Iris Recognition Market Revenue Size, Trends and Factors, Regional Share Analysis & Forecast Till 20
- sareena shaikh
- Sep 27, 2022
- 4 min read
The Global Iris Recognition Market is forecasted to be worth USD 5.88 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of iris recognition system (IRS) in government identity systems and smartphones & other IoT devices owing to its more accurate personal identification, reduced risks of security breaches, and huge overall growth of the IoT device industry.
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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The major companies Covered in the report are:
BioEnable Technologies Pvt. Ltd., Iris ID Systems Inc., M2SYS Technology, Honeywell International Inc., IRITECH INC., Safran SA, EyeLock LLC, Aware Inc., Thales Group, IrisGuard UK Ltd.
Highlights of Global Iris Recognition Market Report
Examines the Iris Recognition industry prospects and quickly compares historical, current, and projected market figures.
This report examines growth constraints, market drivers and challenges, and current and prospective development prospects.
Key market participants are evaluated based on various factors, including revenue share, price, regional growth, and product portfolio, to demonstrate how market shares have changed in the past and are expected to change in the future.
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Segments Covered in this report are:
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
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The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
Geographical Scenario:
The global Iris Recognition market has been categorized into several important geographical regions. In this section, authors of the report have studied the presence of the global Iris Recognition market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
key strategies, financial positions, and recent developments of the leading companies.
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