The iris recognition market is expected to grow at a rapid pace in most of the regions in the world due to growing concerns of every country towards the safety and security of citizens and the focus of players for incorporating the technology in various application areas such as government, military & defense, healthcare, banking & finance, consumer electronics, travel & immigration, and so on. A huge demand from various government organizations and travel and immigration departments is a major factor which is driving the market growth. The market is further driven by the implementation of e-passport programs, national ID proofs, and so on. It provides one of the most secured methods of authentication and identification because of the unique characteristics of an iris. In 2014, the Americas accounted for the largest share of the iris recognition market, followed by Europe and APAC.
The integration of cloud computing technology to ensure high-level security is creating opportunities for this market. The report reviews the latest market trends with insights regarding future growth prospects. An in-depth analysis on a geographic basis provides strategic business intelligence for investments in the market. The study reveals profitable investment strategies for product manufacturers, electronics companies, business executives, product marketing managers, new business investors, and others.
In this report, the market is segmented on the basis of component- hardware and software, product- smartphone, smartwatch, tablet & notebook, PC/laptop, and scanner, application- access control and time monitor, industry- government, military & defense, healthcare, banking & finance, consumer electronics, travel & immigration, and automotive. The competitive landscape section of the report primarily focuses on key players in the iris recognition market, their latest developments, and respective market ranking. In addition to this, the report entails emerging market trends, advancements in the technological space, market demand of segments, key growth areas, market size projections, region-wise demand factors, and key competitors’ analysis.
The geographic segmentation of the report covers four major regions of the world, namely, the Americas, Europe, Asia-Pacific, and Rest of the World (RoW). The report also profiles major players in the iris recognition market. Some of the major players in this market are 3M Cogent Inc. (U.S.), Safran (France), Cross Match Technologies Inc. (U.S.), Iris ID, Inc. (U.S.), Iritech, Inc. (U.S.), SRI International (U.S.), EyeLock (U.S.), and so on.