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 smartphone & tablet sub-segment is growing with the fastest growth rate of 12.6% during the projected era with extensive implementation in the smartphone industry, owing to the incorporation of the iris scanners in the smartphones for their higher accuracy & precision in the multimodal multiple biometrics three-dimensional sensing system that drastically reduces the chances of replication or duplicity. 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 rising demand for the Iris Recognition products is expected to drive the demand for Iris Recognition , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market. The globally-disrupting incidence has impacted nearly every aspect of this business domain. However, the latest study expounds on the present market scenario and forecasts the pandemic’s aftermath, with respect to this industry.
Iris Recognition Market Size – USD 2.26 billion in 2019, Market Growth - CAGR of 12.6%, Market Trends – Higher usage of iris recognition system (IRS) in government biometric portfolio. The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19 preparedness. The market intelligence report takes a closer view of the global market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines the Iris Recognition market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Iris Recognition industry.
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The global market landscape of iris recognition market is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.
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.
Its panoramic view of the Iris Recognition industry entails useful insights into the estimated Iris Recognition market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future.
Product Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Iris Scanners
Smartphone & Tablets
Wearable Gadgets
Others
Application Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Identity management and Access Control
Time Monitoring
E-Payment
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
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Regional Overview:
The global Iris Recognition market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Iris Recognition market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Overview of the Iris Recognition Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Market Taxonomy:
Chapter 1: Methodology & Scopes
Chapter 2:
Executive Summary
Chapter 3:
Industry Insights
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
Read More:https://www.emergenresearch.com/industry-report/iris-recognition-market
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