- In November 2024, a major technology company formed a strategic partnership with a biometric technology provider to integrate fingerprint scanning capabilities into its devices. This collaboration is expected to strengthen the adoption of single factor authentication systems by enhancing device-level security and offering users a seamless, built-in authentication experience, particularly across the consumer electronics segment
- In October 2024, a leading cybersecurity firm launched an AI-powered facial recognition authentication system designed to improve accuracy and minimize false acceptance rates. This development is anticipated to boost trust in facial biometrics and drive their wider application in sectors requiring high security, such as banking, healthcare, and government, thereby expanding the SFA market
- In September 2024, the FIDO Alliance announced major advancements in passkey technology with the rollout of the Credential Exchange Protocol (CXP), aimed at enhancing passkey portability across platforms. Although passkeys align with broader password less trends, this innovation is expected to complement biometric single factor authentication methods, fostering a more integrated and flexible security ecosystem that supports continued market growth
