Market Overview:
The global iris recognition machine market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The increasing demand for iris recognition machines for various applications such as access control systems, printers, computers, management software, electronic equipment and wearable devices is driving the growth of the global iris recognition machine market. The growing adoption of biometric technology in various end-use industries is also contributing to the growth of the global iris recognition machine market. However, high installation and maintenance costs associated with these machines are restraining the growth of this market. On basis on type, handheld terminal type segment is expected to hold major share in global Iris Recognition Machine Market by 2030 owing its low cost and easy operability as compared other types available in market followed by embedded instrument type segment over forecast period . On basis on application , Access Control System would account largest share in terms of revenue contribution throughout entire forecast period followed by printer application . Regionally North America dominates Global Iris Recognition Machine Market with highest revenue contribution throughout entire forecast period .
Product Definition:
Iris recognition is a technology employed in identification and verification systems. It uses patterns of the iris, the colored part of the human eye, for identification. The technology captures images of a person's irises and compares them to previously stored templates.
Iris Smart Lock:
Iris recognition technology is used in access control systems to grant or deny entry into a premises. It uses the pattern of eye retina for identification and authentication purposes. The technology has gained popularity owing to its high level of security, convenience, and accuracy features. Iris recognition smart lock is an emerging trend in home automation devices that uses iris biometric as a means of identifying users for granting access rights to authenticated individuals within the vicinity of the device’s camera or sensor system.
Handheld Iris Terminal:
Handheld Iris Terminal (HIT) is a device used for the purpose of iris recognition. It is an optical instrument that enables biometric agencies to compare the captured image with the photo taken from an individual’s identity document. The iris consists of two layers; namely, outer layer and inner layer.
Application Insights:
The access control system segment dominated the global Iris Recognition Machine market in 2017 and is expected to witness significant growth over the forecast period. The growing demand for robust security systems at corporate offices, government buildings, hospitals, educational institutions and other high-end commercial establishments is expected to drive the segment growth.
The computer application segment accounted for a substantial share of the overall revenue in 2017 owing to increasing use of iris recognition technology across various sectors such as banking & financial services, telecom & IT and media & entertainment. Iris scanning devices are used on a daily basis by people who frequent these sectors for identification purposes or access restricted areas. This has led to increased adoption of iris recognition machines globally which will further boost industry growth over the coming years.
Iris recognition machine finds applications across all major verticals including healthcare (printing prescriptions), transport (airport security), education (classroom management).
Regional Analysis:
North America dominated the global iris recognition machine market in 2017. The growth of this region can be attributed to the presence of a large number of players operating in this region. Moreover, these players are also aggressively expanding their business operations by introducing new products and services for both consumers and businesses. For instance, in June 2018, Honeywell International Inc., a multinational conglomerate headquartered in the U.S., launched two new smart home security systems-Hive and Hyve Connected Home Security Systems-in partnership with Alarm Grid LLC, an American based company providing cloud-based security solutions over internet connection.
Growth Factors:
- Increasing demand for iris recognition technology from government and law enforcement agencies for security purposes.
- Growing use of iris recognition technology in banking and financial sector to prevent identity theft and fraud.
- Rising demand for iris recognition machines from healthcare sector for patient identification and tracking purposes.
- Increasing adoption of iris recognition machines in retail sector to improve customer service experience .
Scope Of The Report
Report Attributes
Report Details
Report Title
Iris Recognition Machine Market Research Report
By Type
Iris Smart Lock, Handheld Iris Terminal, Embedded Iris Recognition Instrument, Contact Iris Collector, Cabinet Type Iris Recognition Machine
By Application
Access Control System, Printer, Computer, Management Software, Electronic Equipment, Wearable Device
By Companies
Iridian, Iriteck, Jiris, IrisKing, Iris World, Panasonic, IRISIAN
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
213
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Iris Recognition Machine Market Report Segments:
The global Iris Recognition Machine market is segmented on the basis of:
Types
Iris Smart Lock, Handheld Iris Terminal, Embedded Iris Recognition Instrument, Contact Iris Collector, Cabinet Type Iris Recognition Machine
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
Access Control System, Printer, Computer, Management Software, Electronic Equipment, Wearable Device
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:
- Iridian
- Iriteck
- Jiris
- IrisKing
- Iris World
- Panasonic
- IRISIAN
Highlights of The Iris Recognition Machine 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:
- Iris Smart Lock
- Handheld Iris Terminal
- Embedded Iris Recognition Instrument
- Contact Iris Collector
- Cabinet Type Iris Recognition Machine
- By Application:
- Access Control System
- Printer
- Computer
- Management Software
- Electronic Equipment
- Wearable Device
- 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 Machine 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.
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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 machine is a computer system that can identify objects by their iris patterns.
Some of the major companies in the iris recognition machine market are Iridian, Iriteck, Jiris, IrisKing, Iris World, Panasonic, IRISIAN.
The iris recognition machine market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Iris Recognition Machine 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 Machine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Iris Recognition Machine 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 Machine 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 Machine Market Size & Forecast, 2020-2028
4.5.1 Iris Recognition Machine Market Size and Y-o-Y Growth
4.5.2 Iris Recognition Machine 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 Iris Smart Lock
5.2.2 Handheld Iris Terminal
5.2.3 Embedded Iris Recognition Instrument
5.2.4 Contact Iris Collector
5.2.5 Cabinet Type Iris Recognition Machine
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 Access Control System
6.2.2 Printer
6.2.3 Computer
6.2.4 Management Software
6.2.5 Electronic Equipment
6.2.6 Wearable Device
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Iris Recognition Machine 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 Machine 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 Iris Smart Lock
9.6.2 Handheld Iris Terminal
9.6.3 Embedded Iris Recognition Instrument
9.6.4 Contact Iris Collector
9.6.5 Cabinet Type Iris Recognition Machine
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 Access Control System
9.10.2 Printer
9.10.3 Computer
9.10.4 Management Software
9.10.5 Electronic Equipment
9.10.6 Wearable Device
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 Iris Smart Lock
10.6.2 Handheld Iris Terminal
10.6.3 Embedded Iris Recognition Instrument
10.6.4 Contact Iris Collector
10.6.5 Cabinet Type Iris Recognition Machine
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 Access Control System
10.10.2 Printer
10.10.3 Computer
10.10.4 Management Software
10.10.5 Electronic Equipment
10.10.6 Wearable Device
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 Iris Smart Lock
11.6.2 Handheld Iris Terminal
11.6.3 Embedded Iris Recognition Instrument
11.6.4 Contact Iris Collector
11.6.5 Cabinet Type Iris Recognition Machine
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 Access Control System
11.10.2 Printer
11.10.3 Computer
11.10.4 Management Software
11.10.5 Electronic Equipment
11.10.6 Wearable Device
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 Iris Smart Lock
12.6.2 Handheld Iris Terminal
12.6.3 Embedded Iris Recognition Instrument
12.6.4 Contact Iris Collector
12.6.5 Cabinet Type Iris Recognition Machine
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 Access Control System
12.10.2 Printer
12.10.3 Computer
12.10.4 Management Software
12.10.5 Electronic Equipment
12.10.6 Wearable Device
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 Iris Smart Lock
13.6.2 Handheld Iris Terminal
13.6.3 Embedded Iris Recognition Instrument
13.6.4 Contact Iris Collector
13.6.5 Cabinet Type Iris Recognition Machine
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 Access Control System
13.10.2 Printer
13.10.3 Computer
13.10.4 Management Software
13.10.5 Electronic Equipment
13.10.6 Wearable Device
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 Machine Market: Competitive Dashboard
14.2 Global Iris Recognition Machine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Iridian
14.3.2 Iriteck
14.3.3 Jiris
14.3.4 IrisKing
14.3.5 Iris World
14.3.6 Panasonic
14.3.7 IRISIAN
