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The global iris recognition market size reached US$ 2.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2027, exhibiting a growth rate (CAGR) of 19.93% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Despite genetic similarities, irises of different individuals are structurally distinct and unique, which allows them to be used for recognition, identification and authentication purposes. Iris recognition, also known as iris scanning, is a method used for identifying individuals based on the unique pattern of their iris. The process utilizes visible and near-infrared light to capture a high-contrast image of the iris. The technology combines computer vision, pattern recognition, statistical inference and optics. This form of biometric system helps law enforcement officers to compare iris images of a suspect with an existing database. Also, several countries across the globe are implementing these systems in airports, points of entry or exit and other authoritative premises to reduce security breach incidences.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Market Trends:
IMARC Group’s latest report provides a deep insight into the global iris recognition market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global iris recognition market in any manner.
IMARC Group provides an analysis of the key trends in each sub-segment of the global iris recognition market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on component, product integration and end-user.
Breakup by Component:
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Breakup by Product Integration:
Breakup by End-User:
Breakup by Region:
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The report has also analysed the competitive landscape of the market with some of the key players being BioEnable Technologies Pvt. Ltd., eyeLock LLC, HID Global Corporation (Assa Abloy AB), Iris ID Inc, IrisGuard UK Ltd, Iritech Inc., M2SYS Technology, SRI International, Thales Group, etc.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Component, Product Integration, End-User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | BioEnable Technologies Pvt. Ltd., eyeLock LLC, HID Global Corporation (Assa Abloy AB), Iris ID Inc, IrisGuard UK Ltd, Iritech Inc., M2SYS Technology, SRI International and Thales Group |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global iris recognition market was valued at US$ 2.9 Billion in 2021.
We expect the global iris recognition market to exhibit a CAGR of 19.93% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of iris recognition systems over fingerprint sensors across several sectors for minimizing the interactions among the masses to combat the risk of the coronavirus infection during the conventional authentication process.
The rising number of crimes as well as terrorist attacks, along with the growing installation of high-tech biometric systems to improve security conditions, is primarily driving the global iris recognition market.
Based on the component, the global iris recognition market can be segmented into hardware and software. Currently, software holds the majority of the total market share.
Based on the product integration, the global iris recognition market has been divided into smartphone, tablet and notebook, scanner, PC/laptop, smartwatches, and others. Among these, scanner currently exhibits a clear dominance in the market.
Based on the end-user, the global iris recognition market can be categorized into government, transportation, healthcare, and others. Currently, government accounts for the largest market share.
On a regional level, the market has been classified into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global iris recognition market include BioEnable Technologies Pvt. Ltd., eyeLock LLC, HID Global Corporation (Assa Abloy AB), Iris ID Inc, IrisGuard UK Ltd, Iritech Inc., M2SYS Technology, SRI International, Thales Group, etc.
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