1. Market Research
  2. > Biotechnology Market Trends
Global Iris Biometrics Industry

Global Iris Biometrics Industry

  • August 2020
  • 389 pages
  • ID: 5112943
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

In the Age of Face Masks, Failure Rates of CCTV &Facial Recognition is Increasing. Iris Biometrics Rises Over the Horizon as an Effective Alternate

The global Iris Biometrics market is expected to reach US$4.8billion by the year 2027, trailing a post COVID-19 CAGR of 10.8% over the analysis period 2020 through 2027. People worldwide are today wearing face masks to protect against the spread of COVID-19. Several governments have made wearing face masks in public mandatory under laws & regulations for control of epidemic diseases. The COVID-19 pandemic has resulted in unprecedented disruptions and sweeping changes across various industries. The no-touch culture set into motion by the pandemic has created a notable demand for touch less biometric solutions. Advanced multifactor and multimodal biometric platforms are gaining increasing relevance due to their authentication accuracy and alignment with social distancing guidelines for COVID-19. Latest rules specified by various governments require businesses to avoid using palm print, fingerprint and hand-key readers for preventing physical contact and spread of the virus. These measures are paving way for iris scans and facial recognition technologies that are user-friendly and suitable for diverse environments. With people vary of touching card readers, keypads, elevator buttons, and door handles, facial and iris recognition, as well as other such contactless biometric technologies are likely to replace methods that require repeated touching of surfaces by people.

Contactless biometrics technology is set to experience remarkable gains due to the confluence of factors such as COVID-19-related guidelines and adoption of digital security solutions. The increasing focus on public safety monitoring coupled with the need for early detection and patient screening are driving the adoption of advanced contact-less biometrics technology. Fueled by rising application of the technology for identity verification, transactions, access control and payments, the global market for contactless biometrics technology is projected to post a strong growth rate through the year 2030. Being a contactless authentication solution, Iris biometrics is witnessing sudden popularity. With effectiveness of facial recognition declining with people wearing masks, iris biometrics is emerging as an effective alternative. The technology is anticipated to receive a major boost from COVID-19 pandemic and associated need for contactless biometrics coupled with rising adoption of online transactions. The concept is expected to witness a notable uptick in facilities requiring stringent surveillance, access control and law enforcement. In addition, biotechnology and healthcare units are estimated to hold the major share, mainly for facial recognition. The adoption of security and innovative solutions for healthcare applications is expected to foster demand for iris scans and facial recognition.

Contactless biometrics is anticipated to find rising application for identity verification and access control while software solutions are estimated to enjoy the dominating position. The increasing implementation of contactless biometrics is attributed mainly to the fact that the technology is more secure in comparison to conventional access control options. The contactless nature of the technology makes biometrics a compelling proposition for enterprises and governments in the wake of COVID-19. The pandemic is poised to accelerate global adoption of contact-less access products that offer smart security while supporting hygiene protocols. A large number of organizations are anticipated to make a shift away from solutions requiring physical contact towards touch-less platforms. The touch-less biometrics technology is likely to also gain from technological advances intended to fulfill specific needs of various organizations. The increasing demand for touch-less biometrics technology is prompting various companies to develop advanced solutions to satiate the demand. Developers in Japan are coming up with innovative solutions such as new security gates to identify people, even individuals with masks. Japanese players including Optex and Fujitec are working on bringing contactless hand signals to specific locations such as elevators for opening doors. On the other hand, NEC signed a deal with Airports Authority of India for implementing paperless biometric boarding solutions at various airports for supporting Digi Yatra that is intended for digital processing of travelers at airports. In addition, increasing focus of various IT companies to disable fingerprint-based biometrics and embrace card-based or facial biometrics is a major concern for fingerprint scanner vendors. Dermalog, a Germany-based provider of facial, iris and fingerprint recognition hardware, has adopted cameras for gauging body temperature. With fever being one the main signs of COVID-19 in most patients, fever screening is emerging as a valuable option for preventing spread of the COVID-19 virus.

Competitors identified in this market include, among others,
  • Bioenable Technologies Pvt., Ltd.
  • Daon, Inc.
  • Anviz Global
  • 4G Identity Solutions Pvt., Ltd.
  • Aditech Ltd.
  • Argus Trueid
  • Biomatiques Identification Solutions Pvt., Ltd.
  • Aware, Inc.
  • Bayometric
  • CMI TECH

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on