The Internet of Things (IoT) market is defined as a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. It will impact the way all businesses, governments and consumers interact with the physical world and is predicted to be the “next big thing”. Much like the smart card and mobile markets, access, security and authentication will be critical in the successful mass adoption of these technologies.
IDEX’s unique value proposition
IDEX’s leading market position and newest off-chip touch sensor for biometric cards transfers very well to IoT applications. More specifically, the flexible substrate, low power, compelling cost point and best-in-class performance of IDEX’s solution is ideally suited for IoT devices. The Company’s off-chip technology and fully programmable ASIC also provide increased flexibility to rapidly address a wide variety of form factors across this fragmented end market.
As part of the Company’s focus on selective vertical opportunities where the off-chip sensor offers a strong value proposition, IDEX is currently developing a standard sensor solution offering for multiple IoT customers and applications.
Evidence of market penetration
IDEX shipped its off-chip fingerprint sensor to three different IoT customers during 2016, and the Company has since received repeat orders for the integration of its sensors into adjacent applications.
At the 2017 Consumer Electronic Show (CES) in Las Vegas and Mobile World Congress in Barcelona, IDEX’s OEM partner, BIO-key International, showcased several new products, including USB fingerprint Readers, as well as biometric padlocks.
IDEX’s off-chip sensor has also been featured in a door lock application and in an encrypted storage solution with two Asian OEMs.
Emerging market opportunities
The IoT market is still in the early stages of development and adoption. Although highly fragmented, the emerging growth in this market is expected to have a profound impact across a number of different applications and end markets. IDEX is well positioned with its off-chip technology to capitalize on select verticals that can benefit from the excellent biometric performance and flexible form factor of the Company’s fingerprint sensor solutions.