The global iris recognition market size was US$ 3.26 billion in 2021. The global iris recognition market size is forecast to reach US$ 15.87 billion by 2030, growing at a compound annual growth rate (CAGR) of 19.2% during the forecast period from 2022 to 2030.
Iris recognition is a popular technique for identifying persons. This system employs a mathematical pattern recognition technique on video footage of both irises, which have a complicated random pattern that is stable, distinct, and visible from a distance. Iris recognition captures photos of the complex and detail-rich structures of the iris that are visible from the outside using video recognition technology and infrared illumination. Furthermore, currently, many countries use this technique for a variety of reasons, including passport-free automated border crossings and many others.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic was opportunistic for the global market. The concentration on touchless transactions and safe identification technology was countered by widespread disruption in various industries, particularly in the commercial sector. In addition, there was a surge in demand for contactless solutions, with iris recognition replacing fingerprint sensors in access control. However, due to the lockdown imposed by various governments aimed at limiting the spread of the COVID-19 pandemic, the construction industry has seen a drop in activity.
Regional Insights
The Asia Pacific region is forecast to have lucrative growth in the iris recognition market during the forecast period. The Asia Pacific region is the most attractive industry destination for iris recognition products and solution providers owing to the rising consumer electronics industry, especially the smartphone market in the region. South Korea is a hub of smartphone and tablet manufacturers. In addition, this county in the region is adopting the iris recognition technology to surge in the safety and security features of their latest devices, have their manufacturing facilities located in this region. This factor is fueling the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global iris recognition market are:
Scope of the Report
The global iris recognition market segmentation focuses on Component, Product, Application, Industry Vertical, and Region.
Segmentation based on Component
Segmentation based on Product
Segmentation based on Application
Segmentation based on Industry Vertical
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL IRIS RECOGNITION MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL IRIS RECOGNITION MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL IRIS RECOGNITION MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
6 GLOBAL IRIS RECOGNITION MARKET, BY PRODUCT
6.1 OVERVIEW
6.2 SMARTPHONES
6.3 WEARABLES
6.4 TABLETS & NOTEBOOKS
6.5 PCS/ LAPTOPS
6.6 SCANNERS
7 GLOBAL IRIS RECOGNITION MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 IDENTITY MANAGEMENT AND ACCESS CONTROL
7.3 TIME MONITORING
7.4 E-PAYMENT
8 GLOBAL IRIS RECOGNITION MARKET, BY INDUSTRY VERTICAL
8.1 OVERVIEW
8.2 GOVERNMENT
8.3 MILITARY & DEFENSE
8.4 HEALTHCARE
8.5 BANKING & FINANCE
8.6 CONSUMER ELECTRONICS
8.7 TRAVEL & IMMIGRATION
8.8 AUTOMOTIVE
8.9 OTHERS
9 GLOBAL IRIS RECOGNITION MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3. 1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL IRIS RECOGNITION MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
11 COMPANY PROFILES
11.1 THALES GROUP
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.2 DERMALOG IDENTIFICATION SYSTEMS GMBH
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.3 M2SYS TECHNOLOGY
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.4 HID GLOBAL
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.5 IRIS S.A.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.6 IRIS ID SYSTEMS INCORPORATED
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.7 IDEMIA
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.8. TECH5
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.9 BIOENABLE TECHNOLOGIES PVT LIMITED
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.10 NEC CORPORATION
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.11 EYELOCK LLC
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.12 IRISGUARD LIMITED
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.13 PRINCETON IDENTITY
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
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