The phone-based authentication market will undergo a pronounced growth trend over the next several years, according to a new report from Technavio. The firm predicts an annual growth rate of 49.33 percent (CAGR) between 2014 and 2019.
The report’s authors suggest that the main advantage for this market is that it doesn’t require any special, additional hardware – just the smartphones already in users’ hands. Granted, not all smartphones have fingerprint sensors, but that modality is increasingly prominent across the smartphone spectrum, and virtually all smartphones feature the camera and recording functionality required for face- and voice-based authentication. That last modality, moreover, is identified by the report’s authors as one of particular interest; Technavio Vice President Faisal Ghaus asserts that it’s “difficult to forge the speaking style, pitch, spectral magnitudes, and format frequencies of a given individual, which is making voice biometrics an attractive prospect for vendors in this sphere.”
That bodes well for financial institutions like Wells Fargo, which is exploring voice and face biometrics for user authentication on its mobile app. But it also goes against recent findings from USAA, which has found that user of its app’s multimodal authentication system tend to avoid voice recognition, largely due to discomfort at having to speak passcodes aloud when in public.
In any case, the overall prognosis of strong growth for the mobile biometrics market appears very apt, with a strong upwards trend already visible in large part thanks to the pioneering efforts of Apple’s Touch ID system.