May 10, 2015
Everybody knows about biometric authentication from the movies - the grand heist, the safe locker with retina scan and fingerprint auth. Well, a lot of that sci-fi stuff is now a reality. The market size for Biometrics is expected to reach $24.59 Bn in the next six years, according to Grand View Research. This is attributed to numerous organizations adopting biometric technology for additional security. Moreover, there is increasing demand in consumer electronics to enhance the customer experience which is further expected to drive the biometrics technology market over the next six years.
According to Biometrics Research Group, mobile commerce adoption will accelerate due to the impending wide-scale integration of biometric technology into the smartphone. Apple’s implementation of the Touch ID fingerprint sensor in the iPhone 5s brought with it a renewed interest in biometric technology. Here are some companies that are doing some interesting work with biometric payments and authentication.
It is estimated that the Electronic Access Control Market will reach $16.3 billion by 2017 and is increasing at a CAGR of 7% according to Reportlinker.com. On December 2nd 2013, Zwipe launched a biometric access card using fingerprint touch sensors with the help of a firm called Fingerprint Cards. The new card is ISO 14443 compliant and is multi-functional.
This is a video that shows you what Zwipe is ...