LONDON–(BUSINESS WIRE)–The iris recognition market is expected to grow by $ 2.08 bn, progressing at a CAGR of over 23% during the forecast period.
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The growing need to reduce identity duplication is one of the major factors propelling the market growth. However, factors such as the vulnerability of biometrics systems will hamper market growth.
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Iris Recognition Market: End-user Landscape
Based on the end-user, the government segment is expected to witness lucrative growth during the forecast period.
Iris Recognition Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 39% of the market’s overall growth is expected to originate from APAC. The increased adoption of iris recognition in the government sector will significantly influence the Iris recognition market’s growth in this region.
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Companies Covered:
- Aware Inc.
- BioEnable Technologies Pvt. Ltd.
- EyeLock LLC
- Honeywell International Inc.
- Iris ID Systems Inc.
- IrisGuard UK Ltd.
- IRITECH INC.
- M2SYS Technology
- Safran SA
- Thales Group
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- 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 condition
Market Segmentation by End-user
- Market segments
- 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
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- 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
- Market drivers
- 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 challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Aware Inc.
- BioEnable Technologies Pvt. Ltd.
- EyeLock LLC
- Honeywell International Inc.
- Iris ID Systems Inc.
- IrisGuard UK Ltd.
- IRITECH INC.
- M2SYS Technology
- Safran SA
- Thales Group
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
