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Iris Recognition Market 2023: Industry Insight, Drivers, Trends, Global Analysis and Forecast by 2028

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The latest report published by IMARC Group, titled “Iris Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on iris recognition market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global iris recognition market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2028, exhibiting a growth rate (CAGR) of 19.8% during 2023-2028.

Iris recognition is a biometric technology that involves the identification and authentication of individuals based on the unique patterns found in their iris, the colored part of the eye surrounding the pupil. Each person’s iris possesses distinctive features, such as intricate patterns, crypts, furrows, and colors, that remain stable over time and are highly unlikely to be duplicated. Iris recognition technology finds applications in various fields, most notably in biometric security and identity management. It offers a high level of accuracy and security, making it a valuable tool for access control, border security, and identity verification at airports, government facilities, and other sensitive locations. Since the iris is protected within the eye and less susceptible to changes due to aging or external factors, iris recognition systems are known for their reliability and resistance to spoofing.

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Market Trends:

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The escalating need for enhanced security measures in various sectors, ranging from government agencies and financial institutions to healthcare facilities and private enterprises, is driving the global market. Iris recognition technology offers an unparalleled level of accuracy and reliability in identity verification, significantly mitigating risks associated with unauthorized access and identity fraud. The increasing adoption of digital platforms, mobile devices, and online services has further fueled the demand for secure and convenient authentication methods. Iris recognition stands out as a biometric solution that combines security with user convenience, eliminating the need for passwords or PINs while ensuring that only authorized individuals gain access to sensitive information or locations. Additionally, the non-intrusive nature of iris scanning appeals to privacy-conscious individuals who are reluctant to share other biometric data.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/iris-recognition-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • BioEnable Technologies Pvt. Ltd.
  • EyeLock LLC
  • HID Global Corporation (Assa Abloy AB)
  • Iris ID Inc
  • IrisGuard UK Ltd
  • Iritech Inc.
  • M2SYS Technology
  • SRI International
  • Thales Group

Iris Recognition Market Segmentation:

Our report has categorized the market based on region, component, product integration and end-user.

Breakup by Component:

  • Hardware
  • Software

Breakup by Product Integration:

  • Smartphone
  • Tablet and Notebook
  • Scanner
  • PC/Laptop
  • Smartwatches
  • Others

Breakup by End-User:

  • Government
  • Transportation
  • Healthcare
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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