Posted: June 10th, 2015 | Author: cmaxmost
Acuity just released revised forecasts for the mobile biometrics market. Annual revenues from biometrics embedded in smart mobile devices, biometric app downloads, and biometric authentication of transactions are projected to grow from $1.6 billion in 2014 to $34.6 billion in 2020 representing a CAGR of nearly 67% with total forecast period revenues exceeding $117 billion.
Today’s mobile biometrics are primarily a convenience factor; a pin alternative for device, application, and account access, as well as mobile payment authorization. I believe that by 2017, hardened biometric security on mobile devices will begin in earnest and we will see a genuine transformation in identity and commerce and the true end of “the password as we know it.”
The potential for consumer use of mobile biometrics and the associated revenue is magnitudes greater than any previous application of biometrics. This massive, globally available platform will provide an unprecedented opportunity for sustained sensor, software and app based revenue as well as enormous potential for biometric authentication services for high-risk and high-value transactions.
Acuity also projects that by 2020, biometrics will be standard on 100% of the nearly 3 billion consumer smart mobile devices sold each year. With an installed base of 4.8 billion, more than 89% of all smart mobile devices in use will be biometrically enabled. In addition, more than 5.5 billion biometric apps will be downloaded annually, and more than 800 billion transactions that require some level of biometric authentication will be processed on mobile devices each year.
For detailed forecasts and analysis of the consumer mobile biometric market, preview and purchase “The Global Biometrics and Mobility Report: The Convergence of Commerce and Privacy” at www.acuity-mi.com/GBMR_Report.php
Filed under: Biometrics, Data Driven Analysis, e/mCommerce, Market Forecast, Market Insight, Market Research, Mobile Biometrics, Mobility, NFC, Payments | No Comments »
Posted: December 29th, 2014 | Author: cmaxmost
Marcus Chavers of Newsledge did a really nice, concise job of de-bunking the fear mongering around the “hack” of the German Defense Minister’s fingerprint image.
Marcus writes …
Before we have the collective CNN-style freakout, there are some serious caveats to this. One, it doesn’t always work. It takes more than a few high quality images of a person’s hands. The easiest targets are celebrities and politicians, who have thousands of photos snapped of them.
Even then, have fun going through that archive. For the average person? Well, if you’re in line and someone has a Nikon DSLR pointed at your hand, you’re apt to say something or call the cops.
Two, they still need your phone. All that fingerprint work is for naught if the identity thief doesn’t have your phone. What’s the likelihood a Defense Minister is getting his/her phone stolen? About as likely as the thief getting access to it before it’s remote wiped.
And three. The practical danger of this is pretty limited. No one is going to get away with snapping pictures of your hand at Walmart. Then following you out to the parking lot to steal your phone. There’s easier ways to steal your identity. Seeing as online e-commerce is slow on patching vulnerabilities, just wholesale hacking Staples is easier than stealing 1000s of thumbprints.
Nothing more to say. Well done Marcus, well done!
Filed under: Biometrics, e/mCommerce, Mobility, NFC, Payments | No Comments »
Posted: December 26th, 2014 | Author: cmaxmost
The 2014 Holiday Season may be the brightest ever for the biometrics industry as the long anticipated floodgates for consumer biometrics may finally be open. Acuity forecasts that intensifying demand for smart phones, tablets, and wearable mobile devices that incorporate biometrics will drive a global market of 2.5 billion users with nearly 4.8 billion biometric devices by 2020.
The market for biometrically enabled mobile devices will surge over the next five years. Apple’s launch into biometrics and payments will be followed by similar efforts by Samsung and others, and within 3 years, biometrics will become a standard feature on smart phones as well as other mobile devices
Wearables including smart watches, Google’s re-envisioned Google Glass, along with form factors yet to be seen, will burst onto the market and fundamentally change the way we think about and manage communication, payments, personal transactions, healthcare, and social interaction. All of these devices will include embedded biometrics as well as options to download software-based biometric apps.
Acuity projects that embedded fingerprint sensors will initially dominate the market becoming standard in smart phones and tablets by 2017, generating more than $1.5 billion in annual revenues. Emerging biometric sensors that rely on an individuals pulse, skin texture, or other yet unknown metrics will evolve rapidly, especially on wearables. This is in addition to biometric apps, such as facial or eye based recognition, that will leverage the camera or other built-in device features.
For more insight into the mobile biometric marketplace, review Acuity’s Mobile Market Analysis and download Acuity’s Mobile Market Briefs: “The ABC’s of Mobility: Apple, Biometrics and the promise of Consumer Centric privacy” and “The Center of Gravity Has Shifted“.
For a comprehensive view of the marketplace and detailed forecasts, pre-order “The Global Biometrics and Mobility Report”. The report will be available in January 2015 and can be ordered now for a 20% discount.
Filed under: Biometrics, e/mCommerce, Market Forecast, Market Research, Mobility, NFC, Payments, Uncategorized | No Comments »
Posted: October 9th, 2014 | Author: cmaxmost
Taken together, the three components of Apple’s latest portfolio – Apple Pay, Touch ID, and embedded device privacy – have done more to break open the mobile marketplace for consumer biometrics than biometric industry insiders, associations, and advocates have in more than a decade.
With the Touch ID enabled iPhone 6, iOS 8 and Apple Pay, Apple is offering consumers biometrical secured devices and mobile phone transactions. At the same time, Apple has assured customers that the company will not have access to the data on their iPhones, will not track or store users’ iPhone transaction footprint, nor will they have the ability to comply with government warrants or subpoenas for data on these mobile phones.
Acuity latest Market Brief “The ABC’s of Mobility: Apple, Biometrics, and the Promise of Consumer-Centric Privacy” explains that this move towards biometric-based consumer control of personal and personally identifiable information represents a dramatic marketplace shift. A shift away from the much-reviled credit bureau model where unaccountable corporate entities like Experian and TransUnion own and manage consumer financial profiles. Or, the business models of Google and Facebook that power multi-billion dollar enterprises by capturing and monetizing consumers’ personal and financial behavior and online footprints without their knowledge or consent.
With these strategic moves in the areas of commerce and privacy, Apple has initiated what may very well be a fundamental transformation of both the role of the mobile phone and the market dynamics surrounding the ownership and management of consumer data.
Welcome to the new world of consumer-centric privacy!
For more, download “The ABC’s of Mobility: Apple, Biometrics, and the Promise of Consumer-Centric Privacy”
Additional insight, analysis, and comprehensive market data for mobile biometrics markets will be included in “The Global Biometrics and Mobility Report: The Convergence of Commerce and Privacy” available in November 2014. 20% Pre-Publication Discounts available on Orders placed by October 28, 2014
Filed under: Biometrics, e/mCommerce, Market Development, Mobility, NFC, Payments | No Comments »
Posted: September 12th, 2011 | Author: cmaxmost
Wondering about the “Future of Biometrics”? It is all about the data. At least if you look where IBM is placing its bets.
The news that IBM is buying Algorithmics for $387 million is yet another deal by Big Blue that enhances its analytical, risk management and financial expertise.
Over the last five years, IBM has spent more than $14 billion on 25 acquisitions focused on analytics to help its customers deal with “exponentially growing amounts of unstructured data from sources such as social media, biometrics and criminal databases,” notes Reuters. On Wednesday, IBM announced it will buy British security analytics software firm i2 for an undisclosed sum.
Organizing, integrating and making sense of “exponentially growing amounts of unstructured data” will continue to drive IT development for the foreseeable future. In the biometrics realm, we are in the very early stages of trying to figure this all out.
Imagine the complexity as millions, perhaps hundreds of millions, of government, commercial, and even personal interactions and transactions are biometrically enabled over the next five years. A daunting, yet inspiring prospect.
Filed under: Biometrics, Data Driven Analysis, Market Research, NFC | No Comments »