AI- and ML-driven Behavioural Biometrics Emerge as a Key Advantage in Multifactor Authentication
June 6, 2019 | Frost & SullivanEstimated reading time: 1 minute
The integration of artificial intelligence (AI) in biometric systems will play an important role in enhancing the performance of various modalities. As a major enabler of behavioural biometrics, AI is expected to find significant application in identification and authentication. AI and other technologies such as machine learning (ML) and deep learning, and the consequent development of novel business models based on new services and products, are forecast to drive the $4.98 billion market towards $11.50 billion by 2023.
“AI-driven behavioural biometrics will become the main identity authentication/verification element in two-factor or multifactor authentication,” said Industry Analyst Ram Ravi. “In the near term, businesses will increasingly use AI to aid decision-making as well as for greater behavioural pattern analysis of anomalies. In the longer term, blockchain will be used with biometrics for identity management across applications, and neurolinguistic programming (NLP) will become mainstream as financial institutions use voice processing to offer services and assistance.”
Frost & Sullivan’s recent analysis, European Biometrics Market, Forecast to 2023, presents the current and future market trends, as well as the most promising applications. It assesses whether the vendors in the space are ready to go it alone or if they will need to partner to take their business to the next level.
“Over the next few years, blockchain will emerge a powerful growth driver across the sectors of government, commercial, and especially financial applications,” noted Ravi. “Smart, connected devices are shifting customer perceptions of alternate commerce channels, and biometric market players need to have a blockchain strategy to augment their portfolios.”
Biometric vendors that are anticipated to achieve long-term growth will make the most of the growth opportunities present in:
• Offering Biometrics-as-a-Service.
• Building in-house capabilities to offer as value additions.
• Partnering with select allied technology vendors.
• Enhancing modalities such as facial, voice, and iris recognition for the financial and healthcare verticals.
European Biometrics Market, Forecast to 2023 is part of Frost & Sullivan’s global Automatic Identification & Security Growth Partnership Service program.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
Suggested Items
PC Client CPU Shipments in 1Q24 Up 33% YoY
05/10/2024 | Jon Peddie ResearchJon Peddie Research reports the growth of the global PC client-based CPU units market reached 62 million units in Q1’24, a decrease of -9.4% quarter to quarter and a 33% growth from Q1’23.
Omdia: OLED Monitor Display shipments to surge by 123% YoY as Top Brands Embrace its Technology in 2024
05/09/2024 | PRNewswireOLED monitor display shipments significantly increased in 2023, following an upsurge of 415% year-over-year (YoY), according to Omdia's Monitor Display & OEM Market Tracker. This trend is set to continue with Omdia forecasting a 123% YoY increase in 2024, reaching 1.84 million units, driven by industry leaders Samsung Display and LG Display.
IDTechEx Report: Illuminating the Future of Lidar in Automotive
05/09/2024 | PRNewswireIn the rapidly evolving landscape of Advanced Driver-Assistance Systems (ADAS) and autonomous driving, sensor technologies have emerged as a pivotal force driving innovations in the automotive industry.
Sondrel Awarded New Video Processor ASIC Design and Supply Contract
05/09/2024 | SondrelSondrel, a leading provider of ultra-complex custom chips for leading global technology brands, is pleased to announce that it has won a major ASIC design and supply contract for a next generation, video processing chip.
IDC Forecasts Slower Growth for Global Telecommunications Services Market: Could AI Help Telcos to Maintain Healthy Margins?
05/08/2024 | IDCWorldwide spending on Telecom Services and Pay TV Services reached $1,509 billion in 2023, an increase of 2.1% over 2022, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.