An emerging market analysis titled “Anticipated Trends, Drivers of Growth, and Obstacles in the Iris Recognition-based ATM Market” has been showcased on Report Ocean.
The “Global Iris Recognition-based ATM Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Iris Recognition-based ATM Market.
Global Iris Recognition-based ATM Market is valued at approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2029.
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Iris Recognition-based ATM is a type of Automated Teller Machine that is based on the iris recognition system. Iris recognition is also known as iris scanning is the process of using visible and near-infrared light to take a photograph of an individual’s iris. Furthermore, Iris recognition measures the unique patterns in the coloured portion of the eye called the iris and compares that pattern with the system record to authentication of identity. The increasing network of ATMs worldwide and growing adoption of advanced security to prevent fraud as well as strategic initiatives from leading market players are key factors accelerating the market growth.
The increasing deployment of Automated Teller Machines (ATM) worldwide is contributing to the growth of the Global Iris Recognition-based Market. For instance, according to Statista – in 2019, globally there were around 40.75 ATMs for every 100,000 adults, and the ATM network further increased to 41.24 for every 100,000 adults. Also, rising urbanization in developing regions and growing expansion of the financial services sector worldwide would create lucrative growth prospects for the market over the forecast period. However, the lack of consumer awareness of iris recognition-based ATMs impedes the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Iris Recognition-based ATM Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to the presence of leading market players and the availability of required technological infrastructure in the region. Whereas the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising expansion of the financial services industry and increasing deployment of new ATMs by private banking players in the region.
Major market players included in this report are:
- Thales Group
- IDEMIA
- Iris ID Systems Inc
- IriTech, Inc
- HID Global Corp.
- SUPREMA Inc
- Safran
- NEC Corporation
- Infineon Technologies AG
- CrossMatch Technologies
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Recent Developments in the Market:
In November 2021, Iris recognition system developer IrisGuard has released its new generation of iris cameras for integrating biometrics with ATMs and kiosks.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component
Hardware
Software
By Application
Deposits
Withdrawals
By End User
Public Banks
Private Banks
By Region:
North America: U.S., Canada
Europe: UK, Germany, France, Spain, Italy, Rest of Europe (ROE)
Asia Pacific: China, India, Japan, Australia, South Korea, Rest of Asia Pacific (RoAPAC)
Latin America: Brazil, Mexico, Rest of Latin America (RoLA)
Rest of the World
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Iris Recognition-based ATM market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Iris Recognition-based ATM market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Iris Recognition-based ATM market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the global Iris Recognition-based ATM market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Iris Recognition-based ATM market. It encapsulates indispensable insights extracted from the Iris Recognition-based ATM Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Iris Recognition-based ATM market, including:
- What can be expected for the Iris Recognition-based ATM market in the next decade?
- What are the primary drivers of growth in the global Iris Recognition-based ATM market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Iris Recognition-based ATM market vary based on the size of the end market?
- What is the breakdown of Iris Recognition-based ATM by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Iris Recognition-based ATM market?
Our most recent research report showcases the thriving expansion of the global Iris Recognition-based ATM Market and offers in-depth insights into the projected market size, share, and revenue until 2031.
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