Biometric m-commerce revenues to reach '$33.3 bn by 2020'
27 January 2015 11:04 GMT

Acuity says that by 2020, 100% of smart mobile devices will include embedded biometric sensors.

Research group Acuity Market Intelligence has estimated that the revenues generated by biometric mobile payments will reach $33.3 billion by 2020.

The mobile biometric marketplace is more complex, broadly based, and growing faster than previous forecasts indicated, said the firm in a statement, adding "Mobility is the driving force that will unleash the long awaited biometric revolution".

The group said the $33.3 billion estimate includes 4.76 billion biometrically enabled smart mobile devices generating $6 billion in biometric sensor revenue and 4 billion biometric app downloads generating $20 billion in annual revenues from direct purchase and software development fees. There will also be 825 billion biometrically secured payment and non-payment transactions by 2020, generating $6.8 billion in authentication fees.

“Biometrics are a natural fit for the smart mobile devices we literally hold onto nearly every waking hour”, said Maxine Most, principal at Acuity Market Intelligence. “By 2020, 100% of smart mobile devices will include embedded biometric sensors as a standard feature.”

“Biometric apps for mobile devises don’t really gain market traction until 2017, but once they do, they take off and dominate segment revenue share”, wrote the firm.

In a Market Research Brief, Acuity predicts that the number of mobile biometric devices in the market will grow at a compound annual growth rate of 76% towards 2020. Meanwhile, the mobile biometric transaction volume will rise at a CAGR of 177%.