Mobile Biometrics Market To Hit $50.6 Billion in 2022: Acuity

“Acuity predicts that by the end of this year, over 1.9 billion biometric mobile devices will be in use, and that this will grow to 5.5 billion devices by 2022, when 98 percent of all smartphones will have biometric capabilities.”

The mobile biometrics market will see dramatic growth over the next several years, rising from revenues of $6.5 billion last year to $50.6 billion in 2022, according to a new market forecast from Acuity Market Intelligence. The increase reflects an annual growth rate of 41 percent.

Citing the twin pressures of digital threats and technological advancement signaled by the Equifax hack and the iPhone X’s new Face ID system, respectively, Acuity principal researcher Maxine Most asserts that “the casualties of inadequate digital security mount and drive demand for better identity solutions.” Acuity predicts that by the end of this year, over 1.9 billion biometric mobile devices will be in use, and that this will grow to 5.5 billion devices by 2022, when 98 percent of all smartphones will have biometric capabilities.

Elaborating further on the rapidly evolving landscape, Most predicts that by 2018, the emergence of “hardened mobile biometric security” and “Biometrics Identity Service Providers” will prompt a shift from on-device authentication to server-side systems.

Further details are available from Acuity’s full publication, “The Global Biometrics and Mobility Report: The Convergence of Commerce and Privacy”.

–

September 14, 2017 – by Alex Perala