Though iris recognition technology has traditionally been set firmly in the realm of government, military and banking applications, a new market report from Tractica asserts that, thanks to smartphone authentication tech, the modality is poised for new growth opportunities.
The report, simply titled “Iris Recognition”, predicts that iris recognition device shipments will grow between this year and 2024 from 7.9 million to 55.6 million annually at a CAGR of 24 percent. The numbers include the traditional standalone iris biometric devices and also mobile device components.
Bob Lockhart, Tractica’s principal analyst, explains the growing appeal of iris biometrics: “Innovation and competition have made iris recognition one of the best performing of all biometrics modalities over the past decade. Small templates yield very low false accept rates. Search speeds approach 200 million irises per second. However, iris imaging competes with strong fingerprint recognition technologies, which perform as well but at a lower unit cost.”
Iris recognition was the subject of longstanding myth in the realm of consumer mobile authentication almost immediately after Apple initiated the mobile biometrics revolution with Touch ID. Rumors persisted for years after, asserting that iris scanners would be making their way to one flagship handset or another. Sure enough, the iris modality just recently became a smartphone reality with the release of Fujitsu’s Arrows NX F-04G – the world’s first iris scanning consumer mobile device.
(Originally posted on FindBiometrics)