A new research report titled Biometrics: A Market Forecast for Consumer Adoption provides predictions out to 2025 for the penetration of the U.S. market by mobile devices that implement the hardware required to support biometrics, the market availability of persistent biometrics and the percentage of the U.S. population that will utilize biometrics for authentication.
Passwords are now totally unreliable. They were vulnerable before Yahoo lost 1 billion passwords to criminals but can’t be trusted today unless additional identification methods are incorporated. As identified in the below report "Biometrics: A New Wrinkle Changes the Authentication Landscape", biometrics will clearly be the technology to displace passwords over time and will do so at a unexpectedly fast rate as behavioral biometrics convert the market into a software and cloud based driven solution.
"This forecast evaluates four key issues that will most impact the adoption of biometrics, including consumer attitudes, availability, practicality and application support," said Tim Sloane, Vice President, Payments Innovation and author of report. "The availability of several years of Customer Monitor Survey Series (CMSS) research on consumer adoption of mobile banking provided us an excellent model for predicting how quickly the consumer’s distrust of biometrics will be converted into usage based on convenience and promotion by trusted friends and businesses."
The new report forecasting consumer adoption of biometrics will help authenticators plan their next technology implementation and help them evaluate the credibility of ROI estimates associated with the deployment of biometric hardware and centralized storage of biometric information. This report is critical for any executives preparing to make any such investments.
The forecast will also be important to suppliers in the authentication market, as it indicates that a dramatic market shift is underway.
Highlights of the report:
- Evaluates four key issues that will most impact the adoption of biometrics: Consumer Attitudes, Availability, Practicality, and Application Support.
- Using the output of the evaluations of the four issues above, forecasts to 2025 the penetration of the U.S. market by mobile devices that have the hardware required to support biometrics, the market availability of persistent biometrics, and the percentage of the U.S. population that will utilize biometrics for authentication.
- Predicts when the availability of persistent identity utilizing behavioral biometrics will transition the industry away from hardware to a software- and cloud-based solution.
- Utilizes data from Customer Monitor Survey Series (CMSS) research of 3,000 U.S. adults as the 2016 starting point for U.S. adoption of biometrics on mobile devices.
- Cites Customer Monitor Survey Series (CMSS) research used here to quantify the current lack of consumer trust in biometrics.
- Presents evidence of several years of Customer Monitor Survey Series (CMSS) research data on mobile banking, where consumers had equal concerns regarding safety and efficacy, to establish a consumer adoption model for biometrics.
1. Executive Summary
3. The Components of a Biometrics Adoption Forecast
- Consumer Attitudes
- Device Availability
- Application Support
4. Biometrics and Payment Cards
5. The Forecast for Consumer Adoption of Biometrics
6. Biometric Deployment Challenges
List of Figures
Figure 1: Smartphone Owners Rarely Use Biometrics Today Even When It Is Available
Figure 2: Consumer Distrust of Mobile Security Eroded Quickly over Time.
Figure 3: The Security Consumers Trust to Protect Mobile Devices
Figure 4: Consumer Adoption of Mobile-Based Biometrics by the US Population; 2017 to 2025