Global Iris Biometrics Market Size, Share, Trends, Industry Growth by Component (Hardware, Software), by Product (Smartphones, Smartwatches, PCs, Laptops, & Others), by Application, by Industry, by Region, and Forecast to 2028
Report ID: RCMA207 | Report Format: PDF + Excel | Starting Price: 2680/- USD |The global iris biometrics market size was accounted to generate significant revenue of around USD 3 billion in 2021 and is expected to register a higher CAGR of over 13% during the forecast period from 2022 to 2028. The increasing adoption of the technology in the government sector to identify and authentication process is a primary factor to drive the market growth. Furthermore, the growing penetration of the technology in consumer electronics such as smartphones, smartwatches, laptops, and others and the rising penetration of iris scanners in access control applications is further anticipated to boost the market growth over the forecast period.
Moreover, the growing demand for iris biometrics in various applications to enhance secure authentication such as access control, e-commerce, and other safety applications is expected to drive the global iris biometrics market. the growing demand for enhanced security and identification systems, large-scale deployment of the technology in access security, and the growing adoption of the iris biometric authentication methods in mobile banking are expected to fuel the market growth over the forecast period. For instance, in 2017, Samsung and BAVV offer an iris scanning feature that allows users to log on to the mobile banking app on their smartphone by simply looking at their display.
Market Insights:
By component, the software segment is estimated to hold the largest share of around 2/3 share by 2028
The global iris biometrics market is bifurcated into component, product, application, industry vertical, and geography. On the basis of components, the market is further segmented into hardware and software. The software segment dominated the global market in 2021 and is estimated to hold the largest revenue share of around 2/3 market share by the end of the analysis period. The rapidly evolving critical role of digital identity within information technology (IT), workforce decentralization, and population mobility verticals will continue to drive demand for iris biometrics in the short to medium term, with the growing emergence of financially sound and advanced players. The Iris Biometrics value chain, including technology vendors, solution providers, and systems integrators, will maintain long-term growth prospects.
By industry vertical, the consumer electronics segment dominated the global market owing to the increasing penetration of iris biometrics in electronic devices
On the basis of industry verticals, the global iris biometrics market is segmented into government, military and defense, healthcare, banking and finance, consumer electronics, travel and immigration, and others. The consumer electronics segment is accounted to register a significant CAGR over the forecast period. The increasing penetration of the technology in various electronic devices such as smartphones, smartwatches, laptops, and others is a major factor to drive the segment growth. furthermore, the rising safety concern of identity theft and fraud, and the rising focus to enhance the security in government and commercial applications are further expected to fuel the segment growth over the forecast period.
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The iris biometrics comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The iris biometrics market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2019-20 – Historical Year
- 2021 – Base Year
- 2022-2028 – Forecast Period
Global Iris Biometrics Market Segmentation:
Iris Biometrics Market Segmentation by Component:
- Hardware
- Software
Iris Biometrics Market Segmentation by Product:
- Smartphones
- Smartwatches
- PCs
- Laptops
- Tablets and Notebooks
- Scanners
- Others
Iris Biometrics Market Segmentation by Application:
- Access control
- Identity Verification
- Others
Iris Biometrics Market Segmentation by Industry Vertical:
- Government
- Military and Defense
- Healthcare
- Banking and Finance
- Consumer Electronics
- Travel and Immigration
- Others
Iris Biometrics Market Segmentation by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Iris Biometrics Market: Geographic Coverage
Geographically, North America dominated the global iris biometrics market in 2021 and accounted to hold the largest revenue share of over 1/3 market share by the end of the analysis period. The widespread adoption of the technology in various industries and the government’s supportive policies are some major factors driving the market growth in the region. On the flip side, the Asia Pacific is accounted to register the fastest growth in the market over the forecast period. The rising safety concerns and the growing demand for the technology in E-passports and other national ID programs are some prominent factors driving the market growth in the Asia Pacific.
Iris Biometrics Market: Competitive Assessment
Some of the major market players operating in the global iris biometrics market are Iritech Inc., BioEnable Technologies Pvt. Ltd., Aware Inc., Iris ID Inc., and EyeLock LLC. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
List of Key Companies:
- Iritech Inc.
- BioEnable Technologies Pvt. Ltd.
- Aware Inc.
- Iris ID Inc.
- EyeLock LLC
- HID Global
- Princeton Identity Inc.
- Gemalto NV (Thales Group)
- NEC Corporation
- IrisGuard UK Ltd
- IDEMIA
Key Questions Answered by Iris biometrics Market Report
- Global iris biometrics market forecasts from 2022-2028
- Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
- Iris biometrics submarket forecasts from 2022-2028 covering the market by component, by product, by application, by industry verticals, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about the market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level iris biometrics markets from 2022-2028
- Competitive Landscape and market positioning of top 10 players operating in the market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Iris Biometrics Market Portraiture
2.2. Global Iris Biometrics Market, by Component, 2021 (USD Mn)
2.3. Global Iris Biometrics Market, by Product, 2021 (USD Mn)
2.4. Global Iris Biometrics Market, by Application, 2021 (USD Mn)
2.5. Global Iris Biometrics Market, by Industry Verticals, 2021 (USD Mn)
2.6. Global Iris Biometrics Market, by Geography, 2021 (USD Mn)
3. Global Iris Biometrics Market Analysis
3.1. Iris Biometrics Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Iris Biometrics Market By Component, 2019 – 2028 (USD Mn)
4.1. Overview
4.2. Hardware
4.3. Software
5. Global Iris Biometrics Market By Product, 2019 – 2028 (USD Mn)
5.1. Overview
5.2. Smartphones
5.3. Smartwatches
5.4. PCs
5.5. Laptops
5.6. Tablets and Notebooks
5.7. Scanners
5.8. Others
6. Global Iris Biometrics Market By Application, 2019 – 2028 (USD Mn)
6.1. Overview
6.2. Access control
6.3. Identity Verification
6.4. Others
7. Global Iris Biometrics Market By Industry Verticals, 2019 – 2028 (USD Mn)
7.1. Overview
7.2. Government
7.3. Military and Defense
7.4. Healthcare
7.5. Banking and Finance
7.6. Consumer Electronics
7.7. Travel and Immigration
7.8. Others
8. North America Iris Biometrics Market Analysis and Forecast, 2019 – 2028 (USD Mn)
8.1. Overview
8.2. North America Iris Biometrics Market by Component, (2019-2028 USD Mn)
8.3. North America Iris Biometrics Market by Product, (2019-2028 USD Mn)
8.4. North America Iris Biometrics Market by Application, (2019-2028 USD Mn)
8.5. North America Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
8.6. North America Iris Biometrics Market by Country, (2019-2028 USD Mn)
8.6.1. U.S.
8.6.1.1. U.S. Iris Biometrics Market by Component, (2019-2028 USD Mn)
8.6.1.2. U.S. Iris Biometrics Market by Product, (2019-2028 USD Mn)
8.6.1.3. U.S. Iris Biometrics Market by Application, (2019-2028 USD Mn)
8.6.1.4. U.S. Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
8.6.2. Canada
8.6.2.1. Canada Iris Biometrics Market by Component, (2019-2028 USD Mn)
8.6.2.2. Canada Iris Biometrics Market by Product, (2019-2028 USD Mn)
8.6.2.3. Canada Iris Biometrics Market by Application, (2019-2028 USD Mn)
8.6.2.4. Canada Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
9. Europe Iris Biometrics Market Analysis and Forecast, 2019 – 2028 (USD Mn)
9.1. Overview
9.2. Europe Iris Biometrics Market by Component, (2019-2028 USD Mn)
9.3. Europe Iris Biometrics Market by Product, (2019-2028 USD Mn)
9.4. Europe Iris Biometrics Market by Application, (2019-2028 USD Mn)
9.5. Europe Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
9.6. Europe Iris Biometrics Market by Country, (2019-2028 USD Mn)
9.6.1. Germany
9.6.1.1. Germany Iris Biometrics Market by Component, (2019-2028 USD Mn)
9.6.1.2. Germany Iris Biometrics Market by Product, (2019-2028 USD Mn)
9.6.1.3. Germany Iris Biometrics Market by Application, (2019-2028 USD Mn)
9.6.1.4. Germany Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
9.6.2. U.K.
9.6.2.1. U.K. Iris Biometrics Market by Component, (2019-2028 USD Mn)
9.6.2.2. U.K. Iris Biometrics Market by Product, (2019-2028 USD Mn)
9.6.2.3. U.K. Iris Biometrics Market by Application, (2019-2028 USD Mn)
9.6.2.4. U.K. Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
9.6.3. France
9.6.3.1. France Iris Biometrics Market by Component, (2019-2028 USD Mn)
9.6.3.2. France Iris Biometrics Market by Product, (2019-2028 USD Mn)
9.6.3.3. France Iris Biometrics Market by Application, (2019-2028 USD Mn)
9.6.3.4. France Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
9.6.4. Italy
9.6.4.1. Italy Iris Biometrics Market by Component, (2019-2028 USD Mn)
9.6.4.2. Italy Iris Biometrics Market by Product, (2019-2028 USD Mn)
9.6.4.3. Italy Iris Biometrics Market by Application, (2019-2028 USD Mn)
9.6.4.4. Italy Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
9.6.5. Rest of Europe
9.6.5.1. Rest of Europe Iris Biometrics Market by Component, (2019-2028 USD Mn)
9.6.5.2. Rest of Europe Iris Biometrics Market by Product, (2019-2028 USD Mn)
9.6.5.3. Rest of Europe Iris Biometrics Market by Application, (2019-2028 USD Mn)
9.6.5.4. Rest of Europe Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
10. Asia Pacific Iris Biometrics Market Analysis and Forecast, 2019 – 2028 (USD Mn)
10.1. Overview
10.2. Asia Pacific Iris Biometrics Market by Component, (2019-2028 USD Mn)
10.3. Asia Pacific Iris Biometrics Market by Product, (2019-2028 USD Mn)
10.4. Asia Pacific Iris Biometrics Market by Application, (2019-2028 USD Mn)
10.5. Asia Pacific Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
10.6. Asia Pacific Iris Biometrics Market by Country, (2019-2028 USD Mn)
10.6.1. China
10.6.1.1. China Iris Biometrics Market by Component, (2019-2028 USD Mn)
10.6.1.2. China Iris Biometrics Market by Product, (2019-2028 USD Mn)
10.6.1.3. China Iris Biometrics Market by Application, (2019-2028 USD Mn)
10.6.1.4. China Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
10.6.2. Japan
10.6.2.1. Japan Iris Biometrics Market by Component, (2019-2028 USD Mn)
10.6.2.2. Japan Iris Biometrics Market by Product, (2019-2028 USD Mn)
10.6.2.3. Japan Iris Biometrics Market by Application, (2019-2028 USD Mn)
10.6.2.4. Japan Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
10.6.3. India
10.6.3.1. India Iris Biometrics Market by Component, (2019-2028 USD Mn)
10.6.3.2. India Iris Biometrics Market by Product, (2019-2028 USD Mn)
10.6.3.3. India Iris Biometrics Market by Application, (2019-2028 USD Mn)
10.6.3.4. India Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
10.6.4. Rest of Asia Pacific
10.6.4.1. Rest of Asia Pacific Iris Biometrics Market by Component, (2019-2028 USD Mn)
10.6.4.2. Rest of Asia Pacific Iris Biometrics Market by Product, (2019-2028 USD Mn)
10.6.4.3. Rest of Asia Pacific Iris Biometrics Market by Application, (2019-2028 USD Mn)
10.6.4.4. Rest of Asia Pacific Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
11. Latin America (LATAM) Iris Biometrics Market Analysis and Forecast, 2019 – 2028 (USD Mn)
11.1. Overview
11.2. Latin America Iris Biometrics Market by Component, (2019-2028 USD Mn)
11.3. Latin America Iris Biometrics Market by Product, (2019-2028 USD Mn)
11.4. Latin America Iris Biometrics Market by Application, (2019-2028 USD Mn)
11.5. Latin America Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
11.6. Latin America Iris Biometrics Market by Country, (2019-2028 USD Mn)
11.6.1. Brazil
11.6.1.1. Brazil Iris Biometrics Market by Component, (2019-2028 USD Mn)
11.6.1.2. Brazil Iris Biometrics Market by Product, (2019-2028 USD Mn)
11.6.1.3. Brazil Iris Biometrics Market by Application, (2019-2028 USD Mn)
11.6.1.4. Brazil Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
11.6.2. Mexico
11.6.2.1. Mexico Iris Biometrics Market by Component, (2019-2028 USD Mn)
11.6.2.2. Mexico Iris Biometrics Market by Product, (2019-2028 USD Mn)
11.6.2.3. Mexico Iris Biometrics Market by Application, (2019-2028 USD Mn)
11.6.2.4. Mexico Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
11.6.3. Rest of Latin America
11.6.3.1. Rest of Latin America Iris Biometrics Market by Component, (2019-2028 USD Mn)
11.6.3.2. Rest of Latin America Iris Biometrics Market by Product, (2019-2028 USD Mn)
11.6.3.3. Rest of Latin America Iris Biometrics Market by Application, (2019-2028 USD Mn)
11.6.3.4. Rest of Latin America Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
12. Middle East and Africa Iris Biometrics Market Analysis and Forecast, 2019 – 2028 (USD Mn)
12.1. Overview
12.2. MEA Iris Biometrics Market by Component, (2019-2028 USD Mn)
12.3. MEA Iris Biometrics Market by Product, (2019-2028 USD Mn)
12.4. MEA Iris Biometrics Market by Application, (2019-2028 USD Mn)
12.5. MEA Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
12.6. Middle East and Africa Iris Biometrics Market, by Country, (2019-2028 USD Mn)
12.6.1. GCC
12.6.1.1. GCC Iris Biometrics Market by Component, (2019-2028 USD Mn)
12.6.1.2. GCC Iris Biometrics Market by Product, (2019-2028 USD Mn)
12.6.1.3. GCC Iris Biometrics Market by Application, (2019-2028 USD Mn)
12.6.1.4. GCC Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
12.6.2. South Africa
12.6.2.1. South Africa Iris Biometrics Market by Component, (2019-2028 USD Mn)
12.6.2.2. South Africa Iris Biometrics Market by Product, (2019-2028 USD Mn)
12.6.2.3. South Africa Iris Biometrics Market by Application, (2019-2028 USD Mn)
12.6.2.4. South Africa Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
12.6.3. Rest of MEA
12.6.3.1. Rest of MEA Iris Biometrics Market by Component, (2019-2028 USD Mn)
12.6.3.2. Rest of MEA Iris Biometrics Market by Product, (2019-2028 USD Mn)
12.6.3.3. Rest of MEA Iris Biometrics Market by Application, (2019-2028 USD Mn)
12.6.3.4. Rest of MEA Iris Biometrics Market by Industry Verticals, (2019-2028 USD Mn)
13. Company Profiles
13.1. Iritech Inc.
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. BioEnable Technologies Pvt. Ltd.
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. Aware Inc.
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Iris ID Inc.
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. EyeLock LLC
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. HID Global
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Princeton Identity Inc.
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Gemalto NV (Thales Group)
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. NEC Corporation
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. IrisGuard UK Ltd.
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
13.11. IDEMIA
13.11.1. Business Description
13.11.2. Financial Health and Budget Allocation
13.11.3. Product Positions/Portfolio
13.11.4. Recent Development
13.11.5. SWOT Analysis
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