FB pixel

Advances in contactless biometrics, digital ID transforming security industry: HID

Advances in contactless biometrics, digital ID transforming security industry: HID
 

Supply chain issues, advances in contactless biometrics, and the accelerated adoption of digital ID are among the key factors transforming the security industry, according to HID’s 2023 State of Security and Identity Industry Report.

HID surveyed more than 2700 partners and end users, to get input on “the most pressing topics facing the industry, in pursuit of collective and continuous improvement.”

Unsurprisingly, in a post-pandemic economy, the number one factor facing the security sector was disruptions in the supply chain. Three quarters of respondents said they had been impacted by supply chain issues in 2022, and half feel unsure things will improve in 2023.

The report makes strong statements about digital identity and contactless biometrics. “In the modern world, trusted ID is increasingly a digital phenomenon,” it says, “from passports to student IDs and corporate credentials. This is changing the way security operates. A digital ID is an extension of physical identity and offers a new way to securely verify who we are.”

COVID-19 was also a factor in driving adoption of digital IDs, with an increased demand for contactless transactions. Mobile access, improved digital infrastructure, and the use of mobile wallet apps were also drivers. With Amazon, Google and PayPal moving toward digital wallets, growth is expected to increase to 52.5 percent of transaction value in 2025.

Biometrics will address fraud, become standard

Fingerprint biometrics, facial recognition and other biometric indicators will “become the standard of today’s cloud-based ID management systems,” the report says, forecasting ample economic growth.

“The worldwide market for biometrics is expected to reach $136.18 billion by 2031. And the global facial recognition market, valued at $3.83 billion in 2020, is predicted to reach $16.74 billion by 2030.”

The report calls biometric technologies “a major break from more conventional means of access control,” and projects the proliferation of fingerprint and facial scanning tools across sectors.

Respondents said fraud and the vulnerability of traditional passwords were among their chief concerns and reasons for implementing biometrics.

Hybrid workplaces impact ID

HID’s report also identifies sustainability and hybrid workplaces as factors shaping the security landscape. In the case of the latter, work-from-home or hybrid models have meant higher demand for reliable cloud-based access management. “Identity-as-a-service (IDaaS) is quickly becoming the expectation,” it says.

“The identity access management (IAM) market is expected to grow at a 22.7 percent compound annual growth rate to $41.9 billion by the end of 2031. As such, SaaS-delivered identities represent huge opportunities in the security industry.”

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

Anticipation for Metalenz and Samsung’s answer to Face ID mounts

After Samsung and Metalenz collaborated to incorporate Samsung’s Isocell Vision 931 image sensor into Metalenz’s Polar ID imaging technology, Mashable…

 

Germany beefs up border security ahead of UEFA Championship

Germany has been ramping up security measures such as border checks and CCTV surveillance in preparation UEFA European Football Championship…

 

Inverid and Cybernetica team up to secure digital ID, signatures with biometric MFA

A new partnership has been formed by Inverid and Cybernetica to combine the NFC ID document-scanning capabilities of the former…

 

Vision-Box unveils new Service Design platform for travel experience enhancement

Vision-Box, an Amadeus company known for its biometrics-based travel offerings, has introduced its latest service innovation: Service Design, which aims…

 

Moldova’s first digital ID app sees 24K downloads in five days

Moldova’s first digital identity wallet was downloaded over 24,000 times within the first five days, causing temporary glitches due to…

 

Australia and Japan showcase cross-border verifiable credentials

In recent years, Australia and Japan have both launched digital identity initiatives allowing their citizens to verify themselves online. The…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events