The Global Iris Recognition Market is forecasted to be worth USD 5.88 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of iris recognition system (IRS) in government identity systems and smartphones & other IoT devices owing to its more accurate personal identification, reduced risks of security breaches, and huge overall growth of the IoT device industry.

The report performs an insightful analysis of various fundamental market aspects, including SWOT analysis, CAGR during the projected period, recent developments, new product launches, technology upgradation, product offerings, application landscape, end-users, and geographical footprint of the leading companies. The market estimations carried out by our team of industry experts are based on various research methodologies and validated information on the present market scenario.

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Further key findings from the report suggest

• In June 2020, EyeLock LLC, a leading manufacturer of the iris recognition-based identity authentication solutions, revealed a global strategic partnership with CMITech Company, Ltd. of South Korea. The partnership & collaboration would help broaden the accessibility of the global iris technology market and enable EyeLock to launch new interoperable products in addition to the existing product line.
• The developing regions including China, India, Vietnam, Taiwan, and South Korea in the Asia Pacific are experiencing a rapid development in the smartphone & electronic devices and growing incidences of security threats, and a huge concern for the personal authentication along with a higher economic development & government initiatives against the public security breaching in the developing countries especially, deliberately help propel the market enforcement.
• Key players in the market BioEnable Technologies Pvt. Ltd., Iris ID Systems Inc., M2SYS Technology, Honeywell International Inc., IRITECH INC., Safran SA, EyeLock LLC, Aware Inc., Thales Group, and IrisGuard UK Ltd., among others.

Market Segmentation:

For the purpose of this report, Emergen Research has segmented into the global Iris Recognition Market on the basis of Product, Industry Vertical, Application, System Type, Component, and Region:

• Product Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
  • Iris Scanners
  • Smartphone & Tablets
  • Wearable Gadgets
  • Others
• Industry Vertical Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
  • Consumer Electronics
  • Government & Defense
  • Banking, Financial services, and Insurance (BFSI)
  • IT & Telecommunication
  • Retail and E-commerce
  • Human Resource
  • Healthcare
  • Others
• Application Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
  • Identity management and Access Control
  • Time Monitoring
  • E-Payment
• Component Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
  • Hardware
  • Software
• System Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
  • Unimodal Biometric Systems
  • Multimodal Biometric Systems

Regional Analysis:

The global Iris Recognition market consists of various significant regional segments. Under this section of the report, the product demand, output, and estimated revenue share of each region have been ascertained. The most prominent regions dictating the global market include: 

• North America (U.S., Canada, Mexico)
• South America (Brazil, Argentina, Ecuador, Chile)
• Europe (U.K., Germany, France, Italy)
• Asia Pacific (China, Japan, India, Korea)
• Middle East &Africa (Egypt, Turkey, Saudi Arabia, Iran)

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Key Questions Addressed:

1. What is the estimated value of the global Iris Recognition market by the end of the forecast period?
2. What are the fundamental factors propelling the growth of the global Iris Recognition market?
3. Which are the leading regionsin the Iris Recognition market with the highest market shares?
4. Which regional segment is likely to record the highest CAGR during the forecast duration?
5. What are their strengths and weaknesses of the leading companies in this market?

Table Of Content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Iris Recognition Market Segmentation & Impact Analysis
    4.1. Iris Recognition Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Growing incidences of security breaches
                    4.2.2.2. Extensive proliferation of smartphone industry
                    4.2.2.3. Huge growth in the IoT devices & implementation of iris recognition system (IRS) in them
          4.2.3. Market restraints analysis
                    4.2.3.1. Rising cases of identity data losses
                    4.2.3.2. Inefficient research methodologies
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

Chapter 5. Iris Recognition Market By Product Insights & Trends, Revenue (USD Billion) (Thousand Units)
    5.1. Product Dynamics & Market Share, 2019 & 2027
          5.1.1. Iris Scanners
          5.1.2. Smartphone & Tablets
          5.1.3. Wearable Gadgets
          5.1.4. Others

Continued…!

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