Report: Biometric Smartphone Market Rising Dramatically, 10-Fold Increase in 2 Years
Acuity Market Intelligence analysis indicates nearly one billion biometric smartphones are currently in use, representing 40% of the global smartphone market.
DENVER – The quarterly average price of a biometric smartphone decreased from $849 in Q1 2013 to $276 in Q4 2016, according to mobile market research firm Acuity Market Intelligence. There are now 120 sub-$150 models on the market at an average price of $116, up from just 28 a year ago at an average price of $127.
According to the research firm’s 2017 edition of the “Biometric Smartphone Update”, 87 smartphone vendors introduced 346 biometric smartphones in the past year. This brings the total number introduced since 2013 to 549, more than double the 200 models Acuity reported a year ago.
“The proliferation of biometric smartphones is extraordinary. The 500 models currently available represent a ten-fold increase in two years,” says Maxine Most, principal, Acuity Market Intelligence. “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.”
Acuity analysis indicates nearly one billion biometric smartphones are currently in use representing 40% of the global smartphone market. Acuity expects this to grow to 100% of the two billion smartphones shipped annually within two years reaching 100% installed base penetration by 2022.
READ NEXT: Why It’s Time to Buy-In to Biometrics
During 2014, 28 biometric smartphone vendors, most with single offerings, defined the market. Today, of the 87 vendors offering biometric smartphones, more than 30 offer at least six models and market leaders ZTE, Huawei, Lenovo, Samsung and Xiaomi have each introduced at least 20 models.
“This unprecedented growth supports Acuity’s assertion that within two years, biometrics will be as ubiquitous on smartphones as high resolution cameras are today,” says Most.
“Acuity is confident the market will achieve the 100% biometric smartphone penetration originally forecast for the end of 2018 in Acuity’s Global Biometrics and Mobility Report,” Most says. “This will not only fundamentally change the dynamics of the smartphone market but create a truly global platform for biometric authentication.”
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!