Global Iris Recognition Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Iris Recognition Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global iris recognition market report has been segmented on the basis of component, product, end use industry, and region.
Global Iris Recognition Market: Overview
Iris recognition is a type of biometric identification method, that scans one or both iris of individual’s eye from a distance. It is uses pattern recognition technique based on distortion free and high resolution images of the iris. Iris recognition commonly follows three steps namely image capturing, locating iris and image optimization, and biometric temperament storage and matching.
Global Iris Recognition Market: Dynamics
Increasing adoption of iris recognition system by private and government organisations, owing to rising concerns regarding security is a key factor driving growth of the global iris recognition market. Iris recognition can be used for pubic as well as private applications. Iris is visible from outside, hence scanning can be done from certain distance. Iris recognition are simpler than retina scan and can be widely deployed. These are some of the factors supporting growth of the global market. Increasing use e-passport is another factor anticipated to fuel growth of the target market. Furthermore, increasing adoption of iris recognition system in smart devices such as smartphones, laptops, tablets, warbles, etc. is a factor expected to support growth of the global iris recognition market over the forecast period.
However, high cost of iris scanners and availability of other alternatives such as face scanners, fingerprint scanners are factors that may hamper growth of the global iris recognition market. Nevertheless, growing adoption of touchless recognition systems can create high revenue opportunities for players in the target market.
Global Iris Recognition Market: Segment Analysis
Among the component segments, the hardware segment is expected to register high growth in terms of revenue in the near future. Hardware for iris recognition includes readers, modules, and iris recognition cameras. Increasing demand for iris recognition system is supporting growth of this segment in the target market.
Among the end use industry segments, the government segment is expected to register lucrative growth in terms of revenue over the forecast period. Increasing installations of iris recognition systems by government institutions, owing to increasing concerns regarding security breaches is a factor fueling growth of this segment in the global market.
Global Iris Recognition Market: Regional Analysis
Market in North America accounts for major share in terms of revenue and is expected to maintain its dominance over the forecast period. Presence of prominent players and high investment in R&D activities for development of advanced technology are factors driving growth of the target market in this region. In addition, increasing adoption of iris recognition in security solutions for providing secure and accurate recognition system is a factor fueling growth of the target market in this region.
Market in Asia Pacific is anticipated to register high growth in terms of revenue in the near future. Growing consumer electronics industry, coupled with increasing adoption of iris recognition in wearables and smart devices are factors propelling growth of the target market in countries in this region.
Global Iris Recognition Market Segmentation:
Segmentation by Component:
Segmentation by Product:
- Tablet & Notebook
Segmentation by end use industry:
- Military & Defense
- Consumer Electronics
- Banking & Finance
- Travel & Immigration
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Iris ID Systems, Inc.
- 3M Cogent, Inc.
- IriTech, Inc.
- SRI International, Inc.
- Smartmatic International Corporation
- Safran SA
- Cross Match Technologies, Inc.
- IrisGuard Incorporated
- EyeLock Inc.
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