Consumer electronic biometrics market is expected to witness significant growth over the next seven years on account of increasing demand of biometric technology in consumer electronics segment. Increasing application of biometrics for the purpose of better security has also emerged as one of the major growth driver in this market.
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Growing application of biometrics in consumer electronics such as fingerprint and facial recognition has been integrated with electronic devices such as laptops, mobiles and other smart handheld devices. In addition, biometrics are being used in government operations, patient management and for several other purposes. Mobile Phone industry is expected to account for the largest share in biometrics for consumer electronics market. Apart from this, corporations focusing on identity verification and device security are influencing growth over the past few years.
The major end-users for this market include mobile phone, PCs, laptops, car locking systems, gaming consoles and TV remote controls. Rising demand for convenience, availability and reachability of embedded biometrics is expected to be another major factor in driving adoption of biometrics in consumer electronics. Integration of biometrics with consumer electronics, coupled with its high cost is expected to have a negative impact on growth. Furthermore, lack of standardization is expected to hamper the market growth over the next seven years.
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The key strength of this market is its uniqueness, convenience and security. Biometrics are responsible for considerably reducing calls on account of a pre enrolled authorized user access. This helps in developing convenience and security for consumer simultaneously. Mobile payments are going to experience significant growth over the next few years owing to security, which is a primary concern these days. Adoption of biometrics will ensure high security in mobile payments. This is expected to influence growth over the next few years. This market is expected to have strong impact on factors such as connectivity, convergence, health, wellness and well-being. Wide scale adoption of this technology is expected over the next few years.
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