Interface-focused market intelligence firm Tractica has predicted that revenues for mobile biometrics device and software will reach US$3.5 billion by 2024 from a base of $249 million in 2015.The firm says growth in the market will accelerate because biometric technologies are becoming an increasingly integral part of mobile devices. “Biometrics for mobile devices has finally reached a tipping point,” says principal analyst Bob Lockhart. “Smartphones and tablets finally have enough processing power and hardware capabilities to put biometrics directly into their users' hands. “Tractica forecasts that cumulative revenue for mobile biometrics device and software for the 10-year period will total $17.5 billion.According to Lockhart, the two primary industries that will drive growth in the mobile biometrics market are finance and government.”For finance, the online banking use cases are one driver. ߪ Other key addressable markets include healthcare, where biometrics can authenticate caregivers and identify patients, and contact centers, where voice authentication of customers can be utilized by just about any industry”.
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