Iris Recognition Market is estimated to reach a market size worth US$1,857.427 million by 2026

Knowledge Sourcing Intelligence launches the publication of a new report on “Iris Recognition Market – Forecasts from 2019 to 2026” to their giving.

The prime factor driving the growth of the iris recognition market is the surging cases of cybercrime demanding stronger security systems.

As per the report, the market for Iris Recognition Market is expected to grow at a steady pace.

Iris Recognition is referred to an advanced automated technology which works on the principle of mathematic pattern recognition technique. The superiority of iris recognition over other ordinary biometric identification methods due to its property of nullifying the risk of false matching or collusion even at comparison across a massive population. The rising instances of cyber-crime and the growing demand and adoption of security systems across all industry verticals is driving the growth of iris recognition market. Also, the surging demand of smartphone devices is further fuelling the demand of iris recognition in the consumer electronics industry. However, the market is constrained by the failure of providing hack-proof security.

Based on end-users, the iris recognition market is fragmented as consumer electronics, healthcare, BFSI, military and defense, government, automotive and others. The higher adoption of iris recognition in the consumer electronics and automotive sectors is accounting for its growth in the forecast period. The increasing necessity of smartphone devices and the rising disposable income have been the prime factors driving the growth of the iris recognition market.

By product integration, the iris recognition market is segmented into smartphones, tables and notebooks, PC/Laptops, scanners, smartwatches, and others. During the forecast period, the scanner segment shows prominent growth owing to the higher adoption and demand of iris scanners in the banking & finance, military & defense, governments, travel & immigration industry verticals for access control and identity management applications.

Based on geography, the iris recognition market is segmented into the North American region, the South American region, the Middle East and African region, the European region, and the Asia Pacific region. The North America iris recognition market shows promising growth during the forecasted period accounting to the early adoption of this technology and the presence of key players in the iris recognition market.  Also, the increasing investment in the research and development activities for the development of technologies is accounting to its growth in this region. The Asia Pacific region is also projected to growth at a rapid pace due to the rising adoption of smart devices including smartphones and the rising disposable income.

As a part of the report, the major players operating in the iris recognition market, that have been covered are Gemalto (Thales Group), Iritech Inc., SRI International, HDI Global Corporation, EyeLock, IrisGuard UK Ltd, IDEMIA, BioEnable, IrisAccess

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This analytics report segments the iris recognition market on the following basis:

  • By Component
    • Hardware
    • Software
  • By Product Integration
    • Smart Phones
    • Table and Notebook
    • Scanner
    • PC/ Laptop
    • Smartwatches
    • others
  • By End-Users
    • Consumer Electronics
    • Healthcare
    • BFSI
    • Government
    • Military and Defense
    • Automotive
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Japan
      • Others