Biometric authentication market to focus on banking and consumer electronics, study suggests

The biometric authentication market will likely focus on opportunities in the consumer and banking sectors by 2021, market research company ABI Research has recently forecast.

The research paper points out that consumer and banking segments will experience 19% and 12% growth rates, respectively.

The research finds that enterprises are focused on employee authentication, as is the consumer sector on smartphones. The integration of fingerprint technology in smartphones will lead to the disruptive growth of the current consumer landscape.

ABI Research forecasts that fingerprint sensor shipments will hit close to two billion by 2021, accounting for an overall growth rate of 44%.

The increase will result in biometrics becoming particularly relevant in the automotive, data management, healthcare and telemedicine, smart home, and wearables IoT market segments.

“After establishing a foundation in smartphones and user authentication, the biometrics market is branching out and entering the evolving IoT ecosystem,” says Dimitrios Pavlakis, Industry Analyst at ABI Research.

“The revenue shift will happen as the market focuses on consumer devices and securing more investment from mobile and computing device OEMs, as well as large banks and credit card companies.”

Tensor – the go-to company for deploying a secure and reliable biometric authentication system

Tensor has an extensive level of experience in the field of biometric time and attendance systems, so it can help you install the most secure and reliable biometrics equipment, while in the same time keeping within your set budget for this task.

We offer a range of biometric fingerprint readersdesigned specifically for those who want peace-of-mind, certainty and the assurance that only the right people can gain access to your sensitive or dangerous areas.

These biometric time and attendance systems come packed in a very elegant and stylish case, while in the same time being extremely easy to use. Plus, they’re very easy to interconnect with our proximity card access scanners, allowing users to mix fingerprint reading and non-fingerprint reading scanners on the same security network.

If you’d like to find out more about the biometric time and attendance systems supplied by Tensor, just contact our dedicated product team or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.