This forecast evaluates four key issues that will most impact the adoption of biometrics, including consumer attitudes, availability, practicality and application support.
Boston, MA (PRWEB) January 26, 2017
A new research report from Mercator Advisory Group 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 companion 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, at Mercator Advisory Group and author of report. “The availability of several years of Mercator CustomerMonitor 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 Mercator Advisory Group’s CustomerMonitor 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 Mercator CustomerMonitor Survey Series (CMSS) research used here to quantify the current lack of consumer trust in biometrics.
- Presents evidence of several years of Mercator CustomerMonitor 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.
This research report is 16 pages long and has 4 exhibits.
Companies mentioned in this report include: Amazon, Apple, Facebook, FIDO Alliance, Google, Yahoo.
Members of Mercator Advisory Group's Emerging Technologies Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.