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That’s the latest projection from ABI Research, which says governmental budgetary restrictions, a shift in commercial investments and hygiene are to blame.
NEW YORK — Global fingerprint biometric device revenues are expected to fall 22%, or $1.8 billion, to $6.6 billion in 2020 due to the ongoing coronavirus pandemic, according to a recent report from global tech market advisory, ABI Research.
The entire biometrics market, however, is forecast to regain momentum in 2021 and is expected to reach approximately $40 billion in total revenues by 2025.
Dimitrios Pavlakis, a digital security industry analyst at ABI, explains the current decline in the biometrics market landscape stems from multifaceted challenges from a governmental, commercial and technological nature. In a press release he comments:
“First, they have been instigated primarily due to economic reforms during the crisis which forced governments to constrain budgets and focus on damage control, personnel well-being, and operational efficiency. Governments had to delay or temporarily cancel many fingerprint-based applications related to user/citizen and patient registration, physical access control, on-premise workforce management, and certain applications in border control or civil, welfare, immigration, law enforcement, and correctional facilities.
Second, commercial on-premise applications and access control suffered as the rise of the remote workers became the new norm …
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