Ta-ta to passwords and PINs; faces and fingerprints to rule the future
Facial and fingerprint recognition technologies are expected to see accelerated growth over the next five years as security applications emerge in the government, enterprise, finance, consumer and other markets.
The market value of facial recognition technologies is expected to nearly double from $230 million in 2015 to $450 million in 2019; that represents a compound annual growth rate (CAGR) of about 18%, according to market research firm TrendForce.
Led by Apple’s iPhone juggernaut, unit shipments of fingerprint sensors have grown from 316 million in 2014 to 499 million last year and will continue to increase each year to peak at 1.6 billion in 2020. Revenue growth for fingerprint sensors will increase from about $1.86 billion in 2015 to $2.6 billion in in 2020, according to the latest research from IHS Technology.