Top 10 trending Biometric technology for 2022
The last two years showed how biometric technology positively impacts our daily lives. The biometric usage in healthcare, banking, cloud computing, and web apps made it possible to reach the technology into our daily lives. Biometric technology has grown as an inevitable technology in today's digital ecosystem, and like every other digital technology, it is immeasurable to predict its future exactly. However, some research in front of us suggests that the biometric market would continue to rise steadily.
According to the latest study by Imarc market research, the biometric market expects to grow at a rate of 17.5% CAGR over the period 2022-2027. Let's take a look at some of the most cutting-edge technological developments that will shape the future.
The effects of COVID-19
Undoubtfully we can say that the pandemic altered people's perceptions about utilizing technology for good. Biometric technology has played a role in combating the pandemic and will continue to do so ahead. It has evolved as the most convenient security access control method for personal and corporate applications, especially contactless biometrics.
In certain situations, contactless biometrics was a life savior in the healthcare industry, as they reduced the common touchpoints during patient and staff authentication while simultaneously increasing security. The same goes for corporate offices and public safety.
Apart from these, biometric with cloud computing and web apps eased the new norms: work from home, hybrid working, remote working, cloud kitchen, etc. Also, currency transfer reduced considerably, with digital wallets and biometric payment cards taking their place. Obviously, biometric will find more applications in many sectors. We can only predict a few applications that will be a trend in the near future. Who knows what the next wave could bring, right?
The top 10 trending biometric technology
These are some of our handpicked trending technology for 2022 and beyond.
1. Biometric payment cards will become mainstream.
According to the Smart Payment Association (SPA), 2022 is a big year for biometric payment cards. A lot of companies are going to roll out payment cards this year. The contactless payment trend is the fuel for this drastic change because people prefer biometric payment cards; they may even switch banks for these cards. It is now widely used in some developed countries, and soon it will rain around the world.
Biometric payment cards can bring security to payment systems and better financial inclusion among the generic public.
2. Biometric and Cryptocurrency
With the plan to make cryptocurrency more accessible to more people, many platforms have started using biometric authentication for onboarding. Soon, many cryptos will use biometric authentication along with other authenticating credentials. Various platforms use facial ID, iris scanners, and fingerprint scanners as biometric IDs.
In the near future, with biometric authentication, we can expect a fully automated and remote onboarding to crypto platforms. The biometrics will enable cryptocurrencies to comply with international Know Your Customer and Anti-Money Laundering regulations.
3. EU digital identity framework will get ready
By September 2022, all countries under the EU will submit a toolbox that contains architecture, standards, and guidelines for best practices of the EU digital identity that can use for the digital wallet. The electronic ID will allow cross-border payments and ID verification throughout the EU's 27 member countries. The electronic ID is an additional ID that links various documents and credentials except for the medical data.
A digital wallet app will link to the electronic ID that enables people to use a single wallet across all EU countries. This automated framework will allow companies and government agencies to authenticate customer identities and government-issued documents.
4. Wave and pay with Amazon One
Amazon One is changing the payment systems. Recently Amazon One was implemented in Dalla Love Field airport, easing the payment at the airport. Amazon One uses palm vein scanners; customers need to wave their palms at the scanner to make the payment. This contactless payment method is now in use at some airports and Amazon retailers, and it will be mainstream in 2022.
The Amazon One offers complete air travel solutions, from ticket booking to lounge payment, hospitality. Integrated with the Amazon Web Services (AWS), in the year 2022, we can see Amazon's contactless payment service throughout the retail sector.
5. Biometric at airports
We may see more usage of biometrics like fingerprint, face recognition, palm vein scanner, and iris scanners at more airports. The technology developed by SITA enables passengers to use their faces as the boarding pass. It allows contactless verification simultaneously seamless boarding and checking.
New Zealand is already using e-gates that use biometric scanners to match the face in the E-passport. Similarly, India will soon roll out face recognition boarding at four airports as the first step towards completely automating the boarding.
6. Staffless stores
Moby Mart, Amazon, and Alibaba have tested and piloted staffless stores. Nonetheless, the system is now in the testing phase. 2022 will be the year in which staffless stores become popular. The customers and stores connected via smartphone applications, and face recognition powered by AI will detect customers in stores.
The consumer and the items purchased can identify by a real-time monitoring system using a set of tracking cameras. The payment will be debited from the customer's account later before leaving the shop.
7. Liveness detection to fight cyberattacks
It is a sad truth that cyberattacks in the age of AI and machine learning are more powerful and sometimes able to crack biometric authentication. The rate of these attacks will increase in 2022, as many companies might use biologin when they reopen. Companies will deploy liveness detection alongside current biometric authentication systems to combat cyberattacks. It will engage in implementing additional hardware-software facilities to the existing system.
8. Multimodal biometrics
Because cyberattacks and presentation attacks or fake biometric presentations are becoming more common thus multimodal biometrics is becoming more critical. It is adding one extra layer of biometric to another biometric modality. Multimodal will replace traditional security measures, particularly in the financial service sector.
9. Changing algorithm
The biometric algorithm of various modalities is changing due to pandemic circumstances. Face recognition algorithms have improved to recognize people wearing masks and cosmetics. This algorithm update might improve the security and accuracy of border security and access control systems. Soon, surveillance systems under law enforcement agencies will replace existing facial recognition with new algorithms.
Similarly, contactless fingerprint technology is a new trend in the biometric market. Apart from these, facial recognition will evolve to lie detection and age verification that might be helpful for investigation agencies, retail stores, and the health sector.
10. Cloud-based and web biometrics
Biometric devices will go next level for web and cloud-based applications. Biometrics such as facial recognition and fingerprint scanners will help in cybersecurity and tracking work because many organizations will continue to operate remotely. It has the potential to boost employee productivity and give businesses more accountability.
The above list is our handpicked biometric trends that we expect will go mainstream in 2022. Some of them are already here but under development or starting stage. 2022 will be a turning point for such technology.