Report Code: A09996 | Pages: NA | Mar 2023 | 2262 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Iris Recognition-based Atm Market
Request Now !The iris recognition system is an automated method of biometric identification, which uses mathematical patterns for the recognition techniques on video image of an individual’s eyes. The patterns of an iris are complex, stable, and unique for each individual, which therefore increases the security of the automated teller machine (ATM) transactions. Furthermore, it uses video camera technology with a delicate infrared illumination, which, in turn, clicks the image of the intricate structure of an iris. Therefore, enhanced security for ATM machines and lower cost of investment are expected to boost the iris recognition-based ATM market growth in the near future.
Provision of advanced security to prevent frauds, reduced transaction time, and rising adoption of iris recognition technology by government banks are driving the growth of the market. However, lack of awareness among consumers regarding iris recognition-based ATM usage is expected to hamper the growth of the market. Contrarily, increase in penetration for the iris recognition-based ATM in emerging markets such as china, brazil and others can be seen as an opportunity for the market investments.
The global iris recognition-based ATM market trends are as follows:
Lack of awareness for the safety & security feature provided by iris recognition-based ATM in the developing countries is becoming major factor hampering market growth. Furthermore, for the service to function properly during the COVID-19 outbreak with lower incurring technological costs, the consumers are required to get the sufficient awareness for any iris recognition-based ATM. Moreover, the increased requirement of the iris recognition-based ATM during the pandemic is anticipated to require higher awareness. Therefore, the lack of awareness among the consumers regarding iris recognition-based ATM usage, will hamper the growth of global iris recognition-based ATM market size during the forecast period.
The cash management iris recognition-based ATM automatically verifies the consumers authenticity by via scanner provided by iris ATM. Furthermore, to avoid frauds, the companies are introducing advanced & innovative technologies such as iris recognition-based ATM. In addition, the iris recognition-based ATM’s are difficult to manipulate by the robbers. Moreover, the cash management iris recognition-based ATM are tamper-proof which makes it harder to penetrate the machine. Therefore, the provision of advanced security to prevent frauds is anticipated to foster the global iris recognition-based ATM market growth in the near future.
COVID-19 scenario analysis
Market scope and structure analysis:
Report Metric | Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast units |  Value ($) |
 Segments covered |  Component, Application, End User, and Region |
 Companies covered | Major players analyzed include Thales Group, IDEMIA, Iris ID, IriTech, HID Global, SUPREMA, Safran, NEC Corporation, Infineon Technologies, and CrossMatch Technologies. |
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Key benefits of the report:
Questions answered in the iris recognition-based ATM market research report:Â Â Â Â Â Â Â Â Â Â Â Â Â
Iris Recognition-based ATM Market Report Highlights
Aspects | Details |
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By Component |
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By Application |
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By End User |
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By Region |
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Key Market Players | Thales Group, IDEMIA, Iris ID, IriTech, HID Global, SUPREMA, Safran, NEC Corporation, Infineon Technologies, CrossMatch Technologies. |
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