Iris Recognition Market

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 2027

Report Code: SE 3758 Nov, 2022, by marketsandmarkets.com

The iris recognition market is projected to grow from USD 3.7 billion in 2022 to USD 8.4 billion by 2027, registering a CAGR of 17.7% during the forecast period.

 Cloud computing is a well-researched domain for various computational means. The use of iris recognition technology in cloud computing ensures high-level security, contrary to the conventional methods of securing data. Key factors driving the iris recognition market include the integration of cloud computing with iris recognition technology, increased adoption of iris recognition in the banking & finance industry to avoid fraudulent activities, and use of iris recognition technology for identification and authentication purposes by government organizations. Players in the iris recognition market adopted growth strategies such as product launches, partnerships, collaborations, and strategic alliances to cater to the growing demand for iris recognition systems and expand their global footprint to all the major regions.

The objective of the report is to define, describe, and forecast the iris recognition market based on component, product, application, vertical, and region.

Iris Recognition Market

Iris Recognition Market Forecast to 2027

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Iris recognition market dynamics

Driver : Increased adoption of iris recognition technology for identification and authentication by government organizations

The government sector is one of the early adopters of iris recognition technology, generating high demand for its products and solutions. This is among the major factors fueling the growth of the iris recognition market. Government organizations/agencies/departments worldwide utilize iris recognition technology for identification and authentication purposes. For instance, the Federal Bureau of Investigation (FBI) worked with local, state, tribal, and federal agencies to build the National Crime Information Center (NCIC) and the Next Generation Identification (NGI) systems. These systems make use of iris recognition as a reliable means of identification.

Furthermore, the market is expected to expand through new agreements and contracts with governmental bodies and other end users. For instance, in April 2021, EyeLock LLC, a provider of iris identity authentication solutions and a subsidiary of VOXX International Corporation, was awarded a contract to control individual access to the four data center facilities in charge of monitoring and controlling all governmental buildings, streets, and service providers for Egypt's New Capital City.

Restraint: Presence of competing biometric technologies

Various biometric technologies, such as face recognition, fingerprint recognition, iris recognition, voice recognition, and vascular recognition, are available in the market. Based on the advantages and disadvantages of these technologies, their acceptability in the market varies. Iris recognition technology faces high competition from face and fingerprint recognition technologies. One of the primary reasons for this is its high cost. The prices of iris scanners are higher than their substitutes, such as face and fingerprint detection systems. Consequently, the increased adoption of fingerprint and face recognition biometric systems in many industries, such as travel, commercial offices, and others, impedes market growth.

Opportunities : Penetration of biometric technologies in automotive and military & defense sectors

In the automotive sector, touchless biometric products are expected to witness high demand in the coming years. The scanning of the vein, face, iris, or finger can be used for various applications, including user/driver authentication, in-car payment, in-cabin personalization, and intra-vehicle network encryption. Many automobile giants, such as Ford Motor Company (US), Audi AG (Germany), and BMW AG (Germany), are working on deploying touchless biometric systems in their cars. Iris-recognition-based biometric systems are becoming popular in the automotive sector due to their ability to work in dark environments, high accuracy, and non-contact features.

The increased adoption of iris recognition in the military & defense sector also propels market demand. The American military has used iris-scanning technology to identify prisoners in Afghanistan and Iraq. For instance, even in remote locations with poor internet, military troops can quickly transfer iris, fingerprint, and face scan data to a West Virginia FBI database using the portable biometrics recorder SEEK II.

Challenges : Complexity of integrating iris recognition technology into conventional identification solutions

One major challenge in deploying iris recognition technology is integrating it with existing systems to enable security, surveillance, and access control. Since iris biometrics technology is undergoing various advancements, such as the deployment of high-definition camera technology, algorithms, and other analytics solutions, the integration of this technology with other biometric devices has become more complex.

Government to acquire significant share by vertical in iris recognition market

The government holds a significant share in the iris recognition vertical segment. Many companies operating in the iris recognition market are offering iris recognition systems to organizations from the government sector. For instance, IriTech (UK) offers the IriShield series of iris recognition products to various government organizations, including the United Nations High Commissioner for Refugees (UNHCR), the Indian government, and the Kenyan government. Additionally, in 2021, a new partnership between Iris ID Systems Inc. and Aware Inc. was announced. This company supplies iris recognition and identity identification technologies for state and local governments to utilize the FBI's Next Generation Identification (NGI) Iris Service.

Scanner to own maximum share by product in iris recognition market

The government, banking & finance, military & defense, and travel & immigration are the major demand-generating verticals for iris scanners. The spike in cybercrime cases is one of the primary reasons for the market expansion of iris scanners. Companies in the iris recognition market are developing new iris scanners to meet the demands of their customers. For instance, Princeton Identity (US) launched the new IOM Access600e iris and face biometric capture device.

Iris recognition market to witness highest demand from Asia Pacific

The dominant position of China in the Asia Pacific iris recognition market can be attributed to the deployment of iris recognition technology in consumer electronics, government, and travel & immigration verticals. Manufacturing plants of leading consumer electronics providers boost the demand for iris recognition products and solutions in this country. Low labor costs and the easy availability of raw materials are a few key factors that have made China a favorable destination for consumer electronics manufacturers, especially mobile phone manufacturers. For instance, in smartphone manufacturing, 16 rare-earth metals, such as scandium and yttrium, are used, and China has vast reserves of most of these metals. The demand for advanced security systems is also expected to rise in China.

The country is currently involved in transportation infrastructure projects, including railways, airports, ports, and highways. This is likely to generate demand for advanced security systems, such as biometric systems, accelerating the growth of the iris recognition market in China. In May 2021, the South Korean government announced a USD 451 billion expenditure on the domestic production of semiconductors. The government shall assist the companies through tax incentives, lower interest rates, favorable regulations, corporate investments, and support packages. Such advancements are expected to upscale the deployment of biometric systems in the South Korean iris recognition market. The initiatives by the government to provide advanced and upgraded services to citizens, along with developing smart cities, are expected to offer growth opportunities for the iris recognition market in Asia Pacific.

Iris Recognition Market by Region

Iris Recognition Market by Region

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Key Market Players in iris recognition market

Major vendors in the iris recognition market include Thales (France), IDEMIA (France), HID Global Corporation (US), Iris ID, Inc. (US), IriTech, Inc. (US), IrisGuard Ltd. (UK), EyeLock LLC (US), NEC Corporation (Japan), Princeton Identity (US), and CMITech Company, Ltd. (Korea), among others.

Iris Recognition Market Report Scope :

Report Metric

Details

Estimated Market Size USD 3.7 Billion
Projected Market Size USD 8.4 Billion
Growth Rate   15.4%

Market Size Available for Years

2018–2027

Base Year

2021

Forecast Period

2022–2027

Units

Value (USD Million/USD Billion)

Segments Covered

  • By Component,
  • By Product,
  • By Application,
  • By Vertical,
  • By Region

Regions Covered

  • North America,
  • Europe,
  • Asia Pacific, and
  • RoW

Companies Covered

  • Thales (France),
  • IDEMIA (France),
  • IrisGuard Ltd (UK),
  • NEC Corporation (Japan), and
  • CMITech Company, Ltd. (Korea)
    A total of 26 players are profiled in the report.
Top Companies in North America
  • HID Global Corporation (US),
  • Iris ID, Inc. (US),
  • IriTech, Inc. (US)
  • EyeLock LLC (US), 
  • Princeton Identity (US)
Key Market Driver Increased adoption of iris recognition technology for identification and authentication by government
Key Market Opportunity  Penetration of biometric technologies in automotive and military & defense sectors
Largest Growing Region   Asia Pacific
Largest Market Share Segment  Scanner to own maximum
Largest Application Market Share  Identity management & access control
   

Iris Recognition Market Highlights

This report categorizes the iris recognition market based on component, product, application, vertical, and region.

Aspect

Details

By Component

  • Hardware
  • Software

By Product

  • Smartphones
  • Wearables
  • Tablets & Notebooks
  • Personal Computers/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 Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • RoW
    • Middle East
    • Africa
    • South America

 

Recent developments in iris recognition market :

  • In March 2022, IriTech, Inc stepped up its iris recognition products by releasing IriShield Binocular (BK2121) and cloud-based iris recognition service (IriSecureID). IriTech offers a more convenient way to access iris recognition functions, including enrollment, identification, verification, and de-duplication through a web service interface that can be easily integrated into any enterprise application.
  • In February 2022, IriTech, Inc. entered a co-promotion agreement with Egis Technology Inc. (Egistec), a leading global provider of fingerprint sensors. The co-promotion with Egistec, which is already providing fingerprint solutions to top-tier smartphone manufacturers, is expected to create more opportunities for IriTech and Egistec in consumer technology while focusing on the mobile industry.
  • In February 2021, EyeLock LLC entered into an agreement with Iris Scanners Technologies Pvt. Ltd. ("IrisScanners") of India. This new partnership leverages IrisScanners' extensive distribution network in India for biometric access control solutions. It also strategically targets emerging technology-based companies that strongly desire to add user-friendly, touchless, and cost-effective iris biometric products to their systems.
  • In September 2021, BNCTL (Banco Nacional de Comércio de Timor-Leste) signed an agreement with IrisGuard and EyeTrust LDA to deploy IrisGuard's EyePay® Network payment platform, powered by their award-winning iris recognition technology. It is the youngest sovereign nation in Southeast Asia. This authentication and payment authorization platform, featuring the recently launched EyePay® Phone, will be utilized to verify and secure the last mile of financial transactions in counters/branches and ATMs.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 29)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           FIGURE 1 IRIS RECOGNITION MARKET SEGMENTATION
           1.3.1 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 34)
    2.1 RESEARCH DATA
           FIGURE 2 IRIS RECOGNITION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primaries
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Methodology to arrive at market size using bottom-up approach
                               FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 BOTTOM-UP (SUPPLY SIDE)— REVENUE GENERATED BY COMPANIES IN IRIS RECOGNITION MARKET
                               FIGURE 4 IRIS RECOGNITION MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Methodology to arrive at market size using top-down approach
                               FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION FOR ONE COMPANY IN IRIS RECOGNITION MARKET
           FIGURE 6 IRIS RECOGNITION MARKET: TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION
           FIGURE 7 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 RESEARCH LIMITATIONS
    2.6 RISK ASSESSMENT

3 EXECUTIVE SUMMARY (Page No. - 45)
    FIGURE 8 SOFTWARE TO HOLD LARGER SHARE OF IRIS RECOGNITION MARKET THROUGHOUT FORECAST PERIOD
    FIGURE 9 SCANNERS TO HOLD LARGEST SHARE OF MARKET IN 2027
    FIGURE 10 IDENTITY MANAGEMENT AND ACCESS CONTROL APPLICATION TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN 2027
    FIGURE 11 MARKET FOR HEALTHCARE VERTICAL TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 12 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2021

4 PREMIUM INSIGHTS (Page No. - 50)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN IRIS RECOGNITION MARKET
           FIGURE 13 INCREASING ADOPTION OF IRIS RECOGNITION TECHNOLOGY IN ASIA PACIFIC TO DRIVE MARKET GROWTH
    4.2 IRIS RECOGNITION MARKET, BY COMPONENT
           FIGURE 14 SOFTWARE TO HOLD LARGER MARKET SHARE IN 2022
    4.3 IRIS RECOGNITION MARKET, BY APPLICATION
           FIGURE 15 IDENTITY MANAGEMENT AND ACCESS CONTROL APPLICATION TO CAPTURE LARGEST SHARE OF MARKET DURING FORECAST PERIOD
    4.4 IRIS RECOGNITION MARKET IN ASIA PACIFIC, BY VERTICAL AND COUNTRY
           FIGURE 16 CHINA AND CONSUMER ELECTRONICS TO BE LARGEST SHAREHOLDERS IN IRIS RECOGNITION MARKET IN ASIA PACIFIC, BY COUNTRY AND VERTICAL, RESPECTIVELY, IN 2021
    4.5 IRIS RECOGNITION MARKET, BY VERTICAL
           FIGURE 17 BANKING & FINANCE VERTICAL TO HOLD LARGEST MARKET SHARE IN IRIS RECOGNITION MARKET IN 2022
    4.6 IRIS RECOGNITION MARKET, BY COUNTRY
           FIGURE 18 INDIA TO HOLD LARGEST SHARE OF GLOBAL IRIS RECOGNITION MARKET IN 2022

5 MARKET OVERVIEW (Page No. - 53)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 19 IRIS RECOGNITION MARKET : DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    FIGURE 20 MARKET: DRIVERS AND THEIR IMPACT
                    5.2.1.1 Rising adoption of iris recognition technology by government organizations for identification and authentication purposes
                    5.2.1.2 Increasing penetration of iris recognition technology into consumer electronics industry
                               FIGURE 21 GLOBAL SMARTPHONE SHIPMENTS, 2019–2021 (BILLION UNITS)
                    5.2.1.3 Rising use of iris recognition technology in travel and immigration industry
           5.2.2 RESTRAINTS
                    FIGURE 22 IRIS RECOGNITION MARKET: RESTRAINTS AND THEIR IMPACT
                    5.2.2.1 Risk of privacy breach and identity theft
                    5.2.2.2 Presence of different competitive biometric technologies
                               TABLE 1 COMPARISON BETWEEN VARIOUS BIOMETRIC TECHNOLOGIES
           5.2.3 OPPORTUNITIES
                    FIGURE 23 IRIS RECOGNITION MARKET: OPPORTUNITIES AND THEIR IMPACT
                    5.2.3.1 Growing demand for iris recognition technology from healthcare industry
                    5.2.3.2 Rising penetration of biometric technologies into automotive and aerospace & defense verticals
                    5.2.3.3 Increasing use of iris recognition systems in banking & finance sector to prevent fraud
                    5.2.3.4 Integration of cloud computing with iris recognition technology
           5.2.4 CHALLENGES
                    FIGURE 24 IRIS RECOGNITION MARKET : CHALLENGES AND THEIR IMPACT
                    5.2.4.1 Complexities in integrating iris recognition technology into conventional identification solutions
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 25 IRIS RECOGNITION MARKET: VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM ANALYSIS
           FIGURE 26 IRIS RECOGNITION MARKET : ECOSYSTEM ANALYSIS
           TABLE 2 COMPANIES AND THEIR ROLES IN IRIS RECOGNITION ECOSYSTEM
    5.5 PRICING ANALYSIS
           5.5.1 AVERAGE SELLING PRICE (ASP) OF VARIOUS IRIS RECOGNITION TECHNOLOGIES
                    TABLE 3 AVERAGE SELLING PRICE OF VARIOUS IRIS RECOGNITION HARDWARE COMPONENTS
                    FIGURE 27 AVERAGE SELLING PRICE OF IRIS SCANNERS OFFERED BY THREE KEY PLAYERS
                    TABLE 4 AVERAGE SELLING PRICE OF IRIS SCANNERS OFFERED BY THREE KEY PLAYERS (USD)
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR IRIS RECOGNITION TECHNOLOGY PROVIDERS
                    FIGURE 28 REVENUE SHIFT FOR IRIS RECOGNITION MARKET PLAYERS
    5.7 TECHNOLOGY ANALYSIS
           5.7.1 KEY TECHNOLOGY TRENDS
           5.7.2 CLOUD-BASED IRIS RECOGNITION SYSTEM
           5.7.3 3D IRIS RECOGNITION
           5.7.4 COMPLEMENTARY TECHNOLOGIES
                    5.7.4.1 Payment with iris recognition
           5.7.5 ADJACENT TECHNOLOGIES
                    5.7.5.1 Integration of computer vision in iris recognition systems
    5.8 PORTER’S FIVE FORCES ANALYSIS
           TABLE 5 IRIS RECOGNITION MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 29 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.8.1 INTENSITY OF COMPETITIVE RIVALRY
           5.8.2 BARGAINING POWER OF SUPPLIERS
           5.8.3 BARGAINING POWER OF BUYERS
           5.8.4 THREAT OF SUBSTITUTES
           5.8.5 THREAT OF NEW ENTRANTS
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 30 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USER INDUSTRIES
                    TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USER INDUSTRIES (%)
           5.9.2 BUYING CRITERIA
                    FIGURE 31 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
                    TABLE 7 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
    5.10 CASE STUDY ANALYSIS
           TABLE 8 USE OF BIOMETRICS FOR FOOD DISTRIBUTION
           TABLE 9 USE OF IRIS RECOGNITION FOR AUTO MALL SECURITY
           TABLE 10 USE OF IRIS RECOGNITION FOR VERIFICATION OF UNIQUE IDENTIFICATION NUMBERS (UID) ISSUED TO ALL INDIAN CITIZENS
           TABLE 11 USE OF MULTI-BIOMETRIC ENROLLMENT SYSTEM BY MEXICO TAX AGENCY
    5.11 TRADE AND TARIFF ANALYSIS
           5.11.1 TRADE ANALYSIS
                    5.11.1.1 Trade data for HS code 847160
                                FIGURE 32 IMPORT DATA, BY COUNTRY, 2017−2021 (USD MILLION)
                                FIGURE 33 EXPORT DATA, BY COUNTRY, 2017−2021 (USD MILLION)
    5.12 PATENT ANALYSIS
           FIGURE 34 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           TABLE 12 TOP 20 PATENT OWNERS IN LAST 10 YEARS
           FIGURE 35 NUMBER OF PATENTS GRANTED, 2011−2022
           5.12.1 PATENT ANALYSIS
                    TABLE 13 MAJOR PATENTS RELATED TO IRIS RECOGNITION MARKET
    5.13 KEY CONFERENCES AND EVENTS, 2022–2023
           TABLE 14 IRIS RECOGNITION MARKET: DETAILED LIST OF KEY CONFERENCES AND EVENTS
    5.14 REGULATORY LANDSCAPE
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS RELATED TO IRIS RECOGNITION MARKET
                    TABLE 15 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 17 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 18 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 STANDARDS AND REGULATIONS RELATED TO IRIS RECOGNITION MARKET
                    TABLE 19 NORTH AMERICA: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET
                    TABLE 20 EUROPE: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET
                    TABLE 21 ASIA PACIFIC: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET
                    TABLE 22 ROW: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET

6 IRIS RECOGNITION MARKET, BY COMPONENT (Page No. - 85)
    6.1 INTRODUCTION
           FIGURE 36 IRIS RECOGNITION MARKET, BY COMPONENT
           FIGURE 37 SOFTWARE SEGMENT TO CONTINUE TO HOLD LARGER SHARE OF IRIS RECOGNITION MARKET DURING FORECAST PERIOD
           TABLE 23  MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
           TABLE 24 MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
    6.2 HARDWARE
           TABLE 25 HARDWARE: IRIS RECOGNITION MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
           TABLE 26 HARDWARE: MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
           TABLE 27 HARDWARE: MARKET, BY HARDWARE TYPE, 2018–2021 (USD MILLION)
           TABLE 28 HARDWARE: IRIS RECOGNITION MARKET, BY HARDWARE TYPE, 2022–2027 (USD MILLION)
           TABLE 29 HARDWARE: MARKET, BY REGION, 2018–2021 (USD MILLION)
           TABLE 30 HARDWARE: MARKET, BY REGION, 2022–2027 (USD MILLION)
           6.2.1 CAMERAS
                    6.2.1.1 Rising demand for identity management and access control
           6.2.2 SENSORS
                    6.2.2.1 Growing development of new technology-based sensors for biometric applications in consumer electronics devices
           6.2.3 IMAGE PROCESSORS
                    6.2.3.1 Surging demand in high-volume server applications that run on server hardware
           6.2.4 INTEGRATED DEVICES
                    6.2.4.1 Increasing demand for Wi-Fi-enabled iris devices for various applications
    6.3 SOFTWARE
           TABLE 31 SOFTWARE: IRIS RECOGNITION MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
           TABLE 32 SOFTWARE: MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
           TABLE 33 SOFTWARE: MARKET, BY SOFTWARE TYPE, 2018–2021 (USD MILLION)
           TABLE 34 SOFTWARE: MARKET, BY SOFTWARE TYPE, 2022–2027 (USD MILLION)
           TABLE 35 SOFTWARE: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
           TABLE 36 SOFTWARE: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
           6.3.1 IRIS RECOGNITION SOFTWARE & SDK
                    6.3.1.1 Prominent presence of various major players
           6.3.2 DATABASE
                    6.3.2.1 Surging demand for databases in various verticals
           6.3.3 ANALYTICS SOLUTION
                    6.3.3.1 Growing deployment of combinations of business analytics software
           6.3.4 OTHERS

7 IRIS RECOGNITION MARKET, BY PRODUCT (Page No. - 95)
    7.1 INTRODUCTION
           FIGURE 38 IRIS RECOGNITION MARKET, BY PRODUCT
           FIGURE 39 SCANNERS TO CONTINUE TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET DURING FORECAST PERIOD
           TABLE 37 MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
           TABLE 38 MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
    7.2 SMARTPHONES
           7.2.1 RISING PENETRATION OF BIOMETRIC TECHNOLOGIES IN SMARTPHONES TO BOOST MARKET
                    TABLE 39 SMARTPHONES: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                    TABLE 40 SMARTPHONES: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
                    TABLE 41 SMARTPHONES: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 42 SMARTPHONES: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 WEARABLES
           7.3.1 INCREASING USE OF IRIS RECOGNITION IN SMARTWATCHES TO DRIVE MARKET
                    TABLE 43 WEARABLES: IRIS RECOGNITION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                    TABLE 44 WEARABLES: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
                    TABLE 45 WEARABLES: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 46 WEARABLES: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 TABLETS & NOTEBOOKS
           7.4.1 DEVELOPMENTS OF TABLETS WITH IRIS SCANNER TO POSITIVELY IMPACT MARKET FOR TABLETS & NOTEBOOKS
                    TABLE 47 TABLETS & NOTEBOOKS: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                    TABLE 48 TABLETS & NOTEBOOKS: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
                    TABLE 49 TABLETS & NOTEBOOKS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 50 TABLETS & NOTEBOOKS: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 PERSONAL COMPUTERS/LAPTOPS
           7.5.1 SURGING ADOPTION OF IDENTITY MANAGEMENT SOLUTIONS BY GOVERNMENT AND TRAVEL AGENCIES TO PROPEL MARKET GROWTH
                    TABLE 51 PERSONAL COMPUTERS/LAPTOPS: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                    TABLE 52 PERSONAL COMPUTERS/LAPTOPS: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
                    TABLE 53 PERSONAL COMPUTERS/LAPTOPS: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 54 PERSONAL COMPUTERS/LAPTOPS: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.6 SCANNERS
           7.6.1 INCREASING DEMAND FOR IRIS RECOGNITION SCANNERS IN GOVERNMENT VERTICAL TO DRIVE MARKET
                    TABLE 55 SCANNERS: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                    TABLE 56 SCANNERS: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
                    TABLE 57 SCANNERS: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 58 SCANNERS: MARKET, BY REGION, 2022–2027 (USD MILLION)

8 IRIS RECOGNITION MARKET, BY APPLICATION (Page No. - 106)
    8.1 INTRODUCTION
           FIGURE 40 IRIS RECOGNITION MARKET, BY APPLICATION
           FIGURE 41 IDENTITY MANAGEMENT AND ACCESS CONTROL APPLICATIONS TO CONTINUE TO DOMINATE IRIS RECOGNITION MARKET, IN TERMS OF SIZE, DURING FORECAST PERIOD
           TABLE 59 MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
           TABLE 60 MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    8.2 IDENTITY MANAGEMENT AND ACCESS CONTROL
           TABLE 61 IDENTITY MANAGEMENT AND ACCESS CONTROL: IRIS RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
           TABLE 62 IDENTITY MANAGEMENT AND ACCESS CONTROL: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
           TABLE 63 IDENTITY MANAGEMENT AND ACCESS CONTROL: MARKET, BY REGION, 2018–2021 (USD MILLION)
           TABLE 64 IDENTITY MANAGEMENT AND ACCESS CONTROL: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 TIME MONITORING
           8.3.1 INTEGRATION OF IRIS RECOGNITION TECHNOLOGY INTO TIME AND ATTENDANCE MANAGEMENT SYSTEMS TO SUPPORT MARKET GROWTH
                    TABLE 65 TIME MONITORING APPLICATION:  MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
                    TABLE 66 TIME MONITORING: IRIS RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
                    TABLE 67 TIME MONITORING: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 68 TIME MONITORING:  MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.4 E-PAYMENT
           8.4.1 RISING CONSUMER PREFERENCE FOR CASHLESS PAYMENTS TO DRIVE MARKET
                    TABLE 69 E-PAYMENT: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
                    TABLE 70 E-PAYMENT: IRIS RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
                    TABLE 71 E-PAYMENT: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 72 E-PAYMENT: MARKET, BY REGION, 2022–2027 (USD MILLION)

9 IRIS RECOGNITION MARKET, BY VERTICAL (Page No. - 115)
    9.1 INTRODUCTION
           FIGURE 42 IRIS RECOGNITION MARKET, BY VERTICAL
           FIGURE 43 HEALTHCARE VERTICAL TO EXHIBIT HIGHEST CAGR IN IRIS RECOGNITION MARKET DURING FORECAST PERIOD
           TABLE 73 MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
           TABLE 74 MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
    9.2 GOVERNMENT
           9.2.1 INCREASING GOVERNMENT INITIATIVES FOR PUBLIC SAFETY TO BOOST DEMAND FOR BIOMETRICS SOLUTIONS
                    FIGURE 44 NORTH AMERICA TO HOLD LARGEST SHARE OF MARKET FOR GOVERNMENT VERTICAL THROUGHOUT FORECAST PERIOD
                    TABLE 75 GOVERNMENT: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 76 GOVERNMENT: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 77 GOVERNMENT: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 78 GOVERNMENT: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.3 MILITARY & DEFENSE
           9.3.1 CONCERNS REGARDING NATIONAL SECURITY, SECURITY OF ARMED FORCES, AND MONITORING OF INDIVIDUALS TO FUEL DEMAND FOR IRIS RECOGNITION TECHNOLOGY
                    FIGURE 45 MILITARY & DEFENSE VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 79 MILITARY & DEFENSE: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 80 MILITARY & DEFENSE: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 81 MILITARY & DEFENSE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 82 MILITARY & DEFENSE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.4 HEALTHCARE
           9.4.1 RISING ADOPTION OF BIOMETRICS IN PATIENT IDENTIFICATION, PATIENT SECURITY, AND STAFF ATTENDANCE TRACKING APPLICATIONS TO PUSH MARKET GROWTH
                    FIGURE 46 HEALTHCARE VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 83 HEALTHCARE: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 84 HEALTHCARE: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 85 HEALTHCARE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 86 HEALTHCARE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.5 BANKING & FINANCE
           9.5.1 UTILIZATION OF IRIS RECOGNITION SYSTEMS TO ADDRESS SECURITY CHALLENGES TO FOSTER MARKET GROWTH
                    FIGURE 47 BANKING & FINANCE VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 87 BANKING & FINANCE: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 88 BANKING & FINANCE: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 89 BANKING & FINANCE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 90 BANKING & FINANCE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.6 CONSUMER ELECTRONICS
           9.6.1 INCREASING DEPLOYMENT OF IRIS RECOGNITION TECHNOLOGY IN LAPTOPS TO ACCELERATE MARKET GROWTH
                    FIGURE 48 CONSUMER ELECTRONICS VERTICAL IN ASIA PACIFIC TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 91 CONSUMER ELECTRONICS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 92 CONSUMER ELECTRONICS: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 93 CONSUMER ELECTRONICS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 94 CONSUMER ELECTRONICS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.7 TRAVEL & IMMIGRATION
           9.7.1 INCREASING PENETRATION OF E-PASSPORT PROGRAMS WORLDWIDE TO WIDEN SCOPE OF IRIS RECOGNITION TECHNOLOGY
                    FIGURE 49 TRAVEL AND IMMIGRATION VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 95 TRAVEL AND IMMIGRATION: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 96 TRAVEL AND IMMIGRATION: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 97 TRAVEL AND IMMIGRATION: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 98 TRAVEL AND IMMIGRATION: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.8 AUTOMOTIVE
           9.8.1 EUROPE TO CONTINUE TO HOLD LARGEST SIZE OF IRIS RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL DURING FORECAST PERIOD
                    FIGURE 50 AUTOMOTIVE VERTICAL IN EUROPE TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
                    TABLE 99 AUTOMOTIVE: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 100 AUTOMOTIVE: MARKET, BY REGION, 2022–2027 (USD MILLION)
                    TABLE 101 AUTOMOTIVE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 102 AUTOMOTIVE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.9 OTHERS
           FIGURE 51 OTHER VERTICALS IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 103 OTHERS: MARKET, BY REGION, 2018–2021 (USD MILLION)
           TABLE 104 OTHERS: MARKET, BY REGION, 2022–2027 (USD MILLION)
           TABLE 105 OTHERS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
           TABLE 106 OTHERS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)

10 GEOGRAPHIC ANALYSIS (Page No. - 137)
     10.1 INTRODUCTION
             FIGURE 52 IRIS RECOGNITION MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
             FIGURE 53 MARKET, BY REGION
             TABLE 107 MARKET, BY REGION, 2018–2021 (USD MILLION)
             TABLE 108 MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.2 NORTH AMERICA
             FIGURE 54 NORTH AMERICA: IRIS RECOGNITION MARKET SNAPSHOT
             FIGURE 55 US TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN NORTH AMERICA IN 2027
             TABLE 109 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 110 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 111 NORTH AMERICA: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
             TABLE 112 NORTH AMERICA: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
             TABLE 113 NORTH AMERICA: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
             TABLE 114 NORTH AMERICA:  MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
             10.2.1 US
                        10.2.1.1 Increasing concerns regarding national security, crime, and terrorism to augment demand for iris recognition
             10.2.2 CANADA
                        10.2.2.1 Rising demand for iris recognition systems in government, and travel and immigration verticals to drive market
             10.2.3 MEXICO
                        10.2.3.1 Growing need for safety and security in various verticals to boost market growth
     10.3 EUROPE
             FIGURE 56 EUROPE: IRIS RECOGNITION MARKET SNAPSHOT
             FIGURE 57 GERMANY TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN EUROPE IN 2027
             TABLE 115 EUROPE: IRIS RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 116 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 117 EUROPE: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
             TABLE 118 EUROPE: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
             TABLE 119 EUROPE: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
             TABLE 120 EUROPE: MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
             10.3.1 GERMANY
                        10.3.1.1 Increasing adoption of biometric technology by government and travel and immigration
             10.3.2 ITALY
                        10.3.2.1 Rapid deployment of iris recognition by government vertical
             10.3.3 FRANCE
                        10.3.3.1 Rising inter-country political disputes to boost demand
             10.3.4 UK
                        10.3.4.1 Growing initiatives by government such as Iris Recognition Immigration System
             10.3.5 REST OF EUROPE
     10.4 ASIA PACIFIC
             FIGURE 58 ASIA PACIFIC: IRIS RECOGNITION MARKET SNAPSHOT
             FIGURE 59 CHINA TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN ASIA PACIFIC IN 2027
             TABLE 121 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 122 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 123 ASIA PACIFIC: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
             TABLE 124 ASIA PACIFIC: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
             TABLE 125 ASIA PACIFIC: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
             TABLE 126 ASIA PACIFIC: MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
             10.4.1 CHINA
                        10.4.1.1 Presence of manufacturing plants of several leading providers of consumer electronics to drive market
             10.4.2 SOUTH KOREA
                        10.4.2.1 Thriving consumer electronics industry to propel market growth
             10.4.3 JAPAN
                        10.4.3.1 Increasing security concerns to drive market growth
             10.4.4 INDIA
                        10.4.4.1 Growing focus of government to provide advanced and upgraded services to citizens to accelerate market growth
             10.4.5 REST OF ASIA PACIFIC
     10.5 ROW
             FIGURE 60 ROW: IRIS RECOGNITION MARKET SNAPSHOT
             FIGURE 61 MIDDLE EAST TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN ROW IN 2027
             TABLE 127 ROW: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
             TABLE 128 ROW: MARKET, BY REGION, 2022–2027 (USD MILLION)
             TABLE 129 ROW: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
             TABLE 130 ROW: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
             TABLE 131 ROW: MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
             TABLE 132 ROW: MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
             10.5.1 MIDDLE EAST & AFRICA
                        10.5.1.1 Increasing government support to automate border-crossing processes
             10.5.2 AFRICA
                        10.5.2.1 Growing investments in automation and AI technologies
             10.5.3 SOUTH AMERICA
                        10.5.3.1 Rising security spending, cybercrimes, and face & iris recognition adoption in airports

11 COMPETITIVE LANDSCAPE (Page No. - 162)
     11.1 INTRODUCTION
     11.2 STRATEGIES ADOPTED BY KEY PLAYERS/RIGHT TO WIN
             TABLE 133 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN IRIS RECOGNITION MARKET
             11.2.1 PRODUCT PORTFOLIO
             11.2.2 REGIONAL FOCUS
             11.2.3 ORGANIC/INORGANIC GROWTH STRATEGIES
     11.3 MARKET SHARE ANALYSIS, 2021
             TABLE 134 IRIS RECOGNITION MARKET: DEGREE OF COMPETITION
     11.4 REVENUE ANALYSIS OF TOP PLAYERS IN IRIS RECOGNITION MARKET
             FIGURE 62 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN IRIS RECOGNITION MARKET
     11.5 COMPANY EVALUATION QUADRANT
             11.5.1 STARS
             11.5.2 PERVASIVE PLAYERS
             11.5.3 EMERGING LEADERS
             11.5.4 PARTICIPANTS
                        FIGURE 63 IRIS RECOGNITION MARKET: COMPANY EVALUATION QUADRANT, 2021
     11.6 STARTUP/SME EVALUATION QUADRANT
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 RESPONSIVE COMPANIES
             11.6.3 DYNAMIC COMPANIES
             11.6.4 STARTING BLOCKS
                        FIGURE 64 IRIS RECOGNITION MARKET (GLOBAL): STARTUP/SME EVALUATION QUADRANT, 2021
     11.7 COMPANY FOOTPRINT
             TABLE 135 COMPANY FOOTPRINT
             TABLE 136 COMPONENT FOOTPRINT OF COMPANIES
             TABLE 137 APPLICATION FOOTPRINT OF COMPANIES
             TABLE 138 PRODUCT FOOTPRINT OF COMPANIES
             TABLE 139 VERTICAL FOOTPRINT OF COMPANIES
             TABLE 140 REGIONAL FOOTPRINT OF COMPANIES
     11.8 COMPETITIVE BENCHMARKING
             TABLE 141 IRIS RECOGNITION MARKET: DETAILED LIST OF KEY STARTUPS/SMES
             TABLE 142 IRIS RECOGNITION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     11.9 COMPETITIVE SCENARIOS AND TRENDS
             11.9.1 PRODUCT LAUNCHES
                        TABLE 143 MARKET: PRODUCT LAUNCHES, JANUARY 2018–MAY 2022
             11.9.2 DEALS
                        TABLE 144 MARKET: DEALS, JANUARY 2018–MAY 2022

12 COMPANY PROFILES (Page No. - 179)
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 
     12.1 KEY PLAYERS
             12.1.1 THALES
                        TABLE 145 THALES: COMPANY OVERVIEW
                        FIGURE 65 THALES: COMPANY SNAPSHOT
             12.1.2 IDEMIA
                        TABLE 146 IDEMIA: BUSINESS OVERVIEW
                        FIGURE 66 IDEMIA: COMPANY SNAPSHOT
             12.1.3 HID GLOBAL CORPORATION
                        TABLE 147 HID GLOBAL CORPORATION: BUSINESS OVERVIEW
             12.1.4 EYELOCK LLC
                        TABLE 148 EYELOCK LLC: BUSINESS OVERVIEW
             12.1.5 NEC CORPORATION
                        TABLE 149 NEC CORPORATION: BUSINESS OVERVIEW
                        FIGURE 67 NEC CORPORATION: COMPANY SNAPSHOT
             12.1.6 IRITECH, INC.
                        TABLE 150 IRITECH, INC.: BUSINESS OVERVIEW
             12.1.7 IRISGUARD LTD.
                        TABLE 151 IRISGUARD LTD: BUSINESS OVERVIEW
             12.1.8 IRIS ID, INC.
                        TABLE 152 IRIS ID, INC.: BUSINESS OVERVIEW
             12.1.9 PRINCETON IDENTITY
                        TABLE 153 PRINCETON IDENTITY: BUSINESS OVERVIEW
                        TABLE 154 PRINCETON IDENTITY: PRODUCT LAUNCHES
             12.1.10 CMI TECH
                        TABLE 155 CMI TECH: BUSINESS OVERVIEW
             12.1.11 UNISYS CORPORATION
                        TABLE 156 UNISYS CORPORATION: BUSINESS OVERVIEW
                        TABLE 157 UNISYS CORPORATION: PRODUCT LAUNCHES
     12.2 OTHER PLAYERS
             12.2.1 BIOENABLE TECHNOLOGIES
             12.2.2 4G IDENTITY SOLUTIONS
             12.2.3 BI² TECHNOLOGIES
             12.2.4 MANTRA SOFTECH
             12.2.5 AWARE, INC.
             12.2.6 NEUROTECHNOLOGY
             12.2.7 DERMALOG IDENTIFICATION SYSTEMS
             12.2.8 BIOID
             12.2.9 SRI INTERNATIONAL
             12.2.10 M2SYS TECHNOLOGY
             12.2.11 TASCENT
             12.2.12 ADITECH LTD
             12.2.13 BIOLINK SOLUTIONS
             12.2.14 SHANGHAI PIXSUR SMART TECHNOLOGY CO., LTD.
             12.2.15 ANVIZ GLOBAL INC.
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies. 

13 APPENDIX (Page No. - 224)
     13.1 INSIGHTS OF INDUSTRY EXPERTS
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.4 CUSTOMIZATION OPTIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

The research process for this study included systematic gathering, recording, and analysis of data about customers and companies operating in the iris recognition market. This process involved the extensive use of secondary sources, directories, and databases (Factiva, Oanda, and OneSource) for identifying and collecting valuable information for the comprehensive, technical, market-oriented, and commercial study of the iris recognition market. In-depth interviews were conducted with primary respondents, including experts from core and related industries and preferred manufacturers, to obtain and verify critical qualitative and quantitative information as well as to assess growth prospects. Key players in the iris recognition market were identified through secondary research, and their market rankings were determined through primary and secondary research. This research included studying annual reports of top players and interviewing key industry experts such as CEOs, directors, and marketing executives.

Secondary Research

In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. Secondary sources included corporate filings, such as annual reports, investor presentations, and financial statements; trade, business, and professional associations; white papers, iris recognition products related journals, and certified publications; articles by recognized authors; directories; and databases.

Secondary research was conducted to obtain key information about the industry supply chain, market value chain, key players, market classification and segmentation as per industry trends to the bottom-most level, geographic markets, and key developments from both market- and technology-oriented perspectives. Data from secondary research was collected and analyzed to determine the overall market size, which was further validated by primary research.

Primary Research

In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology & innovation directors, and key executives from major companies in the iris recognition market.

After going through market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers obtained. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by players operating in the market.

Iris Recognition Market Size, and Share

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 were used, along with several data triangulation methods, to estimate and forecast the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out on the complete market engineering process to list the key information/insights pertaining to the iris recognition market.

The key players in the market were identified through secondary research, and their rankings in the respective regions were determined through primary and secondary research. This entire procedure involved the study of the annual and financial reports of top players, as well as interviews with industry experts such as chief executive officers, vice presidents, directors, and marketing executives for quantitative and qualitative key insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Iris recognition market: Bottom-up Approach

Iris Recognition Market Size, and Bottom-up Approach

Data triangulation

After arriving at the overall size of the iris recognition market from the market size estimation process explained above, the total market was split into several segments and subsegments. Where applicable, the market breakdown and data triangulation procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using top-down and bottom-up approaches.

Report objectives

  • To describe and forecast the iris recognition market, in terms of value, based on component, product, application, and vertical
  • To describe and forecast the iris recognition market size, in terms of value, with respect to four regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To provide detailed information about the drivers, restraints, opportunities, and challenges influencing the growth of the iris recognition market
  • To provide a detailed overview of the supply chain of the iris recognition ecosystem
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
  • To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of business strategy excellence and strength of product portfolios
  • To strategically profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies2, along with a detailed competitive landscape of the market
  • To analyze competitive developments in the iris recognition market, such as acquisitions, product launches, partnerships, expansions, and collaborations

Available customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies.

Product analysis

  • Detailed analysis and profiling of additional market players
Report Code
SE 3758
Published ON
Nov, 2022
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