Strategic Analysis of the Global Quantum Biometrics Market, Forecast to 2025

Security is a major issue in all the areas of digitalization. Addressing to this problem, many technology companies have come up with new and advanced technologies and solutions which can help to increase the security and privacy of any users. In the last few years many technologies have been introduced to provide better security, quantum biometrics in one of them. Quantum biometrics makes the identification more accurate and very difficult for the hoaxers to gain unauthorized access. This is a new form of biometric identification technology which works similar to a human eye, as the human eye has the capacity to detect the flashes of light containing a handful of Photons. These photons are detected by a quantum mechanism which is governed by law of quantum physics. The quantum biometric technology targets the retina. The differing factor of human retina’s sensitivity to light is calculated by using quantum biometric procedure which involves laser pulses. Quantum biometric technology is based on retinal map which provides more secure and powerful form of recognition than the available form of biometrics such as iris scans or fingerprints.

Quantum biometric is a verification procedure defining whether an individual is who she or he claims to be. Biometric authentications are based on irreplaceable individual characteristics. There are two types of biometric recognitions which includes physical biometrics and behavioral biometrics. Physical biometric authentications include fingerprints, iris & retina scan, DNA and facial recognition. Behavioral biometric authentications include handwritten signatures and voice recognition. Quantum biometric authentications is part of physical biometrics. Quantum biometric technologies help to improve security and reduce operational costs. Users are becoming more comfortable with the biometric technology as a method of payment security. Quantum biometric technology generally requires very limited time (5 Seconds) for identification of an individual. All these advantages makes the quantum biometric technology popular around the world.

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The Quantum biometric market is reshaping the whole biometric authentication market in terms of technology. The major factors which are driving the Quantum biometric market are rising security concerns for public security, national identity, border control management, internet & network access, e-passports and financial transactions. It is helping in the development of overall biometric authentication market. Other than public domains, quantum biometrics have huge opportunity in the consumer electronic applications, consequently driving the quantum biometric market over the past few years. Gradually, the growing demand for smart electronic devices and interest toward this authentication technology is growing which is becoming a trend now a days. However, fear of privacy disturbance and complex technical architecture can hamper the growth of quantum biometric market.

The quantum biometric market can be segmented on the basis of application and geography. By application, the market has been segmented into banking, government and defense, healthcare, consumer electronics, transportation and others. Fingerprint recognition and facial recognition are the biometric technologies which already have a strong presence in the market. As government and banking domains require high accuracy in authentication of individuals and these two applications are anticipated to be of high potential in quantum biometrics market.

The key players within quantum biometrics market include Quantum Signal LLC, Eye Verify, EyeLock LLC., BioEnable Technologies Pvt. Ltd, Iris ID, Inc., BI² Technologies, however, other prominent players are also planning to enter into the market.

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