The evolution of technology from paper to electronic to digital and now biometric has played a crucial role in shaping the economy. This evolution has resulted in enhancing the operational capabilities of various industries, such as automotive, manufacturing, and construction, in terms of enhanced safety measures, connectivity, cost reduction, and convenience for users. Such enhancements in technology have been seen in the human interactions occurring in the digital world. In the context of human interactions, it is necessary to identify and prove in ways who one claims to be. This is where identification technologies, such as biometrics, come into picture. Biometric refers to the science of identifying the unique physical and behavioral characteristics, which an individual inherits from his/her birth. The biometric technology is broadly referred to the art of capturing, processing, and measuring the individual’s characteristics electronically and comparing the collected records with existing records.
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Biometric based systems have caught the attention of nations and global industrial ecosystem and are regarded as a technology which no company or government can afford to ignore. It is considered to be a deterrent to people with malevolent intentions. Biometrics has helped to deliver secure services in various circumstances. It has helped to identify known suspects traversing crowded security areas, such as airports, railway stations, and others. With the development and implementation of advanced innovative technologies and concepts, such as biometrics, in field of anti-terrorism protection, terrorist attacks have been somewhat reduced.
The use of biometrics across various industries is majorly due to a higher demand of enhanced safety and security of the personnel. Among the changing paradigm of the consumer as well as enterprise market, a significantly higher demand of biometrics from the consumer goods segment such as from smartphones, laptops, and tablets is majorly impacting the growth of the biometric industry. Another factor driving the growth of this market is the use of biometric in anti-money laundering coupled with an increased use of biometrics in the era of blockchain. This is majorly due to the increasing thefts, and cyber-crimes leading to privacy concerns and a huge risk of data breaches.
The ever-increasing demand for securing the identity of any individual and identifying the individual for any crimes has led to a surge in demand of biometrics in government application. The reason for such large market penetration of biometric systems is the huge deployment in law enforcement, homeland security, border security, and forensic department, among others. To curb the issues such as illegal immigration, any user ID issue, and thefts, have largely led to the adoption of biometric systems in this application sector. Biometrics has helped the government sector to fight against these crimes in a more sustainable manner. Another growing application sector is the banking and financial institutions which is increasingly using the biometric systems for the user identification. Moreover, factors, such as the advancement in smartphone technology, growing importance of connectivity and safety, and online banking, have significantly transformed the banking and financial sector. Every user is almost connected to the internet everywhere, and this has led to ease in the banking process for the bank as well as consumer.
The latent fingerprinting spoofing, coupled with the risk of data breaches and privacy concern, is one of the pressing matters to be looked upon in the current scenario. Since biometric technology uses human behavior pattern as a parameter, it has proved its superiority over traditional and conventional recognition methods by keeping the data secure and encrypted. However, damage to the biometric trait, such as distorted, smudged, or hampered fingerprint can create difficulty in analyzing the identity of any individual. If the biometric data provided is secure and encrypted, the benefits of biometric authentication and identity can be utilized to its fullest. However, information security incidents where hackers reach the repository of biometric data are additional potential threats to the biometric market.
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The global biometric authentication and identification market has been categorized into several modalities, namely fingerprint, facial, eye, vein, palmprint, voice, handwritten/signature, and others. The wide availability of such unique characteristics and more reliability, which the physical and behavioral characteristics offer, has helped in the user authentication and identification market to expand at a reasonably high rate.
The global biometric authentication and identification market has been categorized into six key application areas, i.e. government, banking and financial institutions, enterprise, healthcare, commercial, and others. Owing to the increasing crime rate and fraudulent access to high security areas, the use of biometrics in various forms of authentication systems is rapidly gaining momentum. Market areas, such as criminal investigation (forensics), banks, and penitentiaries, among others, have benefited the most with the emergence of biometric technology in access control systems. The modern-day biometric solution eliminates the need for managing access through keys and locks and presents the users with option of automating the authentication and various access control features.
The large integration of biometric systems in the government sector is due to its heavy use for criminal investigation. These systems are widely being used in the border security as well to reduce the risks of illegal migrants entering the country borders. The use of biometric data can be taken back to the days of World War I, where government used to keep paper records of basic physical attributes (such as height and color of the hair or eye). The use of such unique characteristic has helped in identifying and eradicating the aftermath of any heinous crime.
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