However, according to a recent report from Tractica, it is in no way homogeneous. Instead, the biometrics market comprises at least 13 biometric modalities, 11 major industry sectors, and 142 individual use cases, not to mention more than 100 technology vendors and systems integrators.
The report anticipates that the worldwide biometrics technology market will grow from USD 2.0 billion in 2015 to USD 14.9 billion by 2024. During that period, Tractica forecasts that cumulative revenue will total USD 67.8 billion.
The report adds that, while all biometric modalities will experience growth during the coming decade, the largest revenue opportunities lie with fingerprint recognition, voice recognition, and iris recognition. Other notable modalities that will have a place in the market include facial recognition, vein recognition, facial thermography, electrocardiogram (ECG) recognition, retina recognition, and DNA recognition.
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