Cloud biometrics to head skyward in next five years
04 December 2017 16:56 GMT

More than 5.5 billion biometrically-enabled mobile devices will create a global platform that supports one trillion cloud-based biometric transactions annually by 2022, according to new research from Acuity.

The group expects Cloud-based biometric solutions to drive the mobile biometric market to $50.6 billion in annual revenue by 2022.

"Biometric have become a mainstream convenience for unlocking smartphones and verifying on-device transactions," according to Maxine Most, Acuity's Principal and lead analyst. "But the market is evolving towards a hierarchy of integrated biometric authentication methods that range from simple device-based verification to third-party biometric Cloud, or server-side, solutions. These solutions will replace traditional digital identity schemes and provide more secure and reliable identity assurance on a global scale."

Acuity projects annual biometric transaction revenue will increase from $474 million in 2017 to $18 billion in 2022 exceeding a 100% CAGR. Biometric app revenue will grow at 26% during this period as revenue increases from $9.4 billion to $29 billion annually.  Mobile biometric transaction volume is forecast to reach 1.4 trillion annually in 2022 – more than 70% cloud based - as biometric app downloads exceed 16.7 billion that year.

"Pushing biometrics to 'the edge' of the mobile ecosystem with device-based authentication improves the mobile experience, but with limitations," says Most, a biometric identity expert with nearly twenty years of intensive focus on this now burgeoning marketplace.  "The big payoff comes from Cloud, or server-side biometrics, that simplify authentication and reduce friction while linking an individual to a device and platform independent Unique Verifiable Identity (UVI)."

Acuity makes the case for Cloud biometrics in a new report, "Taming the Authentication Beast: Simplifying and Enhancing the Customer Journey with Biometrics in the Cloud."