RNCOS, a consulting firm, has announced it expects the financial sector to be a potential driver of biometric technology adoption in the global market.
The reposts stated that biometrics will be used to fight fraud the the industry will see a compound annual growth rate of 18% for the global biometrics market through 2012.
Other projections covered in RNCOS’s report include expectations for the different modes, such as facial recognition, fingerprint recognition, iris recognition, hand geometry and voice recognition. The report also looks at the use of biometrics in different regions, such as North America, Asia-Pacific, Europe, Middle East and Africa and South America.
Among these, North America and Europe have previously led the regions in biometric adoption, but Asia-Pacific and Middle East and Africa are expected to climb closer to the other two.