Swedish fingerprint specialists Precise Biometrics have reported that sales grew 73% last year to SEK 97.2million ($10.7m) in comparison to 2015, in an annual report.
In other events, the company signed 14 licencing agreements, agreed to acquire NexID and the company’s mobile fingerprint software, Biomatch Mobile, was integrated into 110 devices.
Meanwhile, other noteable successes included the inclusion of the software into a card.
Håkan Persson, CEO at Precise Biometrics, said in the report: “We have strengthened the company's position as the leading supplier of fingerprint software and created good conditions for continued growth in a market that is expected to quadruple by the year 2020.”
“2016 was an eventful year in which we made major prog-ress in the fingerprint technology market. We increased net sales by 73 per cent to SEK 97.2 million and led the company into profitability. We have strengthened our position in a fast-growing market, developed our range of products and acquired many new customers who are important players in the ongoing development of the biometrics market.”
He also noted that sales in the Fingerprint Technology business area grew by 96 per cent and are the basis of the company's growth.
“Most analysts believe that the total market for fingerprint technology will quadruple and total at least 2.5 billion devices by the year 2020.0f this total volume, at least 1.2 billion devices are expected to come from new product areas”, he said.