Growing demand for accurate access control systems across corporate organizations has boosted the need for biometric solutions.
The most common biometrics solution is fingerprint recognition, which is considered ideal to ensure accurate employee identification and track attendance automatically.
Facial recognition, meanwhile, is also gaining traction, especially in government organizations for tracking criminals.
These organizations use facial recognition technology to compare the face features in real-time with the existing database of blacklisted people.
The growing popularity of these technologies is accelerating the expansion of biometrics market, which is forecast to top $45 billion by 2027, according to a recent report by Global Market Insights.
A number of trends are driving this growth.
Retail & e-commerce demands
Demand for biometrics in the retail and e-commerce industry is rising because retailers want a better understanding in-store consumer behavior. Retailers are incorporating analytics with facial recognition so they can offer customized services based on individual preferences.
In 2020, CyberLink Corp. collaborated with NTT DATA to deploy a remote retail solution based on the former's FaceMe® facial recognition engine, at an unstaffed concept store with Tokyu Hands in Shibuya. According to the company, this integrated solution combines remote serving, anonymized AI data analytics and digital information monitors to facilitate a strong self-service customer experience.
Iris recognition technology is gaining in popularity because it offers higher accuracy in the process of user authentication.
The identification algorithms used in this technology locate the boundaries of the iris and processes the image to deliver a concise and distinct representation of individuals' iris pattern.
In addition, iris recognition has a very low false-match rate and is primarily used where the size of the population is large. For instance, in India, iris data from more than 1 billion people has been collected for the Aadhaar Unique Identity program.
Similarly, iris identity validation is used in the air and seaports of the UAE.
Automakers are now increasingly equipping vehicles with in-car biometric solutions for user authentication, payments and to measure driver alertness.
These systems allow automakers to enhance passenger convenience. For instance, voice-enabled access control technology helps prevent car thefts by enabling accurate user identification.
Another technology that is in huge demand in the automotive sector is iris recognition. Hyundai Group, for instance, is working to add an iris recognition feature that sends an alert when the driver is not attentive.
It detects the risk of an unplanned lane departure and warns the driver using warning lights, sounds and vibrations.
The rising demand for accurate access control across corporate offices coupled with the growing necessity for identification solutions in the automotive sector, government organizations and more is largely driving the growth of biometrics market.