Goode Intelligence predicts biometrics will power keyless vehicle entry, more secure payments in 2018
The global biometrics market may experience a brief “plateau” or “dip” in 2018 as “the industry pauses to catch its breath” after four years of strong growth, according to Goode Intelligence.
The market research firm’s 2018 Biometric Industry Predictions include more mobile device OEMs following Apple with 3D facial recognition systems, while further innovation in mobile device fingerprint integration to allow larger touchscreens with no physical home button could involve ultrasound or optical fingerprint sensors.
Goode says that 2018 could see integrated biometric sensors in wearables utilized for authentication applications, such as vehicle entry, and also that keyless vehicle entry applications leveraging biometric smartphones will be deployed, while biometric technology starts being integrated into luxury vehicles.
In financial services, Goode predicts biometric technology being applied across multiple channels as part of a more integrated approach to financial services security. Biometric smartcards will be used in more pilots involving more people, with live deployments possible by the end of the year, which fits with what NEXT CEO Ritu Favre and Mastercard Executive Vice President of Identity Solutions Product Bob Reany told Biometric Update in a pair of recent interviews.
During the coming year biometric technology may “creep into the enterprise to allow employees to gain physical access to buildings and to authenticate them on to the company network,” so long as they support Active Directory, according to Goode.
Biometrics, and particularly facial recognition, will also increasingly be used to support electronic identity and document verification, particularly among financial services companies with anti-money laundering (AML) and know-your-customer (KYC) obligations. Machine learning (ML) and artificial intelligence (AI) are also identified as trends to watch in 2018.
As previously reported, Goode Intelligence predicts the biometrics market for connected vehicles to grow by 96 percent CAGR starting in 2018.