Friday 21st January 2022

Why will the biometrics market gain traction through 2027?

Published on October 21st, 2021

The global biometrics market size is anticipated to expand at a substantial rate owing to the escalating demand for accurate access control systems in commercial complexes and corporate organisations.

The industry is witnessing the extensive deployment of fingerprint recognition systems across corporate buildings for tracking attendance automatically and for ensuring precise employee identification, says
Madhura Dethe of GM Insights.In addition, numerous industry participants are focusing on the formulation of expansion strategies such as acquisitions, mergers, and product developments for consolidating their position in the market.

Considering an instance, in August 2021, Brazil advanced plans for the deployment of facial biometric recognition at its airports for identifying passengers boarding a flight. While the technology forms part of the Embarque + Seguro program, its utilisation began in the testing phase at Brasilia International Airport (BSB).

Owing to such developments, the biometrics market size is estimated to exceed a valuation of US$45 billion (€38.64 billion) through 2027, as per the most recent research by Global Market Insights, Inc.

Why will the biometrics industry grow from automotive application?

The automotive sector has a high demand for in-car biometric solutions for driver alertness detection, payments, and user authentication. A number of renowned automotive companies are incorporating biometric solutions in cars for the improvement of passenger convenience.

Considering an instance, Hyundai Motor Group is keen on the development of an iris recognition biometrics technology feature that gives a warning when the driver is not focused on driving. The technology recognises the risk of intrusion and lane departure caused by the carelessness of the car driver in advance and calls the driver’s attention with vibrations, shows warning lights, and alarm sounds.

In view of the above parameters, the biometrics market size from automotive sector is expected to register lucrative growth over the projected period.

How will rising iris recognition demand impel biometrics market growth?

Identification algorithms are useful in locating the boundaries of the iris. These algorithms then process the image for providing a distinct & concise representation of the iris pattern of an individual. The representation provides an extremely high level of discrimination between individuals.

The market is witnessing surging adoption of iris recognition technology owing to its very low rate of false match. The technology is frequently utilised where the population size is large. Iris data for nearly one billion people have been garnered for India’s Aadhaar Unique Identity program. The validation of iris identity is also utilised in the UAE’s seaports and airports.

Owing to the high accuracy provided by the technology in the user authentication process, the iris recognition market is likely to grow at a considerable rate over the forthcoming years.

How will the North America biometrics market expand through 2027?

In North America, numerous electronic device manufacturers are focusing on the integration of facial recognition and fingerprint authentication for user validation. This ensures that only authorised individuals can access the device.

Added to it, biometrics integration reduces the requirement for entering credentials, further ensuring improved confidentiality in instances of security breaches caused by password leaking. On account of the expanding consumer electronics sector, the North America biometrics industry is expected to record substantial proceeds through the ensuing years.

On the whole, the escalating accurate access control systems demand across numerous industry verticals will propel biometrics market expansion over the projected period.

The author is Madhura Dethe of GM Insights.

About the author

Having pursued a post graduate degree in English Literature, Madhura Dethe’s interest naturally drifted toward writing. Presently, she works as an associate content writer for lunchwithapunch.com and pens down insightful articles on healthcare, technology, and business trends. Her other interests comprise reading, sketching, and classical dance.

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