Iris Recognition market
20 Jan
2020
Press Release

According to the latest report by IMARC Group titled, “Iris Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market is expected to grow a CAGR of around 18% during 2019-2024. Iris recognition is the method of identifying the distinct and unique patterns present in the iris of an individual. This process is widely utilized for recognition, identification and authentication purposes as a form of biometric verification. Detailed images of the eye are generated with the help of a high-resolution digital camera at infrared wavelengths. These images, with the help of a specialized computer program, are then compared with millions of images per second, which are stored in a database. Since this form of biometric is considered quicker and more reliable than the fingerprint scans, it is widely being installed across spaces such as airports to prevent unauthorized access.

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The global market is driven by an increase in the number of crimes and frequent incidences of security breaches across the globe. Several government and non-government establishments have adopted the iris recognition system to improve the existing security infrastructure. Apart from this, the integration of this biometric technology with ATMs, banks and smart devices is anticipated to create a positive outlook for the market. Furthermore, this method of recognition has been adopted by the healthcare industry for not only addressing patient identity challenges but also enhancing administrative efficiency.

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Market Segmentation:

Breakup by Product Integration:

1. Smartphone
2. Tablet and Notebook
3. Scanner
4. PC/Laptop
5. Smartwatches
6. Others

Breakup by End-User:

1. Government
2. Transportation
3. Healthcare
4. Others

Breakup by Region:

1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America

Competitive Landscape:

The report has also examined the competitive landscape of global iris recognition market. Some of the major players in the market are BioEnable, Iris ID, IrisGuard, M2SYS Technology, Gemalto Cogent, IriTech, Inc, SRI International, Crossmatch, EyeLock LLC, etc.

Key highlights of the report:

1. Market Performance
2. Market Outlook
3. Porter’s Five Forces Analysis
4. Market Drivers and Success Factors
5. SWOT Analysis
6. Value Chain
7. Competitive Structure
8. Profiles of Key Players

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This post was originally published on Stock Markets News

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IMARC Group is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.