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 global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.
