IDEX Biometrics unveils new product portfolio, targets high-growth markets

IDEX Biometrics ASA today launched a new product portfolio for payment and access solutions, alongside a redesigned website, marking a strategic shift from a component supplier to a product company. This move aims to strengthen its value proposition and scale recurring revenue, with chief executive Anders Storbråten emphasizing the company's position at the forefront of passwordless authentication with superior biometric solutions.

During the third quarter, IDEX secured multiple partnerships via Letters of Intent and commenced product testing, targeting commercial launches throughout 2025. Customer feedback has been "exceptionally strong," indicating high demand for IDEX's solutions, which reportedly outperform alternative technologies.

The company is targeting two significant growth markets: the Zero Trust security market, projected to grow from $42.91bn in 2025 to $92.42bn by 2030, and the digital payment fraud detection market, expected to expand from $8.1bn to $20.0bn by 2032. IDEX plans to host an investor presentation in September to detail the new portfolio and market opportunities.