As biometric solutions grow in popularity, fingerprint authentication could be overtaken by other modalities, suggests a new report.
French market research and consultancy firm Yole Development found in a new study that the consumer sector, especially smartphone applications are driving the biometrics development.
Consumer applications today represent 66% of the total hardware biometric market, against only 2% in 2010. 2021 is showing the same trend with 10% CAGR from 2016 to 2021, said Yole.
According to Yole, biometric solutions’ growth will be supported by a 6.4% CAGR of smartphone units between 2015 and 2021.
“At Yole we expect a huge increase up to 1,500 million units by 2021,” asserts Guillaume Girardin, Technology & Market Analyst at Yole. “By 2021, fingerprint sensing won’t be the unique biometric solution embedded in a smartphone, the advent of multimodal recognition is on the verge to conquer the consumer market”.
Yole says fingerprint for unlocking and mobile payment have become the biggest biometric solution in terms of market share.
At Yole, analysts estimate that the annual revenues generated by fingerprint-based solutions, all markets combined, reach currently US$ 4,1 billion, representing 91% of the hardware market value. Fingerprint sensing dominates other biometric technologies because it meets almost all the requirements of a perfect biometric recognition technology. Robust, stable and repeatable, time-invariant, difficult to proof are the main characteristic of such solution.
However, iris an face recognition are strong contenders, according to Yole.
“[For] many years, eye-based and face-based recognition technologies [have been] gaining momentum, especially in the homeland and security market, therefore technologies breakdown is much more equilibrated”.
It also expects to see a diffusion of biometric technologies within the IoT market, for example, fingerprint sensors and microphones to authorize the access to a location or confidential information.