Frustrated with having to remember and use multiple passwords? You’re not alone. More than half of respondents to a biometrics vs password survey for the latest edition of PYMNTS.com’s Digital Identity Tracker (52 percent) would rather use biometrics.
Eight in 10 who stated an authentication preference said they believed biometric alternatives are safer than passwords. Nearly 7 in 10 (68 percent) said they do not create accounts online on sites they consider to have ¨complex password requirements,¨ Gigya, which conducted the survey with Socure, highlighted in a press release about the biometrics vs password survey.
Biometrics Vs Password Survey Findings
The latest Digital Identity Tracker includes research that reveals online fraud attacks rose 215 percent in the past year.
Growing incidence and sophistication of online threats to privacy and sensitive personal data is fueling expectations of a sharp rise in demand for biometric applications. According to Technavio, the market for biometrics will more than double by 2020.
Among biometric applications, fingerprint, voice and facial recognition revenues are predicted to reach $12 billion, $11 billion and $1 billion, respectively.