Security News > 2020 > May > Biometric device shipments revenue to drop by $2 billion

The pandemic is expected to cause a significant pushback on biometric device shipments, creating a major revenue drop of $2 billion over the course of 2020, according to ABI Research.

At the same, the pandemic has given rise to new identification and surveillance needs, spurring further investments in biometric AI algorithm design, which will give a boost to the face recognition technologies market going forward.

"Contact biometric technologies like fingerprint and vein have been dealt a substantial blow due to new governmental regulations targeting contact and close-proximity interactions. Fingerprint biometrics vendors are struggling to uphold the new stringent hygiene and infectious control protocols."

The total biometric device market is expected to reach $28.2 billion in 2020, with the government and security market taking a significant hit of $1.1 billion.

"AI biometric firms are adapting to the biological threat. Biometric technologies are currently undergoing a forced evolution rather than an organic one, with artificial intelligence biometric firms spearheading the charge," says Pavlakis.

News URL

http://feedproxy.google.com/~r/HelpNetSecurity/~3/hu1CQ0_0EV4/