Human-Computer Interaction

[New] 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.
The use of biometric technology, such as facial recognition, fingerprint ID, and voice biometrics, will rise in 2020.
More recently, the Department of Homeland Security unveiled its Biometric Exit plan, which aims to use facial recognition technology on nearly all air travel passengers by 2023, to identify compliance with visa status.
Despite the prediction that the global biometrics market will grow to over $24 billion by 2023, only 30% of that growth market will come from North America.
The size of the global biometrics market is expected to grow by around 20% a year for the next five years and technology experts believe biometrics will soon make documents such as passports as thing of the past.
The value of mobile payment transactions authenticated with biometrics is projected to shoot up between now and 2023, with more than two-thirds of global shoppers willing to use biometrics to secure their payment transactions.
The Global Biometrics in Government Market is expected to reach USD16252.2 Million by 2025 at a CAGR of 17.09% during the forecast period.
The global biometrics market will grow to $24.26 billion through 2023, double the predicted growth of small drones, and transform nearly every industry.
By 2022, 70 percent of enterprises that use biometrics for authentication will do so with smartphone apps.
The global facial recognition market was valued at USD 4.4 billion in 2019, and it is projected to be valued at USD 10.9 billion by 2025, registering a CAGR of 17.6% over the forecast period, 2020-2025.
The total biometric device market is expected to reach US$ 28.2 billion in 2020, with the government and security market taking a significant hit of US$ 1.1 billion.
The facial recognition market is expected to grow at a combined annual growth rate of 12.5% for the forecast period 2019 to 2024.
Clearview AI can be an indispensable tool to reinforce national security, but there are many risks associated with the use of facial recognition technology that the EU might be better equipped to deal with than the US.
Juniper Research pinpointed the use of biometrics, including fingerprint and facial recognition as a notable emerging trend, predicting that mPOS devices that incorporate biometric authentication could comprise 4% of terminals by 2023.
The European Commission has promised regulation on facial recognition technology in 2020, which could mean Britain having to defer to European leadership on a significant technological challenge at the very moment it is untangling itself from the European Union.
Gartner predicts that by 2022, 60% of large and global enterprises, and 90% of midsize enterprises, will deploy passwordless verification methods such as biometric authentication in more than 50% of use cases - up from 5% in 2018.
Amazon and other big e-commerce companies are expected to roll out their version of facial recognition for payments in 2020.
The global market for automotive biometric identification is expected to reach $30 3M by 2024, with a compound annual growth rate of nearly 17%.

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Last updated: 09 August 2020