Biometrics Research; Goode Intelligence forecasts that the market for mobile biometric security products and services is set to grow and will generate over $8.3 billion revenue by 2018
The leading company in mobile security analysis, Goode Intelligence, has published a new market forecast report covering the mobile biometric security market which, driven by Apple's positive move with Touch ID, forecasts exceptional growth for the industry.
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London, United Kingdom - October 28, 2013 (Investorideas.com Newswire) Goode Intelligence, the leading research, analysis and consultancy organisation for the mobile security industry, today issued a new market forecast report revealing that the market for mobile biometric security products and services is set to grow significantly over the next six years.
Goode Intelligence reports that as a result of the combination of Apple's positive move with Touch ID and the creation of a strong ecosystem to support biometrics on consumer mobile devices, by 2018, 3.4 billion users will be using biometrics on their mobile devices, generating almost US$8.3 billion worth of revenue for the biometrics industry.
The report details that fingerprint sensors will become standard in most high-end smart mobile devices by 2015 and become common in all mobile devices shipped during 2018.
The report, Mobile Biometric Security – Market Forecast Report 2013 - 2018, shows that the key drivers behind this market growth and the adoption of mobile biometric security include:
The Consumerisation of Biometrics: Apple has changed everything and has again disrupted a market and rebranded biometrics as a convenient method of communicating with consumer technology. Previously, Biometrics has largely been associated with high-end security; border control, national ID solutions and for providing access control for high-security buildings. This has all changed with the Apple iPhone 5s and Touch ID•Convenient mobile device protection: Existing mobile device authentication is cumbersome and inconvenient. This means that many devices are left with no protection. Replacing a PIN or Passcode with an easy-to-use biometric can reduce this burden •Mobile Commerce: Mobile devices have become the prime method of carrying out digital commerce yet identity verification and payment authorisation has not yet been updated to match this form factor. Biometrics can offer a convenient and secure method to prove identity and to authorise payments•As part of a multi-factor authentication solution: Most of the major authentication vendors support, or have plans to support, biometrics in their authentication products. This will be supported by authentication standards initiatives such as the FIDO Alliance that will enable biometrics to be easily utilised, when available, on mobile devices
Mobile devices are getting more secure: Apple's Touch ID fingerprint solution makes use of a 'secure vault' to ensure that the fingerprint templates are stored in a secure area of the hardware. It is thought that Apple is leveraging ARM's TrustZone, a hardware-security environment for secure storage and trusted execution. Security services are being built into all mobile platforms to counteract malware and to protect sensitive information and transactions. Complimentary services such as Mobile Device Management (MDM), Secure Containers and Mobile Application Management (MAM) create a trusted platform to support biometric security on consumer mobile devices
"Biometrics on mobile devices is not a new concept; the first commercial device to embed a fingerprint sensor was launched back in 1999. What we have now, and what has changed in the last 18 months, is a much more favourable environment in which biometrics on mobile devices will flourish" said Alan Goode, author of the report and founder of Goode Intelligence.
"Apple's decision to launch its latest flagship iPhone, the iPhone 5S with an embedded touch fingerprint sensor, was a pivotal moment for the biometrics industry and will accelerate the Consumerisation of Biometrics trend.
"We believe that there will be a rush by consumer smart mobile device (SMD) manufacturers to emulate Apple by embedding and integrating biometrics technology into their next generation devices – not just fingerprint sensors but other biometric technology as well.
"This will become even more important in the post-smartphone world when wearable technology and smart cars/houses/cities will offer us a much more personal computing experience – in this world biometrics may well hold the key for identity and user interaction."
Goode Intelligence is the leading research, analysis and consultancy organisation for the mobile security industry; providing services to global technology and telecommunications organisations. For more information about Goode Intelligence please visit www.goodeintelligence.com
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