Precise Biometrics algorithm solution included in JD smart locks
Precise Biometrics announced that its BioMatch algorithm solution has been integrated into fingerprint sensors made by partner and sensor manufacturer Betterlife for Chinese retailer JD.com’s latest digital door lock model.
BioMatch has been integrated with the fingerprint module placed on the handle of the lock to offer enhanced security and performance with authentication rejection rates between 0.001 percent and 1 percent, and detection time of 0.8 seconds.
The fingerprint identification area can also collect more fingerprint feature points, making it more useful for the elderly and children, who typically have low fingerprint identification rates.
In addition, the new locks meet the requirements for ultra-low power consumption preferred by the door lock industry.
The lock costs 1,000 CNY (US$136). Its release comes days after Precise Biometrics announced the extension of the partnership between Smurfit Kappa and EastCoast Solutions, Precise’s visitor management platform.
Digital lock market to reach $4.83B by 2029
The data comes from a Maximize Market Research report over the weekend saying that the smart lock market was valued at $1.87 billion in 2021, and its revenue is expected to have grown by 12.6 percent from 2022 to 2029, reaching nearly $4.83 billion.
According to the report, infrastructure development is expected to increase demand for advanced biometric systems and smart locks, particularly in China and South Korea.
The market is expected to grow due to growing security and safety concerns, increased use of smartphones and other connected devices and better functionality than traditional lock systems.
The new data indicates that the hotel industry will be at the forefront of this shift, which sharply accelerated during the pandemic.
Wireless electronic door locks in hotels, in particular, make it easier to protect rooms, enhance employee efficiency and make visitors feel safer.
Still, biometric smart locks are not infallible. A recent paper by James Cook University in Singapore showed that some models can be hacked by exploiting the locks’ wireless connectivity capabilities.
algorithms | biometric authentication | biometrics | fingerprint biometrics | fingerprint sensors | market report | Precise Biometrics | smart lock