Global Iris Recognition Market Overview:
The latest report by IMARC Group, titled “Iris Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global iris recognition market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global iris recognition market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2028, exhibiting a growth rate (CAGR) of 19.8% during 2023-2028.
Iris recognition uses biometric technologies to accurately identify individuals by analyzing a detailed pattern of their iris to perform mathematical analysis. Iris recognition is carried out by capturing one or more detailed images of the iris configurations through a video-based image acquisition system using infrared illumination. Since iris recognition is non-invasive, non-intrusive, and can be conducted from nearly half a meter away, it is considered as one of the most secure methods of identification and authentication.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Iris Recognition Market Trends:
The market is primarily driven by the escalating product demand in government and legal organizations for identification and authentication purposes. This can be attributed to the increasing incidences of cybercrimes, cross-border illegal activities and terrorist attacks. The rapid utilization of biometrics in consumer electronics verticals, e-visas, e-passports, and driving licenses are also providing an impetus to the market growth. Furthermore, the growing adoption of iris scanners for accessing control applications are also creating a positive market outlook. Some of the other factors contributing to the market include rapid digitization and extensive research and development (R&D) activities.
Global Iris Recognition Market 2023-2028 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the market has been analyzed in the report with detailed profiles of the key players operating in the market.
- BioEnable Technologies Pvt. Ltd.
- Iris ID Systems, Inc.
- M2SYS Technology
- Gemalto N.V.
- IRITECH, INC.
- SRI International
- HID Global Corporation
- EyeLock LLC
Our report has categorized the market based on component, product integration and end-user.
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization