The global market for Iris Biometrics is projected to reach US$5.2 billion by 2024, driven by effervescent technology advancements and growing use in access, surveillance and identity applications. Long term growth in the market will be driven by the successful use of the technology in healthcare; national ID programs including immigration, travel security; banking & financial services; and system & network access control. The market also stands to benefit from rising R&D investments in enhancing the usability of IRIS authentication in e-Commerce applications and continuous incremental technology improvements that have made the technology more accessible in terms of cost and deployment. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of about 27.5% over the analysis period led by factors such as growing population and the ensuing need for access control and identification in public facilities like airports, railway stations etc.; rise in terrorism in the region and the resulting pressure on public safety and security; and growing focus of local governments in enabling digital identification systems for their citizens.

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Summary of Findings
  • Handset Vendors Focus on Developing Smartphones With Embedded Iris Scanners to Enable Foolproof Device Access
  • The Flawless, Seamless, Secure and Transparent Attributes of Iris Biometrics Drive Airports Worldwide to Deploy Iris Recognition Based Biometric Security
  • Rising Costs of Fraud in Online Financial Transactions Drives Interest in the Commercial Development of Iris Biometrics for e-Commerce
  • Unfounded Concerns Over Eye Safety and Health Hazards Related to Infrared Radiation Associated with Laser Based Retinal Scanners Presents a Challenge to Growth
  • Lack of Appropriate Standards and High Costs to Inhibit Immediate Growth Prospects for Iris Biometric Technology

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific, Middle East & Africa, and Latin America

Major Players
  • Aditech Ltd.
  • Anviz Global, Inc.
  • BioEnable Technologies Pvt. Ltd.
  • EyeLock Corp.
  • Gemalto N.V.
  • Iris ID Systems, Inc.

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