The global Iris Biometrics market size was valued at USD XX billion in 2019 and is predicted to grow at a compound annual rate of growth (CAGR) of XX % from 2019 to 2026.Multi-factor authentication (MFA) is an authentication process where a minimum of two various factors of proof are required. Three main sorts of authentication are something you recognize (such as a password), something you've got (such as a card or token), and something you're (biometrics). Biometric authentication utilizes physiological and behavioral characteristics to authenticate a persons identity. MFA has become a well-liked tool for organizations to authenticate the identity of employees and vendors employing a corporate network.Iris biometrics software provides one among the foremost secure methods of authentication and identification because of its unique characteristics of the iris. This technology replaces current methods of passwords, token cards, or PINs, and if utilized in conjunction with something the user knows during a two-factor authentication system, then the authentication becomes even stronger. Various government organizations in several countries are enrolling iris recognition systems for convenience purposes, like passport-free automated border-crossings and national ID programs. As an example, the govt of India has adopted iris-based biometrics in conjunction with national ID cards to authenticate people for welfare work benefits, passports, voter registration, and lots of other uses. Thus, rise within the adoption of iris biometric solutions among government agencies is predicted to expand the iris biometrics market size over the approaching years.Source: Secondary Databases, Primary Interviews and 99-Reports AnalysisGlobal Iris Biometrics Industry Dynamics Over the past few years, iris biometrics technology has made its way into consumer mobile devices, a development that has some heralding the increase of iris recognition in FinTech, IoT, and other hot verticals. Iris recognition has been widely unrolled on mobile devices as a section of the two-factor authentication process for privileged access to apps like Internet banking and even secure email access. Samsung is that the first to introduce iris recognition technology into its phones, as a technique of authenticating and unlocking the device. Samsungs Galaxy Note7, Lumia 950, Lumia 950 XL, and multiple editions of Fujitsu Arrows devices are seen as a pioneer within the world of smartphone iris biometrics. Continuous innovations in iris biometrics and increasing penetration of this technology in consumer electronics will drive the expansion of the iris biometrics market within the coming years.
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Global Iris Biometrics Market - Key Segment
Global Iris Biometrics Market By Product -
• Software
• Hardware
Global Iris Biometrics Market By Application -
• Government
• Defense
• Immigration
• Banking&finance
• Consumer electronics
• Healthcare
• Home and commercial security
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Global Iris Biometrics Market - Geographical Analysis By geography, the global Iris Biometrics Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).However, developing regions like South Asia & Pacific are expected to record higher growth rates over the forecast period, due to increasing adoption of iris biometric tools among governments and enforcement agencies. Rising security concerns and wish for iris recognition technology in E-Passport and national ID programs are key factors that are predicted to make sure the event of this region within the global iris biometrics market within the coming years.Global Iris Biometrics Market –
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Some of the key leaders companies in the market include - Thales Group
• M2SYS Technology
• HID Global
• IRIS S.A
• IDEMIA
• BioEnable Technologies
• NEC Corporation
• and IrisGuard Inc.
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