Acuity Predicts Over a Trillion Cloud-Based Transactions Per Annum by 2022

“The big payoff comes from Cloud, or server-side biometrics, that simplify authentication and reduce friction while linking an individual to a device and platform independent Unique Verifiable Identity (UVI).” – Maxine Most, Principal, Acuity Market Intelligence

There will be a trillion cloud-based biometric transactions per year by 2022, according to a new report from Acuity Market Intelligence. Acuity Predicts Over a Trillion Cloud-Based Transactions Per Annum by 2022According to the market research firm’s latest forecast, cloud-based biometric transactions will comprise over 70 percent of the 1.4 trillion mobile biometric transactions in 2022.

The trend will follow – and contribute to – growth in the overall biometrics market, with biometric transactions expected to grow from $474 million this year to $18 billion in 2022, and revenues from biometric apps to grow from $9.4 billion to $29 billion over the same period.

Commenting in a report, Acuity principal analyst Maxine Most explained that while mobile device-based biometric authentication has improved the user experience, “[t]he big payoff comes from Cloud, or server-side biometrics, that simplify authentication and reduce friction while linking an individual to a device and platform independent Unique Verifiable Identity (UVI).”

Most will share further insights into this trend in an expert panel discussion this week hosted by FindBiometrics President Peter O’Neill, and featuring experts from BioConnect and ImageWare Systems. The live discussion will be broadcast on the web on Wednesday, Dec. 6th, and will feature an audience Q&A; registration is free.

December 4, 2017 – by Alex Perala