30 billion in 2021. The demand from within consumer electronics, particularly smartphones, will help push this growth of 118%. Annual embedded fingerprint sensors are forecast to reach 2 billion by 2021 at compound annual growth rate over the period of 40%.
Although, North America and Asia-Pacific regions dominate the sales of biometrics, ABI Research says that Latin America and the Middle East are expected to boom in biometric implementations for banking, personal finance, governmental and security applications. Technologies include embedded sensors in consumer electronics and payment cards, four-finger, iris, and facial recognition in smartphones and vein recognition in ATMs.
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