Biometrics on Smart Mobile Devices to Redefine Digital Identity
July 20, 2015 | PR NewswireEstimated reading time: 1 minute
Acuity Market Intelligence's latest research "The Global Biometrics and Mobility Report: The Convergence of Commerce and Privacy" forecasts that between 2014 and 2020 nearly 12.9 billion mobile biometric apps will be downloaded to smart mobile devices by 2.2 billion mobile biometric users. The mobile biometrics market is projected to generate more than $67.9 billion in total biometric app revenue during the seven-year forecast period.
"Biometrics is at the center of a firestorm of converging market forces driving the digital identity revolution," says Maxine Most, Acuity Market Intelligence Principal and author of the report. "New and complex relationships between identity, mobility, and commerce are redefining global communication and commerce ecosystems and require frictionless, yet highly reliable security."
According to Most, a biometric identity market expert, "As biometrics become standard on smart mobile devices and consumers are increasingly accustomed to relying on biometric security, continually updated, highly secure biometric apps will be downloaded to ensure the highest mobile security standards are maintained."
Mobile biometric apps are downloadable, software applications that enable biometric authentication capabilities on smart devices. They can operate independently or can leverage onboard or embedded biometrics, or other biometric apps that have been previously downloaded. Biometric apps are purchased by the user or provided free of charge by vendors, merchants, or service providers.
Acuity projects that biometric app annual revenue will increase at a CAGR of 148% over the forecast period from less than $100 million in 2014 to more than $21.7 billion in 2020. Acuity reports that more than 5.4 billion biometric smart device apps will be downloaded in 2020, up from 6.5 million in 2014. Acuity also reports that there will be 4.8 billion biometric mobile devices in circulation in 2020, most containing multiple biometric apps from multiple sources.
About Acuity Market Intelligence
Acuity Market Intelligence is an emerging technology strategy and research consultancy with a proven record of accurately anticipating biometric and electronic identity (eID) market trends.
Suggested Items
Nanotechnology Market to Surpass $53.51 Billion by 2031
04/25/2024 | PRNewswireSkyQuest projects that the nanotechnology market will attain a value of USD 53.51 billion by 2031, with a CAGR of 36.4% over the forecast period (2024-2031).
Technica USA Presents Inaugural Supplier Alliance Award at IPC APEX EXPO 2024
04/24/2024 | Technica USADuring IPC APEX EXPO 2024, Technica USA took the opportunity to thank all of their supply partners that made the effort to join them for the exhibition in their booth, as well to all of our SMT partners that had their own booths, with the latest in automation and process technology.
IDTechEx Report Unveils 3D Electronics Status and Opportunities
04/22/2024 | PRNewswire3D electronics is an emerging manufacturing approach that enables electronics to be integrated within or onto the surface of objects. 3D electronic manufacturing techniques empower new features, including mass customizability, greater integration, and improved sustainability in the electronics industry.
IDTechEx Examines the Opportunities for Wearables in Digital Health
04/19/2024 | IDTechExIDTechEx’s report, “Digital Health and Artificial Intelligence 2024-2034: Trends, Opportunities, and Outlook”, covers this ongoing trend in the consumer health wearables market and includes analysis of the opportunities and roadmap for biometric monitoring.
Real Time with... IPC APEX EXPO 2024: Pluritec's Expansion and Growth in the North American Market
04/19/2024 | Real Time with...IPC APEX EXPONicola Doria, president of Pluritec, discusses the company's strategic focus on the North American market, their investment in a new sales organization, service expansion, and a new process integration line. The conversation also covers market response and future installations, as well as Pluritec's new partnership with IEC.