The retail industry continues to be a hotbed of innovation. Activity is driven by technology, regulatory reforms, and risk mitigation, and the growing importance of technologies such as customer service robotics, robotic inventory management, and smart checkout. In the last three years alone, there have been over 133,000 patents filed and granted in the retail industry, according to GlobalData’s report on Cloud: Biometric authentication. Buy the report here.

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Data Insights Cloud in Retail: Biometric authentication

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According to GlobalData’s Technology Foresights, which uses over 128,000 patents to analyse innovation intensity for the retail industry, there are 70+ innovation areas that will shape the future of the industry. 

Biometric authentication is a key innovation area in cloud 

Biometric authentication can be defined as a security process that uses an individual’s biological characteristics to ascertain that he/she is the one who he/she claims to be. 

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 10+ companies, spanning technology vendors, established retail companies, and up-and-coming start-ups engaged in the development and application of biometric authentication. 

Key players in biometric authentication – a disruptive innovation in the retail industry  

 ‘Application diversity’ measures the number of different applications identified for each relevant patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators. 

‘Geographic reach’ refers to the number of different countries each relevant patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’. 

Patent volumes related to biometric authentication

SoftBank Group is one of the leading patent filers in biometric authentication. Some other key patent filers in the biometric authentication space include Intel, Cox Enterprises, and Nio. Recently, SoftBank chose Nok Nok Labs to develop biometric authentication for its mobile customers. This will allow SoftBank customers to access the mobile app through biometrics, thereby increasing convenience. 

In terms of application diversity, Nio leads the pack, with Cox Enterprises and Samsung Group in second and third positions, respectively. By means of geographic reach, Indivd held the top position, followed by Intel and Magic Leap.

Biometric authentication will potentially become an important aspect in the retail industry. With retail companies increasingly focusing on improving safety, biometric authentication will gain popularity. 

To further understand the key themes and technologies disrupting the retail industry, access GlobalData’s latest thematic research report on Cloud Computing in Retail. 

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.