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Market research analysts at Technavio predict that the global iris recognition in access control market will grow steadily during the forecast period and post an impressive CAGR of about 18% by 2020. This market research analysis identifies the rise in adoption of cloud-based biometrics as one of the primary growth factors for the iris identification in access control market. Cloud-based biometric technology utilizes cloud services through a web-based user interface and is available to the end-users on-demand. The pricing of cloud-based biometrics is based on a pay-per-use model, which makes it affordable by small and mid-size organizations as well. Moreover, pairing mobile biometric technology with cloud biometrics speeds up the identification process and will enable law enforcement officials to identify criminals by comparing their biometric data against data stored in the cloud, preventing unnecessary visits to the police station.
Multimodal biometrics ensures secure authentication by identifying an individual with a combination of two or more biometrics technologies. The introduction of iris recognition into multimodal biometrics will be one of the major trends that will gain traction in this market in the next four years. Multimodal biometrics using iris recognition combined with fingerprint or facial identification are already being used by countries such as the US, Japan, and Australia for border control. Multimodal biometric systems have already been deployed by countries such as the US, the UK, Japan, France, Germany, and Canada for national ID, voter registration, national healthcare, and e-passport projects.
Due to the presence of several well-diversified international and regional iris scanner vendors, this global market appears to be fragmented. Focusing on expanding their product portfolios and increasing their market shares, well-established iris recognition system manufacturers will start acquiring niche vendors. As international players are increasing their market presence, regional vendors will find it difficult to compete with them. Since all vendors equally compete to gain a considerable share of the market, the competitive environment is quite fierce. The competition in the market is likely to intensify further with an increase in product and service extensions, technological innovations, and M&A.
The leading vendors in the market are -
The other prominent vendors in the market are 4G Identity Solutions, AditechBI² Technologies, Biomatiques Identification Solutions, Easy Clocking, EyeLock, IrisGuard, M2SYS Technology, FotoNation, and SRI International.
The government sector accounted for the major market shares during 2015 and this was mainly due to the high acceptance of this technology in e-governance, national and civil IDs, e-passports, law enforcement, and immigration and border management services. Benefits such as the enrolment of data only once and increased durability will aid in the growth of the market in this end-user segment.
In terms of geographical regions, North America will be the major revenue contributor to the market throughout the forecast period. The acceptance of iris security systems by major end-user segments such as government, transportation, and healthcare in various applications like time and attendance monitoring, access to PCs, networks and servers, surveillance, patient monitoring, infant protection, and border control will fuel the growth of the market. The increasing awareness about the benefits of deploying iris recognition technology among various end-user segments will also drive the adoption of this technology in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Key market developments
PART 07: Market landscape
PART 08: Product lifecycle analysis
PART 09: Market segmentation by end-user
PART 10: Geographical segmentation
PART 11: Buying criteria
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Market trends
PART 17: Five forces model
PART 18: Vendor analysis
PART 19: Appendix
PART 20: Explore Technavio
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