The trajectory of biometric measurements points towards continued expansion in the upcoming years, with expectations for increased ubiquity across a spectrum of applications. These encompass personal verification, identity confirmation, fortifying data security, surveillance, banking services, and healthcare.
Several pivotal trends are poised to define the future landscape of biometric measurements. These include a shift towards behavioral biometrics, the integration of comprehensive biometric measures, and the ascendancy of mobile biometrics.
Given the swift pace of technological advancements, particularly in recent years, the use of biometric measurements has transcended criminal identification systems to permeate a myriad of industries and everyday functionalities. Estimates from 2020 underscored that 80% of active phones in North America, Western Europe, Asia, and the Pacific were equipped with integrated biometric authentication systems.
Statista reports the market value of digital identity solutions at around $28 billion in 2022, with projections exceeding $83 billion by 2028. The global market value of biometric measurement systems was estimated at approximately $43 billion in 2022, and the market is anticipated to burgeon, reaching $83 billion by 2027.
Automated fingerprint recognition systems recorded a market value of $5.32 billion in 2022, and projections anticipate an ascent to $15.42 billion by 2028. The iris recognition market achieved an estimated value of about $4 billion in 2022, with expectations to surpass $8 billion by 2027.
The facial recognition market attained a valuation of $5 billion in 2022, and future forecasts posit growth to $19.3 billion by 2032. The global voice recognition market is poised for substantial growth, surging from $10 billion in 2020-2021 to nearly $50 billion in 2029.
In summation, the landscape of biometric measurements is in continual evolution, expanding its utility across diverse industries and applications. Ongoing advancements in computing and biological analysis continue to shape the trajectory of this technology. Future prospects may involve the emergence of advanced biometric measurements such as AI-based biometrics, scent recognition, heartbeat pattern recognition, and DNA signatures.
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