Global biometrics market to reach $14.9 billion by 2024, forecast suggests

The global biometrics market will increase from $2.0 billion in 2015 to $14.9 billion by 2024, with cumulative revenue for the 10-year period totalling $67.8 billion, a recent market research report from Tractica has been able to reveal.

The key industries in the biometrics market over the next decade will likely be finance, consumer devices, healthcare, and government, followed by enterprise applications, defense, education, law enforcement, and non-government organizations.

Key use cases that are likely to drive biometrics revenue over the next decade, according to Tractica, include consumer device authentication, mobile banking, automated teller machines (cashpoints), government IT systems, point-of-sale transactions, pharmacy dispensing, and wearable device authentication. Biometric modalities that are likely to generate the most revenue include fingerprint, iris image, and voice recognition.

The report is based on a comprehensive and detailed 10-year market forecast for biometrics hardware and software during the period from 2015 through 2024. The forecasts are based upon analysis of 142 distinct use cases, each of which is forecast by world region and derived from separate forecasts for each OECD income level within a region. Biometrics revenue and device shipment forecasts are further segmented by industry, modality, device type, and use case.

Tensor — the partner of choice for deploying biometrics

As the UK market leader in the field of access control and time and attendance solutions, Tensor supplies an extensive range of products that actively employ biometric authentication, including fingerprint readers, hand scanner terminals and eye recognition solutions.

The biometric readers in Tensor's T34xx series feature an elegant case and are easy to use. They target specifically those users who want the absolute peace-of-mind, certainty and the assurance that only the right people can gain access to your sensitive or dangerous areas.

The biometrics solution supports Control and Reset functions, and also comes equipped with a range of connectivity options, such as one RS485 interface to clock and External Scanner interface, 1 port with full modem control ( Modem RS232 Interface) and 2 SPI ports (one port is used for scanner interface).

If you'd like to find out more about the range of biometric readers supplied by Tensor, not to mention the range of access control and Time and Attendance solutions they can be integrated into, just contact us or Book a Demo, our representatives will be more than happy to answer all of your questions and queries.