Nov 9, 2017   SOURCE: PR NewsWire

Global Iris Recognition Market 2017-2021: Market to grow at a CAGR of 20.68% - Key Vendors are BioEnable, Iris ID, IrisGuard, IRITECH & M2SYS Technology

DUBLIN, November 9, 2017 /PRNewswire/ --

The "Global Iris Recognition Market 2017-2021" report has been added to Research and Markets' offering.

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The global iris recognition market to grow at a CAGR of 20.68% during the period 2017-2021.

Global Iris Recognition Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

According to the report, one driver in the market is increased adoption of iris recognition in government sector. The government has increased its spending on biometrics techniques and reduced adoption of other non-biometric technologies due to their constraints of being lost or stolen by the individual. Furthermore, due to instances of terrorist threats at airports in the past, governments of various countries are deploying biometrics to thoroughly verify an individual based on the behavioral and physiological characteristics such as iris scan and fingerprint scan that are embedded in passports and visas.

One trend in the market is increased demand for iris recognition in BFSI sector. Iris recognition is used in the BFSI sector as a replacement for PINs, account numbers, and paper-based credentials. Iris recognition enables customers to check their account balance, make transactions, and access other banking services from remote locations.

Further, the report states that one challenge in the market is vulnerability of biometrics systems. There may be instances of iris recognition biometrics systems being compromised by design or by accident, which makes them vulnerable to damage or attack at the level of the device or associated equipment. Iris recognition biometrics devices are vulnerable to spoofing, physical attacks, and damage to cables and wires. At the level of the system, algorithms and templates are susceptible to hackers; data is vulnerable to alteration, deletion, or theft at the administrator or account level; and software components are vulnerable to attack.

Market Trends

    --  Increased demand for iris recognition in BFSI sector
    --  Emergence of iris recognition in wearables
    --  Introduction of iris scanners in smartphones

Market Developments

    --  Evolution of multimodal biometrics
    --  Emergence of mobile biometrics
    --  Emergence of contactless biometrics

Key vendors

    --  BioEnable
    --  Iris ID
    --  IrisGuard
    --  IRITECH
    --  M2SYS Technology

Other prominent vendors

    --  BI Technologies
    --  Biomatiques Identification Solution
    --  Delta ID
    --  EyeLock
    --  EyeSmart Technology
    --  EyeVerify
    --  Gemalto
    --  HONGBOG
    --  HYPR
    --  Infinity Optics Solutions
    --  IRISYS
    --  Precision Group

    --  Princeton Identity

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Market Developments

Part 08: Five Forces Analysis

Part 09: Market Segmentation By Product

Part 10: Market Segmentation By End-User

Part 11: Regional Landscape

Part 12: Decision Framework

Part 13: Drivers And Challenges

Part 14: Market Trends

Part 15: Vendor Landscape

Part 16: Major Vendor Profiles

Part 17: Mergers And Acquisitions

Part 18: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/znx2cj/global_iris

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SOURCE Research and Markets