The global biometrics market has been recently developing rapidly, and this trend will continue shortly. If in 2018 its volume was estimated at $23.4 billion, according to the forecast of the analytical company BCC Research, the market size may increase to $71.6 billion with an average annual growth rate of 23.2 % by 2024.
Fingerprint scanning, facial recognition, iris, vein, and voice technologies are expected to be implemented at the fastest pace. The analysis is based on the revenue indicators of key players depending on segments, including hardware, software, and integration.
Biometric electronic documents
Another analytical Agency, Acuity Research, estimates that the number of biometric electronic IDs will increase by about 3.5 billion electronic documents in the world. Moreover, more than half of the UN member States issue biometric passports.
Government and private contracts of Canada, the United States, Belarus, Ukraine, Moldova, Lithuania, Hungary, Bangladesh, Senegal, and other countries are examples of implementation of programs for the transition to biometric electronic documents. Government organizations in various countries believe that biometrics is one of the most effective ways to identify refugees and those who cross the border. Now there are a lot of projects which are based on biometric technology.
Biometric identification system
Perhaps one of the most ambitious is the Aadhaar project being implemented in India
Perhaps one of the most ambitious is the Aadhaar project being implemented in India. It is a biometric identification system that contains the data of more than a billion people. The database contains about 10 billion fingerprint templates, two billion iris templates, and a billion photos.
There is another ambitious project at the Nairobi Jomo Kenyatta International Airport, where RecFaces company has implemented a passenger facial identification ready-made solution, that helps the security guards to receive notifications about airport visitors in just a few seconds and increase the efficiency of security services at least by 30%. The introduction of biometric identification of passengers aimed at increasing the level of airport security, as well as quickly obtaining information about the detection of wanted persons, stored in the long-term archive.
Automated control gates
As another example, face match is used at border checks to compare the portrait on a digitized biometric passport with the holder's face. In 2017, Thales company was responsible for supplying the new automated control gates for the system of Automated Fast Track Crossing at External Borders at Roissy Charles de Gaulle airport in Paris.
This solution has been devised to facilitate evolution from fingerprint recognition to facial recognition
This solution has been devised to facilitate evolution from fingerprint recognition to facial recognition during. Governmental systems, SmartCity, airports projects using identification technologies day by day become our reality and influence the growth of the biometrics market globally. Countries are studying the experience of each other and adopting it.
Paperless payment technologies
The global market of biometrics will shift all industries, starting from the transportation facilities especially airports, where a transition from traditional VMS and ACS to paperless biometric self-Boarding systems will be carried out.
Sports facilities will see the development of paperless payment technologies at cash desks, and the banking sector — the payment systems with remote customer identification. HoReCa will transfer from staff time tracking systems to biometric payment systems, biometric check—in systems and the use of biometric identifiers. To sum up there are two most significant drivers of this growth are surveillance in the public sector and numerous other applications in diverse market segments.