Goode Intelligence issued an update to its report forecasting that by 2019 there will be 604 million users of wearable biometric technology globally.
According to Goode Intelligence, biometric authentication in Smart Mobile Devices – smart phones, phablets and tablets – has become a common feature. Apple, Samsung and Huawei are the first to implement biometrics and the trio is being emulated by other device manufacturers for integration into more affordable models.
The trend is driven by the need to protect devices — replacing PINs for device unlock — mobile payments and mobile banking authentication and will lead into it enterprise multi-factor authentication.
Good Intelligence forecasts that there will be 393 million users of mobile biometric authentication by the end of 2014. This growth will continue throughout 2015, when there will be an emergence of biometric authentication for wearable devices for a range of use cases.
In its updated Analyst Report, Mobile and Wearable Biometric Authentication: Market Analysis and Forecasts 2014-2019, Goode states that wearable devices will leverage a variety of sensors and short-range radio — NFC and Bluetooth low energy — capabilities to offer continuous out-of-band authentication for a variety of use-cases including:
- Payment Authentication: The ability to use a band or watch to pay for goods and services purchased at both the physical point of sale and online. AliPay, Apple Pay and PayPal payment services will move from smart mobile devices to wearable devices to offer biometric payments
- Internet of Things Authentication: A wearable device with biometric authentication capabilities has the potential to unlock a wide variety of connected “things” from automobiles to physical doors and allow identity verification to unlock “experiences” on multimedia devices including TVs, game consoles and other connected entertainment systems
- Enterprise Authentication – Bring Your Own Identity: Consumer technology is driving enterprise IT and authentication is not immune to this trend. Wearable devices that have biometric authentication capability will quickly replace legacy authentication solutions to become a convenient way to identity employees for both physical access control and logical authentication.
The next wave of consumer-led biometric adoption will be led by the integration into wearable technology – smart watches, bands, ear-pods, jewelry and glasses. The wearable device, with biometrics, will become the prime personal authentication device enabling authentication and identity verification for both the physical and logical worlds.