New reports on iris biometrics, next generation biometric markets

January 25, 2017 - 

Persistence Market Research will publish two reports in March focusing on the iris biometrics and next generation biometric markets for the forecast period of 2015 to 2021.

In its upcoming “Iris Biometrics Market: Global Industry Analysis and Forecast 2015 – 2021” report, Persistence analysts state that the growth of the iris biometrics market is driven by the rising demand for authentication and extensive support from the government as well as the rising demand for e-passports, criminal identification, and surveillance in public gatherings.

The use of biometric recognition in e-commerce and establishing a hosted security system on cloud are also expected to attract new and existing players towards the growing trend in security and authentication, Persistence analysts said.

The report finds that the key players in this market are expected to deploy multimodal biometric recognition systems to integrate their existing systems with iris biometric system.

Meanwhile, several challenges including high cost, fear of privacy disturbance, technical issues regarding the compatibility with existing systems and time to develop the iris recognition system could all potentially hinder the market’s growth.

The report highlights the major applications of iris biometric technology in end-use sectors, including government, defense, immigration, banking, finance, consumer electronics, healthcare, home and commercial security.

In addition, iris biometric technologies continue deliver a range of services including access control, time and attendance monitor, national identity and public safety.

The report finds that the market is currently dominated by Europe, followed by North America, Asia-Pacific and Middle-East.

The leading vendors of iris biometric scanners are MorphoTrak, Smartmatic, Anviz Global, Smart Sensors, Iris ID and SRI International, while Aditech, BioEnable Technologies, Human Reco Systems, IrisGuard, EyeLock and AOptix Technologies continue to gain market share.

The report also discuss how smartphone vendors are showing interest in using iris biometric scanning for improving the safety standards.

For example, Samsung is researching and developing the use of iris biometric scanning solution for its high-end mobile phone segment.

Persistence Market Research will also publish a report titled “Next Generation Biometric Market: Global Industry Analysis and Forecast 2015 – 2021,” which forecasts that the market will grow at a substantial growth rate due to rising terrorists activities and theft activities.

The report segments the biometrics market by type (face recognition, fingerprint recognition, iris recognition, palm print recognition, voice recognition, signature recognition, vein recognition, and other), by application (government, defense, travel and immigration, banking & finance, consumer electronics, healthcare, home security, commercial security and other application), by function (contact and non contact), and by geography (North America, Asia Pacific, Europe and rest of the world regions).

The key drivers of the market include the growth in e-passport program, government support and extensive use in criminal identification, as well as the growing the need for large scale surveillance at public gatherings and penetration of smartphone,

Meanwhile, the report finds that the high cost of systems and fear of privacy intrusion are posing challenges to the market’s growth.

In contrast, the growing use of biometric technology in e-commerce and cloud computing for biometric technology will help fuel the growth of the global next generation biometric technology market.

The report identifies the market’s key players as 3M, Cross Match Technologies, Facebanx, Fingerprint Cards AB, Fujitsu, Fulcrum Biometrics, NCE Corporation, RCG Holdings Limited, Safran SA, and Siemens AG.

Earlier this week, Acuity Market Intelligence published its “Global Biometrics and Mobility Report“, which forecasts that the global accessibility of biometric smartphones will ultimately reshape the market landscape.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.