Exploring the Top Biometrics Trends Set to Revolutionize the Industry by 2023
Biometrics is a rapidly growing industry that is experiencing a significant shift towards innovative and advanced technologies. With the increase in adoption of biometrics in various sectors such as healthcare, government, and financial services, the industry is poised for massive growth in the coming years. In this article, we’ll explore the top biometrics trends that are set to revolutionize the industry by 2023.
Trend 1: Facial Recognition Technology
Facial recognition technology has been around for some time, but it is only in recent years that it has gained widespread acceptance as a secure means of biometric identification. According to a report by Mordor Intelligence, the global facial recognition market is expected to grow from $3.85 billion in 2018 to $10.19 billion by 2025, at a CAGR of 16.6%.
Facial recognition technology has numerous applications in various industries, including security, retail, and healthcare. In security, facial recognition is being used to identify potential threats in public spaces such as airports, schools, and hospitals. In retail, it is being utilized to enhance the customer experience by allowing for personalized shopping experiences. In healthcare, it is being used to ensure patient safety and improve the accuracy of medical diagnoses.
Trend 2: Contactless Biometrics
The pandemic has emphasized the need for contactless biometrics technologies that minimize the risk of disease transmission. Contactless biometric technologies use modalities such as facial recognition and iris recognition to identify individuals without requiring them to touch a physical device.
This is especially relevant in industries such as healthcare, where contactless biometrics can help prevent the spread of diseases while maintaining the highest levels of security. According to a report by ResearchAndMarkets, the contactless biometrics market size is expected to grow from $8.8 billion in 2020 to $15.3 billion by 2025, at a CAGR of 11.8%.
Trend 3: Behavioral Biometrics
Behavioral biometrics tracks unique human behavior patterns, such as typing rhythms, voice patterns, and mouse movements. This technology is being used as an additional layer of security in high-security environments, such as banking and finance, where traditional security protocols may not be sufficient.
According to a report by MarketsandMarkets, the behavioral biometrics market is expected to grow from $871 million in 2020 to $3.9 billion by 2025, at a CAGR of 34.2%. This growth is driven by the increasing demand for enhanced security solutions that can adapt to dynamic environments and the ongoing development of artificial intelligence and deep learning algorithms.
Trend 4: Emerging Modalities
While facial recognition and contactless biometrics continue to dominate the biometrics industry, new modalities are emerging that promise to revolutionize the industry. These include palm vein recognition, gait analysis, and earlobe geometry recognition.
Palm vein recognition, for instance, uses near-infrared light to capture an image of the veins in an individual’s palm, providing a highly secure and accurate means of identification. Gait analysis, on the other hand, tracks the way people walk, offering a unique biometric modality that is less susceptible to spoofing attacks. Earlobe geometry recognition uses a 3D image of an individual’s earlobe to create a unique biometric template that offers high accuracy and security, making it ideal for use in high-security environments.
Conclusion
The biometrics industry is evolving rapidly, with new trends and technologies emerging all the time. The four trends we have explored, including facial recognition, contactless biometrics, behavioral biometrics, and emerging modalities, are set to revolutionize the industry by 2023. As these technologies become more widely adopted, they are likely to transform various industries significantly, including healthcare, retail, and finance. Those who are willing to invest in biometric solutions, including businesses and governments, will reap the benefits of increased security, improved efficiency, and greater convenience.
