One More Time
As we start the week, yea, it’s time for another market projection report in Biometrics. Last week, on almost a daily basis, we looked at the market for hand geometry recognition and iris recognition. Today, we look at a combination of these technologies into what is known as “multimodal” biometric solutions.
This simply means that two or biometric solutions are used together to create a multiple security solution. It can get a lot more complex than that, and we will look at that in a different posting, in a later time. OK, so what are the projections? Well, it is predicted that multimodal biometric solutions will reach $5.45 billion by the year 2017. Some of the reasons cited:
*Huge demand from the North American, European, and Pacific Rim geographic regions;
*Big acquisitions of other biometric firms (some of these include the Apple buyout of AuthenTec, and Morpho’s buyout of L-1 Identity);
*It appears that it is two level authentication which has the highest market demand right now.
Yea, these are some general assumptions, and I have own reasons why multimodal solutions will even take off more than predicted than what this report says. For instance:
*The biggest advantage of multimodal solutions are that they can very easily replace passwords. Given the increased security policies of businesses and organizations, remembering passwords is horrible. Thus, the Post It Note syndrome, where employees write their passwords down on sticky note, and attach it to their monitor. Passwords are also costly to reset (something like $300/employee/year);
*Given the advances in iris recognition and vein pattern recognition, the demand for multimodal solutions will pick up even more. These are non contactless biometric technologies, and as the technology has evolved, so has the miniaturization of these technologies. For instance, they work great for smartphone and wireless apps;
*As biometric technologies advance, so does the price decline as well. Compared to perhaps just a couple of years ago, the cost for multimodal solutions has greatly decreased, so that so even the small businesses can afford them very readily now;
*People are now realizing that just one line of defense is not enough. You need multiple layers of it to truly fortify your place of business or corporate network/intranet, even if it means using multiple Biometrics (though using different types of security technologies would be much more preferable).
The report indicates that even three level factor biometric authentication is used (where three different biometric technologies are used in conjunction with each other), but these more used exclusively for the Fortune 500 businesses and organizations.
Even four level and five level factor biometric authentication is used, but such extensive layers are used mostly for high level security such as nuclear plants and military installations. My thoughts? I agree with the report on the two level factor biometric authentication, that this will be the primary solution utilized by the small to medium sized businesses.
Truthfully, as long as the business owners are vigilant enough, and the employees abide by the security policies, this should be enough. Plus it is also easy enough to understand, it is cost effective, and easy to deploy and train end users on.