NEW YORK, July 4, 2022 /PRNewswire/ — Iris recognition is a biometric authentication technology that captures an image of the eye pattern, converts the iris image to a binary template, and then saves the data to a server for the future to match the identity of an individual. Some of the major features of this technology include contactless, fast, accurate, operating at long distances, stable, non-invasive, and hygienic.
The iris recognition market size is expected to grow by USD 1.33 bn from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 16.41% during the forecast period, according to Technavio.
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Iris Recognition Market 2021-2025 : Scope
The iris recognition market report covers the following areas:
Iris Recognition Market sizeIris Recognition Market trendsIris Recognition Market industry analysis
Iris Recognition Market 2021-2025 : Five Forces Analysis
Bargaining power of buyers: The global iris recognition market has several regional and international vendors that offer iris recognition at competitive prices. This gives buyers plenty of bargaining power. However, moderate product differentiation and low purchase cost reduction due to the low profitability of buyers will make the bargaining power of buyers moderate during the forecast period.
Iris Recognition Market 2021-2025 : Segmentation
End UserGovernmentTransportationHealthcareOthersGeographyAPACEuropeNorth AmericaSouth America
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Iris Recognition Market 2021-2025 : Revenue-generating End-user segment
The government segment will have significant market share growth during the forecast period. Governments across the world are adopting iris recognition biometric technology due to incidents of violent activities and intrusions. An iris scanner captures a high-resolution image of an individual’s eye and ensures accurate real-time identification. Furthermore, the increasing adoption of mobile biometrics in the government sector for law enforcement is increasing the adoption of iris recognition technology. In addition, the need to track employees and the introduction of government initiatives, such as e-passports, border control programs, and e-governance, are fueling the growth of the market.
Iris Recognition Market 2021-2025 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the iris recognition market, including Aware Inc., BioEnable Technologies Pvt. Ltd., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, Safran SA, and Thales Group among others.
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Iris Recognition Market 2021-2025 : Key Highlights
CAGR of the market during the forecast period 2021-2025Detailed information on factors that will assist iris recognition market growth during the next five yearsEstimation of the iris recognition market size and its contribution to the parent marketPredictions on upcoming trends and changes in consumer behaviorThe growth of the iris recognition marketAnalysis of the market’s competitive landscape and detailed information on vendorsComprehensive details of factors that will challenge the growth of iris recognition market vendors
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Iris Recognition Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 16.41%
Market growth 2021-2025
USD 1.33 billion
Market structure
Fragmented
YoY growth (%)
20.13
Regional analysis
APAC, Europe, North America, and South America
Performing market contribution
APAC at 44%
Key consumer countries
US, China, Canada, and Germany
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Aware Inc., BioEnable Technologies Pvt. Ltd., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, Safran SA, and Thales Group
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table Of Contents :
1 Executive Summary
2 Market Landscape
2.1 Market ecosystemExhibit 01: Parent marketExhibit 02: Market characteristics2.2 Value chain analysisExhibit 03: Value chain analysis: Communications equipment
3 Market Sizing
3.1 Market definitionExhibit 04: Offerings of vendors included in the market definition3.2 Market segment analysisExhibit 05: Market segments3.3 Market size 20203.4 Market outlook: Forecast for 2020 – 2025Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ million)(%)
4 Five Forces Analysis
4.1 Five forces summaryExhibit 08: Five forces analysis 2020 & 20254.2 Bargaining power of buyersExhibit 09: Bargaining power of buyers4.3 Bargaining power of suppliersExhibit 10: Bargaining power of suppliers4.4 Threat of new entrantsExhibit 11: Threat of new entrants4.5 Threat of substitutesExhibit 12: Threat of substitutes4.6 Threat of rivalryExhibit 13: Threat of rivalry4.7 Market conditionExhibit 14: Market condition – Five forces 2020
5 Market Segmentation by End-user
5.1 Market segmentsExhibit 15: End-user – Market share 2020-2025 (%)5.2 Comparison by End-userExhibit 16: Comparison by End-user5.3 Government – Market size and forecast 2020-2025Exhibit 17: Government – Market size and forecast 2020-2025 ($ million)Exhibit 18: Government – Year-over-year growth 2020-2025 (%)5.4 Transportation – Market size and forecast 2020-2025Exhibit 19: Transportation – Market size and forecast 2020-2025 ($ million)Exhibit 20: Transportation – Year-over-year growth 2020-2025 (%)5.5 Healthcare – Market size and forecast 2020-2025Exhibit 21: Healthcare – Market size and forecast 2020-2025 ($ million)Exhibit 22: Healthcare – Year-over-year growth 2020-2025 (%)5.6 Others – Market size and forecast 2020-2025Exhibit 23: Others – Market size and forecast 2020-2025 ($ million)Exhibit 24: Others – Year-over-year growth 2020-2025 (%)5.7 Market opportunity by End-userExhibit 25: Market opportunity by End-user
6 Customer landscape
7 Geographic Landscape
7.1 Geographic segmentationExhibit 27: Market share by geography 2020-2025 (%)7.2 Geographic comparisonExhibit 28: Geographic comparison7.3 APAC – Market size and forecast 2020-2025Exhibit 29: APAC – Market size and forecast 2020-2025 ($ million)Exhibit 30: APAC – Year-over-year growth 2020-2025 (%)7.4 North America – Market size and forecast 2020-2025Exhibit 31: North America – Market size and forecast 2020-2025 ($ million)Exhibit 32: North America – Year-over-year growth 2020-2025 (%)7.5 Europe – Market size and forecast 2020-2025Exhibit 33: Europe – Market size and forecast 2020-2025 ($ million)Exhibit 34: Europe – Year-over-year growth 2020-2025 (%)7.6 South America – Market size and forecast 2020-2025Exhibit 35: South America – Market size and forecast 2020-2025 ($ million)Exhibit 36: South America – Year-over-year growth 2020-2025 (%)7.7 MEA – Market size and forecast 2020-2025Exhibit 37: MEA – Market size and forecast 2020-2025 ($ million)Exhibit 38: MEA – Year-over-year growth 2020-2025 (%)7.8 Key leading countriesExhibit 39: Key leading countries7.9 Market opportunity by geographyExhibit 40: Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Market drivers8.2 Market challengesExhibit 41: Impact of drivers and challenges8.3 Market trends
9 Vendor Landscape
9.1 Competitive Scenario9.2 Vendor landscapeExhibit 42: Vendor landscape9.3 Landscape disruptionExhibit 43: Landscape disruptionExhibit 44: Industry risks
10 Vendor Analysis
10.1 Vendors coveredExhibit 45: Vendors covered10.2 Market positioning of vendorsExhibit 46: Market positioning of vendors10.3 Aware Inc.10.4 BI² TechnologiesExhibit 50: BI² Technologies – OverviewExhibit 51: BI² Technologies – Product and serviceExhibit 52: BI² Technologies – Key offerings10.5 BioEnable Technologies Pvt. Ltd.Exhibit 53: BioEnable Technologies Pvt. Ltd. – OverviewExhibit 54: BioEnable Technologies Pvt. Ltd. – Product and serviceExhibit 55: BioEnable Technologies Pvt. Ltd. – Key offerings10.6 EyeLock LLCExhibit 56: EyeLock LLC – OverviewExhibit 57: EyeLock LLC – Product and serviceExhibit 58: EyeLock LLC – Key offerings10.7 Honeywell International Inc.Exhibit 59: Honeywell International Inc. – OverviewExhibit 60: Honeywell International Inc. – Business segmentsExhibit 61: Honeywell International Inc. – Key newsExhibit 62: Honeywell International Inc. – Key offeringsExhibit 63: Honeywell International Inc. – Segment focus10.8 Iris ID Systems Inc.Exhibit 64: Iris ID Systems Inc. – OverviewExhibit 65: Iris ID Systems Inc. – Product and serviceExhibit 66: Iris ID Systems Inc. – Key offerings10.9 IrisGuard UK Ltd.Exhibit 67: IrisGuard UK Ltd. – OverviewExhibit 68: IrisGuard UK Ltd. – Product and serviceExhibit 69: IrisGuard UK Ltd. – Key offerings10.10 IRITECH INC.Exhibit 70: IRITECH INC. – OverviewExhibit 71: IRITECH INC. – Product and serviceExhibit 72: IRITECH INC. – Key offerings10.11 M2SYS TechnologyExhibit 73: M2SYS Technology – OverviewExhibit 74: M2SYS Technology – Product and serviceExhibit 75: M2SYS Technology – Key offerings10.12 Thales GroupExhibit 76: Thales Group – OverviewExhibit 77: Thales Group – Business segmentsExhibit 78: Thales Group – Key newsExhibit 79: Thales Group – Key offeringsExhibit 80: Thales Group – Segment focus
11 Appendix
11.1 Scope of the report11.2 Currency conversion rates for US$Exhibit 81: Currency conversion rates for US$11.3 Research methodologyExhibit 82: Research MethodologyExhibit 83: Validation techniques employed for market sizingExhibit 84: Information sources11.4 List of abbreviationsExhibit 85: List of abbreviations
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