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Dublin, Dec. 20, 2019 (GLOBE NEWSWIRE) — The “Iris Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to’s offering.

The global iris recognition market is expected to grow at a CAGR of around 18% during 2019-2024.

Despite genetic similarities, irises of different individuals are structurally distinct and unique, which allows them to be used for recognition, identification and authentication purposes. Iris recognition, also known as iris scanning, is a method used for identifying individuals based on the unique pattern of their iris. The process utilizes visible and near-infrared light to capture a high-contrast image of the iris.

The technology combines computer vision, pattern recognition, statistical inference and optics. This form of biometric system helps law enforcement officers to compare iris images of a suspect with an existing database. Also, several countries across the globe are implementing these systems in airports, points of entry or exit and other authoritative premises to reduce security breach incidences.

Market Trends

  • Over the past few years, there has been a rise in the number of crimes and the threat of terrorist attacks across the globe. These incidences have prompted government facilities to install high-tech biometric systems to improve security conditions and preventing fraudulent activities. This remains one of the primary factors that are driving the growth of the market.
  • Manufacturers are developing iris recognition technology so that it can be integrated with various devices such as smartphones, banking systems and ATMs. These innovations are attracting investors who are interested in conducting large-scale R&D for applying these designs in real-life applications which, in turn, is influencing the market growth positively.
  • Healthcare providers are making efforts to use iris-recognition for addressing patient identity challenges. The combination of iris biometric technology and healthcare-focused PTOYNet blockchain network will help in delivering improved administrative, financial and clinical efficiencies.

Key Questions Answered

  • How has the global iris recognition market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global iris recognition industry?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the product integration?
  • What is the breakup of the market based on the end-user?
  • What are the various stages in the value chain of the global iris recognition industry?
  • What are the key driving factors and challenges in the global iris recognition industry?
  • What is the structure of the global iris recognition industry and who are the key players?
  • What is the degree of competition in the global iris recognition industry?

Key Topics Covered

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Iris Recognition Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Component
5.4 Market Breakup by Product Integration
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast

6 Market Breakup by Component
6.1 Hardware
6.2 Software

7 Market Breakup by Product Integration
7.1 Smartphone
7.2 Tablet and Notebook
7.3 Scanner
7.4 PC/Laptop
7.5 Smartwatches
7.6 Others

8 Market Breakup by End-User
8.1 Government
8.2 Transportation
8.3 Healthcare
8.4 Others

9 Market Breakup by Region

10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BioEnable
14.3.2 Iris ID
14.3.3 IrisGuard
14.3.4 M2SYS Technology
14.3.5 IriTech, Inc.
14.3.6 SRI International
14.3.7 Crossmatch
14.3.8 EyeLock LLC
14.3.9 IDEMIA
14.3.10 Rubitherm Technologies GmbH

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