Huge Demand of Global Iris Biometrics Market during 2021-2030
New Study Reports ” Iris Biometrics Market 2021: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2030″ has been Added on MarketResearchFuture.
Report Overview
The report on the Iris Biometrics Market provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2021 to 2030. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.
As per findings of a new market research report by Persistence Market Research, worldwide sales of the iris biometrics market reached US$ 2.6 Bn in 2019, and the market is anticipated to exhibit an impressive CAGR of 14% through 2030.
Unlike software-based biometric solutions such as face and voice recognition, iris biometrics requires specific hardware to verify a person’s identity, hence, it is less common in consumer-facing deployments. But latest advancements and innovations in the biometrics space have made this technology more accessible in terms of cost and installation. Iris biometrics technology is becoming more prominent across various industries, including healthcare, consumer electronics, government, and others. Organizations have started adopting iris biometric solutions for the purpose of access control and consumer identity verification, which is significantly driving market growth.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Thales Group, DERMALOG Identification Systems GmbH, M2SYS Technology, HID Global, IRIS S.A., Iris ID, Inc., IDEMIA, TECH5, BioEnable Technologies Pvt Ltd., NEC Corporation, EyeLock LLC, IrisGuard Ltd, Princeton Identity, Inc. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Iris Biometrics.
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Key Takeaways from Iris Biometrics Market Study
- Iris recognition solutions are gaining traction over fingerprint and face biometrics solutions. This is mainly attributed to the exceptional accuracy and speed among the biometric technologies currently available in the market.
- Iris recognition biometrics technology has the potential to solve problems caused by the COVID-19 pandemic, such as facial recognition’s inability to recognize people when they are wearing masks.
- Among the regions, South Asia Pacific is exhibiting a high growth rate, owing to rising demand for digital services such as mobile banking, digital payments, and mobile wallets, across the region.
“Iris recognition is fast becoming a part of everyday operations for a number of law enforcement and government agencies, for the purpose of personal identity verification, as iris recognition remains one of the most accurate forms of identification available. This shift toward iris biometrics technology is creating lucrative opportunities for biometric solution providers,” says a PMR analyst.
Rising Adoption of Iris Biometric Solutions in Hospitals & Medical Institutes
Iris recognition is an automated method of biometric identification, using visible and near-infrared light to take a high-contrast photograph of a person’s iris. Data breach, medical identity theft, and duplicate medical records are some of the major challenges hospitals and medical institutes face. According to the Institute of Medicine, half of hospital deaths each year occur due to medical errors from patient misidentification. For protection against such accidents, iris scanning technology is the most prominent biometrics technology being used nowadays. Increase in demand from the healthcare industry favors iris recognition, as it is contactless, scanning users from a distance. Various healthcare facilities use iris recognition to authenticate patients, physicians, and staff. Thus, rise in adoption of iris biometric solutions among hospitals and healthcare institutes is propelling the growth of the iris biometrics market.
Key Stakeholders
Iris Biometrics Market Manufacturers
Iris Biometrics Market Distributors/Traders/Wholesalers
Iris Biometrics Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Iris Biometrics Market Report:
- The Iris Biometrics Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Iris Biometrics Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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