Human-Computer Interaction

• [New] In 2019, the facial recognition market was valued at $5.07 billion (US): By 2025, economists expect a $10.19 billion (US) value, calculated at a CAGR of 12.5% over a five-year span (2020-2025).
• [New] The facial recognition market was valued at USD 6 billion in 2019 and is predicted to succeed in a worth of USD 10 billion by 2022.
• In July, New York City instituted a moratorium on face recognition in schools until 2022.
• Biometrics is coming to remote payments as well, with Juniper Research predicting that mobile biometrics will authenticate over $2 trillion of sales by 2023, 57% of biometric transactions will be remote by then.
• In 2017, China had approximately 170 million CCTV cameras: An estimated 400 million new cameras, many fitted with artificial intelligence and facial recognition, are expected to be in place by the end of the year.
• The global demand for biometric technology in the payments industry is robust and will accelerate during the busy end of year shopping season and as business returns to a new normal in 2021.
• Biometrics will enable $2.5 tn worth of mobile payments by 2024, while Goode Intelligence has estimated that in 2020 over 1.1 billion people will use biometrics for mobile financial services, such as payments, accessing banking apps or customer identify verification.
• As the world of digital payments continues to evolve and expand as a result of new innovative solutions, we will see biometrics, facial recognition, voice recognition, smart vending solutions becoming more prominent in the world of payments in the coming years.
• The global demand for biometric technology in the payments industry is robust and will accelerate during the busy end-of-year shopping season and as business returns to a new normal in 2021 and beyond.
• Biometric hearables are set to make a substantial impact on the consumer, over-the-counter health, and professional medical markets with a few years, with the market for hearables with biosensors set to reach $5 bn by 2030.
• Hearables are set to make a substantial impact on the consumer, Over-The-Counter health, and professional medical markets with a few years, with the market for hearables with biosensors set to reach $5bn by 2030.
• By 2023, over $2 trillion of mobile payment transactions could be authenticated by biometric technology.
• About 90% of smartphones will have some form of dedicated biometric hardware in the next four years, enabling payment by phone, facial recognition or a thumbprint scan.
• Biometrics will enable $2.5 tn of mobile payments by 2024 - a strong indicator of the continued growth of biometrics in both smartphones and payments.
• With the global market for facial recognition predicted to grow to USD $9 billion by 2024, further clarification by the ICO and perhaps further regulation to address privacy concerns may be warranted.
• Juniper predicts that 80% of smartphones will have some form of biometric hardware by 2023, representing just over 5 billion smartphones.
• The global market for automotive biometric identification is forecast to grow from $138 million in 2019 to $303 million by 2024, a 17 percent CAGR.
• The facial recognition market is poised to grow by USD 3.35 billion during 2020-2024, progressing at a CAGR of almost 12% during the forecast period.
• Commercialization of biometric bank cards will be the next stop, with BNP Paribas already announcing that its first biometric card will debut in Autumn 2020.
• The global next generation biometrics market was valued at USD 9.61 billion in 2017, and is expected to reach a value of USD 37.65 billion by 2023, at a CAGR of 17.61%, during the forecast period (2018-2023).
• The next generation biometrics market was valued at USD 16.36 billion in 2019, and it is expected to reach a value of USD 93.88 billion by 2025, at a CAGR of 35.53%, during the forecast period (2020-2025).
• California will become the third state in the U.S. to ban facial recognition technology in police body cameras.
• The facial recognition market was valued at $4.51 billion in 2018 and is expected to reach a value of $9.06 billion by 2024.

Last updated: 17 January 2021