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Top 4 Trends Propelling the Growth of Biometrics Market Over 2021-2027

biometrics

Top 4 Trends Propelling the Growth of Biometrics Market Over 2021-2027

The biometrics market has already established its significant presence across the security landscape in a bid to combat the increasing instances of data theft, security breaches, and data hacking. The growing significance of accurate access control systems across corporate organizations and commercial complexes has instigated the deployment of biometric solutions to a great extent. The widely used biometrics technology is fingerprint recognition, which is considered ideal to ensure accurate employee identification and track attendance automatically. Besides, facial recognition is also gaining traction, especially in government organizations for tracking criminals. These organizations use facial recognition technology to compare the facial features in real-time with the existing database of blacklisted people. The growing popularity of these technologies is accelerating the expansion of the biometrics market.

According to the recent report by Global Market Insights, Inc., biometrics market size is projected to surpass USD 45 billion by 2027, considering the following trends:

Growing popularity in the retail & e-commerce industry

The mounting popularity of biometrics in the retail & e-commerce industry can be ascribed to the growing necessity of understanding in-store consumer behavior among large retailers. They are majorly incorporating analytics with facial recognition for the same and offering customized services according to individual preferences.

Quoting an instance, 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.

Increasing adoption of iris recognition technology 

Iris recognition technology is witnessing heightened demand as 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 patterns.

In addition, iris recognition has a very lower false match rate and is primarily used where the size of the population is large. For instance, in India, iris data from over one 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.

Rising demand from the automotive sector

The automotive makers are now increasingly integrating their vehicles with in-car biometric solutions for user authentication, driver liveness detection, and payments. These systems allow automakers to enhance passenger convenience. For instance, voice-enabled access control technology helps in addressing car thefts by enabling accurate user identification.

Another technology that is in huge demand in the automotive sector is iris recognition. Hyundai Motor Group, for instance, is working on adding an iris recognition feature that sends an alert when the driver is not attentive. It detects the risk of intrusion and lane departure caused by the driver’s carelessness in advance and calls the driver’s attention with cluster warning lights, alarm sounds, and vibrations.

Thriving electronics industry in North America

The ongoing expansion of North America’s consumer electronics sector is positively impacting the biometrics industry as electronics manufacturers are now integrating facial recognition and fingerprint authentication features in their devices. This helps in ensuring that the device is being accessed only by authorized individuals.

The integration of biometrics eliminates the need to enter credentials, providing better confidentiality in the event of security breaches caused by password leakage. Besides, the growing adoption of biometric systems in the government and defense sector is also favoring market growth. For instance, the application of voice recognition systems in government facilities enables seamless identification of individuals using their unique voice patterns.

The rising demand for accurate access control across corporate offices coupled with the growing necessity for identification solutions in the automotive sector, BFSI, government organizations, etc. is largely driving the growth of the biometrics market. Increasing adoption in the consumer electronics sector and continuous technological advancements are further strengthening the business space.

metal replacement

Metal Replacement Demand to Rise Across the Electronics Sector in the Coming Years

Over the past few years, manufacturers across the automotive, aerospace & defense, energy, and electronics industries are showing enormous interest in metal alternatives to obtain higher design freedom, improved performance and significant weight reductions. Metal replacement materials largely help in speeding up installations and enhancing the mechanical properties which in turn offers greater durability and reduces the overall cost. The growing prominence of these solutions is expected to proliferate the expansion of the metal replacement market in the ensuing years.

The industry is observing lucrative growth opportunities in the electronics sector on account of the elevated sales of consumer electronics, especially mobile phones, across the globe. According to the Consumer Technology Association statistics, revenue from the retail sales from the consumer technology industry in the U.S. will reach USD 461 billion in 2021, representing a rise of 4.3% year on year.


 

On the other hand, China is showing promising performance with regard to cell phone exports. According to the data published by the General Administration of Customs of China, cell phone exports in the country accounted for USD 22.9 billion during the first two months of 2021, representing year-on-year growth of 49.2%.

Such a considerable rise in the demand for consumer electronics goods is subsequently driving the adoption of metal replacement solutions. They find important usage in mobile device enclosures, circuit boards, batteries, sensors, audio speakers, etc. to address engineering challenges and improve the performance and reliability of products. For instance, high-performance polymer solutions offer high reliability, versatility, and design freedom for next-generation electronic devices.

The numerous product advantages are essentially driving its demand in the aerospace industry. The high-performance polymers are enabling aerospace companies to enhance the performance of their aircraft by replacing the metals. The adoption of these polymers is being driven by the growing necessity for fuel-efficient and eco-friendly aircraft. In addition, they also offer greater reliability, reduce assembly times and minimize operating and manufacturing costs.

As a result of the high product demand in aerospace, several eminent market players are inclined on developing innovative solutions designed according to the industry needs to gain a competitive edge in the market. To illustrate, in 2020, Victrex collaborated with French aircraft manufacturer Daher to develop a 176-ply laminate structural panel for aircraft with a 32 mm thickness, based on VICTREX AE™ 250 LMPAEK thermoplastic composite. According to the company, this new solution will expedite the aircraft manufacturing process and improve efficiency.

Speaking of the application of metal replacement in the transportation sector, it is being extensively used to make vehicles lighter and more fuel-efficient. Metal alternatives like polymers, plastics, composites, etc. not only enhance fuel efficiency but also improve durability and driving comfort through reduced noise and vibration.

Quoting an instance, in 2020, AIMPLAS, the Plastics Technology Centre, contributed to the European Mat4Rail project involving the manufacturing of new materials and components for the railway of the future. The initiative was aimed at reducing the weight of railway vehicles by replacing metal components with composite materials to enhance the vehicle capacity and passenger comfort. The role of AIMPLAS was to develop new hybrid resin formulations offering better resistance to flame propagation and to be used in fiber-reinforced polymers.

Rising demand for material that can enhance performance and offer greater freedom during manufacturing has impelled the demand for metal replacement solutions across sectors like electronics, aerospace, automobile, etc. Besides, technological developments in these solutions are further driving their demand and is expected to accelerate the business growth in coming years.