NEW YORK, Aug. 4, 2021 /PRNewswire/ -- Set to grow by USD 2.08 billion during 2020-2024, Technavio's latest market research report estimates the iris recognition market to register a CAGR of over 23%. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aware Inc., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, Safran SA, Thales Group, and BioEnable Technologies Pvt. Ltd. are some of the major market participants. Although the growing need to reduce identity duplication will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Iris Recognition Market 2020-2024: Vendor Analysis and Scope
Some of the major vendors of the iris recognition market in the communications equipment industry include Aware Inc., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, Safran SA, Thales Group, and BioEnable Technologies Pvt. Ltd. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market.
The report also covers the following areas:
Iris Recognition Market size
Iris Recognition Market trends
Iris Recognition Market industry analysis
The iris recognition market is fragmented, and the degree of fragmentation will accelerate. The increased adoption of iris recognition in the government sector will offer immense growth opportunities. However, the vulnerability of biometrics systems will hamper market growth.
Backed with competitive intelligence and benchmarking, our research report on the iris recognition market is designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
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Iris Recognition Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist iris recognition market growth during the next five years
Estimation of the iris recognition market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the iris recognition market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of iris recognition market vendors
Table of Contents:
Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by End-user
Comparison by End-user
Government - Market size and forecast 2019-2024
Transportation - Market size and forecast 2019-2024
Healthcare - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by End-user
APAC - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
North America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Drivers, Challenges, and Trends
Volume driver - Demand led growth
Volume driver - Supply led growth
Volume driver - External factors
Volume driver - Demand shift in adjacent markets
Price driver - Inflation
Price driver - Shift from lower to higher priced units
Market positioning of vendors
BioEnable Technologies Pvt. Ltd.
Honeywell International Inc.
Iris ID Systems Inc.
IrisGuard UK Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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