Digital Lifescapes

How we verify and protect our online identities is undergoing a notable transformation. Digital identity (ID) verification has emerged as a decisive technology, bridging the gap between security and user experience across multiple industry sectors. As cyber threats become more sophisticated and government regulations grow more complex, organizations are turning to solutions that can provide robust authentication while maintaining a frictionless user experience. Digital ID Verification Market Development The digital identity verification market is experiencing remarkable growth. Juniper Research forecasts a 74 percent increase in spending, from $15.2 billion in 2024 to $26.4 billion by 2029. This significant market expansion is driven by several key advances that are reshaping our thinking about online human identity authentication. Three technologies stand out as particularly promising in enhancing the digital ID verification experience. Facial recognition has evolved from a simple mat...

The rapid growth of eCommerce has brought convenience to consumers worldwide, but it has also opened new avenues for fraudsters to exploit. As online transactions become increasingly prevalent, retail merchants face mounting challenges in safeguarding revenues and maintaining customer trust. This evolving threat of merchant fraud prevention is at a critical juncture, with emerging technologies playing a pivotal role in the ongoing battle against sophisticated fraud threats. Fraud Prevention Market Development The eCommerce boom, accelerated by the COVID-19 pandemic, has created a fertile ground for fraudulent activities. Merchants across various industries are grappling with implementing robust fraud detection and prevention measures to mitigate unnecessary revenue losses from chargebacks and order reprocessing. The stakes are high, as evidenced by Juniper Research's latest market study which forecasts the value of eCommerce fraud will rise from $44.3 billion in 2024 to $107 billio...

Across the globe, business leaders and government policymakers are exploring applications for human augmentation. These enhancements are described as the natural, artificial, or technological alteration of the human body in order to improve physical or mental capabilities. The European human augmentation market -- including augmented and virtual reality, biometrics, exoskeletons, wearables, affective computing, and other human augmentation technologies -- will reach over $62 billion by the end of 2022 and more than $100 billion by 2026. According to the latest market study by International Data Corporation (IDC), businesses are increasing their investments in these technologies, and the overall human augmentation market will grow 37 percent in Europe by the end of 2022. Human Augmentation Market Development Companies are adopting a digital-first model and adapting to new realities and work policies that require support for use cases such as remote work collaboration, virtualized presen...

Fintech startups and traditional financial service providers have seen significant upside opportunities in the payments sector. Smartphones are already an integral channel for eCommerce and Point of Sale (POS) payment transactions. The global COVID-19 pandemic accelerated the transition to mobile phones for payments. Throughout the pandemic, mobile devices were facilitating payment transactions online and in-person -- e.g. while using the Internet to shop at retail sites, or on-premises by using a digital wallet via Near-Field Communication (NFC). Remote Mobile Payments Market Development According to the latest worldwide market study by Juniper Research , the value of biometrically authenticated remote mobile payments will reach $1.2 trillion across the globe by 2027 -- that's rising from $332 billion in 2022. These transactions use biometrics, typically facial and fingerprint recognition, to authenticate remote mobile payments. This growth of 365 percent is driven by recent regul...

Following the transition from magnetic stripe to EMV (smart cards that store data on integrated circuit chips), the U.S. retail market is upgrading to contactless point-of-sale (POS) terminals. Meanwhile, 100 percent of POS terminals may already be contactless-enabled in Canada, the UK and Japan. Moreover, Visa reports that about 50 percent of its in-person transactions (outside the U.S.) are already contactless, through payment cards and mobile devices. In the U.S. market, where the EMV rollout is recent, it's estimated that 52.7 percent of POS terminals were now contactless-enabled in 2019. Contactless POS Market Development According to the latest worldwide market study by Juniper Research, the installed base of contactless-enabled POS devices will exceed 161 million by 2024 -- growing from 78 million devices in 2019. Contactless POS devices will then be about 94 percent of all POS devices in use. Juniper believes that this growth will be driven by the deployment of cont...

With password-based personal identity solutions becoming increasingly impractical, device vendors and mobile network service providers have begun implementing an alternative second factor -- using a fingerprint, iris, facial feature or vein pattern to establish an individual's identity. Biometric identifiers provide the user an additional layer of smartphone security. There is increased reliance on biometric user identification in the security industry itself -- iris and fingerprint scanning are commonplace in the U.S. market, as well as Europe and some other parts of the world. In the mobile communications arena, biometric recognition technologies are increasingly being deployed to identify mobile subscribers and to allow them to unlock their handsets, as well as being used as a method to authenticate the user when making a payment through mobile devices. Mobile Payments Market Development Juniper Research now predicts that the biggest shift in mobile payment security will...

The convenience and global reach made possible by online channels has led to the development of a broad set of digital eCommerce services. However, the accessibility of the Internet and the ability to commit fraud remotely creates an environment for cyber criminals to prosper. Meanwhile, the potential attack surface for miscreants is enormous -- about 94 billion transactions were made for remote goods purchases in 2016, which is only a fraction of the total eCommerce landscape. That said, advanced security measures are increasingly being implemented to protect against fraud carried out at physical locations. It's for these reasons that fraudsters have developed, and are continually developing, new methods to illegally siphon cash over the Internet. Online Payment Protection Market Development Juniper Research has found that retailers stand to lose $71 billion globally from fraudulent Card-Not-Present (CNP) transactions over the next 5 years. Their latest worldwide market st...

The retail and financial services sectors will continue to innovate via mobile communications. Security is a high-priority in a trust-based economy. Two-factor authentication is based around 1) something the user has (i.e. a bank card); and 2) something the user knows (i.e. a PIN number or password). If a customer needs to log in to their bank account or needs to purchase physical goods online, they may be asked to enter the registered log-in ID and PIN along with a unique 'one time password' that is either sent to the customer via SMS, or generated by a mobile app already installed on the device. Mobile Biometrics Market Development Where smartphones are used as access tools, the Bring Your Own Token (BYOT) variant of authentication can be employed, combining a personal log-in (user name and password) together with a passcode, which is sent to the end user in a software app, email or SMS. According to the latest market study by Juniper Research, G&D (Giesecke &...

Smartphone data security is growing in importance as more people are storing and accessing personal, business and financial data on their devices. Alphanumeric passwords are the common method of authentication, but can be difficult to enter accurately while on the move. Furthermore, the small screen size on smartphones -- relative to that of a desktop or notebook computer -- means that password input is more difficult, while an accidental keystroke can increase the user frustration. That said, biometric authentication is able to move beyond fingerprint scans and include a range of identifiers, from facial recognition to voiceprints, according to the latest worldwide market study by Juniper Research. Biometric Technology Market Development These methods will become part of many more consumer lives, installed on an estimated 190 million mobile devices  in 2016 -- including smartphones and wearables -- before exceeding 600 million devices by 2021. The new research found that...

There are now more than 6.4 billion mobile phones in circulation worldwide. They've evolved far beyond a simple means of two-way communications. They're now a multifaceted enabler of numerous day-to-day online activities made possible by mobile internet access. Clearly, there are both opportunities and challenges associated with this trend. As people increasingly complete more digital transactions via smartphones and other mobile devices, the need to verify their identity -- and protect it from theft -- becomes paramount. According to the latest market study by Juniper Research, the increased rollout of contactless payment services using fingerprint scanners will increase the number of biometrically authenticated transactions to nearly 5 billion by 2019 -- that's up from less than 130 million in 2015. Juniper observed that at present, only two services -- from Apple and Samsung -- used fingerprint scanners for authentication, with availability currently limited to the...

The mobile phone has long since graduated from being a device that purely enables person-to-person voice communication. The role of the smartphone is far more expansive, as it has become embedded into lifestyles -- used to surf the web, take photos, connect to social networks, get directions, etc. The proliferation and adoption of the smartphone in particular has been a game changer -- totally redefining what a personal telephone device is capable of doing for the owner -- as well as raising expectations for the user interface (UI). Handset manufacturers have had to innovate in new modes of device control that allow users to operate it without having to touch, or indeed, look at it. Moreover, as these devices enable access to a wealth of personal information about the user, new forms of security are required. Juniper Research  has found that that more than 770 million biometric authentication applications will be downloaded per year by 2019 -- that's up from just 6 million th...