Data Driven Insight for Biometrics, Digital Identity & eIDs

Biometrics, Mobility, Digital Identity, ePassports, eIDs, Automated Border Control, eGates, Secure Documents...

Taming the Authentication Beast: Simplifying and Enhancing the Customer Journey with Biometrics in the Cloud

Posted: September 19th, 2017 | Author:

Financial service organizations that want to reap the benefits of the digital revolution to improve security, reduce friction, lower costs, and attract the most desirable customers, will adopt biometric authentication in the Cloud as the foundation for enhancing and securing the customer journey.

Biometrics are a global phenomenon that financial service players ignore at their peril. Acuity forecasts that by 2022, 5.6 billion biometric mobile devices will secure 1.37 trillion biometrically-enabled payment and non-payment transactions. On-device biometrics may improve the user authentication experience, but the big financial service payoff will come from Cloud-biometrics that also provide secure, reliable identity assurance.

Pushing biometrics to “the edge” of the financial service ecosystem, e.g. smartphones, simplifies authentication and reduces friction, but on-device biometrics can only link a user to a specific device,. Cloud-based, or server-side, biometrics simplify authentication and reduce friction while linking an individual to a Unique Verifiable Identity (UVI) that is device and platform independent, and provides a non-revocable user, not device-based, audit trail for each transaction.

 

Concerns about Cloud biometric data being vulnerable to theft and misuse have been sensationalized. Best practice approaches to deploy solutions purpose-built to secure biometrics, address data storage and management concerns. This includes anonymous storage, disaggregating biometrics from other Personally Identifiable Information (PII) – including templates from multiple biometric modalities – and installing anti-spoofing and presentation attack countermeasures.

Biometrics in the Cloud support continuous authentication via behavioral biometrics, and enable multifactor ’escalation,’ or step-up capabilities, that introduce biometric challenge and response protocols based on dynamic risk assessments. Cloud biometrics should therefore be viewed as more than just a means to enhance the customer journey, but as a path to creating an intelligent, identity-centric platform that addresses authentication risk across the entire financial service enterprise.

Acuity makes the case for Cloud biometrics in our latest whitepaper  Taming the Authentication Beast: Simplifying and Enhancing the Customer Journey with Biometrics in the Cloud.” Download the whitepaper at www.acuity-mi.com/CloudFS.php.


Filed under: Behavioral Biometrics, Biometrics, Disruption, Financial Services, Market Development, Market Insight, Mobile Biometrics, Mobility, Payments, Smart Devices, Smartphones | No Comments »

Mobile Biometric Market Forecast to Exceed $50.6 Billion in Annual Revenue in 2022

Posted: September 14th, 2017 | Author:

Acuity Market Intelligence released our updated forecasts for the mobile biometrics market. The potential for consumer use of mobile biometrics dwarfs any previous application of biometrics.

  • Annual revenue from biometrics embedded in mobile devices, biometric app downloads, and biometric transactions authentication are projected to grow from $6.5 billion in 2016 to $50.6 billion in 2022 reflecting a CAGR of nearly 41% with total forecast period revenues exceeding $193 billion.
  • More than 1.9 billion biometrically enabled mobile devices will be in circulation by the end of 2017. This will grow to an unprecedented 5.5 billion devices by 2022 as this massive, globally available platform remains the driving force behind worldwide biometric adoption.
  • By 2020, biometrics will be standard on 100% of the nearly 2.4 billion mobile devices sold each year.
  • By 2022, 98% of all mobile devices will be biometrically enabled generating 16.7 billion biometric app downloads and more than 1.37 trillion payment and non-payment mobile devices transactions that require some level of biometric authentication.

As the Equifax debacle and fallout goes viral on social media, and Apple once again redefines the biometrics landscape with the introduction of 3D FaceID on the iPhone, the casualties of inadequate digital security mount and drive demand for better identity solutions.

Mobile biometrics are just beginning to address the digital identity challenge. To date, biometrics have been widely adopted as a convenient PIN alternative for unlocking smartphones. By 2018, the introduction of hardened mobile biometric security and the emergence of Biometrics Identity Service Providers (BISPs) will shift market focus from on-device authentication to Cloud-based, server-side solutions that will begin to replace traditional digital identity schemes altogether.

For detailed forecasts and analysis of the mobile biometric market, preview and purchase “The Global Biometrics and Mobility Report” at www.acuity-mi.com/GBMR_Report.php


Filed under: Behavioral Biometrics, Biometrics, Disruption, Market Development, Market Forecast, Market Research, Mobile Biometrics, Mobility, Payments, Smart Devices, Smartphones | No Comments »

Two New WEBINARS available for replay: Behavioral Biometrics & Mobile Biometrics Landscape

Posted: April 28th, 2017 | Author:

Two NEW findBIOMETRICs Webinars featuring Acuity Market Intelligence Analysis are now available for replay:

Continuous Identity: Why Behavioral Biometrics Are Going Mainstream
April 26, 2017

From Revolution to Evolution: The New Mobile Biometrics Landscape
March 29, 2017


Filed under: Behavioral Biometrics, Biometrics, Market Development, Market Forecast, Market Insight, Market Research, Mobile Biometrics, Mobility, Smartphones | No Comments »

Biometric Smartphone Market Explodes in 2016 as Prices Plunge

Posted: February 6th, 2017 | Author:

500 models from 87 vendors, 120 for $150 or Less 

Acuity Market Intelligence’s latest research finds that 87 smartphone vendors introduced 346 biometric smartphones in the past year. This brings the total number introduced since 2013 to 559, more than double the 200 models Acuity reported a year ago and a ten-fold increase in two years. The proliferation of biometric smartphones is extraordinary. This unprecedented growth supports Acuity’s assertion that within two years, biometrics will be as ubiquitous on smartphones as high resolution cameras are today.

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.

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. At 7% model share, ZTE is in the top spot, followed by Huawei at 6.2%, and Lenovo, Xiaomi, and Coolpad each at about 4%. Samsung falls just below this threshold offering 3.4% of the biometric smartphone models. Another 22 vendors each offer at least 1% of the total number of models with the remaining 59 vendors collectively offering 35% of currently available biometric smartphone models

Though Android is the principal operating system powering 97% of all biometric smartphone models, Apple remains the dominant player capturing 45%-unit market share of the nearly one billion biometric smartphones in use today with just a handful of iPhone models.

In addition, biometric smartphone prices have dropped dramatically. The quarterly average price of a biometric smartphone decreased from $849 in Q1 2013 to $276 in Q4 2016. 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

Acuity believes 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.

Meanwhile, the Indian Government recently called on domestic handset manufactures to develop $30 smartphones. Integrating biometrics into smartphones at this price point would not only transform the Indian market of one billion, but would pave the way for mass replacement of traditional handsets across Asia, Africa, and the rest of the developing economies creating a globally available, universal biometric authentication platform.

Given these powerful market forces, 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.


Details available in the “Biometric Smartphone Update” spreadsheet which provides detailed information on every biometrics smartphone on the market including brand, model, biometric mode, sensor, OS, price, availability, and links to detailed specifications and reviews. Preview at www.acuity-mi.com/BSP.php.

“The Global Biometrics and Mobility Report” provides unit and revenue forecasts for biometric smartphones, tablets, and wearables, and biometric apps and payment. Preview at www.acuity-mi.com/GBMR_Report.php .


Filed under: Biometrics, Market Insight, Market Research, Mobile Biometrics, Mobility, Smart Devices, Smartphones, Uncategorized | No Comments »