Market Overview:
The global iris recognition locks market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for advanced security solutions and rising concerns about data security. In addition, the growing adoption of iris recognition locks in various applications such as residential, commercial, industry and others is also contributing to the growth of this market. Based on type, the global iris recognition locks market can be segmented into below 3 seconds and above 3 seconds. The below 3 seconds segment is expected to account for a larger share of the global iris recognition locks market than the above 3 seconds segment during the forecast period from 2018 to 2030. This can be attributed to factors such as lower installation time and easy operability of these locks.
Product Definition:
Iris recognition locks are a type of security measure that use the unique patterns in a person's iris to unlock a door or device. This type of lock is considered more secure than traditional locks, as it is very difficult to forge someone's iris. Iris recognition locks are often used in high-security areas, such as government buildings or banks.
Below 3 Seconds:
Iris recognition is a biometric technique used to compare the pattern of an individual's iris to the enrolled template and verify their identity. The technology has gained popularity due to its high accuracy, speed, and ease of use. Iris recognition technology is widely used in access control systems for doors, windows, cash machines, vending machines among others. It helps in providing security as it provides an additional layer of protection against intruders or fraudulent users.
Above 3 Seconds:
Iris recognition locks are gaining popularity among smartphone users as they offer an additional layer of security to their devices. These locks work on the basis of detecting the user’s iris and allow access only to authorized users. The technology is not new; in fact, it has been around for more than 10 years but gained prominence with its inclusion in Apple’s iPhone 5S a year ago.
Application Insights:
The global Iris Recognition Locks market has been segmented on the basis of application into residential, commercial and industry. The commercial sector includes hotels, hospitals, corporate offices, malls and complexes. Iris scanners are in great demand in this sector as it provides an additional layer of security to the facilities by identifying suspicious individuals or groups who may attempt to gain unauthorized access to a building or area.
The growing trend for providing advanced security systems at prominent locations across the globe is expected to drive product demand over the forecast period. For instance; In June 2017; Samsung Electronics announced that it has partnered with Aruba Networks Inc., in order for Samsung Galaxy S8 smartphones running on ArubaOS 6 platform to provide enhanced authentication capabilities through iris-based biometric authentication technology integrated within Smart Card Security (SCS) solution provided by both companies.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to continue its dominance over the forecast period as well, owing to high demand for advanced security systems and growing adoption of smart devices. Asia Pacific is projected to be the fastest-growing regional market from 2018 to 2030 due to increasing investments in infrastructure development and rising consumer disposable income levels. Moreover, a large number of retail outlets are likely drive regional growth through their implementation of iris recognition technology for door access control system. Europe also accounted for a significant share in terms of revenue generation owing iris recognition locks being used on public buildings such as railway stations and airports among others’ installations across countries such as Germany, France, Italy, U.K.
Growth Factors:
- Increasing demand for security and safety measures in both residential and commercial sectors is expected to drive the iris recognition locks market growth.
- The increasing use of biometric technology in various applications such as banking, defense, and healthcare is also projected to fuel the demand for iris recognition locks over the forecast period.
- Growing awareness about the benefits of using iris recognition locks over traditional locking systems is anticipated to boost market growth.
- The increasing adoption of IoT-enabled devices is expected to create new opportunities for the iris recognition locks market during the forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Iris Recognition Locks Market Research Report
By Type
Below 3 Seconds, Above 3 Seconds
By Application
Residential, Commercial, Industry, Others
By Companies
KT＆C, Audiovox (EyeLock), Fulcrum Biometric, M, CMITech, Iris ID, Eyenuk, Inc, Wuhan Hongshi Technology, Shenzhen Irismart Technology, Shenzhen Anixvideo Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
202
Number of Tables & Figures
142
Customization Available
Yes, the report can be customized as per your need.
Global Iris Recognition Locks Market Report Segments:
The global Iris Recognition Locks market is segmented on the basis of:
Types
Below 3 Seconds, Above 3 Seconds
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- KT＆C
- Audiovox (EyeLock)
- Fulcrum Biometric
- M
- CMITech
- Iris ID
- Eyenuk, Inc
- Wuhan Hongshi Technology
- Shenzhen Irismart Technology
- Shenzhen Anixvideo Technology
Highlights of The Iris Recognition Locks Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 3 Seconds
- Above 3 Seconds
- By Application:
- Residential
- Commercial
- Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Iris Recognition Locks Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Iris recognition locks are security features that use iris scanning technology to identify authorized users. This type of lock is often used in businesses and other locations where security is important, such as hospitals and schools.
Some of the major companies in the iris recognition locks market are KT＆C, Audiovox (EyeLock), Fulcrum Biometric, M, CMITech, Iris ID, Eyenuk, Inc, Wuhan Hongshi Technology, Shenzhen Irismart Technology, Shenzhen Anixvideo Technology.
The iris recognition locks market is expected to grow at a compound annual growth rate of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Iris Recognition Locks Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Iris Recognition Locks Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Iris Recognition Locks Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Iris Recognition Locks Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Iris Recognition Locks Market Size & Forecast, 2020-2028
4.5.1 Iris Recognition Locks Market Size and Y-o-Y Growth
4.5.2 Iris Recognition Locks Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Below 3 Seconds
5.2.2 Above 3 Seconds
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Iris Recognition Locks Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Iris Recognition Locks Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Below 3 Seconds
9.6.2 Above 3 Seconds
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industry
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Below 3 Seconds
10.6.2 Above 3 Seconds
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industry
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Below 3 Seconds
11.6.2 Above 3 Seconds
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industry
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Below 3 Seconds
12.6.2 Above 3 Seconds
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industry
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Below 3 Seconds
13.6.2 Above 3 Seconds
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industry
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Iris Recognition Locks Market: Competitive Dashboard
14.2 Global Iris Recognition Locks Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 KT＆C
14.3.2 Audiovox (EyeLock)
14.3.3 Fulcrum Biometric
14.3.4 M
14.3.5 CMITech
14.3.6 Iris ID
14.3.7 Eyenuk, Inc
14.3.8 Wuhan Hongshi Technology
14.3.9 Shenzhen Irismart Technology
14.3.10 Shenzhen Anixvideo Technology
