Market Drivers and Trends
The fingerprint sensor industry is now fuelled by significant market drivers like the:
- massive adoption of smartphones
- market entry by Apple and Microsoft
- new payment and cloud computing applications
- rapidly growing identity theft
- wars on crime and terror and the
- ever-increasing importance of user convenience.
Current fingerprint sensors all have insufficiencies, either in quality, cost or format. These flaws have so far severely affected the adoption of sensors in key mass market formats.
Significant value propsositions create the basis for future mass adoption of fingerprint based systems.
These include :
Today most mobile network operators and traditional payment industry players are investing significantly within the area of mobile payments. Turning smartphones into wallets/payment terminals requires higher quality user authentication than presently offered in simple password and PIN-code based systems.
As the offerings and value of cloud services surge, the need for secure authentication of users will increase. Such systems will need to be offered from both fixed and mobile devices. This, at high levels of security and convenience.
Around the world ID theft has grown to become a major problem. In 2010, around 7.5% of all Americans above 20 years of age were exposed to such crimes, with an average loss of $ 3,500.00.
Biometric authentication of smartphone, tablet and PC users will make significant contributions in fighting this kind of crime.