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Iris Biometrics Global Market Report 2023: Cloud Solutions Boost Adoption of Iris Recognition Technologies

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Global Market for Iris Biometrics

Global Market for Iris Biometrics
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) -

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  • 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

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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