NEW YORK, Aug. 4, 2021 /PRNewswire/ — Set to grow by USD 2.08 billion during 2020-2024, Technavio’s latest market research report estimates the iris recognition market to register a CAGR of over 23%. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aware Inc., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, Safran SA, Thales Group, and BioEnable Technologies Pvt. Ltd. are some of the major market participants. Although the growing need to reduce identity duplication will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Iris Recognition Market 2020-2024: Segmentation
Iris Recognition Market is segmented as below:
- North America
- South America
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Iris Recognition Market 2020-2024: Vendor Analysis and Scope
Some of the major vendors of the iris recognition market in the communications equipment industry include Aware Inc., EyeLock LLC, Honeywell International Inc., Iris ID Systems Inc., IrisGuard UK Ltd., IRITECH INC., M2SYS Technology, Safran SA, Thales Group, and BioEnable Technologies Pvt. Ltd. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 vendors operating in the market.
The report also covers the following areas:
- Iris Recognition Market size
- Iris Recognition Market trends
- Iris Recognition Market industry analysis
The iris recognition market is fragmented, and the degree of fragmentation will accelerate. The increased adoption of iris recognition in the government sector will offer immense growth opportunities. However, the vulnerability of biometrics systems will hamper market growth.
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Backed with competitive intelligence and benchmarking, our research report on the iris recognition market is designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
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Iris Recognition Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist iris recognition market growth during the next five years
- Estimation of the iris recognition market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the iris recognition market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of iris recognition market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Government – Market size and forecast 2019-2024
- Transportation – Market size and forecast 2019-2024
- Healthcare – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Aware Inc.
- BioEnable Technologies Pvt. Ltd.
- EyeLock LLC
- Honeywell International Inc.
- Iris ID Systems Inc.
- IrisGuard UK Ltd.
- IRITECH INC.
- M2SYS Technology
- Safran SA
- Thales Group
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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