Iris Recognition Market by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical, and Region - Global Forecast to 2024
The global iris recognition market size is expected to grow from USD 2.3 billion in 2019 to USD 4.3 billion by 2024, at a CAGR of 13.2% during the forecast period. The high adoption of iris recognition technology by government organizations for identification and authentication purposes is the primary driving factor for the growth of the market. The increasing penetration of iris recognition technology in the consumer electronics vertical and high demand for iris scanners for the access control application are a few other key factors positively impacting the growth of the iris recognition industry.
Scanners to account for the largest market share during the forecast period
The iris recognition market, by product, is segmented into smartphones, wearables, tablets & notebooks, PC/laptops, and scanners. Scanners are expected to dominate the market, in terms of size, during the forecast period. The high adoption of iris scanners from government, banking & finance, military & defense, and travel & immigration verticals, especially for the identity management and access control application, is the primary reason behind the largest share of this segment in the iris recognition market.
The market for e-payment application to grow at highest CAGR during the forecast period
The market for the e-payment application is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the growing demand for iris recognition technology to authenticate the user making e-payments. This will help curb the cases of identity fraud and internet fraud and make e-payments more safe and secure.
APAC to account for the largest market share during the forecast period
APAC is expected to account for the largest share of the iris recognition market during the forecast period. APAC is the most attractive business destination for iris recognition products and solution providers due to the growing consumer electronics industry, especially the smartphone market in this region.
Samsung Electronics (South Korea), an essential smartphone and tablet manufacturer, which has adopted iris recognition technology to increase the safety and security features of its latest devices, has its manufacturing facilities located in this region. This factor is also positively impacting the growth of the iris recognition market in APAC.
Key Market Players
Key players in the iris recognition industry include Thales Group (France), IDEMIA (France), Iris ID (US), IriTech (US), and HID Global (US). Thales Group is a well-known player in the digital identity and security market. Strong brand name and customer base are among the key factors that led to the leading position of Thales Group in the iris recognition market. Apart from the strong brand name and customer base, the company has strong R&D capabilities and geographic presence. Thales Group focuses on strategies such as acquisitions and product launches to strengthen its product portfolio and maintain its position in the iris recognition market.
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|
Report Metric |
Details |
|
Market size available for years |
20162024 |
|
Base year considered |
2018 |
|
Forecast period |
20192024 |
|
Forecast units |
Value (USD) |
|
Segments covered |
Component, Product, Application, Vertical, and Region |
|
Regions covered |
Americas, APAC, Europe, and RoW |
|
Companies covered |
Thales Group (France), IDEMIA (France), Iris ID (US), IriTech (US), and HID Global (US), among others (total 20 players are covered). |
This research report categorizes the iris recognition market based on component, product, application, vertical, and region.
By Component
- Hardware
- Software
By Product
- Smartphones
- Wearables
- Tablets & Notebooks
- PCs/ Laptops
- Scanners
By Application
- Identity management and Access Control
- Time Monitoring
- E-Payment
By Vertical
- Government
- Military & Defense
- Healthcare
- Banking & Finance
- Consumer Electronics
- Travel & Immigration
- Automotive
- Others
By Geography
- Americas (US, Canada, Mexico, and Rest of the Americas)
- Europe (UK, Germany, France, and Rest of Europe)
- APAC (China, Japan, India, South Korea, and Rest of APAC)
- RoW (Middle East, and Africa)
Critical questions answered by this report:
- Where will all these developments take the industry in the mid to long term?
- What are the emerging applications of iris recognition technology?
- How are advancements in consumer electronics and other verticals influencing the iris recognition market?
- Which type of iris recognition product is expected to penetrate significantly in the market?
- Which countries are expected to witness significant growth in the market?
Frequently Asked Questions (FAQ):
Which vertical is expected to witness highest growth in the iris recognition market in the next 5 years?
The consumer electronics vertical is expected to witness the highest growth rate in the iris recognition market during the forecast period. Rise in the adoption of iris recognition technology, especially by the smartphone industry, for the access control application is the major reason for the high growth of this vertical in the iris recognition market.
Which is the key application of iris recognition systems?
The key application of iris recognition systems is identity management and access control. For various biometric requirements across the world, such as national ID documents, border control programs, travel & immigration formalities, election administration, iris recognition systems are being deployed for identity management and access control purposes.
Which are the major companies in the iris recognition market? What are their major strategies to strengthen their market presence?
Thales Group (France), IDEMIA (France), Iris ID (US), IriTech (US), HID Global (US), Princeton Identity (US), EyeLock (US), Secure Identity (US), Unisys (US), Aware (US), and NEC Corporation (Japan) are among the key players operating in the iris recognition market. The product launch strategy is one of the major strategies adopted by these players to grow in the iris recognition market.
Which product type will be widely used in the iris recognition market?
The iris scanner is currently the widely used type of iris recognition product in the market and the same trend is expected to continue in the near future. The high adoption of iris scanners from government, banking & finance, military & defense, and travel & immigration verticals is the major reason behind the dominating position of this segment in the iris recognition market.
Which region is expected to witness significant growth in demand for iris recognition products in the coming years?
APAC is the most attractive business destination for iris recognition products and solution providers due to the growing consumer electronics industry, especially the smartphone market in this region.
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Table of Contents
1 Introduction (Page No. - 18)
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 21)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for Research Study
2.4.1 Specific Factors Considered While Estimating and Projecting Market Size
3 Executive Summary (Page No. - 29)
4 Premium Insights (Page No. - 33)
4.1 Attractive Growth Opportunities in Iris Recognition Market
4.2 Market, By Application
4.3 Iris Recognition Market in APAC, By Country and Vertical
4.4 Market, By Vertical
4.5 Iris Recognition Market, By Component
4.6 Market, By Country
5 Market Overview (Page No. - 37)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption of Iris Recognition Technology By Government Organizations for Identification and Authentication Purposes
5.2.1.2 Increasing Penetration Rate of Iris Recognition Technology in Consumer Electronics Industry Especially in Smartphones
5.2.1.3 Surging Demand for Iris Scanners in Access Control Application
5.2.1.4 Growing Use of Iris Recognition Technology in E-Passport Programs
5.2.2 Restraints
5.2.2.1 Fear of Privacy Intrusion and Inconvenience
5.2.2.2 Presence of Various Competing Biometric Technologies
5.2.3 Opportunities
5.2.3.1 Penetration of Biometric Technologies in Automotive Industry
5.2.3.2 Integration of Cloud Computing With Iris Recognition Technology
5.2.3.3 Use of Iris Recognition Technology in E-Commerce
5.2.4 Challenges
5.2.4.1 Complexity of Integrating Iris Recognition Technology Into Conventional Identification Solutions
5.3 Value Chain Analysis
6 Iris Recognition Market, By Component (Page No. - 43)
6.1 Introduction
6.2 Hardware
6.2.1 Iris Camera is Most Critical Hardware Component of Iris Recognition System
6.3 Software
6.3.1 Software Segment to Continue to Hold Largest Size of Market During Forecast Period
7 Iris Recognition Market, By Product (Page No. - 52)
7.1 Introduction
7.2 Smartphones
7.2.1 Rising Penetration of Biometric Technologies in Smartphones Boosting Growth of Market for Smartphones
7.3 Wearables
7.3.1 Iris Recognition Technology Expected to Witness High Penetration in Smart Wearables
7.4 Tablets & Notebooks
7.4.1 Declining Shipment of Tablets to Negatively Impact Market for Tablets & Notebooks
7.5 Personal Computers/Laptops
7.5.1 Americas to Continue to Hold Largest Size of Market for Personal Computers/Laptops During Forecast Period
7.6 Scanners
7.6.1 Government Vertical to Witness Largest Size of Market for Scanners During Forecast Period
8 Iris Recognition Market, By Application (Page No. - 65)
8.1 Introduction
8.2 Identity Management and Access Control
8.2.1 Consumer Electronics Vertical is Driving Growth of Market for Identity Management and Access Control Application
8.3 Time Monitoring
8.3.1 Americas is Registering Largest Size of Market for Time Monitoring Application
8.4 E-Payment
8.4.1 Increasing Preference for Cashless Payments By Consumers Driving Growth of Market for E-Payment Application
9 Iris Recognition Market, By Vertical (Page No. - 76)
9.1 Introduction
9.2 Government
9.2.1 APAC Region Witnessing Highest Growth of Market for Government Vertical
9.3 Military & Defense
9.3.1 Identity Management and Access Control Application Dominates Iris Recognition Market for Military & Defense Vertical
9.4 Healthcare
9.4.1 Rise in Adoption of Biometrics for Applications Such as Patient Identification, Patient Security, and Staff Attendance Tracking Driving Growth of Market in Healthcare Vertical
9.5 Banking & Finance
9.5.1 Banking & Financial Institutes are Adopting Iris Recognition Systems to Tackle Critical Security Challenges
9.6 Consumer Electronics
9.6.1 Smartphone Industry Drives Growth of Market for Consumer Electronics Vertical
9.7 Travel & Immigration
9.7.1 Identity Management and Access Control Application Dominates Market for Travel & Immigration Vertical
9.8 Automotive
9.8.1 Europe Expected to Continue to Hold Largest Size of Market for Automotive Vertical During Forecast Period
9.9 Others
10 Geographic Analysis (Page No. - 89)
10.1 Introduction
10.2 Americas
10.2.1 US
10.2.1.1 US Accounted for Largest Share of Market in Americas
10.2.2 Canada
10.2.2.1 Government, and Travel and Immigration are Two Key Verticals Generating High Demand for Iris Recognition Systems in Canada
10.2.3 Mexico
10.2.3.1 Need for Increasing Security is Driving Growth of Market in Mexico
10.2.4 Rest of Americas
10.3 Europe
10.3.1 UK
10.3.1.1 Government, and Travel and Immigration are Key Verticals in Market in UK
10.3.2 Germany
10.3.2.1 Automotive Vertical is Significant Contributor Toward Growth of Market in Germany
10.3.3 France
10.3.3.1 France to Witness Significant Growth in Market in Europe
10.3.4 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 China Dominates Iris Recognition Market in APAC
10.4.2 Japan
10.4.2.1 Focus on Improving Security Drives Growth of Market in Japan
10.4.3 India
10.4.3.1 India Presents Huge Opportunity for Market
10.4.4 South Korea
10.4.4.1 Consumer Electronics is Among Key Verticals Contributing Significantly Toward Growth of Market in South Korea
10.4.5 Rest of APAC
10.5 RoW
10.5.1 Middle East
10.5.1.1 Middle East Dominates Iris Recognition Market in RoW
10.5.2 Africa
10.5.2.1 Government Vertical is Major Contributor Toward Growth of Market in Africa
11 Competitive Landscape (Page No. - 118)
11.1 Overview
11.2 Market Ranking Analysis: Iris Recognition Market
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Benchmarking
11.4.1 Strength of Product Portfolio (20 Players)
11.4.2 Business Strategy Excellence (20 Players)
11.5 Competitive Situations and Trends
11.5.1 Product Launches and Developments
11.5.2 Expansions and Acquisitions
11.5.3 Partnerships and Agreements
12 Company Profiles (Page No. - 126)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.1 Key Players
12.1.1 Thales Group
12.1.2 Idemia
12.1.3 HID Global
12.1.4 Iris ID
12.1.5 Iritech
12.1.6 Irisguard
12.1.7 Eyelock
12.1.8 NEC Corporation
12.1.9 Princeton Identity
12.1.10 Cmitech
12.2 Other Companies
12.2.1 Bioenable Technologies
12.2.2 Secure Identity
12.2.3 4G Identity Solutions
12.2.4 Bi² Technologies
12.2.5 Mantra Softech
12.2.6 Aware
12.2.7 Unisys
12.2.8 Neurotechnology
12.2.9 Efg Cz Spol. S R. O.
12.2.10 Dermalog Identification Systems
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 151)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (126 Tables)
Table 1 Comparison of Various Biometric Technologies
Table 2 Iris Recognition Market, By Component, 20162024 (USD Million)
Table 3 Market for Hardware, By Product, 20162024 (USD Million)
Table 4 Market for Hardware, By Subcomponent, 20162024 (USD Million)
Table 5 Market for Hardware, By Region, 20162024 (USD Million)
Table 6 Market for Hardware in Americas, By Country, 20162024 (USD Million)
Table 7 Market for Hardware in Europe, By Country, 20162024 (USD Million)
Table 8 Market for Hardware in APAC, By Country, 20162024 (USD Million)
Table 9 Market for Hardware in RoW, By Region, 20162024 (USD Million)
Table 10 Market for Software, By Product, 20162024 (USD Million)
Table 11 Market for Software, By Subcomponent, 20162024 (USD Million)
Table 12 Market for Software, By Region, 20162024 (USD Million)
Table 13 Market for Software in Americas, By Country, 20162024 (USD Million)
Table 14 Market for Software in Europe, By Country, 20162024 (USD Million)
Table 15 Market for Software in APAC, By Country, 20162024 (USD Million)
Table 16 Market for Software in RoW, By Region, 20162024 (USD Million)
Table 17 Market, By Product, 20162024 (USD Million)
Table 18 Market for Smartphones, By Component, 20162024 (USD Million)
Table 19 Market for Smartphones, By Region, 20162024 (USD Million)
Table 20 Market for Wearables, By Component, 20202024 (USD Million)
Table 21 Market for Wearables, By Region, 20202024 (USD Million)
Table 22 Market for Tablets & Notebooks, By Component, 20162024 (USD Million)
Table 23 Market for Tablets & Notebooks, By Region, 20162024 (USD Million)
Table 24 Market for Personal Computers/Laptops, By Component, 20162024 (USD Million)
Table 25 Market for Personal Computers/Laptops, By Region, 20162024 (USD Million)
Table 26 Market for Scanners, By Component, 20162024 (USD Million)
Table 27 Market for Scanners, By Region, 20162024 (USD Million)
Table 28 Market for Scanners, By Vertical, 20162024 (USD Million)
Table 29 Market for Scanners in Government Vertical, By Region, 20162024 (USD Million)
Table 30 Market for Scanners in Military & Defense Vertical, By Region, 20162024 (USD Million)
Table 31 Market for Scanners in Healthcare Vertical, By Region, 20162024 (USD Million)
Table 32 Market for Scanners in Banking & Finance Vertical, By Region, 20162024 (USD Million)
Table 33 Market for Scanners in Consumer Electronics Vertical, By Region, 20162024 (USD Million)
Table 34 Market for Scanners in Travel & Immigration Vertical, By Region, 20162024 (USD Million)
Table 35 Market for Scanners in Automotive Vertical, By Region, 20162024 (USD Million)
Table 36 Market for Scanners in Other Verticals, By Region, 20162024 (USD Million)
Table 37 Market, By Application, 20162024 (USD Million)
Table 38 Market for Identity Management and Access Control Application, By Vertical, 20162024 (USD Million)
Table 39 Market for Identity Management and Access Control Application, By Region, 20162024 (USD Million)
Table 40 Market for Identity Management and Access Control Application in Americas, By Country, 20162024 (USD Million)
Table 41 Market for Identity Management and Access Control Application in Europe, By Country, 20162024 (USD Million)
Table 42 Market for Identity Management and Access Control Application in APAC, By Country, 20162024 (USD Million)
Table 43 Market for Identity Management and Access Control Application in RoW, By Region, 20162024 (USD Million)
Table 44 Market for Time Monitoring Application, By Vertical, 20162024 (USD Million)
Table 45 Market for Time Monitoring Application, By Region, 20162024 (USD Million)
Table 46 Market for Time Monitoring Application in Americas, By Country, 20162024 (USD Million)
Table 47 Market for Time Monitoring Application in Europe, By Country, 20162024 (USD Million)
Table 48 Market for Time Monitoring Application in APAC, By Country, 20162024 (USD Million)
Table 49 Market for Time Monitoring Application in RoW, By Region, 20162024 (USD Million)
Table 50 Market for E-Payment Application, By Vertical, 20162024 (USD Million)
Table 51 Market for E-Payment Application, By Region, 20162024 (USD Million)
Table 52 Market for E-Payment Application in Americas, By Country, 20162024 (USD Million)
Table 53 Market for E-Payment Application in Europe, By Country, 20162024 (USD Million)
Table 54 Market for E-Payment Application in APAC, By Country, 20162024 (USD Million)
Table 55 Market for E-Payment Application in RoW, By Region, 20162024 (USD Million)
Table 56 Market, By Vertical, 20162024 (USD Million)
Table 57 Market for Government Vertical, By Region, 20162024 (USD Million)
Table 58 Market for Government Vertical, By Application, 20162024 (USD Million)
Table 59 Market for Military & Defense Vertical, By Region, 20162024 (USD Million)
Table 60 Market for Military & Defense Vertical, By Application, 20162024 (USD Million)
Table 61 Market for Healthcare Vertical, By Region, 20162024 (USD Million)
Table 62 Market for Healthcare Vertical, By Application, 20162024 (USD Million)
Table 63 Market for Banking & Finance Vertical, By Region, 20162024 (USD Million)
Table 64 Market for Banking & Finance Vertical, By Application, 20162024 (USD Million)
Table 65 Market for Consumer Electronics Vertical, By Region, 20162024 (USD Million)
Table 66 Market for Consumer Electronics Vertical, By Application, 20162024 (USD Million)
Table 67 Market for Travel & Immigration Vertical, By Region, 20162024 (USD Million)
Table 68 Market for Travel & Immigration Vertical, By Application, 20162024 (USD Million)
Table 69 Market for Automotive Vertical, By Region, 20162024 (USD Million)
Table 70 Market for Automotive Vertical, By Application, 20162024 (USD Million)
Table 71 Market for Other Verticals, By Region, 20162024 (USD Million)
Table 72 Market for Other Verticals, By Application, 20162024 (USD Million)
Table 73 Market, By Region, 20162024 (USD Million)
Table 74 Market in Americas, By Product, 20162024 (USD Million)
Table 75 Market in Americas, By Application, 20162024 (USD Million)
Table 76 Market in Americas, By Vertical, 20162024 (USD Million)
Table 77 Market in Americas, By Country, 20162024 (USD Million)
Table 78 Market in Americas, By Component, 20162024 (USD Million)
Table 79 Market in US, By Component, 20162024 (USD Million)
Table 80 Market in US, By Application, 20162024 (USD Million)
Table 81 Market in Canada, By Component, 20162024 (USD Million)
Table 82 Market in Canada, By Application, 20162024 (USD Million)
Table 83 Market in Mexico, By Component, 20162024 (USD Million)
Table 84 Market in Mexico, By Application, 20162024 (USD Million)
Table 85 Market in Rest of Americas, By Component, 20162024 (USD Million)
Table 86 Market in Rest of Americas, By Application, 20162024 (USD Million)
Table 87 Market in Europe, By Product, 20162024 (USD Million)
Table 88 Market in Europe, By Application, 20162024 (USD Million)
Table 89 Market in Europe, By Vertical, 20162024 (USD Million)
Table 90 Market in Europe, By Country, 20162024 (USD Million)
Table 91 Market in Europe, By Component, 20162024 (USD Million)
Table 92 Market in UK, By Component, 20162024 (USD Million)
Table 93 Market in UK, By Application, 20162024 (USD Million)
Table 94 Market in Germany, By Component, 20162024 (USD Million)
Table 95 Market in Germany, By Application, 20162024 (USD Million)
Table 96 Market in France, By Component, 20162024 (USD Million)
Table 97 Market in France, By Application, 20162024 (USD Million)
Table 98 Market in Rest of Europe, By Component, 20162024 (USD Million)
Table 99 Market in Rest of Europe, By Application, 20162024 (USD Million)
Table 100 Market in APAC, By Product, 20162024 (USD Million)
Table 101 Market in APAC, By Application, 20162024 (USD Million)
Table 102 Market in APAC, By Vertical, 20162024 (USD Million)
Table 103 Market in APAC, By Country, 20162024 (USD Million)
Table 104 Market in APAC, By Component, 20162024 (USD Million)
Table 105 Market in China, By Component, 20162024 (USD Million)
Table 106 Market in China, By Application, 20162024 (USD Million)
Table 107 Market in Japan, By Component, 20162024 (USD Million)
Table 108 Market in Japan, By Application, 20162024 (USD Million)
Table 109 Market in India, By Component, 20162024 (USD Million)
Table 110 Market in India, By Application, 20162024 (USD Million)
Table 111 Market in South Korea, By Component, 20162024 (USD Million)
Table 112 Market in South Korea, By Application, 20162024 (USD Million)
Table 113 Market in Rest of APAC, By Component, 20162024 (USD Million)
Table 114 Market in Rest of APAC, By Application, 20162024 (USD Million)
Table 115 Market in RoW, By Product, 20162024 (USD Million)
Table 116 Market in RoW, By Application, 20162024 (USD Million)
Table 117 Market in RoW, By Vertical, 20162024 (USD Million)
Table 118 Market in RoW, By Region, 20162024 (USD Million)
Table 119 Market in RoW, By Component, 20162024 (USD Million)
Table 120 Market in Middle East, By Component, 20162024 (USD Million)
Table 121 Market in Middle East, By Application, 20162024 (USD Million)
Table 122 Market in Africa, By Component, 20162024 (USD Million)
Table 123 Market in Africa, By Application, 20162024 (USD Million)
Table 124 Product Launches and Developments, 20172019
Table 125 Expansions and Acquisitions, 20172019
Table 126 Partnerships and Agreements, 2019
List of Figures (37 Figures)
Figure 1 Iris Recognition Market Segmentation
Figure 2 Process Flow: Market Size Estimation
Figure 3 Market: Research Design
Figure 4 Iris Recognition Market: Bottom-Up Approach
Figure 5 Market: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Market, 20162024 (USD Billion)
Figure 8 Software Segment to Account for Larger Market Size By 2024
Figure 9 Identity Management and Access Control Application to Hold Largest Size of By 2024
Figure 10 Scanners to Account for Largest Market Size By 2024
Figure 11 APAC Dominated Iris Recognition Market in 2018
Figure 12 Increasing Adoption of Iris Recognition Technology in APAC Driving Market Growth
Figure 13 Identity Management and Access Control Application to Capture Largest Share of Market During Forecast Period
Figure 14 China and Consumer Electronics to Hold Largest Share of Market in APAC, By Country and Vertical, Respectively, in 2019
Figure 15 Government Vertical to Hold Largest Market Size in Market in 2019
Figure 16 Hardware to Exhibit Higher CAGR in Market During 20192024
Figure 17 US to Hold Largest Share of Market in 2019
Figure 18 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Global Smartphone Shipments, 20142017 (Billion Units)
Figure 20 Value Chain Analysis: Major Value is Added During Component and System Manufacturing Phases
Figure 21 Iris Recognition , By Component
Figure 22 Software Segment to Hold Larger Size of Market During Forecast Period
Figure 23 Iris Recognition , By Product
Figure 24 Scanners to Hold Largest Size of Market During Forecast Period
Figure 25 Software in Personal Computers/Laptops to Hold Larger Size of Market During Forecast Period
Figure 26 Iris Recognition , By Application
Figure 27 Identity Management and Access Control Application to Dominate Iris Recognition in Terms of Size During Forecast Period
Figure 28 Iris Recognition Market, By Vertical
Figure 29 Consumer Electronics Vertical to Exhibit Highest CAGR in Market During Forecast Period
Figure 30 Market in India to Witness Highest CAGR During Forecast Period
Figure 31 Snapshot of Market in Americas
Figure 32 Snapshot of Market in Europe
Figure 33 Snapshot of Market in APAC
Figure 34 Market Ranking of Key Players in Market, 2018
Figure 35 Market (Global) Competitive Leadership Mapping, 2018
Figure 36 Thales Group: Company Snapshot
Figure 37 NEC Corporation: Company Snapshot
The study involved four major activities in estimating the current size of the iris recognition market. Exhaustive secondary research was done to collect information on the market and its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were employed to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. These secondary sources include biometric technologies journals and magazines, IEEE journals; annual reports, press releases, and investor presentations of companies; white papers; certified publications and articles from recognized authors; and directories and databases such as Factiva, Hoovers, and OneSource.
Primary Research
In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the iris recognition market. After complete market engineering (including calculations regarding market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information as well as verify and validate the critical numbers arrived at.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the iris recognition market and other dependent submarkets listed in this report.
- Key players in the industry and markets have been identified through extensive secondary research.
- In terms of value, the industrys supply chain and market size have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the global market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed wherever applicable. The data has been triangulated by studying various factors and trends identified from both demand and supply sides in government, consumer electronics, healthcare, banking & finance, travel & immigration, automotive, and military & defense verticals, among others.
Report Objectives
The following are the primary objectives of the study.
- To describe and forecast the iris recognition market, in terms of value, by component, product, application, and vertical
- To define and forecast the iris recognition market, in terms of value, by regionthe Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges that influence the market growth
- To provide a comprehensive overview of the iris recognition value chain
- To strategically analyze micromarkets for individual growth trends, prospects, and contributions to the total market
- To profile key players and comprehensively analyze their ranking based on their revenues and core competencies, along with detailing the competitive landscape for market leaders
- To analyze competitive developments such as expansions, agreements, partnerships, acquisitions, product developments, and research and development (R&D) in the iris recognition market
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