Terrorism and cybercrime have increased the need for biometrics as a multi-factor authentication method.
The COVID pandemic has promoted the adoption of facial recognition as a contactless method of confirming identity..
Vein scanning is considered one of the most secure and consistently accurate options for biometric authentication, especially when compared to fingerprint and facial recognition..
“Prices for biometric access control systems range from a total of $2,500 to $10,000 per door when you factor in the biometric scanner, electronic locking system, software integration, and installation,” according to VIZpin..
In 2020, it was estimated that 80 percent of active phones in North America, Western Europe, and Asia Pacific were incorporated with biometric authentication systems.
In 2022, the global biometric system market was valued at approximately 43 billion U.S. dollars and was forecast to double its size by 2027.Jul 7, 2023.
As noted above, fingerprint scans are accurate at least 98% of the time at worst, with ideal outcomes topping out around 99.91% accuracy.
However, biometrics overall do not meet NIST's standards for accuracy.
NIST's ideal miss rate is 0.00001% or one error in every 100,000 scans..
Sample sizes need to be large enough to capture large scale image quality variations.
Probability of detection with the highest score in a gallery of 10,000 fingerprints is 90% and for face it is 77% for the best tested face recognition system..
Efficacy rates: Efficacy rates refer to the overall accuracy of a biometric authentication method.
This can be measured by calculating the false acceptance rate (FAR), false rejection rate (FRR), and crossover error rate (CER)..
A look to the future of biometric authentication
In the years ahead, this will become increasingly sophisticated as consumers put more information into their devices – health data like blood pressure, for example.
With this data, multi-factor authentication (MFA) patterns that are unique to individuals will improve..
Iris scanning and retina scanning are the most expensive biometric technologies, while facial recognition and voice recognition are the least expensive.
The cost of biometrics is also affected by the size of the system..
Vein scanning is considered one of the most secure and consistently accurate options for biometric authentication, especially when compared to fingerprint and facial recognition.Jun 27, 2022.
The biometric technology market is estimated to grow to $68.6 billion by 2025, according to MarketsandMarkets.
This growth can be attributed to the technology’s convenience, security, and scalability.
But in spite of these benefits, this security technology can be costly.
What Is Biometric Technology? .
Cost is also an important factor to consider while choosing a biometric recognition system.
For high security applications, multi-factor authentication or multi-modal biometric implementation can be considered, while low security applications can be implemented with single biometric modality.
