A new ABI Research report has projected the biometric security and surveillance industry to reach $26.8 billion in revenues by 2020.
The report notes that biometric technologies have begun to attract consumer and banking markets in addition to strong market adoption in law enforcement and government applications, ABI Research said Thursday.
ABI Research also reports near-infrared iris recognition technology is seeing growth in smartphone applications and enterprise access control.
The market research firm also observes “less than satisfactory deployments“ of biometric technologies resulting from varying end-user requirements and limitations.
“We see companies not initially getting the expected [return on investment] because of the combination of modality-application-vertical they chose to employ,“ said Dimitrios Pavlakis, research analyst at ABI Research.
The report profiles Saffran Morpho, 3M-Cogent, NEC and Crossmatch Technologies, Qualcomm, Fujitsu, MasterCard, VKansee, HRS, Booz Allen, EyeVerify and Google as among the tier-one market vendors.