Juniper Research: 1.4 billion people will use facial recognition in 202522. April 2021
Juniper Research: 1.4 billion people will use facial recognition in 2025
New York, 4/22/2021
A research firm predicts that 1.4 billion people worldwide will use facial recognition for digital payments by 2025, up from 671 million last year. Juniper Research cited Apple’s Face ID and fraud concerns as catalysts for facial recognition in smartphones.
The 120% growth represents facial recognition on 27% of all smartphones. More front-facing cameras, better software and lower barriers to entry have contributed to the increase, according to Juniper.
Juniper predicts that facial recognition, fingerprints and voice authentication will authorize $3 trillion worth of transactions worldwide by 2025.
Juniper predicts that 704 million people will confirm transactions (primarily banking) using voice recognition, up from 111 million in 2020.
The company emphasized the difference between software-based and hardware-based facial recognition. The former requires only the right software and a front-facing camera, while the latter (including Apple’s Face ID) has more layers of hardware and is more secure.
By 2025, the number of smartphones using hardware-based facial recognition will increase by 376%, according to Maynard Research.