Market for Mobile Phone Biometric Security Products and Services Set to Grow and will Generate over $161 Million Revenue by 201508 Jul 2011 • by Natalie Aster
New analyst report from Goode Intelligence reveals compelling reasons to utilise the mobile phone for biometric security purposes.
London – Goode Intelligence, information security research and analysis specialists, today issued a new analyst report revealing that the market for mobile phone biometric security products and services is set to grow significantly over the next five years.
Goode Intelligence forecasts that mobile phone biometric security products and services will generate just over $30 million in 2011 and that the market will grow to over $161 million in revenue by 2015; an increase of over $130 million.
The report, Mobile Phone Biometric Security; Analysis and Forecasts 2011 - 2015, shows that the key drivers behind this market growth and the adoption of mobile phone biometric security include:
- Device security protection: Protecting the device against unauthorised access is the biggest driver for mobile phone biometric security. This includes protection of both apps and the data that resides on the device.
- Mobile Commerce: The growth of mCommerce and the need to effectively secure the ecosystem on the mobile.
- NFC: The contactless technology that is reaching tipping point could well be a major driver.
- Convenient alternative to PINs and password: Swiping a finger on a phone or providing a verbal „voiceprint‟ can be an easier and far more convenient way to provide authentication than conventional technologies.
- As part of a multi-factor authentication solution: With the recent attack on RSA, leading to vulnerabilities being exposed in its SecureID token technology, there is a pressing need for strong and agile authentication solutions – mobile phone-based biometric security can be a viable part of this solution.
- Military and law enforcement: A cost-effective method for capturing biometric data and verifying identity in the field.
Date: June 2011
Price: US$ 3,995.00
Goode Intelligence predicts that initial growth will come from embedded fingerprint sensors designed to protect the device and from voice biometrics which will be used as part of multi-factor authentication solutions.
“Motorola has been heavily marketing the security benefits of using biometrics (fingerprint sensor) to protect its latest Android smartphone, the Atrix. It is even being called the „James Bond‟ smartphone” said Alan Goode, author of the report and founder of Goode Intelligence.
“Additionally, the recent problem that RSA has experienced with its SecureID product has resulted in a rush for suitable alternatives that are built for the 2010s and not the 1990s. The combination of the consumerisation of IT, where people are accessing IT services and information from a variety of employee-owned and employer-issued devices, plus the modern threat from hackers and cyber criminals necessitates a rethink for authentication and identity verification.
“Whether it is for protecting the physical device or for providing strong authentication and identity verification for a remote service, such as NFC-based mobile payments, mobile phone-based biometrics can offer a wide variety of solutions – the third factor in the palm of your hand.
“We believe a biometric groundswell is building. The market is currently slow; but pressure is growing. The conditions are ripe for rapid change; for biometrics to move from an „interesting concept‟ to a 'must have' for all smart mobile devices (SMDs).”
More information can be found in the report “Mobile Phone Biometric Security; Analysis and Forecasts 2011 - 2015” by Goode Intelligence.
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