Biometrics authenticates and identifies individual on basis of their physical and behavioral characteristics. Biometric system use sensors which convert biometric traits like face, iris, fingerprints to an electrical signal.
AI and biometric can be combined together to develop authentication system that can protect device against cyber-attacks and prevents fraudulent activities. AI-enabled Biometrics develop data-driven security protocols. The AI-enabled biometrics can precisely verify the individual identity based on their behavioral and physiological traits.
Global concern over the spreading of COVID-19 on surfaces in public places is unleashing rapid development of innovative biometric products that helps to assist touchless society. To maintain social distancing and to stop the spread of the virus companies have disabled fingerprint recognition system substituting with facial recognition or card based verification.
The demand has increased for facial recognition system for detecting infected individuals. Companies around the world are introducing innovative biometric authentication system that can identify the individuals even when they are wearing the face mask. The biometric market is estimated to witness growth around 10% to 12% Y-o-Y in 2019-2020. Moreover, the market will witness growth in 2021 as well, due to longevity of COVID-19 pandemic.
To enhance the behavioral biometrics AI technologies are being adopted for identifying unusual behavior intelligently and automatically and providing extra layer of authentication. Adoption of AI-enabled biometrics is increasing as this improve every aspect of the identity lifecycle.
AI enabled biometrics monitor behavioral anomalies and prevent security threats by recognizing activities by hackers and bots. AI enabled biometrics has the ability to flexibly respond to emerging fraudulent activities and it also reduces the cost of identity verification and authentication. However, AI-enabled biometrics helps in preventing the cyber threats, due to this the adoption of AI-enabled biometrics is increasing.
South Asia Pacific is expected to offer lucrative opportunities for players in the region, owing to technological advancements, increasing awareness regarding use of AI-enabled biometrics system for security purposes. North America AI-enabled biometrics market dominated in 2019, owing to the presence of key players in the region and increasing adoption of AI-enabled biometrics in various sectors for ensuring security.
The key players in the AI-enabled Biometrics market are
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global AI-enabled Biometrics market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with AI-enabled Biometrics market attractiveness as per segments. The report on AI-enabled Biometrics market also maps the qualitative impact of various factors on AI-enabled Biometrics market segments and geographies.
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