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Global Iris Recognition Market 2017-2021

Global Iris Recognition Market 2017-2021

About Iris Recognition

Iris recognition is one of the biometric authentication technologies that captures an image of the eye pattern, converts the iris image to a binary template, and then saves the data to a server for future to match the identity of an individual. Some of the major characteristics of technology include contactless, fast and renowned for its accuracy, iris recognition can operate at long distances, stable, non-invasive, non-contact, and hygienic characteristics.

Technavio’s analysts forecast the global iris recognition market to grow at a CAGR of 20.68% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global iris recognition market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Iris Recognition Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • BioEnable
  • Iris ID
  • IrisGuard
  • IRITECH
  • M2SYS Technology
Other prominent vendors
  • BI² Technologies
  • Biomatiques Identification Solution
  • Delta ID
  • EyeLock
  • EyeSmart Technology
  • EyeVerify
  • Gemalto
  • HONGBOG
  • HYPR
  • Infinity Optics Solutions
  • IRISYS
  • Precision Group
  • Princeton Identity
Market driver
  • Increased adoption of iris recognition in government sector
  • For a full, detailed list, view our report
Market challenge
  • Vulnerability of biometrics systems
  • For a full, detailed list, view our report
Market trend
  • Increased demand for iris recognition in BFSI sector
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Iris Recognition Market 2017-2021

Technavio recognizes the following companies as the key players in the global iris recognition market: BioEnable, Iris ID, IrisGuard, IRITECH, and M2SYS Technology.

Other Prominent Vendors in the market are: BI² Technologies, Biomatiques Identification Solution, Delta ID, EyeLock, EyeSmart Technology, EyeVerify, Gemalto, HONGBOG, HYPR, Infinity Optics Solutions, IRISYS, Precision Group, and Princeton Identity.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased demand for iris recognition in BFSI sector. Iris recognition is used in the BFSI sector as a replacement for PINs, account numbers, and paper-based credentials. Iris recognition enables customers to check their account balance, make transactions, and access other banking services from remote locations.”

According to the report, one driver in the market is increased adoption of iris recognition in government sector. The government has increased its spending on biometrics techniques and reduced adoption of other non-biometric technologies due to their constraints of being lost or stolen by the individual. Furthermore, due to instances of terrorist threats at airports in the past, governments of various countries are deploying biometrics to thoroughly verify an individual based on the behavioral and physiological characteristics such as iris scan and fingerprint scan that are embedded in passports and visas.

Further, the report states that one challenge in the market is vulnerability of biometrics systems. There may be instances of iris recognition biometrics systems being compromised by design or by accident, which makes them vulnerable to damage or attack at the level of the device or associated equipment. Iris recognition biometrics devices are vulnerable to spoofing, physical attacks, and damage to cables and wires. At the level of the system, algorithms and templates are susceptible to hackers; data is vulnerable to alteration, deletion, or theft at the administrator or account level; and software components are vulnerable to attack.

Companies Mentioned

BioEnable, Iris ID, IrisGuard, IRITECH, and M2SYS Technology, BI² Technologies, Biomatiques Identification Solution, Delta ID, EyeLock, EyeSmart Technology, EyeVerify, Gemalto, HONGBOG, HYPR, Infinity Optics Solutions, IRISYS, Precision Group, and Princeton Identity.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Related market
      • Table Global iris recognition market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition: Inclusions and exclusions checklist
    • Market sizing 2016
      • Table Market size 2016
      • Table Validation techniques employed for market sizing: 2016
    • Market size and forecast 2016-2021
      • Table Global – Market size and forecast 2016-2021 ($ bn)
      • Table Global – Year-over-year growth 2017-2021 (%)
    • Market assumptions
      • Table Market assumptions
  • Market developments
    • Evolution of multimodal biometrics
    • Emergence of mobile biometrics
    • Emergence of contactless biometrics
  • Five forces analysis
    • Table Five forces analysis 2016
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Five forces analysis
  • Market segmentation by product
    • Segmentation by product
  • Market segmentation by end-user
    • Segmentation by end-user
      • Table End-user – Market share 2016-2021 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Government – Market size and forecast 2016-2021
      • Table Government – Market size and forecast 2016-2021 ($ bn)
      • Table Government – Year-over-year growth 2017-2021 (%)
    • Transportation – Market size and forecast 2016-2021
      • Table Transportation – Market size and forecast 2016-2021 ($ bn)
      • Table Transportation – Year-over-year growth 2017-2021 (%)
    • Healthcare – Market size and forecast 2016-2021
      • Table Healthcare – Market size and forecast 2016-2021 ($ bn)
      • Table Healthcare – Year-over-year growth 2017-2021 (%)
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Regional landscape
    • Geographical segmentation
      • Table Global – Market share by geography 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • Americas – Market size and forecast 2016-2021
      • Table Americas – Market size and forecast 2016-2021 ($ bn)
      • Table Americas – Year-over-year growth 2017-2021 (%)
      • Table Top 3 countries in Americas
    • EMEA – Market size and forecast 2016-2021
      • Table EMEA – Market size and forecast 2016-2021 ($ bn)
      • Table EMEA – Year-over-year growth 2017-2021 (%)
      • Table Top three countries in EMEA
    • APAC – Market size and forecast 2016-2021
      • Table APAC – Market size and forecast 2016-2021 ($ bn)
      • Table APAC – Year-over-year growth 2017-2021 (%)
      • Table Top three countries in APAC
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Increased demand for iris recognition in BFSI sector
    • Emergence of iris recognition in wearables
    • Introduction of iris scanners in smartphones
  • Vendor landscape
    • Competitive scenario
      • Table Key vendor offerings
    • Other prominent vendors
      • Table Other prominent vendors in the global iris recognition market
  • Major vendor profiles
    • BioEnable
    • Iris ID
    • IrisGuard
    • IRITECH
    • M2SYS Technology
  • Mergers and acquisitions
    • M&A in market
      • Table M&A in global iris recognition market
  • Appendix
    • List of abbreviations
  • Explore Technavio

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