Human Identity Chips Market Size, Share, and COVID Impact Analysis, By Technology (Sensors, Networks, Cloud, and Applications), By Enterprise Type (Small & Medium Enterprises and Large Enterprises), By Application (Identity Document, Criminal Record, Medical History, and Address Books), and Regional Forecast, 2024-2032

A human identity chip is an electronic device implanted under the skin that stores information such as a person's name, date of birth, social security number, and DNA data. These are sometimes called radio frequency identification (RFID) tags. These chips can be read by scanners from a few meters away, making them useful for tracking people in crowded or disaster areas. The chip is about the size of a grain of rice, is usually implanted into the skin just beyond the individuals’ thumb using a syringe similar to that used for vaccination. Furthermore, while cyber experts continue to worry about protecting critical infrastructure, implanting chips in people has implications for privacy and security far beyond cameras in public places, facial recognition, location tracking, driving habits, consumption history and even data ownership poses great challenges in accepting the fact that represents technology. For instance,

• Apple has introduced fast fingerprint identification and opted for facial recognition to unlock their newest phones. Face ID provides instinctive and secure authentication enabled by the TrueDepth camera system with innovative technologies to map face's geometry precisely.


• Nymi has developed a wristband with an exclusive electrocardiogram (ECG) to verify a user's identity. This wristband is being trialled by numerous large organizations, including banks and airports.

Moreover, as the world becomes more digital, these tiny devices are implanted beneath the skin. They can be used to store any information about an individual, from medical to financial records. On the other hand, if these chips fall into the incorrect hands, someone could use them to track individuals every move or even control their actions. Thus, it has the potential to make it easier for people to track and monitor each other. This could lead to increased scrutiny and oversight by governments and other agencies, and impact civil liberties. Additionally, personal identification chips may increase the risk of identity theft, fraud, and data breaches as cybercriminals continue to find and design loopholes.

Impact of COVID-19 on the Human Identity Chips Market

The sudden outbreak of the COVID-19 pandemic has had a major impact on the human ID chip market, leading to strict lockdowns. As global concern grows over health issues and the spread of viruses such as COVID-19, human ID chips have the potential to mitigate the impact of such situations. RFID technology can help to take swift and effective measures to curb the spread of infectious diseases, such as identifying infected patients' whereabouts and notifying relevant parties. Applying this technology helps provide the additional quality control and safety needed to reduce the risk of infection, thereby improving the quality of care and patient safety. The software also collects and reports critical data and can be used to alert when standards are violated, or infections are spreading throughout the hospital.

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Players


• Impact of COVID-19 on the Human Identity Chips Market


• Consolidated SWOT Analysis of Key Players

Analysis by Application

Based on application, the market is categorized into identity documents, criminal records, medical history and address books. The medical history segment had the highest global market share of human identity chips. There is a widespread collection of medical uses for microchip implantations. Within the medical field, there are several methods where RFID can be incorporated. The technology is available and being used to implant individuals with microchips. For instance,

• Wristbands inserted with an RFID chip can aid hospitals with patient security requirements. Medical workers can read the chip to get immediate access to the patient's medical history, such as medications prescribed and dosage, medication allergies, and specimen results.

Furthermore, hospitals also use RFID to embed chips into individuals with dementia or newborn babies. If the individuals leave a certain zone, it will activate an alarm warning the staff. Medical staff would be able to respond and stop the individual before they leave the hospital or specific ward. Therefore, the individual with dementia could not leave the ward, and a baby would not be snatched. With an RFID chip, there would be a much lesser chance of babies being changed by mistake.

Regional Analysis

The global human identity chips market has been studied across North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Asia Pacific holds the highest market share due to growing trade network amongst Asia Pacific countries. Companies are leveraging the benefits of human identity chip solutions to gain visibility into the supply chain. These identity chips are an ideal medium for tracking assets or people of organizations in real-time. Adoption of these solutions across medical records and identifying documents is expected to provide lucrative opportunities for the market in this region.

The distribution of the human identity chips market by region is as follows:

• Asia Pacific – 49%


• North America –26%


• Europe – 16%


• The Middle East and Africa – 6%


• South America – 3%

Key Players Covered

The key players in the market include Nymi, Biohax International, Wisconsin, Three Square Market, Microchip, Dangerous Things, Epicenter, Verichip, Walletmor, Affymetrix Inc., and others.

Segmentation

Key Industry Developments

• July 2022: Synchron, announced the first human BCI implanted in the United States. This technology is used by several individuals who have lost the capability to act their hands to control digital devices.


• April 2021: A Polish-British start-up company has produced the world’s primary microchip implanted underneath the skin to avail contact-free payments at any card terminal.