Research firm TechNavio has released a new report predicting enormous growth for the Global Mobile Biometrics Market. The researchers assert that between 2014 and 2019, we’ll see an annual growth rate of 128.4 percent (CAGR).
This is a significantly higher rate of growth than the rates predicted for the overall global biometrics market – which are nevertheless very encouraging in themselves – and it shouldn’t be much of a surprise. Mobile applications are one of the leading market drivers in the world of biometrics, thanks in large part to the rise of mobile commerce, which has spurred smartphone manufacturers to install biometric security on their devices as a standard feature. In the coming year, we’ll see multiple mCommerce platforms launch and compete in the enormous Chinese market, which will likely be a major factor in driving mobile biometrics growth.
The TechNavio report also points to the areas of social networking websites and online gaming as important factors, noting that they’re popular venues whose users are often vulnerable to online identity theft. And the researchers also highlight the increasing adoption of biometrics in two-factor authentication systems, which they call “a cost-effective approach” that nevertheless offers “stronger security”.
January 14, 2015 – by Alex Perala