{"id":32680,"date":"2017-12-04T16:33:10","date_gmt":"2017-12-04T16:33:10","guid":{"rendered":"https:\/\/www.cloudcomputing-news.net\/news\/2017\/dec\/04\/acuity-cloud-biometric-solutions-will-authenticate-over-1tn-transactions-annually-2022\/"},"modified":"2017-12-04T16:33:10","modified_gmt":"2017-12-04T16:33:10","slug":"acuity-cloud-biometric-solutions-will-authenticate-over-1tn-transactions-annually-by-2022","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/acuity-cloud-biometric-solutions-will-authenticate-over-1tn-transactions-annually-by-2022\/","title":{"rendered":"Acuity: Cloud biometric solutions will authenticate over 1tn transactions annually by 2022"},"content":{"rendered":"

<\/p>\n

Acuity expects cloud-based biometric solutions to authenticate more than one trillion transactions annually by 2022<\/p>\n

Cloud-based biometric solutions are expected to drive the mobile biometric market to $50.6 billion in annual revenue by 2022, according to Acuity Market Intelligence.<\/p>\n

Acuity predicts that more than 5.5 billion biometrically enabled mobile devices will create a global platform that would support one trillion cloud-based biometric transactions yearly by 2022.<\/p>\n

Maxine Most, Acuity's Principal and lead analyst, said: "Biometric have become a mainstream convenience for unlocking smartphones and verifying on-device transactions. 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.”<\/p>\n

As per Acuity, the annual biometric transaction revenue is expected to grow from $474 million in 2017 to $18 billion in 2022, thus exceeding a 100% CAGR. Biometric app revenue is expected to increase at 26% during this period as revenue increases from $9.4 billion to $29 billion yearly. Acuity predicts mobile biometric transaction volume to reach 1.4 trillion yearly in 2022 – more than 70% cloud based – as biometric app downloads exceed 16.7 billion that year.<\/p>\n

Most said: "Pushing biometrics to 'the edge' of the mobile ecosystem with device-based authentication improves the mobile experience, but with limitations. 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)."<\/p>\n

Are you surprised at this rate of growth? Share your thoughts in the comments. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

<\/p>\n

Acuity expects cloud-based biometric solutions to authenticate more than one trillion transactions annually by 2022<\/p>\n

Cloud-based biometric solutions are expected to drive the mobile biometric market to $50.6 billion in annual revenue by 2022, according to Acuity Market Intelligence.<\/p>\n

Acuity predicts that more than 5.5 billion biometrically enabled mobile devices will create a global platform that would support one trillion cloud-based biometric transactions yearly by 2022.<\/p>\n

Maxine Most, Acuity’s Principal and lead analyst, said: “Biometric have become a mainstream convenience for unlocking smartphones and verifying on-device transactions. 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.”<\/p>\n

As per Acuity, the annual biometric transaction revenue is expected to grow from $474 million in 2017 to $18 billion in 2022, thus exceeding a 100% CAGR. Biometric app revenue is expected to increase at 26% during this period as revenue increases from $9.4 billion to $29 billion yearly. Acuity predicts mobile biometric transaction volume to reach 1.4 trillion yearly in 2022 – more than 70% cloud based – as biometric app downloads exceed 16.7 billion that year.<\/p>\n

Most said: “Pushing biometrics to ‘the edge’ of the mobile ecosystem with device-based authentication improves the mobile experience, but with limitations. 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).”<\/p>\n

Are you surprised at this rate of growth? Share your thoughts in the comments. <\/strong><\/p>\n","protected":false},"author":181,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-32680","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/32680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/181"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=32680"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/32680\/revisions"}],"predecessor-version":[{"id":32681,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/32680\/revisions\/32681"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=32680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=32680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=32680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}