Biometric Eye Scanner Door Lock System Market Overview and investment Analysis 2020 - 2030
Biometric eye scanner door lock system market is viewed as a smart move in the age of smart homes. The mechanism of these systems is based on the basic biometric principle and it utilizes either retina scanner or iris scanner for the real-time authentication of individual identity. Iris scanners use high-resolution cameras and infrared light to produce a detailed map of the iris. This information is then converted into a template that becomes an individual’s biometric identification. High resolution eye images are crucial to produce an accurate identification pattern and to enhance the security and safety of the premises.
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Key Drivers of the Global Biometric Eye Scanner Door Lock System Market
Rising investment in biometric security solutions is driving the demand for biometric eye scanner door lock systems. Techno-savvy millennial population is increasingly preferring advanced solutions for secure businesses and residential places.
Further, the accuracy of eye scans is far better than any other biometric technology such as fingerprint matching and facial recognition software. With a false-positive rate of just 1 in 1.5 million, the accuracy of a quality iris scan is beaten only by a DNA sample.
Key Challenges for the Global Biometric Eye Scanner Door Lock System Market
High cost of eye scanner door lock systems is the key challenge for the global market. The use of eye scanners in door lock systems is still in the development phase, especially in developing countries. These door lock systems must comply with various standards and regulations in the international and local market.
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Further, the cost of technology development and low demand in the residential segment limits the entry of new market players. However, many R&D institutes are collaborating with the companies involved in the development of biometric security devices to design integrated and cost effective door lock systems based on iris scanning.
Smart Home Trend Expected to Offer Significant Market Opportunities for Biometric Eye Scanner Door Lock Systems
The smart home trend has become very popular across the globe with rapid prevalence of IoT. In recent years, IoT has enabled the connection of everyday devices in homes to the internet and to each other to make living spaces more economical, comfortable, safe, and entertaining. The trend is expected to continue over the next decade with the high demand for smart home appliances such as televisions, safety and security devices, and kitchen appliances.
Impact of COVID-19 on the Biometric Eye Scanner Door Lock System Market
The post-pandemic world is expected to offer significant opportunities although the COVID-19 pandemic has caused significant disruption in the industry. More adoption of IoT technology is expected with more people staying at home and closer to home. A larger base of IoT users will lead to growth of the industry, more user upgrades, and additional technology development in the long term. Furthermore, corporate leaders are anticipated to capitalize on the IoT enabled infrastructure for secure and safe business facilities.
North America identified as the Dominant Biometric Eye Scanner Door Lock System Market
By geography, the global biometric eye scanner door lock system market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
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Key Players Operating in the Global Market
Key companies are investing in strategic partnerships and collaborations to strengthen their market position and to expand their technical expertise. Moreover, companies are focused on the standardization of solutions with most of the products developed in accordance with CE, IEC 608251-1, UL 294, and UL 60950-1 standards. Strict adherence to quality management systems and environmental management systems helps to gain competitive advantage in the global marketplace. A network of system integration and security solution providers is used to serve the worldwide customer base.
Some of the major companies identified in the global biometric eye scanner door lock system market are:
- EyeLock LLC
- G Automation System
- KT&C
- Fulcrum Biometrics, Inc.
- Infratherm Pty Ltd
- UBKEY Innovation Inc.
- INJES Technology Co., Limited
- HXYL
- Wu Lian
- Dongguan Yinlang Electronic Technology Co., LTD.
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