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Iris Biometrics Global Market Report 2023: Cloud Solutions Boost Adoption of Iris Recognition Technologies
Global Market for Iris Biometrics
Dublin, March 01, 2023 (GLOBE NEWSWIRE) -- The "Iris Biometrics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Iris Biometrics Market to Reach $6.7 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Iris Biometrics estimated at US$2.8 Billion in the year 2022, is projected to reach a revised size of US$6.7 Billion by 2030, growing at a CAGR of 11.8% over the analysis period 2022-2030. Hardware, one of the segments analyzed in the report, is projected to record 10% CAGR and reach US$2.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 12.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $738.7 Million, While China is Forecast to Grow at 14.7% CAGR
The Iris Biometrics market in the U.S. is estimated at US$738.7 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 14.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.8% and 10.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
Select Competitors (Total 40 Featured) -
Aditech Ltd.
Anviz Global, Inc.
Aware, Inc.
BioEnable Technologies Pvt. Ltd
EyeLock Corp.
HID Global Corporation
IDEMIA
Iris ID Systems, Inc.
IrisGuard, Inc.
IriTech, Inc.
NEC Corporation
Princeton Identity, Inc.
SRI International, Inc.
Thales Group
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Report Attribute | Details |
No. of Pages | 389 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $2.8 Billion |
Forecasted Market Value (USD) by 2030 | $6.7 Billion |
Compound Annual Growth Rate | 11.5% |
Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Cloud Solutions Boost Adoption of Iris Recognition Technologies
Blockchain & Iris Recognition Opens Opportunities for Identity Verification in Various Industries
Border Control & Immigration Emerges as a Promising Market for Biometric Systems
Rising Prominence of Iris Biometrics for Travel & Immigration Control
National ID Programs Build Opportunities for Iris Biometric Systems
Penetration of Iris Technology in Consumer Electronics Continues to Grow
Rising Adoption of Biometrics in Mobile Devices Augur Well for Iris Recognition Market: Percentage of Devices Sold with Biometric Technologies for 2016-2020
Growing Role of Biometrics in Addressing Fraud and Security Breaches to Propel Use of Iris Recognition Technology in BFSI Industry
Iris Biometrics Poised for Strong Growth in BFSI Sector
Rise in Internet and Mobile Banking: A Business Case for Iris Recognition Market
Biometrics-based Authentication at ATMs on Rise
Rise in ATM Installations Presents Opportunity for Iris Biometrics
Demand for Iris Biometric Systems Rises from Law Enforcement Agencies
Prisons & Detention Centers Bank on Iris Biometrics
Automobile Industry: A New Growth Avenue
Iris Biometrics Poised for a Larger Role in Airport Sector
Aviation Industry Hard Hit by COVID-19 Pandemic: YoY % Change in RPKs and ASKs by Region for June 2020
Iris Recognition to Expedite Check In and Boarding at Airports
Healthcare Emerges as a High Growth Market for Iris Biometrics
Hygiene Concerns Amidst the COVID-19 Pandemic Create Business Case for Iris Biometrics
Iris Biometrics Well Suited to Mitigate Hospital Patient Identification Issues
Physical Access Control Implementations: A Notable Application of Iris Biometric Technology
System & Network Access Control Presents Considerable Market Opportunity
Use of Iris Biometrics for Attendance & Workforce Management to Grow in Prominence
Iris Biometrics Set to Leverage Campus/University Applications
E-Commerce Sector Presents Significant Opportunity for Iris Recognition Technology
Technology Integration Gives Rise to Multi-Modal Applications
Technology Developments to Transform the Iris Biometrics Market
Advanced Hand Held Devices to Bring Portability to Iris Biometrics
Key Issues Facing the Iris Biometrics Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
A selection of companies mentioned in this report includes
Aditech Ltd.
Anviz Global, Inc.
Aware, Inc.
BioEnable Technologies Pvt. Ltd
EyeLock Corp.
HID Global Corporation
IDEMIA
Iris ID Systems, Inc.
IrisGuard, Inc.
IriTech, Inc.
NEC Corporation
Princeton Identity, Inc.
SRI International, Inc.
Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/5mr2mm
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