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Forecast

News about Forecast.

$14.9bn biometrics market by 2024

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.

620m biometric app downloads by 2020

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.

NFC chip market to rise 50.6%

August 26th, 2015

The global NFC chip market will grow at a compound annual growth rate (CAGR) of 50.6% by volume over the period 2014-2019, analysts from market research firm Technavio predict in the company’s ‘Global NFC Chips Market 2015-2019’ report.

Mobile payments market to reach US$1tn by 2017

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”.

25% of world’s population to use mobile banking in four years

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.”

Deloitte predicts surge in UK NFC payments

July 13th, 2015

More than one third of UK consumers aged between 18 and 34 (34%) are interested in mobile payments alongside one fifth of 55- to 75-year-olds (20%), research from Deloitte has revealed. “We are reaching an inflection point for NFC-enabled mobile payments in the UK,” says the company’s Ed Marsden. “We expect usage of contactless mobile payments could surge.”

Fingerprint sensor market to grow at 17% CAGR

July 6th, 2015

The fingerprint sensor market is expected to grow at a CAGR of 17% between 2015 and 2020, research from MarketsandMarkets has found, with its value projected to reach US$14.5bn by 2020 from $5.5bn in 2014. “In terms of shipments, the market is projected to reach $10bn by 2020 at CAGR of double digits between 2015 and 2020,” the research team adds.

NFC smartphone sales up 55% year on year in 2015

June 30th, 2015

Global NFC-enabled smartphone sales will grow more than 55% year over year in 2015, research from Strategy Analytics has found. “The growth rate is far above overall smartphone growth rate of 16% in 2015,” it says. “Asia Pacific remains the largest market for NFC smartphones, while North America has the highest NFC smartphone penetration until 2020.”

2.2bn NFC-enabled handset shipments by 2020, IHS Technology predicts

June 30th, 2015

Shipments of NFC-enabled handsets will increase to 756m in 2015, up from 444m last year, rising to 2.2bn by 2020, IHS Technology has forecast. The research firm adds NFC is “finally coming of age and… More

US$2.7tn mobile wallet market by 2020

June 30th, 2015

The global market for mobile wallets will reach US$2.7tn by 2020, “driven by the proliferation of smartphones, tablets, mobile internet, strong governmental support for cashless transactions and the convenience offered by mobile payments,” Global Industry Analysts says. “Asia Pacific represents the largest market, with a CAGR of 33% over the analysis period,” it adds. “The retail sector represents the largest end-use for mobile wallets.”

Gemalto predicts fast uptake of Apple Pay in the UK

June 15th, 2015

PARTNER NEWS: The prevalence of EMV in the UK, lower interchange fees and the existing contactless infrastructure will lead to faster adoption of Apple Pay in the UK than in the US, Gemalto’s Rémi de Fouchier forecasts. “We’re predicting that the number of users in the UK after six months will be comparable to the number of users the US had after a year. The UK should also have a better percentage of usage.”

1bn biometric banking consumers by 2017

June 2nd, 2015

More than 1bn consumers globally will be accessing banking services through biometric systems by 2017 and biometrics will become the predominant method of identification for accessing bank services by 2020, Goode Intelligence predicts. “We are forecasting that by 2020, it will contribute US$5.5bn in revenue for companies involved in delivering biometric systems to the banking industry,” the company adds.

Mobile payment market worth $2.8tn by 2020

May 27th, 2015

The global mobile payment transaction market will be worth an estimated US$2,849bn by 2020, up from US$392bn in 2014, representing a compound annual growth rate (CAGR) of 39.2%, Future Market Insights has revealed. NFC is expected to exhibit the fastest CAGR (46%) of major mobile payment transaction technologies during the forecast period. Asia Pacific dominated the market with 38% market share in 2014 in terms of users, and is expected to account for a 37% share by 2020.

UK cash payments fall to 48%

May 22nd, 2015

The total number of cash payments made by consumers, businesses and financial organisations in the UK fell to 48% last year, marking the first time that non-cash payments have exceeded those made with cash, the Payments Council reports. Some 52% of consumers continued to use cash for more than half of their transactions in 2014, however, and “there is no prediction for cash to disappear”.

Four in ten UK consumers willing to switch banks for mobile payments

May 22nd, 2015

Some 44% of UK consumers are prepared to switch bank accounts to access mobile payments if their current bank is unable or has no plans to offer the service, while a third (33%) of these consumers… More

Icahn: Apple Pay to generate US$3.3bn in revenues in 2017

May 19th, 2015

Apple Pay will generate revenues of US$263m this year and that figure will increase to $3.3bn by the end of 2017, billionaire investor Carl Icahn has forecast. In an open letter to Apple CEO Tim… More

US mobile payments to hit $487bn

May 15th, 2015

US mobile proximity payments will rise to US$487bn gross dollar volume (GDV) by 2020, up from $7.5bn GDV this year, Aite Group forecasts. “While mobile proximity payments will grow quickly as NFC distribution becomes universal and customers begin to use the platforms,” says author Thad Peterson, “mobile commerce will drive more transaction volume than mobile proximity payments in the next five years.”

Global biometrics market to hit $14.9bn by 2024

May 15th, 2015

The global biometrics market will increase from US$2bn in 2015 to $14.9bn by 2024, with cumulative revenue for the 10-year period reaching $67.8bn, market intelligence firm Tractica forecasts. “Biometric modalities that are likely to generate the most revenue include fingerprint, iris image and voice recognition,” the company says. “Key use cases include consumer device authentication, mobile banking, ATMs, government IT systems, POS transactions, pharmacy dispensing and wearable device authentication.”

US in-store mobile payments to hit $54bn by 2019

May 11th, 2015

Mobile proximity payments — those made by consumers at the physical point of sale using a mobile device — in the US will total US$54bn by 2019, Javelin Strategy and Research has projected. Today, mobile proximity payments make up 1% of all retail transactions says Javelin, with almost one in six iOS smartphone owners making a proximity purchase within a 30 day period, nearly double the rate of Android smartphone owners.

Chip and PIN faces slow take-up in US, says Forrester

May 1st, 2015

EMV payments on plastic cards won’t achieve broad adoption in the US until 2020, Forrester Research predicts, due to the rise of “more secure” mobile and contactless payment alternatives. “Forrester expects that more secure, encrypted and tokenized transactions on digital wallets, mobile device-based NFC virtual cards and EMV contactless payments will prove strong competitors to plastic EMV chip and signature and chip and PIN payments in the US,” the company says.

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