The biometrics market is expected to unlock $13.5m in global revenues this year, driven by increased security demands of government entities in Europe and the US.
Research from ABI Research said government spending on biometric recognition technology is increasing worldwide and will continue to do so up until late 2016 or early 2017.
The research firm put the growth down to growing terrorist threats in the EU and United States, as governments intensify their security measures.
However, the report predicted that consumer and enterprise spending would catch up with governments in late 2017, exceeding $8m in total revenues by 2018.
The growth would be driven by enterprises looking to add biometrics into their wearables and smartphone devices.
Tech giants like Apple and Samsung are leaders for their use of modality biometric systems in mobile devices, the report said, while 3M Cogent, MorphoTrak, and NEC Corporation are leading the biometrics space altogether.
The report also pointed to fingerprint recognition technology as the most commonly used, albeit not the most accurate, biometric recognition technology.
This is partly due to the existing infrastructure that can support AFIS and non AFIS technology, as users gradually accept the use of fingerprint technology to identify themselves.
