Global Iris Recognition Market: Key Highlights
Global Iris Recognition Market: Key Market Dynamics
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Global Iris Recognition Market: Regional Overview
Asia-Pacific is expected to dominate the market during the projected period. Increasing the consumer electronics market, increasing population, and growing disposable income are driving the market in the Asia-Pacific region. China and India are the countries expected to hold the largest market share in this region. In July 2018, more than 1.2 billion people in India were successfully enrolled with fingerprint and iris recognition to UIDAI Project. A few years back, 15% of peoples in India are failed to register with a fingerprint because a majority of the Indian population is manual laborers such as farmers with damaged fingerprints. Hence the UIDAI committee decided to include Iris recognition as primary biometric technology for registering the identity. The presence of global players such as NEC Corporation, BioEnable Technologies, and many others are expected to add more value to the growth of the market in this region.
North America is expected to grow at a higher growth rate during the projected years. Adoption of the latest technological infrastructure, the presence of global players such as Iris ID, Inc., Aware, Inc., IriTech, Inc., and EyeLock LLC are expected to grow the market with the highest growth rate during the forecast period. In the past few years, iris recognition is majorly used for security purposes by the government of the US, Canada, and Mexico for border security control, to reduce terrorist attacks, check and maintain data of border crossing peoples.
Global Iris Recognition Market: Key Players Overview
Gemalto is one of the leading providers of digital security to various end-users for securing payments, border control security, and many others. The company operates in two business segments namely identity, IoT & cybersecurity and smartcards & issuance. The company is a subsidiary of the Thales group and based in 47 countries. In October 2017, the company invested in 3M Cognet for developing new Cogent biometric identification solutions. These solutions will support multi-modal identity searches such as fingerprint, palm print, face and iris recognition
NEC Corp. engages in the provision of components, services, systems, and integrated solutions for communication and computing applications. It operates through four business segments: public business, enterprise business, telecom carrier business, system platform business, and others. In August 2018, the company invested in Tascent, Inc., the US-based biometric system company intending to accelerate and expand its safety business globally.
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