Industry Overview

Identity theft has become an ongoing challenge as technology has enabled businesses and consumers to communicate sensitive information over the internet or through wireless air waves.   As e-commerce and m-commerce emerge, so does the need for securing data. Biometrics, or the use of physical attributes for technology security, is expected to evolve into more than a $5-billion business by 2011, up from approximately $1.6-billion reported last year, based on a study by industry analyst Frost & Sullivan. The industry, worldwide, is expected to have a combined annual growth rate of 61.3 percent from 2006 to 2011. 

Biometrics delivers enhanced security, increased convenience and cost savings to equipment manufacturers and consumers alike. The potential biometric opportunity is to include all consumer electronic devices, including financial, credit card and banking applications, as well as access control, time and attendance, transactional authentication, wireless device security. The applications are limitless.

Accuracy of the device is critical. Most sensors available today are only capable of delivering between 16 and 32 shades of gray when defining a fingerprint. The greater number of shades, the greater the accuracy. According to the Frost & Sullivan report, there is growing concern about the accuracy levels of silicon (semiconductor) fingerprint sensors, and “the accuracy levels of low-priced silicon sensors are being challenged.  The Sonavation SonicSlideTM STS3000 uses 256 shades of gray for superior accuracy.

Accuracy is critical as m-commerce and e-commerce applications become part of mainstream day-to-day activity. Secure electronic banking, investing and other financial transactions, retail sales, law enforcement and health and social services are already benefiting from these technologies. Biometric technologies are expected to play a key role in personal authentication for large-scale enterprise network authentication environments, POS and for the protection of all types of digital content such as in Digital Rights Management and Health Care applications.

Used alone or integrated with other technologies such as smart cards, encryption keys and digitial signatures, biometrics is anticipated to pervade nearly all aspects of the economy and our daily lives.