The use of facial-recognition software is about to become much more widespread. MasterCard is set to launch a pilot using the technology, while a new report predicted the number of devices with facial-recognition software will rise from 28.5 million in 2015 to more than 122 million by 2024.
The marketing intelligence research firm Tractica also expects the annual revenue for facial biometrics to grow by 22% annually, to more than $880 million over the next nine years, according to a report in VentureBeat.
“Adoption of facial recognition will be particularly strong during the next several years in mobile-device authentication, but areas of growth will also include government applications, such as national ID cards and biometrics passports, as well as finance/banking and retail applications,” the authors of the report wrote.
The MasterCard pilot is aimed at finding ways for shoppers to use biometric scans or voice recognition to verify their identity for purchases. According to reports, MasterCard is working with several hardware and software companies on the project, along with two banks.