What’s Next for Biometrics Technology?
Ten years ago, Biometric technology was a very small industry. The sector has grown tremendously in the past few years. In 2018, biometric technology accounted for US$ 14.6 Bn. The CAGR growth is expected to be 16.2% between 2019 and 2027. By 2027, the market value of the sector will be a whopping US$ 55.4Bn.
Modern devices like smartphones are already using this new technology. Pioneer companies such as Next Biometrics have invested in ensuring biometric technology is embraced by a wide number of industries and consumers.
In a Next Biometrics event, Trustech intends to showcase its latest fingerprint sensor technology that can be used on dual-interface biometric cards. The event is in Cannes, France, between November 26 and 28.
How the Technology Works
In November 2019, Infineon and Next Biometrics developed a joint reference design for biometric cards. The reference incorporated all the elements necessary to build and make a smart card. The card with an embedded fingerprint sensor helps card makers simplify and speed up their production processes. The new Trustech technology aims to leverage the above partnership.
In the reference partnership, included are a biometric module, an operating system, and a secure element. The operating system comes with biometric applets, payment applets, and a method to laminate during card manufacturing. In the end, the system allows biometric smart card payments. The false rejection rate with this partnership falls below one percent.
The biometric card module will operate together in compliance with the standard ISO/IEC 14443 NFC range. The new advancement offers a better user experience. It only uses energy from the terminal, which comes with superior capability to harvest power as well as manage it. Next says that its products comply with standard card manufacturing rules. The firm uses cold lamination technology to built its sensors. However, the sensors can be used with hot lamination procedures too.
What does the future hold?
According to Alain Faburel, Next Biometrics made significant steps to get some IP related to the firm’s modules in 2019. The modules are for the smart car sector. Alain, who is the Chief Sales and Marketing Officer at Next, added that the firm is looking to improve the refining of its technology together with its partners in the smart card network.
Next’s revenue grew to reach US$1.9 million in 2019. This is a 42% growth compared to the previous year. The firm also saw its U.S tier 1 customer bracket reduce in its third-quarter results of 2019. Just before the results announcement, Next named Peter Heuman as its new CEO.
The Norwegian company launched two products for the access control market. The One Touch Access 110 and 115 products are designed for superior integration into time and attendance terminals. The two are also applicable for access control readers, and door locks, among other devices, used to secure physical access. The company announced it wants to broaden its base to reach and stake in the access control market.
Conclusion
Fingerprint sensor technology is now broadly used on budget smartphones. The technology gives better and accurate results. The false rejection rate keeps on falling, which makes the technology more reliable and secure. The scanners used are more alternatives to remembering user names and passwords. The compliance of the new biometric technology tools with ISO/IEC 14443 NFC means that firms handling sensitive data become more confident to use this technology. The improved technology is sure to become more common and an essential tool in our everyday lives.