According to calculations, the number of potential users of biometric technology in smartphones could rise from 43.23 million in 2013 to 471.11 million in 2017. The use of biometrics in mobile devices is expected to reach maturity in 2019.
Revenue from the use of biometrics in smartphones is projected to grow at a compounded annual growth rate of 39.6 percent until 2019. Due to the current capabilities of mobile device hardware, the biggest part of this growth will initially come from facial and vocal authentication.
The article “Biometrics Go Mobile: A Market Overview” published by Frost & Sullivan presents biometrics as a good alternative to conventional methods of authentication for mobile phones.
Its advantages should be sufficient to erase the doubts regarding privacy that are standing in the way of widespread adoption.
Although a number of new devices capable of fingerprint authentication are expected to enter the market, the use of the technology will not be widespread until appropriate authentication software is developed.
Experts from Frost & Sullivan predict that the huge global demand for mobile commerce and mobile payments will boost the short-term need to come up with a more secure means of identification to validate digital transactions.
Biometric systems are proving to be ideal for new applications such as payments. It is important that biometric solution providers develop a regional strategy in order to adapt the product or service to the privacy rules of each country.