Iris Recognition Market Size, Share Trend and Forecast Till 2027

The report provides an in-depth analysis of the competitive landscape, along with company profiling of key players involved in the global Iris Recognition market drivers and restraints market. The authors of the report make sure to equip readers with a thorough evaluation of the vendor landscape and inform them of the current and future changes that can be expected. The competitive analysis offered in the report inspects the market share, gross margin, product portfolio, consumption, market status, and technologies of leading players controlling a significant portion of the global Iris Recognition market drivers and restraints market.

Extensive growth in the smartphone usage and higher requirement of effortless & quick biometric security in smartphone and tablet devices have been a substantial impulsive factor behind the growth of this market growth. Microelectronic & semiconductor equipment have been investing enormously in the research & development of various types of iris-based biometric techniques and implementing those in those devices. Additionally, increasing usage of multimodal two-step authentication system along with a higher preference of iris recognition techniques in such multimodal systems has been a major propelling factor for this market.

The global market landscape of iris recognition market is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.

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Further key findings from the report suggest

  • In June 2020, EyeLock LLC, a leading manufacturer of the iris recognition-based identity authentication solutions, revealed a global strategic partnership with CMITech Company, Ltd. of South Korea. The partnership & collaboration would help broaden the accessibility of the global iris technology market and enable EyeLock to launch new interoperable products in addition to the existing product line.
  • The smartphone & tablet sub-segment is growing with the fastest growth rate of 12.6% during the projected era with extensive implementation in the smartphone industry, owing to the incorporation of the iris scanners in the smartphones for their higher accuracy & precision in the multimodal multiple biometrics three-dimensional sensing system that drastically reduces the chances of replication or duplicity.
  • The developing regions including China, India, Vietnam, Taiwan, and South Korea in the Asia Pacific are experiencing a rapid development in the smartphone & electronic devices and growing incidences of security threats, and a huge concern for the personal authentication along with a higher economic development & government initiatives against the public security breaching in the developing countries especially, deliberately help propel the market enforcement.
  • Key players in the market BioEnable Technologies Pvt. Ltd., Iris ID Systems Inc., M2SYS Technology, Honeywell International Inc., IRITECH INC., Safran SA, EyeLock LLC, Aware Inc., Thales Group, and IrisGuard UK Ltd., among others.

For the purpose of this report, Emergen Research has segmented into the global Iris Recognition Market on the basis of Product, Industry Vertical, Application, System Type, Component, and Region:

Product Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

  • Iris Scanners
  • Smartphone & Tablets
  • Wearable Gadgets
  • Others

Industry Vertical Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

  • Consumer Electronics
  • Government & Defense
  • Banking, Financial services, and Insurance (BFSI)
  • IT & Telecommunication
  • Retail and E-commerce
  • Human Resource
  • Healthcare
  • Others

Application Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

  • Identity management and Access Control
  • Time Monitoring
  • E-Payment

Component Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

  • Hardware
  • Software

System Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

  • Unimodal Biometric Systems
  • Multimodal Biometric Systems

Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

  • North America
  1. S.
  2. Canada
  • Europe
  1. UK
  2. Germany
  3. France
  4. BENELUX
  • Asia Pacific
  1. China
  2. Japan
  3. South Korea
  4. Rest of APAC
  • Latin America
  1. Brazil
  2. Rest of LATAM
  • MEA
  1. Saudi Arabia
  2. UAE
  3. Rest of MEA

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