Global Iris Recognition Market Size, Share & Industry Trends Analysis Report By Application, By Product (Scanners, Smartphones, Personal Computers/Laptops, Tablets & Notebooks), By Component, By Vertical, By Regional Outlook and Forecast, 2022 - 2028

Global Iris Recognition Market Size, Share & Industry Trends Analysis Report By Application, By Product (Scanners, Smartphones, Personal Computers/Laptops, Tablets & Notebooks), By Component, By Vertical, By Regional Outlook and Forecast, 2022 - 2028

The Global Iris Recognition Market size is expected to reach $8.9 billion by 2028, rising at a market growth of 15.6% CAGR during the forecast period.

Iris recognition is a precise and effective technology for protecting information, people, and other sensitive things. Due to its usage in consumer electronics devices like PCs and laptops, iris recognition is becoming more popular. The use of iris recognition technology in laptops has raised general awareness of its convenience and dependability.

Although it is 10 times more expensive than fingerprint scanner technology, iris recognition is 10 times more secure. As a result, the iris recognition market has begun to migrate to reduce costs, and it is anticipated that it will soon be a technology for identity management. The distinctive patterns in people's irises—the colourful circles in their eyes—are measured via iris scanning.

To detect distinctive patterns undetectable to the human eye, biometric iris recognition scanners illuminate the iris with invisible infrared light. Eyelids, Eyelashes, and specular reflections that generally cover some of the iris are detected and excluded by iris scanners. The result is a collection of pixels that only include the iris.

The bit pattern encodes the data in the iris is then extracted by analysing the pattern of the lines and colours in the eye. This bit pattern is digitalized and checked against templates that are kept in a database for identification or verification (one-to-one template matching) (one-to-many template matching).

Iris scanners gather over 240 biometric characteristics, which are distinctive to each eye. The data is subsequently converted into a digital format by the scanners. This digital database contains the numeric representation of the data that was taken from the iris image.

COVID-19 Impact Analysis

Iris and periocular recognition could become more widely used due to biometrics research sparked by COVID-19. The adoption of COVID-19 has fostered a move from touch-based to contactless technology, which has resulted in a considerable loss for fingerprint recognition methods. The new standard of touchless recognition systems has been established since contact-based technology presents a significant risk to sanitary safety. With this change in mind, iris recognition is thought to be the greatest option by far. Therefore, the COVID-19 has a favourable effect on the market for iris recognition.

Market Growth Factors

Governmental agencies are using iris recognition technology more often for identification and authentication.

One of the first industries to use iris recognition technology, the government sector creates significant demand for its goods and services. This is one of the main drivers of the iris recognition market's expansion. Iris recognition technology is used by government departments, agencies, and organisations worldwide for identification and authentication. For instance, the Next Generation Identification (NGI) systems, and the National Crime Information Center (NCIC) were developed by the Federal Bureau of Investigation (FBI) in collaboration with local, state, tribal, and federal authorities. As a trustworthy method of identification, these systems use iris recognition.

Adoption Of Biometric Technologies In The Defence And Automobile Industries

Touchless biometric products are anticipated to have strong demand in the automotive industry in the upcoming years. User/driver authentication, in-cabin personalisation, in-car payment, and intra-vehicle network encryption are just a few of the uses for scanning the vein, face, iris, or finger. Numerous automotive behemoths, including Ford Motor Company (US), Audi AG, and BMW AG, are developing touchless biometric systems for automobile use. In addition, the car industry is embracing iris-based biometric systems because of their high accuracy, non-contact characteristics, and ability to operate in low light.

Market Restraining Factors

Competition With Other Biometric Technologies

There are numerous biometric technologies on the market, including voice recognition, vascular recognition, face recognition, fingerprint recognition, and iris recognition. The market acceptability of various technologies varies depending on their benefits and drawbacks. Face and fingerprint recognition technologies are fierce competitors for iris recognition technology. Its high price is one of the main causes of this. Iris scanners cost more than face and fingerprint detection systems, which are their alternatives.

Component Outlook

Based on the Component, the Iris Recognition Market is divided into Hardware and Software. In terms of revenue, the Software component sector held the largest market share in 2021. The software part has been divided into sub-segments, including iris recognition software & SDK, database, and analytics solution. Iris recognition software and SDK held a higher market share than hardware components, and a common pattern is projected to persist shortly.

Product Outlook

Based on Product, Iris Recognition Market is divided into Scanners, Wearables, Tablets & Notebooks, Personal Computers/Laptops, and Smartphones. The smartphone sub-segment is expected to register the significant market share in the iris recognition market by 2021. Smartphones are regarded as the most cutting-edge technology of the twenty-first century. This smartphone's integration of IRIS technology increases its functionality and ability to provide precise results.

Application Outlook

Based on Application, the Iris Recognition Market is divided into E-Payment, Time Monitoring, and Identity Management & Access Control. In 2021, the E-Payment accounted for the significant share in Iris recognition market. Companies are already beginning to use biometric technology for payments and money transfers due to a rise in smartphone usage for banking and shopping purposes. Customers that use solely PINs and passwords are particularly vulnerable to fraud.

Verticals Outlook

Based on the verticals, the Government, Military & Defense, Healthcare, Banking & Finance, Consumer Electronics, Travel & Immigration, Automotive, and Others. Military & Defense segment generated the prominent revenue share in 2021. The usage of biometrics in defence is not simply restricted to one or two functions; it offers a wide range of applications for safeguarding various military operations or actions. Identification and access control are the two most crucial biometrics applications in the defence industry.

Regional Outlook

Based on geography, the Iris Recognition Market is divided into North America, Europe, Asia Pacific, and LAMEA. In terms of revenue, North America currently owns the largest share, and it is predicted that the region will continue its dominance during the projected period. The main factors fueling the growth in this region are the presence of significant players and massive investments in R&D activities to advance cutting-edge technologies. Additionally, it is anticipated that installing ocular scanners at US borders will increase demand in this industry.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thales Group S.A., IDEMIA SAS (Advent International, Inc.), NEC Corporation, Aware, Inc., M2SYS Technology, Inc., Unisys Corporation, IrisGuard Ltd., Iris ID, Inc, and Princeton Identity, Inc.

Scope of the Study

Market Segments covered in the Report:

By Application

  • Identity Management & Access Control
  • Time Monitoring
  • E-Payment
By Product
  • Scanners
  • Smartphones
  • Personal Computers/Laptops
  • Tablets & Notebooks
  • Others
By Component
  • Software
  • Hardware
By Vertical
  • Banking & Finance
  • Consumer Electronics
  • Military & Defense
  • Automotive
  • Government
  • Travel & Immigration
  • Healthcare
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Thales Group S.A.
  • IDEMIA SAS (Advent International, Inc.)
  • NEC Corporation
  • Aware, Inc.
  • M2SYS Technology, Inc.
  • Unisys Corporation
  • IrisGuard Ltd.
  • Iris ID, Inc
  • Princeton Identity, Inc.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Iris Recognition Market, by Application
1.4.2 Global Iris Recognition Market, by Product
1.4.3 Global Iris Recognition Market, by Component
1.4.4 Global Iris Recognition Market, by Vertical
1.4.5 Global Iris Recognition Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Market Share Analysis, 2021
Chapter 4. Global Iris Recognition Market by Application
4.1 Global Identity Management & Access Control Market by Region
4.2 Global Time Monitoring Market by Region
4.3 Global E-Payment Market by Region
Chapter 5. Global Iris Recognition Market by Product
5.1 Global Scanners Market by Region
5.2 Global Smartphones Market by Region
5.3 Global Personal Computers/Laptops Market by Region
5.4 Global Tablets & Notebooks Market by Region
5.5 Global Others Market by Region
Chapter 6. Global Iris Recognition Market by Component
6.1 Global Software Market by Region
6.2 Global Hardware Market by Region
Chapter 7. Global Iris Recognition Market by Vertical
7.1 Global Banking & Finance Market by Region
7.2 Global Consumer Electronics Market by Region
7.3 Global Military & Defense Market by Region
7.4 Global Automotive Market by Region
7.5 Global Government Market by Region
7.6 Global Travel & Immigration Market by Region
7.7 Global Healthcare Market by Region
7.8 Global Others Market by Region
Chapter 8. Global Iris Recognition Market by Region
8.1 North America Iris Recognition Market
8.1.1 North America Iris Recognition Market by Application
8.1.1.1 North America Identity Management & Access Control Market by Country
8.1.1.2 North America Time Monitoring Market by Country
8.1.1.3 North America E-Payment Market by Country
8.1.2 North America Iris Recognition Market by Product
8.1.2.1 North America Scanners Market by Country
8.1.2.2 North America Smartphones Market by Country
8.1.2.3 North America Personal Computers/Laptops Market by Country
8.1.2.4 North America Tablets & Notebooks Market by Country
8.1.2.5 North America Others Market by Country
8.1.3 North America Iris Recognition Market by Component
8.1.3.1 North America Software Market by Country
8.1.3.2 North America Hardware Market by Country
8.1.4 North America Iris Recognition Market by Vertical
8.1.4.1 North America Banking & Finance Market by Country
8.1.4.2 North America Consumer Electronics Market by Country
8.1.4.3 North America Military & Defense Market by Country
8.1.4.4 North America Automotive Market by Country
8.1.4.5 North America Government Market by Country
8.1.4.6 North America Travel & Immigration Market by Country
8.1.4.7 North America Healthcare Market by Country
8.1.4.8 North America Others Market by Country
8.1.5 North America Iris Recognition Market by Country
8.1.5.1 US Iris Recognition Market
8.1.5.1.1 US Iris Recognition Market by Application
8.1.5.1.2 US Iris Recognition Market by Product
8.1.5.1.3 US Iris Recognition Market by Component
8.1.5.1.4 US Iris Recognition Market by Vertical
8.1.5.2 Canada Iris Recognition Market
8.1.5.2.1 Canada Iris Recognition Market by Application
8.1.5.2.2 Canada Iris Recognition Market by Product
8.1.5.2.3 Canada Iris Recognition Market by Component
8.1.5.2.4 Canada Iris Recognition Market by Vertical
8.1.5.3 Mexico Iris Recognition Market
8.1.5.3.1 Mexico Iris Recognition Market by Application
8.1.5.3.2 Mexico Iris Recognition Market by Product
8.1.5.3.3 Mexico Iris Recognition Market by Component
8.1.5.3.4 Mexico Iris Recognition Market by Vertical
8.1.5.4 Rest of North America Iris Recognition Market
8.1.5.4.1 Rest of North America Iris Recognition Market by Application
8.1.5.4.2 Rest of North America Iris Recognition Market by Product
8.1.5.4.3 Rest of North America Iris Recognition Market by Component
8.1.5.4.4 Rest of North America Iris Recognition Market by Vertical
8.2 Europe Iris Recognition Market
8.2.1 Europe Iris Recognition Market by Application
8.2.1.1 Europe Identity Management & Access Control Market by Country
8.2.1.2 Europe Time Monitoring Market by Country
8.2.1.3 Europe E-Payment Market by Country
8.2.2 Europe Iris Recognition Market by Product
8.2.2.1 Europe Scanners Market by Country
8.2.2.2 Europe Smartphones Market by Country
8.2.2.3 Europe Personal Computers/Laptops Market by Country
8.2.2.4 Europe Tablets & Notebooks Market by Country
8.2.2.5 Europe Others Market by Country
8.2.3 Europe Iris Recognition Market by Component
8.2.3.1 Europe Software Market by Country
8.2.3.2 Europe Hardware Market by Country
8.2.4 Europe Iris Recognition Market by Vertical
8.2.4.1 Europe Banking & Finance Market by Country
8.2.4.2 Europe Consumer Electronics Market by Country
8.2.4.3 Europe Military & Defense Market by Country
8.2.4.4 Europe Automotive Market by Country
8.2.4.5 Europe Government Market by Country
8.2.4.6 Europe Travel & Immigration Market by Country
8.2.4.7 Europe Healthcare Market by Country
8.2.4.8 Europe Others Market by Country
8.2.5 Europe Iris Recognition Market by Country
8.2.5.1 Germany Iris Recognition Market
8.2.5.1.1 Germany Iris Recognition Market by Application
8.2.5.1.2 Germany Iris Recognition Market by Product
8.2.5.1.3 Germany Iris Recognition Market by Component
8.2.5.1.4 Germany Iris Recognition Market by Vertical
8.2.5.2 UK Iris Recognition Market
8.2.5.2.1 UK Iris Recognition Market by Application
8.2.5.2.2 UK Iris Recognition Market by Product
8.2.5.2.3 UK Iris Recognition Market by Component
8.2.5.2.4 UK Iris Recognition Market by Vertical
8.2.5.3 France Iris Recognition Market
8.2.5.3.1 France Iris Recognition Market by Application
8.2.5.3.2 France Iris Recognition Market by Product
8.2.5.3.3 France Iris Recognition Market by Component
8.2.5.3.4 France Iris Recognition Market by Vertical
8.2.5.4 Russia Iris Recognition Market
8.2.5.4.1 Russia Iris Recognition Market by Application
8.2.5.4.2 Russia Iris Recognition Market by Product
8.2.5.4.3 Russia Iris Recognition Market by Component
8.2.5.4.4 Russia Iris Recognition Market by Vertical
8.2.5.5 Spain Iris Recognition Market
8.2.5.5.1 Spain Iris Recognition Market by Application
8.2.5.5.2 Spain Iris Recognition Market by Product
8.2.5.5.3 Spain Iris Recognition Market by Component
8.2.5.5.4 Spain Iris Recognition Market by Vertical
8.2.5.6 Italy Iris Recognition Market
8.2.5.6.1 Italy Iris Recognition Market by Application
8.2.5.6.2 Italy Iris Recognition Market by Product
8.2.5.6.3 Italy Iris Recognition Market by Component
8.2.5.6.4 Italy Iris Recognition Market by Vertical
8.2.5.7 Rest of Europe Iris Recognition Market
8.2.5.7.1 Rest of Europe Iris Recognition Market by Application
8.2.5.7.2 Rest of Europe Iris Recognition Market by Product
8.2.5.7.3 Rest of Europe Iris Recognition Market by Component
8.2.5.7.4 Rest of Europe Iris Recognition Market by Vertical
8.3 Asia Pacific Iris Recognition Market
8.3.1 Asia Pacific Iris Recognition Market by Application
8.3.1.1 Asia Pacific Identity Management & Access Control Market by Country
8.3.1.2 Asia Pacific Time Monitoring Market by Country
8.3.1.3 Asia Pacific E-Payment Market by Country
8.3.2 Asia Pacific Iris Recognition Market by Product
8.3.2.1 Asia Pacific Scanners Market by Country
8.3.2.2 Asia Pacific Smartphones Market by Country
8.3.2.3 Asia Pacific Personal Computers/Laptops Market by Country
8.3.2.4 Asia Pacific Tablets & Notebooks Market by Country
8.3.2.5 Asia Pacific Others Market by Country
8.3.3 Asia Pacific Iris Recognition Market by Component
8.3.3.1 Asia Pacific Software Market by Country
8.3.3.2 Asia Pacific Hardware Market by Country
8.3.4 Asia Pacific Iris Recognition Market by Vertical
8.3.4.1 Asia Pacific Banking & Finance Market by Country
8.3.4.2 Asia Pacific Consumer Electronics Market by Country
8.3.4.3 Asia Pacific Military & Defense Market by Country
8.3.4.4 Asia Pacific Automotive Market by Country
8.3.4.5 Asia Pacific Government Market by Country
8.3.4.6 Asia Pacific Travel & Immigration Market by Country
8.3.4.7 Asia Pacific Healthcare Market by Country
8.3.4.8 Asia Pacific Others Market by Country
8.3.5 Asia Pacific Iris Recognition Market by Country
8.3.5.1 China Iris Recognition Market
8.3.5.1.1 China Iris Recognition Market by Application
8.3.5.1.2 China Iris Recognition Market by Product
8.3.5.1.3 China Iris Recognition Market by Component
8.3.5.1.4 China Iris Recognition Market by Vertical
8.3.5.2 Japan Iris Recognition Market
8.3.5.2.1 Japan Iris Recognition Market by Application
8.3.5.2.2 Japan Iris Recognition Market by Product
8.3.5.2.3 Japan Iris Recognition Market by Component
8.3.5.2.4 Japan Iris Recognition Market by Vertical
8.3.5.3 India Iris Recognition Market
8.3.5.3.1 India Iris Recognition Market by Application
8.3.5.3.2 India Iris Recognition Market by Product
8.3.5.3.3 India Iris Recognition Market by Component
8.3.5.3.4 India Iris Recognition Market by Vertical
8.3.5.4 South Korea Iris Recognition Market
8.3.5.4.1 South Korea Iris Recognition Market by Application
8.3.5.4.2 South Korea Iris Recognition Market by Product
8.3.5.4.3 South Korea Iris Recognition Market by Component
8.3.5.4.4 South Korea Iris Recognition Market by Vertical
8.3.5.5 Singapore Iris Recognition Market
8.3.5.5.1 Singapore Iris Recognition Market by Application
8.3.5.5.2 Singapore Iris Recognition Market by Product
8.3.5.5.3 Singapore Iris Recognition Market by Component
8.3.5.5.4 Singapore Iris Recognition Market by Vertical
8.3.5.6 Malaysia Iris Recognition Market
8.3.5.6.1 Malaysia Iris Recognition Market by Application
8.3.5.6.2 Malaysia Iris Recognition Market by Product
8.3.5.6.3 Malaysia Iris Recognition Market by Component
8.3.5.6.4 Malaysia Iris Recognition Market by Vertical
8.3.5.7 Rest of Asia Pacific Iris Recognition Market
8.3.5.7.1 Rest of Asia Pacific Iris Recognition Market by Application
8.3.5.7.2 Rest of Asia Pacific Iris Recognition Market by Product
8.3.5.7.3 Rest of Asia Pacific Iris Recognition Market by Component
8.3.5.7.4 Rest of Asia Pacific Iris Recognition Market by Vertical
8.4 LAMEA Iris Recognition Market
8.4.1 LAMEA Iris Recognition Market by Application
8.4.1.1 LAMEA Identity Management & Access Control Market by Country
8.4.1.2 LAMEA Time Monitoring Market by Country
8.4.1.3 LAMEA E-Payment Market by Country
8.4.2 LAMEA Iris Recognition Market by Product
8.4.2.1 LAMEA Scanners Market by Country
8.4.2.2 LAMEA Smartphones Market by Country
8.4.2.3 LAMEA Personal Computers/Laptops Market by Country
8.4.2.4 LAMEA Tablets & Notebooks Market by Country
8.4.2.5 LAMEA Others Market by Country
8.4.3 LAMEA Iris Recognition Market by Component
8.4.3.1 LAMEA Software Market by Country
8.4.3.2 LAMEA Hardware Market by Country
8.4.4 LAMEA Iris Recognition Market by Vertical
8.4.4.1 LAMEA Banking & Finance Market by Country
8.4.4.2 LAMEA Consumer Electronics Market by Country
8.4.4.3 LAMEA Military & Defense Market by Country
8.4.4.4 LAMEA Automotive Market by Country
8.4.4.5 LAMEA Government Market by Country
8.4.4.6 LAMEA Travel & Immigration Market by Country
8.4.4.7 LAMEA Healthcare Market by Country
8.4.4.8 LAMEA Others Market by Country
8.4.5 LAMEA Iris Recognition Market by Country
8.4.5.1 Brazil Iris Recognition Market
8.4.5.1.1 Brazil Iris Recognition Market by Application
8.4.5.1.2 Brazil Iris Recognition Market by Product
8.4.5.1.3 Brazil Iris Recognition Market by Component
8.4.5.1.4 Brazil Iris Recognition Market by Vertical
8.4.5.2 Argentina Iris Recognition Market
8.4.5.2.1 Argentina Iris Recognition Market by Application
8.4.5.2.2 Argentina Iris Recognition Market by Product
8.4.5.2.3 Argentina Iris Recognition Market by Component
8.4.5.2.4 Argentina Iris Recognition Market by Vertical
8.4.5.3 UAE Iris Recognition Market
8.4.5.3.1 UAE Iris Recognition Market by Application
8.4.5.3.2 UAE Iris Recognition Market by Product
8.4.5.3.3 UAE Iris Recognition Market by Component
8.4.5.3.4 UAE Iris Recognition Market by Vertical
8.4.5.4 Saudi Arabia Iris Recognition Market
8.4.5.4.1 Saudi Arabia Iris Recognition Market by Application
8.4.5.4.2 Saudi Arabia Iris Recognition Market by Product
8.4.5.4.3 Saudi Arabia Iris Recognition Market by Component
8.4.5.4.4 Saudi Arabia Iris Recognition Market by Vertical
8.4.5.5 South Africa Iris Recognition Market
8.4.5.5.1 South Africa Iris Recognition Market by Application
8.4.5.5.2 South Africa Iris Recognition Market by Product
8.4.5.5.3 South Africa Iris Recognition Market by Component
8.4.5.5.4 South Africa Iris Recognition Market by Vertical
8.4.5.6 Nigeria Iris Recognition Market
8.4.5.6.1 Nigeria Iris Recognition Market by Application
8.4.5.6.2 Nigeria Iris Recognition Market by Product
8.4.5.6.3 Nigeria Iris Recognition Market by Component
8.4.5.6.4 Nigeria Iris Recognition Market by Vertical
8.4.5.7 Rest of LAMEA Iris Recognition Market
8.4.5.7.1 Rest of LAMEA Iris Recognition Market by Application
8.4.5.7.2 Rest of LAMEA Iris Recognition Market by Product
8.4.5.7.3 Rest of LAMEA Iris Recognition Market by Component
8.4.5.7.4 Rest of LAMEA Iris Recognition Market by Vertical
Chapter 9. Company Profiles
9.1 Thales Group S.A.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research and Development Expense
9.2 NEC Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expenses
9.3 Aware, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research & Development Expense
9.4 Unisys Corporation
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Product Launches and Product Expansions:
9.5 IDEMIA SAS (Advent International, Inc.)
9.5.1 Company Overview
9.6 M2SYS Technology, Inc.
9.6.1 Company Overview
9.7 IrisGuard UK Limited
9.7.1 Company Overview
9.8 Iris ID, Inc.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.9 Princeton Identity, Inc.
9.9.1 Company Overview

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