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Biometric Growth Predicted to Continue

January 22, 2019

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A couple of new reports have suggested biometric growth is set to continue in the next few years. New technology and forms of biometrics continue to develop, helping to maintain the industries continued growth, but is it the main reason?

Biometric Growth Predicted to Continue

Biometric growth down to security

According to Technavio and its new report on the biometric market, it is the need for improved security that is driving the continued growth of the biometric market more than anything else. It predicts the global biometrics market will have a CAGR of over 15 per cent from 2019-2023.

Global security threats and increased crime is growing the need for surveillance and security solutions for law enforcement agencies, stadiums, airports and banks for example.

Take Singapore’s OCBC Bank for example. It has just added facial recognition technology to its mobile banking to go along with its fingerprint solutions.

The growth of different types of biometrics are what is also helping the industry stay strong. Another study by Allied Market Research for example just recently predicted the behavioural biometrics market is set to have incredibly strong growth, a CAGR of 23.7 percent from 2018-2025.

Why we continue to see biometric growth

Year after year, biometric growth continues. And year after year, it doesn’t surprise us here at BioStore. The convenience and security of biometric solutions make them incredibly attractive to both organisations and their end-users.

We see every day how biometric solutions let organisations run smooth and simple operations, all while enhancing and improving security to levels previously unreached.

With biometrics you ensure the identity of the people using your system far more strongly than you do when using a smartcard of passcode. In schools and offices, those benefits can be invaluable for keeping workflow high and frustration low when the same biometric authentication controls access to a range of services. Because even though security is the main bonus, the ease of using such systems is what users will appreciate every day. When you use fingerprint solutions of the like we offer here at BioStore, workers or students’ ability to get around your organisation is made seamless. Find out more.

Planet Biometrics: Technavio expects 15% growth in biometrics market

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