2020 to See Universal Adoption of Biometrics Mobile Technology
Acuity Market Intelligence today announced that, by 2018, 100 percent of mobile devices sold will depend on biometric identification information. The research group, which specializes in biometric and electronic ID trends, also estimated that biometrics technology will generate $7 billion in revenue from more than 800 billion biometrically enabled transactions by 2020.
According to Maxine Most, principal at Acuity Market Intelligence, the proliferation of biometrics applications is a result of increasing concern about security and the concurrent decreasing cost of technology. When Apple first launched its Touch ID fingerprint scanner on the iPhone 5s in 2013, the technology cost $7 to 10; that cost has dropped to $3 to 4, with the possibility of eventually dropping to only $1.
“The proliferation of biometric devices for consumer, enterprise, and civil use, the explosive growth of biometrically enabled transactions, and the global consensus that passwords and tokens have become dangerously obsolete have created an unstoppable force for change,” said Most in today’s announcement. “These forces are not only transforming e- and m-commerce and on and off-line payments, but enterprise physical and logical access control, home security, border control, the Internet of Things, and civil identity programs as well.”