What is Global Iris Recognition for Access Control System Market?
The Global Iris Recognition for Access Control System Market is a rapidly evolving sector that focuses on the use of iris recognition technology for access control systems. This technology uses mathematical pattern-recognition techniques on video images of the irises of an individual's eyes, which are unique and can remain unchanged throughout one's life. The market for this technology is expanding globally due to its high accuracy and reliability in identity verification, making it an ideal solution for access control in various sectors. This technology is not only used for security purposes but also for its convenience, as it eliminates the need for physical keys or cards. The market is driven by the increasing need for advanced security and surveillance systems, growing consumer awareness about the benefits of iris recognition, and technological advancements in iris recognition software.
Recognition speed under 1 second, Recognition speed over 1 second in the Global Iris Recognition for Access Control System Market:
The Global Iris Recognition for Access Control System Market is segmented based on recognition speed into two categories: under 1 second and over 1 second. Recognition speed under 1 second is ideal for situations where quick access is required, such as in emergency services or high-traffic areas. On the other hand, recognition speed over 1 second is suitable for environments where security is a top priority, and a slight delay in access is acceptable to ensure only authorized individuals gain entry. The choice between these two options depends on the specific needs and priorities of the user, whether it's speed or security.
BFSI, Residential, Education, Hospital, Government, Others in the Global Iris Recognition for Access Control System Market:
The Global Iris Recognition for Access Control System Market finds its application in various sectors including BFSI, Residential, Education, Hospital, Government, and Others. In the BFSI sector, it is used for secure transactions and access control in ATMs and banks. Residential applications include home security systems to prevent unauthorized access. Educational institutions use it to ensure only authorized students and staff can access certain areas. Hospitals use it for patient identification and access control to restricted areas. Government sectors use it for identity verification in various departments and services. Other applications include corporate security, immigration and border control, and prison security.
Global Iris Recognition for Access Control System Market Outlook:
Looking at the market outlook, in 2023, the Global Iris Recognition for Access Control System Market was valued at US$ 203.1 million. It is projected to reach a value of US$ 295.7 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.4% from 2024 to 2030. This growth can be attributed to the increasing demand for advanced security solutions and the technological advancements in iris recognition technology. In 2019, the market was dominated by major manufacturers, who held over 60% of the market share.
| Report Metric | Details |
| Report Name | Iris Recognition for Access Control System Market |
| Accounted market size in 2023 | US$ 203.1 million |
| Forecasted market size in 2030 | US$ 295.7 million |
| CAGR | 5.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | KT＆C, Audiovox (EyeLock), CMITech, Irisking, WuHan Homsh, Irisian, Beijing Hongan Xiangyu Information Technology, Beijing Wanlihong Technology, DERMALOG, Anviz Global, Thalesgroup, IDEMIA, Panasonic, Iris ID |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
