London, 12 January 2015 – According to a new report from research firm TechNavio, the Global Mobile Biometrics Market is expected to grow at a CAGR of 128.4 percent from 2014-2019.
As more consumers trust their private data to websites and web applications, identity and data theft has grown. The popularity of online gaming and social networking websites has also led to a growth in the number of identity theft cases. Therefore, end-users are now relying on secure authentication solutions, which have precipitated the high adoption of biometrics security solutions.
“Biometric solutions consider both physical and behavioral features of a user, which makes forging or stealing data difficult, thus making it the strongest authentication solution,” says Faisal Ghaus, Vice President of TechNavio.
The latest report by TechNavio also emphasizes the integration of biometrics in two-factor authentication devices. Incorporating biometrics in two-factor authentication is a cost-effective approach, which at the same time provides stronger security for the devices. Hence, the trend of integrating biometrics with two-factor authentication devices is expected to increase over the forecast period.
“Incorporation of biometrics is also becoming a key competitive advantage for mobile phone-based authentication providers. They are now increasingly seeking out partnerships with biometrics vendors,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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