Iris Recognition Global Market Size, Industry Share, Forecast 2032

The Iris Recognition Global Market Report 2023, provides comprehensive information on the iris recognition market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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As per The Business Research Company’s Iris Recognition Global Market Report 2023, the global iris recognition market size is expected to grow from $3.43 billion in 2022 to $3.97 billion in 2023 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iris recognition market size is expected to grow to $7.14 billion in 2027 at a CAGR of 15.8%.

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Technological advancement is a key trend gaining popularity in the iris recognition market. Major companies operating in the iris recognition market are introducing technological advanced products to sustain their position in the market. For instance, in September 2022, Hikvision, a China-based video surveillance equipment manufacturer launched MinMoe Iris Recognition Terminal. The new product provides a higher level of security due to its unique identification pattern and security measures. The terminal can scan the iris within 1 second and the maximum recognition distance is 70 cm. It also features color imaging and video anti-counterfeiting technology to guarantee greater accuracy and safety.

The iris recognition market is segmented:

1) By Product: Smartphones, Wearables, Tablets And Notebooks, Personal Computers, Scanners
2) By Component: Hardware, Software
3) By Application: Identity Management And Access control, Time Monitoring, E-Payment
4) By End-User Industry: Consumer Electronics, Healthcare, BFSI (Banking, Financial Services And Insurance), Military And Defense, Government, Other End-User Industries

North America was the largest region in the iris recognition market in 2022.

The table of contents in TBRC’s iris recognition market report includes:
1. Executive Summary
2. Iris Recognition Market Characteristics
3. Iris Recognition Market Trends And Strategies
4. Iris Recognition Market – Macro Economic Scenario
5. Iris Recognition Market Size And Growth
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26. Africa Iris Recognition Market
27. Iris Recognition Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Iris Recognition Market
29. Iris Recognition Market Future Outlook and Potential Analysis
30. Appendix

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