News about Forecast.
November 27th, 2015
Bluetooth low energy (BLE) beacons and proximity marketing solutions will drive US$7.5bn in spending by millennials in the US this holiday season, research from beacon network inMarket predicts. “In 2015, the top five product categories to benefit from in-store proximity engagements were deli items, over the counter medication, wine and spirits, non-alcoholic beverages and snacks,” the company adds.
November 27th, 2015
German retail giant Otto Group is to close down its Yapital mobile payments service due to the “highly competitive but slow-developing digital payment business”. Yapital is to remain active as an e-money institution in the business-to-business (B2B) market,…
November 24th, 2015
Smartwatches will be used to access banking apps 10m times in 2017, rising to more than 100m times by 2020, Juniper Research predicts. “While wearables, including smartwatches and glasses, are not suited for conducting complicated financial instructions, wrist-based wearables will become a key device for multi-factor authentication,” the company says.
November 18th, 2015
A total of 490m NFC secure elements will be shipped in 2015, up 40% on the 350m shipped in 2014, smart security industry association Eurosmart reports. A total of 590m units is expected to ship in 2016, up 20% on 2015.
November 17th, 2015
The inclusion of biometrics in mobile devices will generate US$9bn in revenue by 2018, a report by Biometrics Research Group predicts. “Worldwide revenues within the mobile biometrics sector will total US$45bn by 2020 and 650m people will be using biometrics on mobile devices by the end of 2015,” the company says. “Biometric smartphones will increase tenfold from 200m users in 2015 to 2bn users by 2020.”
November 13th, 2015
More than one million consumers have downloaded BBVA’s host card emulation (HCE) mobile wallet since it launched in June 2014. The Spanish banking group is now expanding the service to Turkey and expects more than…
November 10th, 2015
The market value of biometric identification for financial services applications will increase from US$123m in 2015 to US$657m in 2019, research from TrendForce predicts. “The significant growth is mainly driven by innovations within the global finance industry,” the company says. “Among regions, Asia Pacific has the largest growth potential, followed by Europe.”
October 26th, 2015
The total value of mobile payment transactions in the US will grow 210% in 2016 and nearly one in five smartphone users will make a mobile payment in a store next year, eMarketer’s latest proximity mobile payments forecast predicts.
October 26th, 2015
EMV will become irrelevant in three to five years’ time and NFC will take over, Khosla Ventures founder Vinod Khosla has told attendees during a keynote at Money20/20. “All these backroom boys agreed on something…
October 21st, 2015
US consumers will use their smartphones to make mobile payments at the point of sale five times a week by 2018 and, by 2020, 20% of POS transaction volume will be conducted via mobile devices, research from Carlisle & Gallagher Consulting Group reveals. “Mobile will account for at least 60% of US digital commerce revenue by 2020,” the company adds.
October 16th, 2015
Nearly a third (32%) of retail establishments in the US will accept contactless EMV card payments by 2019, Javelin forecasts. “In the next wave of card issuance, Javelin believes the speed and convenience offered by contactless EMV cards could be instrumental in gaining top-of-wallet status, as well as attracting and retaining more affluent customers,” says the research firm’s Michael Moeser.
October 13th, 2015
More than 1bn mobile phone users will have used their devices for banking purposes by the end of this year, Juniper Research predicts. “This global user base is forecast to reach 2bn by 2020, by which time it will represent 37% of the global adult population,” the researchers add.
October 5th, 2015
Shipments of fingerprint sensors for smartphones are expected to reach 1bn units by 2020, representing a 17% compound annual growth rate (CAGR), according to ABI Research. “Other biometric modalities like face, voice and eye-based recognition are currently moving out of the fledgling phase and are to be integrated as highly-secure — albeit more expensive — biometric capabilities in smartphone devices with a five-year CAGR revenue growth of 144%,” the company says.
September 23rd, 2015
India’s mobile wallet market will be worth US$6.6bn by 2020, research from TechSci Research reveals. “The mobile wallet market in India is projected to exhibit exponential growth during the forecast period on account of rising smartphone penetration rate, growing mobile internet user base and increasing government support,” the company says. “Mobile wallet companies operating in India are also offering attractive deals and incentives to attract new users.”
September 1st, 2015
India’s biometrics market is projected to grow at a compound annual growth rate (CAGR) of over 35% from 2015 through 2020, according to TechSci Research. “Fingerprint biometrics is the largest market segment in terms of revenue contribution, followed by iris and facial recognition,” the company says. “Voice recognition is the fastest growing segment on account of rising application in banking and integration in handheld devices.”
August 27th, 2015
The worldwide biometrics technology market will grow from US$2bn in 2015 to $14.9bn by 2024, research firm Tractica predicts. “During that period, Tractica forecasts that cumulative revenue will total $67.8bn,” the company says. The ‘Biometrics Market Forecasts’ report is based on a comprehensive 10-year market forecast for biometrics hardware and software from 2015 to 2024.
August 26th, 2015
More than 620m mobile banking apps that support biometrics for customer authentication and transaction verification will be downloaded by 2020, research from Goode Intelligence predicts. “Additionally, almost 160m wearable devices will be benefiting from seamless biometric authentication for accessing banking services on a variety of wearables, including smartwatches and bands,” the company says.
August 26th, 2015
August 24th, 2015
About US$1tn will be spent using mobile payments services in 2017, up 124% from less than US$500bn expected in 2015, International Data Corporation says. “Asia/Pacific markets will contribute to this growth greatly as mobile commerce transactions with remote payments take off across the region,” the company predicts, adding the region is “expected to lead the world in mobile payment developments”.
August 3rd, 2015
More than 25% of the world’s population will use mobile banking in the next four years, research from KPMG using data from UBS Evidence Lab reveals, predicting the number of users will double to 1.8bn. “Mobile banking is clearly supplanting all other channels as the main portal between the bank and the consumer,” says KPMG’s David Hodgkinson. “Banks must adapt or die.”