IRIS Scanner Market: Surge in Use in Automotive and Industrial Applications Drives the Growth Over 2020-2027 | Size, Share, Trends, and Investment Opportunities

IRIS scanner is a device that works on automated method of using visible and near-infrared light to take a high contrast image of one or both iris. IRIS scanner uses mathematical pattern recognition techniques to take images of unique patterns of IRIS, which are analyzed to extract a pattern that encodes information in the iris. Iris scanners are reliable, accurate, and user friendly for any kind of scanning project. IRIS scanner helps to maintain hygiene as it is able to take images without any contact with the subject’s body.

Companies covered

Iris ID, IriTech, BioEnable Technologies, Secure Identity, Smartmatic, EyeLock Inc., IrisGuard Inc., Crossmatch Technologies, Safran, Sri International Inc., and Others

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COVID-19 Scenario Analysis:

• The recent COVID-19 outbreak has prompted a global shift toward social distancing and quarantine. Thus, many organizations have shifted from contact-based biometric technology to contactless solutions.

• The pandemic has accelerated use of contactless biometric solutions, which include IRIS scanners for automatic, authentic identification, and data capture by remote digital services. UnionCommunity, a global company based on biometrics technology, reported nearly 200% increase in sales of biometric face and iris recognition products across the Middle East since February 2020.

IRIS Scanner are easy-to-use, offer fast response, and the biometric authentication technology used in them is highly secured and difficult to be forged. They are used by the smartphone industry such as in biometric authentication in Samsung Galaxy S8, the defense sector at borders to immediately identify and grant faster access to civilians and commodities, and in the BFSI sector for faster customer identification. Thus, owing to these factors and high demand from government for several projects and private sectors, the IRIS scanner market share is expected to grow considerably in the coming years.

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Top Impacting Factors: Market Scenario Analysis, Drivers, Trends and Impact Analysis

Global urbanization has facilitated the need for security in recent times. Factors such as rise in crime, cybercrime, fraudulent activities, and integration of IRIS scanner in smartphones act as drivers for the IRIS scanner market analysis. For authentic identity management, these scanners are in high demand in defense, BFSI, and travel & immigration sectors. There is a surge in demand for scanners in the healthcare sector with a view to keep a precise record of patient identification. However, the rapidly changing information technology industry; intense competition; alternate inexpensive products such smart cards; vulnerability of IRIS recognition system; and intrusion of privacy hamper the IRIS scanner market growth.

Moreover, launch of advanced innovative products, implementation of IRIS scanner in ATMs and pharmacy dispensing, and huge investments by both public and private sectors create ample opportunities for the global IRIS scanner industry.

New Product Launches to Boost the Market:

Leading market players are adopting necessary actions to improve overall accuracy and functionality of IRIS scanners as it remains one of the most accurate forms of identifications. Once expensive, it has now become a more cost-effective option. In April 2020, the Asian Banker magazine selected Qatar National Bank for having “Best Biometrics Initiative in Qatar” as it made use of contactless IRIS ID biometrics for security and convenience of its customers.

In September 2019, Iris ID, a leading global provider in iris scanning technology launched LEAF access cards (smart cards) integrated with MiFare DESFire EV1 and EV2 technologies. This feature enables two-factor authentication for enterprises that require highest security levels. These LEAF access cards contain an ID number that is accessible after authentication by an iris match between template on card and person’s iris. The chip’s data should match results of a live iris scan. This technology has resulted in positive responses from high-tech facilities requiring dual identity authentication, which, in turn, provides opportunities for the market growth.

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Surge in Use in Automotive and Industrial Applications:

Key players in IRIS scanner market have determined how improved accuracy can prove to be influential in various situations. Iris scanners are used in the automotive manufacturing industry prominently for the identification of drivers. With iris rear mirror car drivers can be identified and authenticated. Iris scanning combined with charge coupled device (CCD) and algorithm on Gabor filter which are interconnected integrated circuits can monitor driver’s eyes for drowsiness and distraction, preventing drunk drivers to start the car. This activates predefined mode to drive car to safety.

In January 2020, Iris ID, a key developer of iris technology announced integration of handheld iCAM M300 with integrated biometrics fingerprint platform named Sherlock Fingerprint scanner certified by the federal bureau of investigation (FBI). In addition, android-based iCAM M300 is designed for field use in law enforcement, border control, national ID programs, to verify ePassports. Further, the embedded camera in Icam 300 can capture both iris and facial modes for identification purpose. Communication protocols used in the cameras are NFC, WiFi, and GPS. These features are proved to be crucial for its use in automotive, industrial and defense sectors, which is opportunistic to the IRIS scanner market trends.

Key benefits of the stakeholders:

• The study gives an analytical overview of the IRIS scanners market with current trends and future estimations to determine imminent investment pockets.
• The report analyzes information related to key drivers, restraints, and opportunities along with detailed analysis of the overall market.
• The current IRIS scanner market is quantitatively analyzed from 2021 to 2027.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market

Questions answered in the Iris Scanner Market research report:

• Who are the leading players in the iris scanner market?
• What are the current trends that would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
• What would be the detailed impact of COVID-19 on the IRIS scanner market?

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