forecast, market

Biometric systems market to hit a value of $20 billion by 2018 (Companies and Markets)

Social networking sites are anticipated to begin using biometrics for authentication. The increasing use of mobile/tablet based applications will encourage mobile industry leaders like Apple and Google to implement biometrics in to mobile devices.

The market for fingerprint biometric technologies is expected to see the largest increase with an annual growth rate of 19.6 percent. It is currently the main source of revenues in the biometrics market totalling $2.7 billion and by 2015 it will grow to reach more than $6 billion.

The second largest segment in biometrics, the market for face, iris, vein, and voice recognition technologies, will expand to $3.5 billion, from its current size of roughly $1.4 billion.

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