The palm vein scanner market is set to grow from USD 0.77 billion in 2023 to USD 4.73 billion by 2032, with a CAGR of 22.36%. Key drivers include advancements in biometric technology and increasing demand in healthcare, banking, and government sectors. Optical Imaging and hardware components dominate, while North America leads regionally. Innovations like…
Identity theft has surged significantly in H2 2024, with impacts seen on deposit accounts. SentiLink reported a rise from 2% to nearly 8% in identity fraud incidents. Entrust and ConnectID are implementing advanced biometric solutions for fraud prevention, enhancing user onboarding processes in various sectors, while ID.me reports widespread use of its verification services in…
Iris ID has launched the IrisAccess iA1000, a dual-modal biometric access control device featuring iris and facial recognition. Designed for diverse budgets, it includes advanced functionalities like Wi-Fi, PoE, and mobile credential support. The growing biometric access control market, projected to rise significantly, highlights the need for innovative security solutions, against which Iris ID aims…
Serenity has launched the sAxess App, the first biometric-only access app, available on the App Store. Eliminating passwords, it enhances security through fingerprint authentication and secure cryptocurrency management. As breaches increasingly impact applications, this app addresses a critical need. The market for biometric solutions is expanding, supporting its relevance in today’s digital world. Serenity has…
A U.S. court has approved a settlement in Clearview AI’s litigation on biometric data, granting claimants a 23% stake in a potential IPO, estimated at $51.75 million. Clearview’s facial recognition tech improves FBI investigations of online child abuse cases. While concerns over opt-out practices linger, the settlement allows continued operations under established agreements with law…
The AFIS market, using biometric technology for fingerprint recognition, is projected to experience moderate growth driven by rising security demands in various sectors. Increasing digitalization, government support for e-governance, and advancements in telecommunication are key growth drivers. North America remains the largest market, with ongoing investments in technology expected to sustain revenue growth through 2032….
The voice biometrics market, valued at USD 1.85 billion in 2023, is projected to reach USD 15.69 billion by 2032, growing at a CAGR of 27.1%. This growth is fueled by the rising demand for secure authentication in various sectors, particularly BFSI. However, challenges such as high costs and emerging fraud techniques like deepfakes threaten…
The biometric payment market is projected to grow from $9.89 billion in 2024 to $45.99 billion by 2035, at a CAGR of 18.12%. This technology uses physical and behavioral traits for secure transactions, gaining popularity due to smartphone use and the need for enhanced security amid increasing cyber threats. The global biometric payment market, valued…
The Identity and Payments Summit highlighted the merging of identity and payment systems, focusing on digital wallets and mobile driver’s licenses (mDLs). With 59% wallet usage among consumers, the trend shows a blurring of lines between payments and digital ID. Interoperability remains a concern, particularly for mDLs. Insights on biometrics suggest they play a crucial…
U.S. CBP is set to enhance its iris recognition technology usage, increasing its application to 100% in border apprehensions. Iris ID, partnered with the agency for about a decade, provides reliable biometric identification. The stability of iris scans over biometric life stages offers significant advantages, though privacy concerns about mass adoption persist. The U.S. Customs…
