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Research delivers insight into the global iris recognition market

Industrial Market Research

This report examines the key players in the global iris recognition market: BioEnable, Iris ID, IrisGuard, IRITECH, and M2SYS Technology.

The latest industry research report on Iris Recognition by MRC provides a thorough analysis of the  Iris Recognition  market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc.

over the predicted time frame. This report provides 360 Degree perspective of the Iris Recognition industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.

Prominent Vendors in the market are: BI² Technologies, Biomatiques Identification Solution, Delta ID, EyeLock, EyeSmart Technology, EyeVerify, Gemalto, HONGBOG, HYPR, Infinity Optics Solutions, IRISYS, Precision Group, and Princeton Identity.

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Commenting on the report, an analyst from MRC’s team said: “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.”

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.

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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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The research report focuses on the analysis of its major geographies, and different segments. This all-inclusive study discusses the current market development and trends, important factors driving market growth like drivers, restraints, market projections, and market structure for each region and its sub-segments.

It also provides glimpses on the recent technological advancements in the market along with detailed profiles of key industry players. The report also includes an analysis of the micro and macro aspects noteworthy for the present active and the new entities apart from the study of the value chain.

Key Topics Covered in the Report:

  • Comprehensive overview of parent market with market definition, classification
  • Recognition of factors influencing the market scenarios and analysis of market drivers, barriers, and their impact on the market growth
  • Current and future market trends, market scope and detailed market segmentation on the basis of application, region, and competitive scenario
  • Value Chain Analysis, Strategic insights, and market estimations
  • Technology, trends, developments, and changing market dynamics of the Cannabis Testing industry
  • Facts, stats, historical data, market size forecast regarding volume and value
  • Analysis of competitive landscape and assessments on a regional scale with company profiles of leading market players, finance metrics, product offerings and key business strategies and growth prospects for the projected period
  • Insights on prospective opportunities and challenges, success and risk

The report brings to your attention analysis of the Iris Recognition market in major geographies including North America, Europe, the Asia-Pacific, and the Rest of the World. This research report provides a complete insight of the market trends and guides in making informed business decisions.

It gives a clear understanding of the competitive environment, key market players, their portfolio, and strategies. It also features a technological growth map over a time and helps understand its impact on the market.

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Market Scope

The research report takes different facets into consideration to scrutinize the  Iris Recognition  industry. It brings to your attention market overview, market trends and future outlook, market growth and dynamics, market challenges and opportunities, competitive landscape, and potential investment segment.

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