Abstract
NEW RESEARCH REPORT BY MERCATOR ADVISORY GROUP PREDICTS MARKET FOR BIOMETRICS
SUPPLIERS TO APPROACH $7 BILLION BY 2010
Mercator Advisory Group research shows that the market for all forms of
biometrics from fingerprint scanning to voice verification is growing and
anticipates that the global revenues for biometrics will approach $7 billion
by 2010. This report examines the role of biometrics in payments both as a
single source of authentication or as an additional authentication factor.
"Biometric technology will continue to grow in adoption as an authentication
technique," states Melanie Broad, Analyst in Mercator Advisory Group's
Emerging Technologies Service and author of this report. "Implementations of
biometrics across the board have been slow but steady. However, biometrics
will have an important role to play in the future as the technology continues
to be used as a second form of authentication for online authentication, ATMs,
and in devices such as PCs, laptops and cellular phones."
The report looks at the market opportunities for biometric authentication with
regards to payments and reviews the various biometric scanning technologies
available. Biometric adoption is forecasted out to 2010 with consideration
given to different biometric technologies. The report also examines the
different adoption paths of contactless terminals and biometric readers at the
point of sale.
Both the market for single factor biometric authentication and multi-factor
biometric authentication are examined with an eye to the challenges and
opportunities the market segments will face. Among other hurdles, the problem
of distribution is discussed on both the merchant and consumer side.
The report identifies current implementations and technologies including a
look many of the stakeholders in the competitive landscape. These
stakeholders include biometric vendors and terminal manufacturers embedding
biometric features into their POS devices.
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