The global iris recognition in access control market exhibits a highly promising nature and is poised to rise to a significant valuation by 2022. Iris recognition technology offers several advantages such as excellent resistance to false matches, high speed of matching, and superior efficiency due to stability of the iris. Owing to these advantages, the technology is emerging as a key method for biometric verification for access control in various sectors, including military and defense, government, banking and finance, and healthcare.
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Incorporation of iris recognition technology into multimodal biometrics is also projected to provide a fillip to the market. Multimodal technology using iris recognition along with facial or fingerprint identification is being used in various industrialized countries for access control. For instance, in September 2017, Taiwan-based Lextar Electronics Group introduced an infrared LED module supporting both face and iris biometrics, PR88. The module is only 1.4 mm thick and can be incorporated into access control systems and mobile phones.
Besides this, growing inclination toward cloud-based biometrics can allow the market to gain tremendous momentum. Cloud biometrics speeds up identification process and helps organizations compare biometric data with data stored on the cloud. Government and corporate organizations are taking initiatives to rev up the implementation of this technology in access control.
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Burgeoning occurrence of cybercrimes, terrorist activities, and other illegal activities is creating a high need for implementing iris recognition technology. This, coupled with rising adoption of E-passport programs, is anticipated to stimulate the growth of the market. On the other hand, high cost of iris recognition systems can hamper growth prospects. This can be further exacerbated by strong market presence of several inexpensive alternatives. However, developing economies are expected to be highly opportunistic destinations for players in the market.
The global iris recognition in access control market has been divided on the basis of application, type, and region. Based on type, the market has been segmented into anterior pigment myoepithelium,anterior limiting layer, posterior pigment epithelium, and others. In terms of application, the market has been fragmented into transportation, healthcare, and government. Adoption of iris recognition technology in the government sector is expected to remain high in coming years.
The key geographical segments studied in the iris recognition in access control market report are United States, Europe, China, Japan, Southeast Asia, and India. U.S. will be a key revenue contributor in the global arena. Increasing implementation of iris recognition technology in end-use segments such as healthcare and government in various verticals such as time and attendance monitoring, surveillance, networks and servers, and patient protection is driving the market in the region. Rapid technological advancements and high awareness regarding benefits of the technology are promoting its deployment. Japan and China are anticipated to register remarkable a growth rate in the foreseeable future, thanks to initiatives by government and corporate organizations to adopt iris recognition systems.
Some of the prominent companies operating in the iris recognition in access control market are EyeLock, Biomatiques Identification Solutions, Crossmatch Technologies, Easy Clocking, and 4G Identity Solutions.
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