ABI Research: Biometric hardware global revenue to reach US$9B by 2027
July 16, 2023 By SP&T Staff
A recent report from ABI Research indicates that revenues for biometric hardware devices are set to reach $US9 billion globally by 2027, up from US$7 billion in 2022.
Biometric devices — as well as consumer electronics like smartphones, tablets and wearables — are projected to grow along with biometric capabilities, according to the research firm.
There are two main areas in the biometrics market, states the firm in a press release: dedicated devices used by governments, enterprises, health care and other institutions; and second, smartphones and tablets as means of biometric authorization.
“Given convenience and user experience, we see a trend of biometric verification often going through a personal device where possible, that being using your smartphone or other to capture or verify your own biometric data, where apps and web pages increasingly incorporate biometric means of authentication as a password replacement or way to verify oneself,” said Lucas Stewart, research analyst, ABI Research, in a statement. “Alongside the usability factor, this trend is underpinned by a clear need for mobility. In terms of standalone biometric devices, the need for mobility in these larger scale kits manifests with movement toward more handheld and portable devices.”
Stewart identifies biometric locks as “a key area of opportunity and something we will see more and more of as smart home concepts progress.”
ABI forecasts biometric locks growing from 9.3 million shipments in 2022 to 35.5 million in 2027. The border control market is another area of potential biometric growth as more people travel in a post-COVID world.
ABI’s findings are from its Biometrics Technologies and Applications market data report.
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