More and more industries are getting involved in the rapid development and implementation of biometric technologies which are experiencing a real boom worldwide. The global market is set to grow from $36.6 billion in 2020 to $68.6 billion by 2025. The automotive and retail segments will form the main part of it. Global market is dominated by fingerprint technology.
According to a study by Goode Intelligence, there will be almost 579 million biometric payment cards worldwide by 2023 and the number of biometric payment users will exceed 2.6 billion. The reason for the technology's rapid growth is convenience: customers are relieved from having to carry a physical payment instrument (card) or remember PIN codes and passwords. Moreover, biometric systems are easy to install and operate.
The main limitation for their global spread is the high cost, but this is not the case with all developers. For instance, facial recognition solutions that IXR offers to retailers (and not just them) are not only innovative and reliable but also affordable. They include:
- Facial recognition payment—for making purchases and participating in loyalty programs on self-checkout terminals using biometric data. The kiosks use a 3D Intel Real Sense camera in the IXR SST version.
- Employee timekeeping and attendance. Biometric tablets monitor the times when employees come in and leave work with 99% accuracy. Special sensors in the name tags monitor the location of employees in the store.
- The queue monitoring and prediction system analyzes customer traffic in terms of entering and leaving the store. It uses a self-learning neural network and generates predictions every ten minutes with 78% accuracy or more.
- Driver fatigue monitoring and sleep detection system helps reduce the risk of accidents by half. Biometric sensors monitor the frequency of blinking and can detect whether the driver is looking at the road, at their phone, or is falling asleep.
What customer tasks can be solved with biometric solutions from IXR?
As mentioned above, the retail sector is one of the key markets for biometric solutions globally, which is due to a number of industry-specific factors. For instance, technology helps increase the security of financial transactions, enables access control to sensitive information and valuables, optimizes store capacity, and helps provide modern customer service.
The latest biometric identification and facial recognition technologies and algorithms used in IXR products make it easier for customers to shop and take part in loyalty programs, automate personnel management functions, assist in shoplifting prevention, help prevent queues, etc.
Aside from introducing new technologies, we also focus on the ergonomics and usability of kiosks with cameras and scanners, their design and functionality. Our products give shoppers a positive user experience and the benefits of the new payment method.
The innovation of IXR products is ensured through four aspects:
- The integration of the company's products into a single system that handles the full range of tasks associated with retail operations without breakdowns or downtime.
- IXR solutions are the first in the world that can be built in large numbers, as required by large retailers.
- The company achieves ATM reliability on serial hardware.
- Sensors that measure facial depth and liveliness, as well as temperature, are connected to large volumes of data. In IXR products, they are packaged into small amounts of memory and can be used without loss of speed or lagging.
Reliability, ease of use and maintenance, and a low cost of project implementation, compared to competitors, are the main characteristics of IXR products that are created using innovative technologies, including biometrics.