According to a report by Research and Markets, one trend which is playing a big role in boosting market growth is the emergence of mobile biometric payments. The use of biometrics technology in the mobile payment industry is increasing following the launch of smartphones such as Samsung S6, which has a fingerprint scanner embedded within the phones hardware, and smart mobile devices that are equipped with built-in biometric sensors. The most common biometric technologies used in mobile devices are fingerprint recognition, voice recognition, and facial recognition.
The paper indicates that a key growth driver is the increased acceptance of multimodal biometrics. These biometric systems are more reliable, secure, and accurate and are capable of avoiding spoofing attacks. These systems are more widely accepted for border control because of their reliance on multiple biometric technologies for identification rather than on a single characteristic.
Furthermore, the report states that one challenge that could hamper market growth is the high cost of biometric systems.
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