Mobile biometrics is becoming one of the fastest growing business niches in the history of technology (see post From Airports to Baseball, The Future of Biometrics). In the next five years, i.e. until 2023, its growth forecast will represent a 2,500% increase in sales volume associated with fingerprint or face recognition security.
According to Juniper Research, a consultancy firm belonging to Juniper, a high-performance network solutions company, there will be an increase of more than 80% in the implementation of biometric hardware in smartphones by 2023, which represents over 5 billion smartphones. It would cover a market of two trillion dollars generated thanks to mobile biometrics, including mobile payment transactions or online purchases.
Biometrically verified remote e-commerce transactions will be the spearhead of this trend, reaching more than 48,000 million in volume by 2023. This means around 57% of all biometric transactions, compared to the 28% estimated in 2018.
The same study reports that the vast majority (90%) of smartphones nowadays can support facial recognition based on software. In addition, the research says that more than 1.5 billion smartphones will be using software-based biometric data by 2023.