Yet Another Forecast
Well, it was just yesterday when I wrote the posting about hand geometry recognition, and how it is due to make a comeback in the next few years or so. Today, I bring you another report, and this time it is all about iris recognition. Probably a major reason why all of these reports are coming is because of the start of the year. So what does this forecast say?
I believe it is also compiled by the same organization which organized the hand geometry recognition report. Although no specific revenue markers were mentioned, it is predicted that iris recognition will have explosive growth in the coming years. Why? Here are some of the major reasons:
*It is a contactless technology (which is a huge issue in Biometrics);
*The sudden growth in travel and immigration, especially with the use of the e-Passport will fuel the ignition for iris recognition;
*Government mandates to protect ultra high secure areas such as nuclear plants;
*The growth in the National ID Card worldwide, as well as further demand in the banking and financial sectors;
*It’s great for a single on solution for secure network access;
*The CIVETS countries mentioned in yesterday’s posting will be once again the prime geographic regions for growth;
*The United States is the largest market for iris recognition (which surprises me, I thought the European and Asian nations would have a much larger market share);
*The Middle East Region will be another hotbed for iris recognition, which will experience a growth rate of almost 30%.
These are the reasons according to the report. I have my own reasons why iris recognition will take off even further:
*It is a very rich in data (it has been proven that the iris is different even amongst identical twins); which is truly what we need;
*The template size is relatively small thus reducing network congestion, especially if Biometrics goes to the cloud;
*Probably the biggest reason is with the buyout of Iridian Technologies, and the expiration of their patents, there has been a huge growth in vendors just in the last year or so. They have come out with great and innovative new technology, which I witnessed firsthand at BCC 2012, held in Tampa, FL. This will give the customer much more choice to better fit their security needs.
So, these are probably the biggest reasons why iris recognition will be at the forefront of the market along with vein pattern recognition. But stay tuned for a detailed analysis later on in the summer, as I hope an article on iris recognition I am currently working on will be published.