USD 1.33 Bn growth in Iris Recognition Market 2021-2025 | Increased Adoption of Iris Recognition in Government Sector to Boost Growth | Technavio
NEW YORK, Oct. 19, 2021 /PRNewswire/ -- The "Iris Recognition Market by End-user (Government, Transportation, Healthcare, and Others) and Geography (APAC, North America, Europe, South America, and MEA) - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the iris recognition market between 2021 and 2025 is USD 1.33 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The increased adoption of iris recognition in the government sector and the need for advanced security are some of the key market drivers. However, factors such as high costs will challenge market growth.
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The iris recognition market report is segmented by End-user (Government, Transportation, Healthcare, and Others) and Geography (APAC, North America, Europe, South America, and MEA). APAC will be the leading region with 40% of the market's growth during the forecast period. South Korea (Republic of Korea), and China are the key markets for the iris recognition market in APAC.
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Companies Mentioned with their Offerings
- Aware Inc.: The company offers SDK for iris recognition and authentication under the brand name Nexa|Iris.
- BioEnable Technologies Pvt. Ltd.: The company provides Iris Scanner Recognition Solutions under the brand name EF-45, IrisOne, and others.
- EyeLock LLC
- Honeywell International Inc.
- Iris ID Systems Inc.
- Gain access to more vendor profiles with their key offerings available with Technavio, Click Here.
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Iris Recognition Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Decelerate at a CAGR of over 16% |
Market growth 2021-2025 | USD 1.33 billion |
Market structure | Fragmented |
YoY growth (%) | 18.97 |
Regional analysis | APAC, North America, Europe, South America, and MEA |
Performing market contribution | APAC at 40% |
Key consumer countries | US, China, UK, South Korea (Republic of Korea), and Germany |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Aware Inc., BioEnable Technologies Pvt. Ltd., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, and Thales Group |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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