Markets and Markets Research expects the biometrics market to nearly double in five years, from an estimated value of $42.9 billion in 2022 to $82.9 billion by 2027.
Security has become a pressing concern for many smartphone users, which has led manufacturers to focus more heavily on features to enhance consumer security, in particular biometric technology—using facial structure or fingerprint for authentication. Markets and Markets Research expects the biometrics market to nearly double in five years, from an estimated value of $42.9 billion in 2022 to $82.9 billion by 2027.