Iris recognition is the process of identifying a person by analyzing the random pattern of the iris. It uses the camera technology with near infrared illumination to capture high resolution-based images of the iris which are visible externally. The technology is accurate, easy to use, and difficult to forge. Occurrences of terrorist attacks, cybercrimes, and other cross-border illegal activities have led to the implementation of iris recognition technology across sectors. Currently, the world’s leading OEMs from consumer electronics to automotive are focused on incorporating the iris recognition technology in their offerings. Factors such as the integration of cloud computing technology with the iris biometrics system are creating opportunities for this market.
Iris Recognition Market
The iris recognition market is expected to grow at a rapid pace in most of the regions in the world due to growing concerns of every country towards the safety and security of citizens. In 2014, the government sector was the biggest industry vertical for iris recognition market. The said market is expected to have a huge growth potential because of initiatives taken by various governments. For instance, the Aadhaar program, with an objective to collect biometric and demographic data of residents, began operation in India in 2011. For this program, the government is enrolling the iris patterns and other biometric details of all citizens, run by the Unique Identification Authority of India (UIDAI). In January 2015, the Department of Homeland Security, a department of the U.S. federal government created in response to the September 11 attacks, announced that it will start deploying iris and facial recognition systems to the U.S. Border Patrol as part of a pilot program.
In addition to that, iris recognition technology has found several applications in sectors such as military & defense, banking & finance, consumer electronics, travel & immigration, automotive, and healthcare which are opening new growth avenues for OEMs. By 2020, these sectors are expected to be major application areas of iris recognition market.
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The iris recognition market in countries such as India and South Korea in Asia-Pacific is in its introduction stage. Developed regions such as the Americas and Europe are matured markets for iris recognition, accounting for a large share; however, markets in emerging economies are expected to grow at a higher rate than that in developed countries, during the forecast period.
