LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global iris recognition in access control market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Ishmeet Kaur, lead analyst from Technavio, specializing in research on automatic identification system sector, says, “Since the chances of an imposter breaking through various biometric technologies such as fingerprint recognition are high, it is predicted that a number of vendors will invest in development and manufacturing of multimodal biometric access control system as it would reduce the chances of unauthorized personnel gaining access to the premises. This trend is expected to be highly adopted by sectors such as government and BFSI, which contain confidential information related to financial details of an individual.”
According to Technavio analysis, a number of vendors will shift toward adoption of the cloud for storage of biometrics as it provides easy data recovery and system restoration model. Since the government and BFSI sectors contain a huge amount of biometric data due to the implementation of government initiatives, the likelihood of the adoption of cloud-based biometrics in these sectors is high. Further, the BFSI sector contains confidential financial data, so securing biometrics data of individuals is important. This is expected to affect the adoption of cloud-based biometrics in banks and other financial institutions.
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The top three emerging trends driving the global iris recognition in access control market according to Technavio ICT research analysts are:
- Introduction of iris recognition into multimodal biometrics
- Use of iris recognition biometrics in BFSI sector
- Use of iris recognition biometrics in education sector
Introduction of iris recognition into multimodal biometrics
In certain situations, using only one form of biometric identification does not provide an accurate match of the identity of an individual. Multimodal biometrics provides more accuracy, as it identifies an individual with a combination of two or more biometrics technologies for secure authentication. These biometrics systems are more reliable, secure, and also avoid spoofing attacks.
“Multimodal biometrics using iris recognition combined with facial and fingerprint identification are widely accepted for border control. In some multimodal biometrics, both fingerprint and iris recognition technology are available in a single device, which allows the end-user to avoid purchasing two separate biometric devices,” according to Ishmeet.
Use of iris recognition biometrics in BFSI sector
Iris recognition biometrics are used in the BFSI sector as a replacement for PINs, account numbers, and paper-based credentials to enable customers to their check account balance, make transactions, and access other banking services from remote locations. Further, to gain access to ATMs, customers are required to use smart cards with an iris template in place of passwords. Since an iris pattern cannot be faked, copied, or stolen, iris biometrics-based ATMs are considered to be more secure than PIN-based ATMs.
Moreover, customers tend to forget their PINs and passwords. The process for obtaining a new PIN or password is also quite tedious. For instance, in 2015, to deliver secure banking services to its clients, Qatar bank QNB deployed iris recognition system from IrisGuard in its branches and ATMs.
Use of iris recognition biometrics in education sector
Iris biometrics technology is used in the education sector for a number of applications such as libraries, cashless canteen systems, vending machines, time and attendance systems, and school payments. Teachers can also use it to update the performance of students. With growing instances of security threats, several schools have incorporated iris-based biometrics and access control systems to ensure the safety of students and staff.
In addition, with technological advances and rising security concerns, iris biometrics technology is used to authenticate individuals for online examinations. Schools are using this technology for identification purposes, thus eliminating the need for ID cards and badges. For instance, a number of schools under National Institute of Justice (NIJ) in New Jersey, US, are using iris recognition biometrics technology to control access of parents, teachers, and staff members to the school premises and prevent any unwanted activities.
The top vendors are as follows:
- 3M Cogent
- Crossmatch Technologies
- Iris ID
Browse Related Reports:
- Global Touchless Sensing Equipment Market 2016-2020
- Global Access Control Solutions Market 2016-2020
- Global Multi-modal Biometrics Market 2016-2020
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