Iris Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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.
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.
Market Trends:
Over the past few years, there has been a rise in the number of crimes and the threat of terrorist attacks across the globe. These incidences have prompted government facilities to install high-tech biometric systems to improve security conditions and preventing fraudulent activities. This remains one of the primary factors that are driving the growth of the market.
Manufacturers are developing iris recognition technology so that it can be integrated with various devices such as smartphones, banking systems and ATMs. These innovations are attracting investors who are interested in conducting large-scale R&D for applying these designs in real-life applications which, in turn, is influencing the market growth positively.
Healthcare providers are making efforts to use iris-recognition for addressing patient identity challenges. The combination of iris biometric technology and healthcare-focused PTOYNet blockchain network will help in delivering improved administrative, financial and clinical efficiencies.
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.
Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on component, product integration and end-user.
Breakup by Component:
Hardware
Software
Breakup by Product Integration:
Smartphone
Tablet and Notebook
Scanner
PC/Laptop
Smartwatches
Others
Breakup by End-User:
Government
Transportation
Healthcare
Others
Breakup by Region:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Competitive Landscape:
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.
Key Questions Answered in This Report
1. What was the size of the global iris recognition market in 2022?
2. What is the expected growth rate of the global iris recognition market during 2023-2028?
3. What has been the impact of COVID-19 on the global iris recognition market?
4. What are the key factors driving the global iris recognition market?
5. What is the breakup of the global iris recognition market based on the component?
6. What is the breakup of the global iris recognition market based on the product integration?
7. What is the breakup of the global iris recognition market based on end-user?
8. What are the key regions in the global iris recognition market?
9. Who are the key players/companies in the global iris recognition market?
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.
Market Trends:
Over the past few years, there has been a rise in the number of crimes and the threat of terrorist attacks across the globe. These incidences have prompted government facilities to install high-tech biometric systems to improve security conditions and preventing fraudulent activities. This remains one of the primary factors that are driving the growth of the market.
Manufacturers are developing iris recognition technology so that it can be integrated with various devices such as smartphones, banking systems and ATMs. These innovations are attracting investors who are interested in conducting large-scale R&D for applying these designs in real-life applications which, in turn, is influencing the market growth positively.
Healthcare providers are making efforts to use iris-recognition for addressing patient identity challenges. The combination of iris biometric technology and healthcare-focused PTOYNet blockchain network will help in delivering improved administrative, financial and clinical efficiencies.
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.
Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on component, product integration and end-user.
Breakup by Component:
Hardware
Software
Breakup by Product Integration:
Smartphone
Tablet and Notebook
Scanner
PC/Laptop
Smartwatches
Others
Breakup by End-User:
Government
Transportation
Healthcare
Others
Breakup by Region:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Competitive Landscape:
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.
Key Questions Answered in This Report
1. What was the size of the global iris recognition market in 2022?
2. What is the expected growth rate of the global iris recognition market during 2023-2028?
3. What has been the impact of COVID-19 on the global iris recognition market?
4. What are the key factors driving the global iris recognition market?
5. What is the breakup of the global iris recognition market based on the component?
6. What is the breakup of the global iris recognition market based on the product integration?
7. What is the breakup of the global iris recognition market based on end-user?
8. What are the key regions in the global iris recognition market?
9. Who are the key players/companies in the global iris recognition market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL IRIS RECOGNITION MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Component
5.5 Market Breakup by Product Integration
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
6 MARKET BREAKUP BY COMPONENT
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY PRODUCT INTEGRATION
7.1 Smartphone
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Tablet and Notebook
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Scanner
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 PC/Laptop
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Smartwatches
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 MARKET BREAKUP BY END-USER
8.1 Government
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Transportation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Healthcare
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 MARKET BREAKUP BY REGION
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT ANALYSIS
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 VALUE CHAIN ANALYSIS
12 PORTERS FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BioEnable Technologies Pvt. Ltd.
14.3.2 eyeLock LLC
14.3.3 HID Global Corporation (Assa Abloy AB)
14.3.4 Iris ID Inc
14.3.5 IrisGuard UK Ltd
14.3.6 Iritech Inc.
14.3.7 M2SYS Technology
14.3.8 SRI International
14.3.9 Thales Group
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL IRIS RECOGNITION MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Component
5.5 Market Breakup by Product Integration
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
6 MARKET BREAKUP BY COMPONENT
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY PRODUCT INTEGRATION
7.1 Smartphone
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Tablet and Notebook
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Scanner
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 PC/Laptop
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Smartwatches
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 MARKET BREAKUP BY END-USER
8.1 Government
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Transportation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Healthcare
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 MARKET BREAKUP BY REGION
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT ANALYSIS
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 VALUE CHAIN ANALYSIS
12 PORTERS FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BioEnable Technologies Pvt. Ltd.
14.3.2 eyeLock LLC
14.3.3 HID Global Corporation (Assa Abloy AB)
14.3.4 Iris ID Inc
14.3.5 IrisGuard UK Ltd
14.3.6 Iritech Inc.
14.3.7 M2SYS Technology
14.3.8 SRI International
14.3.9 Thales Group
LIST OF TABLES
Table 1: Global: Iris Recognition Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Iris Recognition Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Iris Recognition Market Forecast: Breakup by Product Integration (in Million US$), 2023-2028
Table 4: Global: Iris Recognition Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 5: Global: Iris Recognition Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Iris Recognition Market Structure
Table 7: Global: Iris Recognition Market: Key Players
Table 1: Global: Iris Recognition Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Iris Recognition Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Iris Recognition Market Forecast: Breakup by Product Integration (in Million US$), 2023-2028
Table 4: Global: Iris Recognition Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 5: Global: Iris Recognition Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Iris Recognition Market Structure
Table 7: Global: Iris Recognition Market: Key Players
LIST OF FIGURES
Figure 1: Global: Iris Recognition Market: Major Drivers and Challenges
Figure 2: Global: Iris Recognition Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Iris Recognition Market: Breakup by Component (in %), 2022
Figure 4: Global: Iris Recognition Market: Breakup by Product Integration (in %), 2022
Figure 5: Global: Iris Recognition Market: Breakup by End-User (in %), 2022
Figure 6: Global: Iris Recognition Market: Breakup by Region (in %), 2022
Figure 7: Global: Iris Recognition Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Iris Recognition Industry: SWOT Analysis
Figure 9: Global: Iris Recognition Industry: Value Chain Analysis
Figure 10: Global: Iris Recognition Industry: Porter’s Five Forces Analysis
Figure 11: Global: Iris Recognition (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Iris Recognition (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Iris Recognition (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Iris Recognition (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Iris Recognition (Smartphone) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Iris Recognition (Smartphone) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Iris Recognition (Tablet and Notebook) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Iris Recognition (Tablet and Notebook) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Iris Recognition (Scanner) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Iris Recognition (Scanner) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Iris Recognition (PC/Laptop) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Iris Recognition (PC/Laptop) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Iris Recognition (Smartwatches) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Iris Recognition (Smartwatches) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Iris Recognition (Other Product Integrations) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Iris Recognition (Other Product Integrations) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Iris Recognition (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Iris Recognition (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Iris Recognition (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Iris Recognition (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Iris Recognition (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Iris Recognition (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Iris Recognition (Other End-Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Iris Recognition (Other End-Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: North America: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: North America: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Europe: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Europe: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Asia Pacific: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Asia Pacific: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Middle East and Africa: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Middle East and Africa: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Latin America: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Latin America: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 1: Global: Iris Recognition Market: Major Drivers and Challenges
Figure 2: Global: Iris Recognition Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Iris Recognition Market: Breakup by Component (in %), 2022
Figure 4: Global: Iris Recognition Market: Breakup by Product Integration (in %), 2022
Figure 5: Global: Iris Recognition Market: Breakup by End-User (in %), 2022
Figure 6: Global: Iris Recognition Market: Breakup by Region (in %), 2022
Figure 7: Global: Iris Recognition Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Iris Recognition Industry: SWOT Analysis
Figure 9: Global: Iris Recognition Industry: Value Chain Analysis
Figure 10: Global: Iris Recognition Industry: Porter’s Five Forces Analysis
Figure 11: Global: Iris Recognition (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Iris Recognition (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Iris Recognition (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Iris Recognition (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Iris Recognition (Smartphone) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Iris Recognition (Smartphone) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Iris Recognition (Tablet and Notebook) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Iris Recognition (Tablet and Notebook) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Iris Recognition (Scanner) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Iris Recognition (Scanner) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Iris Recognition (PC/Laptop) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Iris Recognition (PC/Laptop) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Iris Recognition (Smartwatches) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Iris Recognition (Smartwatches) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Iris Recognition (Other Product Integrations) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Iris Recognition (Other Product Integrations) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Iris Recognition (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Iris Recognition (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Iris Recognition (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Iris Recognition (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Iris Recognition (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Iris Recognition (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Iris Recognition (Other End-Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Iris Recognition (Other End-Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: North America: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: North America: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Europe: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Europe: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Asia Pacific: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Asia Pacific: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Middle East and Africa: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Middle East and Africa: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Latin America: Iris Recognition Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Latin America: Iris Recognition Market Forecast: Sales Value (in Million US$), 2023-2028
