The latest research report by Emergen Research, named ‘Global Iris Recognition Market - Forecast to 2027’, entails a comprehensive review of the global Iris Recognition market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe.
The Global Iris Recognition Market is forecasted to be worth USD 5.88 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of iris recognition system (IRS) in government identity systems and smartphones & other IoT devices owing to its more accurate personal identification, reduced risks of security breaches, and huge overall growth of the IoT device industry.
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COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the Iris Recognition market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Iris Recognition market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment. Therefore, the report fully covers the profound impact of COVID-19 on this industry, with a special focus on the affected industry segments.
Further key findings from the report suggest
- In June 2020, EyeLock LLC, a leading manufacturer of the iris recognition-based identity authentication solutions, revealed a global strategic partnership with CMITech Company, Ltd. of South Korea. The partnership & collaboration would help broaden the accessibility of the global iris technology market and enable EyeLock to launch new interoperable products in addition to the existing product line.
- The smartphone & tablet sub-segment is growing with the fastest growth rate of 12.6% during the projected era with extensive implementation in the smartphone industry, owing to the incorporation of the iris scanners in the smartphones for their higher accuracy & precision in the multimodal multiple biometrics three-dimensional sensing system that drastically reduces the chances of replication or duplicity.
Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Iris Recognition market.
- The report marks the notable developments that have recently taken place in the Iris Recognition industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Iris Recognition market value chain.
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