Biometrics market to reach $6.2 billion in 2019

In a new report, Frost & Sullivan revealed that the biometric market earned revenues $1.48 billion in 2012, and they expect this figure to reach $6.15 billion in 2019. The rise can be attributed to the increase in demand from financial and commercial sectors for applications such as ATMs, retail points of sale, and finance.

Biometrics market to reach $6.2 billion in 2019

Image: FreeDigitalPhotos

Despite the optimism, the industry must overcome some obstacles that are stunting its development, such as the lack of knowledge among consumers, fears regarding privacy, and uncertainty about the reliability and security of stored data.

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