Mobile BioMetric Security on the Rise
According to a recent Technavio study, mobile biometric security is expected to more than double from 2016 to 2020.
The Global Mobile Biometrics Market report focused on three segments of the mobile biometrics market.
The fingerprint recognition market is expected to reach $12 billion by 2020, which represents a growth of 103%.
Fingerprint recognition can be used for contactless mobile payment transactions. Consumers can store their credit or debit cards on their mobile device, and during checkout, they can authenticate their identity using their fingerprint.
“Apart from the usage of mobile fingerprint technology in the retail and commercial sectors, sectors such as healthcare, defense, and enterprises will also experience revenue growth during the forecast period,” says Amrita Choudhury, a lead research analyst at Technavio.
The market for voice recognition is expected to exceed $11 billion by 2020, which is a growth of 97%.
Voice recognition is the most user-friendly biometric technology on the market, and it eliminates the need for multiple complicated passwords. It also provides a level of security above PINs and smart cards.
However, facial recognition technology, which is more accurate than voice biometrics, may limit voice recognition growth.
The facial recognition market is expected to grow to $1 billion by 2020–a growth of 128%.
Facial recognition is increasingly popular due to the growth of mobile device theft. The technology makes mobile devices useless to anyone other than the authorized user, which prevents fraudulent activity. It’s also highly reliable, accurate and cost-effective, which means it’s gaining traction with customers and enterprises.
“Increasing adoption of m-commerce is also likely to increase the adoption of facial recognition in mobile devices. In addition, there is an increasing need to secure personal information among users, which is fostering the growth of the market,” says Choudhury.