What is the market potential in our target markets?
Biometrics Research Group Inc. estimates the global biometrics market will grow to US$55.5 billion by 2025 from its projected 2020 value of US$35.5 billion.
Goode Intelligence forecasts that almost 579 million biometric payment cards will be in use around the world by 2023 to enable frictionless customer authentication for higher-value contactless card transactions.
WiseGuyReports notes that the global market for biometric authentication and identification was valued at US$11.76 billion in 2015 and is expected to grow to US$25.31 billion by 2020 with compound annual growth rate (CAGR) of 16.56 percent.
Allied Market Research is doubling down on its previous prediction that the global biometric sensor market will reach $1.92 billion by 2025. That figure represents a CAGR of 9.3 percent, based on a 2017 market valuation of $944 million.