“Acuity’s forecast calls for the cloud to make it rain, with the mobile biometrics market driven to $50.6 billion annually by the projected 2022.”
Acuity Market Intelligence wants you to imagine life in 2022. A world where we’ve seen the number of active biometrically-enabled mobile devices increasing to 5.5 billion globally, thus creating a platform for one trillion Cloud-based biometric transactions annually.
Acuity’s forecast calls for the Cloud to make it rain, with the mobile biometrics market driven to $50.6 billion annually by the projected 2022. Currently, the annual biometric transaction revenue is estimated at $474 million, and will exceed a 100 percent CAGR with a jump to $18 billion by the prophesied 2022. And there’s quantity in this quality: with biometric transactions volume consisting of 70 percent Cloud based in five years.
Principal and founder of Acuity Maxine Most heralds the chance as a way to push biometrics to “the edge” of the mobile ecosystem by taking off from the current improvements to the mobile experience device-based authentication, claiming the Cloud is where it’s at.
“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),” said Most, in a statement announcing Acuity’s new forecast.
Most is sharing her insight into the evolving Cloud biometrics marketplace during the “Digital Identity in the Era of Cloud Biometrics” webinar presented by FindBiometrics on Wed, Dec 6, at 11 ET, for which registration is still open.
December 5, 2017 – by Susan Stover