Industry Background:
Iris biometric is an identification technology that recognizes with the help of mathematical pattern recognition techniques. It is highly adopted as a security system such as an immigration control system. In the immigration control system hardware required to process, arriving, and departing passengers such as lives scanners, cameras, and e-Passport readers are used to authenticate passengers in physical manners. Increasing the use of technology inbuilt hardware system helps to complex challenges in the immigration control system.This growth is primarily driven by Increase Adoption of Iris Biometric Technology by Government for Security Systems, The Rise in Penetration Rate of Iris Biometric in Consumer Electronics Sector and The Rise in Demand for Iris Scanners in Access Control Application.
Globally, a noticeable market trend is evident Increase Investment in Research and Development
. Major Players, such as Thales Group (France), IDEMIA (France), Iris ID (United States), IriTech (United States), HID Global (United States), Princeton Identity (United States), EyeLock (United States), Secure Identity (United States), Unisys (United States) and Aware (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Sep 2020, Iris ID announced the shipment of IrisTime, a new biometric time and attendance system. This solution is a completely customized and accurate solution, that meets the growing requirements of small to large size business. Through this initiative, the company is becoming more competitive in the market.
Market Drivers
- Increase Adoption of Iris Biometric Technology by Government for Security Systems
- The Rise in Penetration Rate of Iris Biometric in Consumer Electronics Sector
- The Rise in Demand for Iris Scanners in Access Control Application
Market Trend
- Increase Investment in Research and Development
- Rise in Number of New Market Players
Restraints
- Rise in Security Concern
- Continuous Upgradation in Technology
Opportunities
High Adoption of Biometric Technologies in the Automotive Industry, Integration of Cloud Computing with Iris Biometrics and Growing Adoption from The E-Commerce Industry
Challenges
Increase in Complexity of Integrating Iris Recognition Technology and High Cost Associated with Iris Biometrics Hardware Solutions
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Iris Biometrics Study Sheds Light on
The Iris Biometrics Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Iris Biometrics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Iris Biometrics industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.