Cost is a major concern in the global biometrics market.
Research and Markets has published a new report titled “Global Mobile Biometrics Market 2014-2018”, which outlines the prospects for the global biometrics market over the next five years. According to this report, the market is expected to grow significantly, with a 156 percent increase in compound annual growth rate between now and 2018.
This growth will be influenced by several factors. One of them being the growing popularity of digital commerce, with financial institutions demanding the use of Internet and mobile banking applications with better authentication.
Additionally, news from a recent meeting of Samsung shareholders indicated their interest in looking into different methods of biometric technology for smartphones.
Soon, all of the smartphone models available will be equipped with some type of biometric authentication technology.
The adaptation of costs will be a key point for the development and commercialization of this technology.