Iris Recognition Market

Iris Recognition Industry Worth $8.4 billion by 2027

The report "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" 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. The market growth is attributed to the increased use of iris recognition technology in the travel & immigration industry and the high demand for iris recognition from offices and commercial sectors. Furthermore, the rising adoption of iris recognition in the banking & finance industry to avoid fraudulent activities is expected to create lucrative opportunities for the market.

Browse 157 market data Tables and 67 Figures spread through 230 Pages and in-depth TOC on "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 "
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/iris-recognition-market-141994093.html

Identity management & access control application accounted for larger share of iris recognition market in 2022.

Identity management & access control application accounted for a larger share of the iris recognition market in 2022 and is expected to remain dominant throughout the forecast period. Iris recognition solutions are used in various verticals for identity management and access control applications. For example, in the banking & finance vertical, iris recognition systems are used by customers to access their bank accounts and employees to log in to their workstations. In the travel & immigration vertical, iris recognition systems prevent illegal immigrants from entering the country using fraudulent travel documents. In many airport terminals, these biometric systems are deployed to enhance the convenience, speed, and efficiency of border-crossing formalities for legitimate travelers. Many government organizations use iris recognition technology for identification and authentication purposes.

Software component to lead iris recognition market during the forecast period.

The software component is expected to hold higher opportunities than the hardware component between 2022 and 2027. The software component has been sub-segmented into iris recognition software & SDK, database, and analytics solution, among others. At present, iris recognition software & SDK account for a larger market share than hardware components, and a similar trend is likely to continue in the near future. Furthermore, the presence of various major players who offer this software, such as Iris Access, EyeLock LLC, Neurotechnology, and others, further drives the market growth.

Asia Pacific market to offer significant opportunities during the forecast period.

Asia Pacific is the leading market for iris recognition in the consumer electronics vertical, with major demand from China, India, and Japan. The region held the largest share of the iris recognition industry in 2021. China and India are key countries contributing to the market growth in Asia Pacific. North America expected to account for the second-largest share of the iris recognition market throughout the forecast period. The US and Canada are significant demand-generating countries for iris recognition devices in this region.

Key players

Key players 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.

Don’t miss out on business opportunities in Iris Recognition Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Iris Recognition Market Size,  Share & Growth Report
Report Code
SE 3758
PR Published ON
11/18/2022
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Iris Recognition Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home