Biometric Smartphone Market Exploded in 2016
2-21-2017
The biometric smartphone market is red hot, according to the 2017 edition of “Biometric Smartphone Update” by Acuity Market Intelligence, a technology strategy and research consultancy. The study reports that 87 smartphone vendors introduced 346 biometric smartphones last year, for a total 549 introduced since 2013. This firm also says that roughly 1 billion biometric smartphones—40 percent of the global smartphone market—are currently in use.
“The proliferation of biometric smartphones is extraordinary. The 500 models currently available represent a tenfold increase in two years,” said Maxine Most, principal, in a press statement. “Biometric smartphone growth will continue as mobile application security, particularly for financial services, requires biometric authentication, low-cost sensors drive down the cost of biometric integration, and consumers demand an end to password- and PIN-based security.”
Within two years, Acuity predicts biometric smartphones will reach 100 percent market penetration.
“This will not only fundamentally change the dynamics of the smartphone market but create a truly global platform for biometric authentication,” said Most.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
