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Iris Recognition Market by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical and Region - Global Forecast to 2027

Iris Recognition Market by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical and Region - Global Forecast to 2027

The iris recognition market is projected to grow from USD 3.7 billion in 2022 to USD 8.4 billion by 2027, registering a CAGR of 15.4% during the forecast period. Increased adoption of iris recognition technology for identification and authentication by government organizations and high penetration of iris recognition technology in consumer electronics, especially smartphones, are key factors propelling the iris recognition market growth. However, the fear of privacy intrusion and alternate biometric technologies are some factors hindering the growth of the iris recognition market.

"Government vertical held largest share of iris recognition market in 2021"

In terms of market size, the government vertical is expected to dominate the iris recognition market and is likely to witness significant growth during the forecast period. Demand for biometric technologies, especially fingerprint, face, and iris recognition technologies in the government sector, has increased considerably in recent years. In the government sector, iris recognition systems are used mainly for identification and authentication purposes, such as issuing national IDs and law enforcement. Biometric technologies, including iris recognition technology, are also used for election administration to reduce fake or bogus voting.

"Asia Pacific to witness highest growth among other regions during forecast period"

Asia Pacific is expected to dominate the iris recognition market during the forecast period. It is the most attractive business destination for iris recognition products and solution providers due to the growing consumer electronics industry, especially the smartphone market in this region. The growth of this market can be attributed to the rapid economic prosperity witnessed in major developing economies, technological advancements, and increased awareness among the masses.

China, Japan, South Korea, and India are a few major markets for iris recognition systems in Asia Pacific. These countries have taken numerous initiatives for the security of their citizens. In Japan and China, iris recognition systems have been deployed at various airports, banks, ATMs, and government institutes. India pioneered the mega project UID (i.e., unique identification) or "Aadhaar" for its citizens. Under the UID project, all citizens would be assigned one unique number for individual identity; the government of India has planned to issue an individual "Aadhaar" card to each citizen.

The report profiles key players in the iris recognition market with their respective market ranking analyses. Prominent players profiled in this report include Thales (France), IDEMIA (France), HID Global Corporation (US), Iris ID, Inc. (US), IriTech, Inc. (US), IrisGuard Ltd. (UK), eyeLock LLC (US), NEC Corporation (Japan), Princeton Identity (US), and CMITech Company, Ltd. (Korea), among others.

Research coverage
This research report categorizes the iris recognition market on the basis of component, product, application, vertical, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the iris recognition market and forecasts the same till 2027. Apart from these, the report also consists of leadership mapping and analysis of companies in the iris recognition ecosystem.

Key benefits of buying report
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the iris recognition market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Table of Contents

1INTRODUCTION29
1.1STUDY OBJECTIVES29
1.2MARKET DEFINITION AND SCOPE29
1.2.1INCLUSIONS AND EXCLUSIONS30
1.3STUDY SCOPE30
FIGURE 1IRIS RECOGNITION MARKET SEGMENTATION31
1.3.1YEARS CONSIDERED31
1.4CURRENCY CONSIDERED32
1.5STAKEHOLDERS32
1.6SUMMARY OF CHANGES32
2RESEARCH METHODOLOGY34
2.1RESEARCH DATA34
FIGURE 2IRIS RECOGNITION MARKET: RESEARCH DESIGN35
2.1.1SECONDARY DATA35
2.1.1.1Major secondary sources36
2.1.1.2Key data from secondary sources36
2.1.2PRIMARY DATA36
2.1.2.1Key data from primary sources37
2.1.2.2Breakdown of primaries37
2.1.3SECONDARY AND PRIMARY RESEARCH38
2.1.3.1Key industry insights38
2.2MARKET SIZE ESTIMATION39
2.2.1BOTTOM-UP APPROACH39
2.2.1.1Methodology to arrive at market size using bottom-up approach39
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 BOTTOM-UP (SUPPLY SIDE)— REVENUE GENERATED BY COMPANIES IN
IRIS RECOGNITION MARKET40
FIGURE 4IRIS RECOGNITION MARKET: BOTTOM-UP APPROACH40
2.2.2TOP-DOWN APPROACH40
2.2.2.1Methodology to arrive at market size using top-down approach40
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION FOR ONE COMPANY IN IRIS RECOGNITION MARKET41
FIGURE 6IRIS RECOGNITION MARKET: TOP-DOWN APPROACH41
2.3DATA TRIANGULATION42
FIGURE 7DATA TRIANGULATION42
2.4RESEARCH ASSUMPTIONS43
2.5RESEARCH LIMITATIONS43
2.6RISK ASSESSMENT44
3EXECUTIVE SUMMARY45
FIGURE 8SOFTWARE TO HOLD LARGER SHARE OF IRIS RECOGNITION MARKET THROUGHOUT FORECAST PERIOD46
FIGURE 9SCANNERS TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN 202746
FIGURE 10IDENTITY MANAGEMENT AND ACCESS CONTROL APPLICATION TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN 202747
FIGURE 11MARKET FOR HEALTHCARE VERTICAL TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD48
FIGURE 12ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 202148
4PREMIUM INSIGHTS50
4.1ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN IRIS RECOGNITION MARKET50
FIGURE 13INCREASING ADOPTION OF IRIS RECOGNITION TECHNOLOGY IN ASIA PACIFIC TO DRIVE MARKET GROWTH50
4.2IRIS RECOGNITION MARKET, BY COMPONENT50
FIGURE 14SOFTWARE TO HOLD LARGER MARKET SHARE IN 202250
4.3IRIS RECOGNITION MARKET, BY APPLICATION51
FIGURE 15IDENTITY MANAGEMENT AND ACCESS CONTROL APPLICATION TO CAPTURE LARGEST SHARE OF IRIS RECOGNITION MARKET DURING FORECAST PERIOD51
4.4IRIS RECOGNITION MARKET IN ASIA PACIFIC, BY VERTICAL AND COUNTRY51
FIGURE 16CHINA AND CONSUMER ELECTRONICS TO BE LARGEST SHAREHOLDERS IN IRIS RECOGNITION MARKET IN ASIA PACIFIC, BY COUNTRY AND VERTICAL, RESPECTIVELY, IN 202151
4.5IRIS RECOGNITION MARKET, BY VERTICAL52
FIGURE 17BANKING & FINANCE VERTICAL TO HOLD LARGEST MARKET SHARE
IN IRIS RECOGNITION MARKET IN 202252
4.6IRIS RECOGNITION MARKET, BY COUNTRY52
FIGURE 18INDIA TO HOLD LARGEST SHARE OF GLOBAL IRIS RECOGNITION
MARKET IN 202252
5MARKET OVERVIEW53
5.1INTRODUCTION53
5.2MARKET DYNAMICS53
FIGURE 19IRIS RECOGNITION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES53
5.2.1DRIVERS54
FIGURE 20IRIS RECOGNITION MARKET: DRIVERS AND THEIR IMPACT54
5.2.1.1Rising adoption of iris recognition technology by government organizations for identification and authentication purposes54
5.2.1.2Increasing penetration of iris recognition technology into consumer electronics industry55
FIGURE 21GLOBAL SMARTPHONE SHIPMENTS, 2019–2021 (BILLION UNITS)55
5.2.1.3Rising use of iris recognition technology in travel and immigration industry56

5.2.2RESTRAINTS57
FIGURE 22IRIS RECOGNITION MARKET: RESTRAINTS AND THEIR IMPACT57
5.2.2.1Risk of privacy breach and identity theft57
5.2.2.2Presence of different competitive biometric technologies57
TABLE 1COMPARISON BETWEEN VARIOUS BIOMETRIC TECHNOLOGIES58
5.2.3OPPORTUNITIES58
FIGURE 23IRIS RECOGNITION MARKET: OPPORTUNITIES AND THEIR IMPACT58
5.2.3.1Growing demand for iris recognition technology from healthcare industry58
5.2.3.2Rising penetration of biometric technologies into automotive and aerospace & defense verticals59
5.2.3.3Increasing use of iris recognition systems in banking & finance sector to prevent fraud59
5.2.3.4Integration of cloud computing with iris recognition technology60
5.2.4CHALLENGES60
FIGURE 24IRIS RECOGNITION MARKET: CHALLENGES AND THEIR IMPACT60
5.2.4.1Complexities in integrating iris recognition technology into conventional identification solutions60
5.3VALUE CHAIN ANALYSIS61
FIGURE 25IRIS RECOGNITION MARKET: VALUE CHAIN ANALYSIS61
5.4ECOSYSTEM ANALYSIS62
FIGURE 26IRIS RECOGNITION MARKET: ECOSYSTEM ANALYSIS62
TABLE 2COMPANIES AND THEIR ROLES IN IRIS RECOGNITION ECOSYSTEM63
5.5PRICING ANALYSIS64
5.5.1AVERAGE SELLING PRICE (ASP) OF VARIOUS IRIS RECOGNITION TECHNOLOGIES64
TABLE 3AVERAGE SELLING PRICE OF VARIOUS IRIS RECOGNITION HARDWARE COMPONENTS64
FIGURE 27AVERAGE SELLING PRICE OF IRIS SCANNERS OFFERED BY THREE KEY PLAYERS65
TABLE 4AVERAGE SELLING PRICE OF IRIS SCANNERS OFFERED BY THREE KEY PLAYERS (USD)65
5.6TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES65
5.6.1REVENUE SHIFT AND NEW REVENUE POCKETS FOR IRIS RECOGNITION TECHNOLOGY PROVIDERS66
FIGURE 28REVENUE SHIFT FOR IRIS RECOGNITION MARKET PLAYERS66
5.7TECHNOLOGY ANALYSIS66
5.7.1KEY TECHNOLOGY TRENDS66
5.7.2CLOUD-BASED IRIS RECOGNITION SYSTEM66
5.7.33D IRIS RECOGNITION67
5.7.4COMPLEMENTARY TECHNOLOGIES67
5.7.4.1Payment with iris recognition67
5.7.5ADJACENT TECHNOLOGIES67
5.7.5.1Integration of computer vision in iris recognition systems67

5.8PORTER’S FIVE FORCES ANALYSIS68
TABLE 5IRIS RECOGNITION MARKET: PORTER’S FIVE FORCES ANALYSIS68
FIGURE 29IRIS RECOGNITION MARKET: PORTER’S FIVE FORCES ANALYSIS68
5.8.1INTENSITY OF COMPETITIVE RIVALRY69
5.8.2BARGAINING POWER OF SUPPLIERS69
5.8.3BARGAINING POWER OF BUYERS69
5.8.4THREAT OF SUBSTITUTES69
5.8.5THREAT OF NEW ENTRANTS69
5.9KEY STAKEHOLDERS AND BUYING CRITERIA70
5.9.1KEY STAKEHOLDERS IN BUYING PROCESS70
FIGURE 30INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS
FOR TOP THREE END-USER INDUSTRIES70
TABLE 6INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS
FOR TOP THREE END-USER INDUSTRIES (%)70
5.9.2BUYING CRITERIA71
FIGURE 31KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES71
TABLE 7KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES71
5.10CASE STUDY ANALYSIS72
TABLE 8USE OF BIOMETRICS FOR FOOD DISTRIBUTION72
TABLE 9USE OF IRIS RECOGNITION FOR AUTO MALL SECURITY72
TABLE 10USE OF IRIS RECOGNITION FOR VERIFICATION OF UNIQUE IDENTIFICATION NUMBERS (UID) ISSUED TO ALL INDIAN CITIZENS73
TABLE 11USE OF MULTI-BIOMETRIC ENROLLMENT SYSTEM BY MEXICO TAX AGENCY73
5.11TRADE AND TARIFF ANALYSIS74
5.11.1TRADE ANALYSIS74
5.11.1.1Trade data for HS code 84716074
FIGURE 32IMPORT DATA, BY COUNTRY, 2017−2021 (USD MILLION)74
FIGURE 33EXPORT DATA, BY COUNTRY, 2017−2021 (USD MILLION)74
5.12PATENT ANALYSIS75
FIGURE 34COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS
IN LAST 10 YEARS75
TABLE 12TOP 20 PATENT OWNERS IN LAST 10 YEARS75
FIGURE 35NUMBER OF PATENTS GRANTED, 2011−202276
5.12.1PATENT ANALYSIS76
TABLE 13MAJOR PATENTS RELATED TO IRIS RECOGNITION MARKET76
5.13KEY CONFERENCES AND EVENTS, 2022–202379
TABLE 14IRIS RECOGNITION MARKET: DETAILED LIST OF KEY CONFERENCES AND EVENTS79
5.14REGULATORY LANDSCAPE81
5.14.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS RELATED TO IRIS RECOGNITION MARKET81
TABLE 15NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS81
TABLE 16EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS82
TABLE 17ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS82
TABLE 18ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS82
5.14.2STANDARDS AND REGULATIONS RELATED TO IRIS RECOGNITION MARKET83
TABLE 19NORTH AMERICA: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET83
TABLE 20EUROPE: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET83
TABLE 21ASIA PACIFIC: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET84
TABLE 22ROW: SAFETY STANDARDS FOR IRIS RECOGNITION MARKET84
6IRIS RECOGNITION MARKET, BY COMPONENT85
6.1INTRODUCTION86
FIGURE 36IRIS RECOGNITION MARKET, BY COMPONENT86
FIGURE 37SOFTWARE SEGMENT TO CONTINUE TO HOLD LARGER SHARE OF IRIS RECOGNITION MARKET DURING FORECAST PERIOD86
TABLE 23IRIS RECOGNITION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)87
TABLE 24IRIS RECOGNITION MARKET, BY COMPONENT, 2022–2027 (USD MILLION)87
6.2HARDWARE87
TABLE 25HARDWARE: IRIS RECOGNITION MARKET, BY PRODUCT,
2018–2021 (USD MILLION)88
TABLE 26HARDWARE: IRIS RECOGNITION MARKET, BY PRODUCT,
2022–2027 (USD MILLION)88
TABLE 27HARDWARE: IRIS RECOGNITION MARKET, BY HARDWARE TYPE,
2018–2021 (USD MILLION)88
TABLE 28HARDWARE: IRIS RECOGNITION MARKET, BY HARDWARE TYPE,
2022–2027 (USD MILLION)89
TABLE 29HARDWARE: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)89
TABLE 30HARDWARE: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)89
6.2.1CAMERAS90
6.2.1.1Rising demand for identity management and access control90
6.2.2SENSORS90
6.2.2.1Growing development of new technology-based sensors for biometric applications in consumer electronics devices90
6.2.3IMAGE PROCESSORS90
6.2.3.1Surging demand in high-volume server applications that run on server hardware90
6.2.4INTEGRATED DEVICES91
6.2.4.1Increasing demand for Wi-Fi-enabled iris devices for various applications91

6.3SOFTWARE91
TABLE 31SOFTWARE: IRIS RECOGNITION MARKET, BY PRODUCT,
2018–2021 (USD MILLION)91
TABLE 32SOFTWARE: IRIS RECOGNITION MARKET, BY PRODUCT,
2022–2027 (USD MILLION)92
TABLE 33SOFTWARE: IRIS RECOGNITION MARKET, BY SOFTWARE TYPE,
2018–2021 (USD MILLION)92
TABLE 34SOFTWARE: IRIS RECOGNITION MARKET, BY SOFTWARE TYPE,
2022–2027 (USD MILLION)92
TABLE 35SOFTWARE: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)93
TABLE 36SOFTWARE: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)93
6.3.1IRIS RECOGNITION SOFTWARE & SDK93
6.3.1.1Prominent presence of various major players93
6.3.2DATABASE93
6.3.2.1Surging demand for databases in various verticals93
6.3.3ANALYTICS SOLUTION94
6.3.3.1Growing deployment of combinations of business analytics software94
6.3.4OTHERS94
7IRIS RECOGNITION MARKET, BY PRODUCT95
7.1INTRODUCTION96
FIGURE 38IRIS RECOGNITION MARKET, BY PRODUCT96
FIGURE 39SCANNERS TO CONTINUE TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET DURING FORECAST PERIOD96
TABLE 37IRIS RECOGNITION MARKET, BY PRODUCT, 2018–2021 (USD MILLION)97
TABLE 38IRIS RECOGNITION MARKET, BY PRODUCT, 2022–2027 (USD MILLION)97
7.2SMARTPHONES98
7.2.1RISING PENETRATION OF BIOMETRIC TECHNOLOGIES IN SMARTPHONES TO BOOST MARKET98
TABLE 39SMARTPHONES: IRIS RECOGNITION MARKET, BY COMPONENT,
2018–2021 (USD MILLION)98
TABLE 40SMARTPHONES: IRIS RECOGNITION MARKET, BY COMPONENT,
2022–2027 (USD MILLION)98
TABLE 41SMARTPHONES: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)99
TABLE 42SMARTPHONES: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)99
7.3WEARABLES99
7.3.1INCREASING USE OF IRIS RECOGNITION IN SMARTWATCHES TO DRIVE MARKET99
TABLE 43WEARABLES: IRIS RECOGNITION MARKET, BY COMPONENT,
2018–2021 (USD MILLION)100
TABLE 44WEARABLES: IRIS RECOGNITION MARKET, BY COMPONENT,
2022–2027 (USD MILLION)100
TABLE 45WEARABLES: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)100
TABLE 46WEARABLES: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)100
7.4TABLETS & NOTEBOOKS101
7.4.1DEVELOPMENTS OF TABLETS WITH IRIS SCANNER TO POSITIVELY IMPACT MARKET FOR TABLETS & NOTEBOOKS101
TABLE 47TABLETS & NOTEBOOKS: IRIS RECOGNITION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)101
TABLE 48TABLETS & NOTEBOOKS: IRIS RECOGNITION MARKET, BY COMPONENT, 2022–2027 (USD MILLION)101
TABLE 49TABLETS & NOTEBOOKS: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)102
TABLE 50TABLETS & NOTEBOOKS: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)102
7.5PERSONAL COMPUTERS/LAPTOPS102
7.5.1SURGING ADOPTION OF IDENTITY MANAGEMENT SOLUTIONS BY GOVERNMENT AND TRAVEL AGENCIES TO PROPEL MARKET GROWTH102
TABLE 51PERSONAL COMPUTERS/LAPTOPS: IRIS RECOGNITION MARKET,
BY COMPONENT, 2018–2021 (USD MILLION)103
TABLE 52PERSONAL COMPUTERS/LAPTOPS: IRIS RECOGNITION MARKET,
BY COMPONENT, 2022–2027 (USD MILLION)103
TABLE 53PERSONAL COMPUTERS/LAPTOPS: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)103
TABLE 54PERSONAL COMPUTERS/LAPTOPS: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)104
7.6SCANNERS104
7.6.1INCREASING DEMAND FOR IRIS RECOGNITION SCANNERS IN GOVERNMENT VERTICAL TO DRIVE MARKET104
TABLE 55SCANNERS: IRIS RECOGNITION MARKET, BY COMPONENT,
2018–2021 (USD MILLION)104
TABLE 56SCANNERS: IRIS RECOGNITION MARKET, BY COMPONENT,
2022–2027 (USD MILLION)105
TABLE 57SCANNERS: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)105
TABLE 58SCANNERS: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)105
8IRIS RECOGNITION MARKET, BY APPLICATION106
8.1INTRODUCTION107
FIGURE 40IRIS RECOGNITION MARKET, BY APPLICATION107
FIGURE 41IDENTITY MANAGEMENT AND ACCESS CONTROL APPLICATIONS TO CONTINUE TO DOMINATE IRIS RECOGNITION MARKET, IN TERMS OF SIZE, DURING FORECAST PERIOD107
TABLE 59IRIS RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)108
TABLE 60IRIS RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)108

8.2IDENTITY MANAGEMENT AND ACCESS CONTROL108
TABLE 61IDENTITY MANAGEMENT AND ACCESS CONTROL: IRIS RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)109
TABLE 62IDENTITY MANAGEMENT AND ACCESS CONTROL: IRIS RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)109
TABLE 63IDENTITY MANAGEMENT AND ACCESS CONTROL: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)110
TABLE 64IDENTITY MANAGEMENT AND ACCESS CONTROL: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)110
8.3TIME MONITORING110
8.3.1INTEGRATION OF IRIS RECOGNITION TECHNOLOGY INTO TIME AND ATTENDANCE MANAGEMENT SYSTEMS TO SUPPORT MARKET GROWTH110
TABLE 65TIME MONITORING APPLICATION: IRIS RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)111
TABLE 66TIME MONITORING: IRIS RECOGNITION MARKET, BY VERTICAL,
2022–2027 (USD MILLION)111
TABLE 67TIME MONITORING: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)112
TABLE 68TIME MONITORING: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)112
8.4E-PAYMENT112
8.4.1RISING CONSUMER PREFERENCE FOR CASHLESS PAYMENTS TO DRIVE MARKET112
TABLE 69E-PAYMENT: IRIS RECOGNITION MARKET, BY VERTICAL,
2018–2021 (USD MILLION)113
TABLE 70E-PAYMENT: IRIS RECOGNITION MARKET, BY VERTICAL,
2022–2027 (USD MILLION)113
TABLE 71E-PAYMENT: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)114
TABLE 72E-PAYMENT: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)114
9IRIS RECOGNITION MARKET, BY VERTICAL115
9.1INTRODUCTION116
FIGURE 42IRIS RECOGNITION MARKET, BY VERTICAL116
FIGURE 43HEALTHCARE VERTICAL TO EXHIBIT HIGHEST CAGR IN IRIS RECOGNITION MARKET DURING FORECAST PERIOD117
TABLE 73IRIS RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)117
TABLE 74IRIS RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)118
9.2GOVERNMENT118
9.2.1INCREASING GOVERNMENT INITIATIVES FOR PUBLIC SAFETY TO BOOST DEMAND FOR BIOMETRICS SOLUTIONS118
FIGURE 44NORTH AMERICA TO HOLD LARGEST SHARE OF MARKET FOR GOVERNMENT VERTICAL THROUGHOUT FORECAST PERIOD119
TABLE 75GOVERNMENT: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)119
TABLE 76GOVERNMENT: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)120
TABLE 77GOVERNMENT: IRIS RECOGNITION MARKET, BY APPLICATION,
2018–2021 (USD MILLION)120
TABLE 78GOVERNMENT: IRIS RECOGNITION MARKET, BY APPLICATION,
2022–2027 (USD MILLION)120
9.3MILITARY & DEFENSE121
9.3.1CONCERNS REGARDING NATIONAL SECURITY, SECURITY OF ARMED FORCES, AND MONITORING OF INDIVIDUALS TO FUEL DEMAND FOR IRIS RECOGNITION TECHNOLOGY121
FIGURE 45MILITARY & DEFENSE VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD121
TABLE 79MILITARY & DEFENSE: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)122
TABLE 80MILITARY & DEFENSE: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)122
TABLE 81MILITARY & DEFENSE: IRIS RECOGNITION MARKET, BY APPLICATION,
2018–2021 (USD MILLION)122
TABLE 82MILITARY & DEFENSE: IRIS RECOGNITION MARKET, BY APPLICATION,
2022–2027 (USD MILLION)123
9.4HEALTHCARE123
9.4.1RISING ADOPTION OF BIOMETRICS IN PATIENT IDENTIFICATION, PATIENT SECURITY, AND STAFF ATTENDANCE TRACKING APPLICATIONS TO PUSH MARKET GROWTH123
FIGURE 46HEALTHCARE VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD124
TABLE 83HEALTHCARE: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)124
TABLE 84HEALTHCARE: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)124
TABLE 85HEALTHCARE: IRIS RECOGNITION MARKET, BY APPLICATION,
2018–2021 (USD MILLION)125
TABLE 86HEALTHCARE: IRIS RECOGNITION MARKET, BY APPLICATION,
2022–2027 (USD MILLION)125
9.5BANKING & FINANCE125
9.5.1UTILIZATION OF IRIS RECOGNITION SYSTEMS TO ADDRESS SECURITY CHALLENGES TO FOSTER MARKET GROWTH125
FIGURE 47BANKING & FINANCE VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD126
TABLE 87BANKING & FINANCE: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)126
TABLE 88BANKING & FINANCE: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)126
TABLE 89BANKING & FINANCE: IRIS RECOGNITION MARKET, BY APPLICATION,
2018–2021 (USD MILLION)127
TABLE 90BANKING & FINANCE: IRIS RECOGNITION MARKET, BY APPLICATION,
2022–2027 (USD MILLION)127
9.6CONSUMER ELECTRONICS127
9.6.1INCREASING DEPLOYMENT OF IRIS RECOGNITION TECHNOLOGY IN LAPTOPS TO ACCELERATE MARKET GROWTH127
FIGURE 48CONSUMER ELECTRONICS VERTICAL IN ASIA PACIFIC TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD128
TABLE 91CONSUMER ELECTRONICS: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)128
TABLE 92CONSUMER ELECTRONICS: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)129
TABLE 93CONSUMER ELECTRONICS: IRIS RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)129
TABLE 94CONSUMER ELECTRONICS: IRIS RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)129
9.7TRAVEL & IMMIGRATION130
9.7.1INCREASING PENETRATION OF E-PASSPORT PROGRAMS WORLDWIDE TO WIDEN SCOPE OF IRIS RECOGNITION TECHNOLOGY130
FIGURE 49TRAVEL AND IMMIGRATION VERTICAL IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD130
TABLE 95TRAVEL AND IMMIGRATION: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)131
TABLE 96TRAVEL AND IMMIGRATION: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)131
TABLE 97TRAVEL AND IMMIGRATION: IRIS RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)131
TABLE 98TRAVEL AND IMMIGRATION: IRIS RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)132
9.8AUTOMOTIVE132
9.8.1EUROPE TO CONTINUE TO HOLD LARGEST SIZE OF IRIS RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL DURING FORECAST PERIOD132
FIGURE 50AUTOMOTIVE VERTICAL IN EUROPE TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD133
TABLE 99AUTOMOTIVE: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)133
TABLE 100AUTOMOTIVE: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)133
TABLE 101AUTOMOTIVE: IRIS RECOGNITION MARKET, BY APPLICATION,
2018–2021 (USD MILLION)134
TABLE 102AUTOMOTIVE: IRIS RECOGNITION MARKET, BY APPLICATION,
2022–2027 (USD MILLION)134
9.9OTHERS134
FIGURE 51OTHER VERTICALS IN NORTH AMERICA TO MAINTAIN LARGEST MARKET SHARE DURING FORECAST PERIOD134
TABLE 103OTHERS: IRIS RECOGNITION MARKET, BY REGION,
2018–2021 (USD MILLION)135
TABLE 104OTHERS: IRIS RECOGNITION MARKET, BY REGION,
2022–2027 (USD MILLION)135
TABLE 105OTHERS: IRIS RECOGNITION MARKET, BY APPLICATION,
2018–2021 (USD MILLION)135
TABLE 106OTHERS: IRIS RECOGNITION MARKET, BY APPLICATION,
2022–2027 (USD MILLION)136

10GEOGRAPHIC ANALYSIS137
10.1INTRODUCTION138
FIGURE 52IRIS RECOGNITION MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD138
FIGURE 53IRIS RECOGNITION MARKET, BY REGION139
TABLE 107IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)139
TABLE 108IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)139
10.2NORTH AMERICA140
FIGURE 54NORTH AMERICA: IRIS RECOGNITION MARKET SNAPSHOT141
FIGURE 55US TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN NORTH AMERICA IN 2027141
TABLE 109NORTH AMERICA: IRIS RECOGNITION MARKET, BY COUNTRY,
2018–2021 (USD MILLION)142
TABLE 110NORTH AMERICA: IRIS RECOGNITION MARKET, BY COUNTRY,
2022–2027 (USD MILLION)142
TABLE 111NORTH AMERICA: IRIS RECOGNITION MARKET, BY VERTICAL,
2018–2021 (USD MILLION)142
TABLE 112NORTH AMERICA: IRIS RECOGNITION MARKET, BY VERTICAL,
2022–2027 (USD MILLION)143
TABLE 113NORTH AMERICA: IRIS RECOGNITION MARKET, BY PRODUCT,
2018–2021 (USD MILLION)143
TABLE 114NORTH AMERICA: IRIS RECOGNITION MARKET, BY PRODUCT,
2022–2027 (USD MILLION)143
10.2.1US144
10.2.1.1Increasing concerns regarding national security, crime, and terrorism to augment demand for iris recognition144
10.2.2CANADA144
10.2.2.1Rising demand for iris recognition systems in government, and travel and immigration verticals to drive market144
10.2.3MEXICO144
10.2.3.1Growing need for safety and security in various verticals to boost market growth144
10.3EUROPE145
FIGURE 56EUROPE: IRIS RECOGNITION MARKET SNAPSHOT146
FIGURE 57GERMANY TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN EUROPE IN 2027146
TABLE 115EUROPE: IRIS RECOGNITION MARKET, BY COUNTRY,
2018–2021 (USD MILLION)147
TABLE 116EUROPE: IRIS RECOGNITION MARKET, BY COUNTRY,
2022–2027 (USD MILLION)147
TABLE 117EUROPE: IRIS RECOGNITION MARKET, BY VERTICAL,
2018–2021 (USD MILLION)147
TABLE 118EUROPE: IRIS RECOGNITION MARKET, BY VERTICAL,
2022–2027 (USD MILLION)148
TABLE 119EUROPE: IRIS RECOGNITION MARKET, BY PRODUCT,
2018–2021 (USD MILLION)148
TABLE 120EUROPE: IRIS RECOGNITION MARKET, BY PRODUCT,
2022–2027 (USD MILLION)148
10.3.1GERMANY149
10.3.1.1Increasing adoption of biometric technology by government and travel and immigration149
10.3.2ITALY149
10.3.2.1Rapid deployment of iris recognition by government vertical149
10.3.3FRANCE149
10.3.3.1Rising inter-country political disputes to boost demand149
10.3.4UK150
10.3.4.1Growing initiatives by government such as Iris Recognition Immigration System150
10.3.5REST OF EUROPE150
10.4ASIA PACIFIC151
FIGURE 58ASIA PACIFIC: IRIS RECOGNITION MARKET SNAPSHOT152
FIGURE 59CHINA TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN
ASIA PACIFIC IN 2027152
TABLE 121ASIA PACIFIC: IRIS RECOGNITION MARKET, BY COUNTRY,
2018–2021 (USD MILLION)153
TABLE 122ASIA PACIFIC: IRIS RECOGNITION MARKET, BY COUNTRY,
2022–2027 (USD MILLION)153
TABLE 123ASIA PACIFIC: IRIS RECOGNITION MARKET, BY VERTICAL,
2018–2021 (USD MILLION)153
TABLE 124ASIA PACIFIC: IRIS RECOGNITION MARKET, BY VERTICAL,
2022–2027 (USD MILLION)154
TABLE 125ASIA PACIFIC: IRIS RECOGNITION MARKET, BY PRODUCT,
2018–2021 (USD MILLION)154
TABLE 126ASIA PACIFIC: IRIS RECOGNITION MARKET, BY PRODUCT,
2022–2027 (USD MILLION)154
10.4.1CHINA155
10.4.1.1Presence of manufacturing plants of several leading providers of consumer electronics to drive market155
10.4.2SOUTH KOREA155
10.4.2.1Thriving consumer electronics industry to propel market growth155
10.4.3JAPAN156
10.4.3.1Increasing security concerns to drive market growth156
10.4.4INDIA156
10.4.4.1Growing focus of government to provide advanced and upgraded services to citizens to accelerate market growth156
10.4.5REST OF ASIA PACIFIC156
10.5ROW157
FIGURE 60ROW: IRIS RECOGNITION MARKET SNAPSHOT157
FIGURE 61MIDDLE EAST TO HOLD LARGEST SHARE OF IRIS RECOGNITION MARKET IN ROW IN 2027158
TABLE 127ROW: IRIS RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)158
TABLE 128ROW: IRIS RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)158
TABLE 129ROW: IRIS RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)159
TABLE 130ROW: IRIS RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)159
TABLE 131ROW: IRIS RECOGNITION MARKET, BY PRODUCT, 2018–2021 (USD MILLION)160
TABLE 132ROW: IRIS RECOGNITION MARKET, BY PRODUCT, 2022–2027 (USD MILLION)160
10.5.1MIDDLE EAST & AFRICA160
10.5.1.1Increasing government support to automate border-crossing processes160
10.5.2AFRICA161
10.5.2.1Growing investments in automation and AI technologies161
10.5.3SOUTH AMERICA161
10.5.3.1Rising security spending, cybercrimes, and face & iris recognition adoption in airports161
11COMPETITIVE LANDSCAPE162
11.1INTRODUCTION162
11.2STRATEGIES ADOPTED BY KEY PLAYERS/RIGHT TO WIN162
TABLE 133OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN
IRIS RECOGNITION MARKET162
11.2.1PRODUCT PORTFOLIO163
11.2.2REGIONAL FOCUS163
11.2.3ORGANIC/INORGANIC GROWTH STRATEGIES163
11.3MARKET SHARE ANALYSIS, 2021164
TABLE 134IRIS RECOGNITION MARKET: DEGREE OF COMPETITION164
11.4REVENUE ANALYSIS OF TOP PLAYERS IN IRIS RECOGNITION MARKET166
FIGURE 62FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN
IRIS RECOGNITION MARKET166
11.5COMPANY EVALUATION QUADRANT167
11.5.1STARS167
11.5.2PERVASIVE PLAYERS167
11.5.3EMERGING LEADERS167
11.5.4PARTICIPANTS167
FIGURE 63IRIS RECOGNITION MARKET: COMPANY EVALUATION QUADRANT, 2021168
11.6STARTUP/SME EVALUATION QUADRANT168
11.6.1PROGRESSIVE COMPANIES168
11.6.2RESPONSIVE COMPANIES168
11.6.3DYNAMIC COMPANIES169
11.6.4STARTING BLOCKS169
FIGURE 64IRIS RECOGNITION MARKET (GLOBAL):
STARTUP/SME EVALUATION QUADRANT, 2021169
11.7COMPANY FOOTPRINT170
TABLE 135COMPANY FOOTPRINT170
TABLE 136COMPONENT FOOTPRINT OF COMPANIES171
TABLE 137APPLICATION FOOTPRINT OF COMPANIES171
TABLE 138PRODUCT FOOTPRINT OF COMPANIES172
TABLE 139VERTICAL FOOTPRINT OF COMPANIES173
TABLE 140REGIONAL FOOTPRINT OF COMPANIES173
11.8COMPETITIVE BENCHMARKING174
TABLE 141IRIS RECOGNITION MARKET: DETAILED LIST OF KEY STARTUPS/SMES174
TABLE 142IRIS RECOGNITION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES175
11.9COMPETITIVE SCENARIOS AND TRENDS176
11.9.1PRODUCT LAUNCHES176
TABLE 143IRIS RECOGNITION MARKET: PRODUCT LAUNCHES,
JANUARY 2018–MAY 2022176
11.9.2DEALS177
TABLE 144IRIS RECOGNITION MARKET: DEALS, JANUARY 2018–MAY 2022177
12COMPANY PROFILES179
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1KEY PLAYERS179
12.1.1THALES179
TABLE 145THALES: COMPANY OVERVIEW179
FIGURE 65THALES: COMPANY SNAPSHOT180
12.1.2IDEMIA183
TABLE 146IDEMIA: BUSINESS OVERVIEW183
FIGURE 66IDEMIA: COMPANY SNAPSHOT184
12.1.3HID GLOBAL CORPORATION186
TABLE 147HID GLOBAL CORPORATION: BUSINESS OVERVIEW186
12.1.4EYELOCK LLC189
TABLE 148EYELOCK LLC: BUSINESS OVERVIEW189
12.1.5NEC CORPORATION193
TABLE 149NEC CORPORATION: BUSINESS OVERVIEW193
FIGURE 67NEC CORPORATION: COMPANY SNAPSHOT194
12.1.6IRITECH, INC.197
TABLE 150IRITECH, INC.: BUSINESS OVERVIEW197
12.1.7IRISGUARD LTD.200
TABLE 151IRISGUARD LTD: BUSINESS OVERVIEW200
12.1.8IRIS ID, INC.202
TABLE 152IRIS ID, INC.: BUSINESS OVERVIEW202
12.1.9PRINCETON IDENTITY204
TABLE 153PRINCETON IDENTITY: BUSINESS OVERVIEW204
TABLE 154PRINCETON IDENTITY: PRODUCT LAUNCHES205
12.1.10CMI TECH207
TABLE 155CMI TECH: BUSINESS OVERVIEW207
12.1.11UNISYS CORPORATION209
TABLE 156UNISYS CORPORATION: BUSINESS OVERVIEW209
TABLE 157UNISYS CORPORATION: PRODUCT LAUNCHES210
12.2OTHER PLAYERS211
12.2.1BIOENABLE TECHNOLOGIES211
12.2.24G IDENTITY SOLUTIONS212
12.2.3BI² TECHNOLOGIES212
12.2.4MANTRA SOFTECH213
12.2.5AWARE, INC.214
12.2.6NEUROTECHNOLOGY215
12.2.7DERMALOG IDENTIFICATION SYSTEMS216
12.2.8BIOID217
12.2.9SRI INTERNATIONAL218
12.2.10M2SYS TECHNOLOGY219
12.2.11TASCENT220
12.2.12ADITECH LTD221
12.2.13BIOLINK SOLUTIONS222
12.2.14SHANGHAI PIXSUR SMART TECHNOLOGY CO., LTD.223
12.2.15ANVIZ GLOBAL INC.223
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13APPENDIX224
13.1INSIGHTS OF INDUSTRY EXPERTS224
13.2DISCUSSION GUIDE225
13.3KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL227
13.4CUSTOMIZATION OPTIONS229
13.5RELATED REPORTS229
13.6AUTHOR DETAILS230

Report Title: Iris Recognition Market by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical and Region - Global Forecast to 2027


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