Global Iris Recognition Market (2022 to 2027) – Featuring Aware, Bi Technologies, Bioenable Technologies and BioID Among Others – ResearchAndMarkets.com

Global Iris Recognition Market (2022 to 2027) – Featuring Aware, Bi Technologies, Bioenable Technologies and BioID Among Others – ResearchAndMarkets.com

  • Technology
  • July 4, 2022
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  • 7 minutes read


DUBLIN – (BUSINESS THREAD) – The report “Global Iris Recognition Market (2022-2027) by component, product, application, vertical, geography, competitive analysis and the impact of the Covid-19 with the analysis has been added Ansoff “a ResearchAndMarkets.com’s offering.

The global iris recognition market is estimated to be $ 2.83 billion in 2022 and is projected to reach $ 5.08 billion in 2027, growing at a CAGR of 12.41%.

Market dynamics are forces that affect the prices and behaviors of global iris recognition market stakeholders. These forces create price signals that result from changes in the supply and demand curves of a given product or service. The forces of market dynamics may be related to macroeconomic and microeconomic factors. There are dynamic market forces other than price, demand and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As market dynamics affect supply and demand curves, decision makers aim to determine how best to use various financial tools to curb various strategies to accelerate growth and reduce risks.

Competitive quadrant

The report includes Competitive Quadrant, a proprietary tool for analyzing and evaluating the position of companies based on their industry position score and market performance score. The tool uses several factors to categorize players into four categories. Some of these factors considered for the analysis are the financial performance of the last 3 years, growth strategies, innovation score, launch of new products, investments, market share growth, etc.

Ansoff analysis

The report presents a detailed analysis of the Ansoff matrix for the global iris recognition market. Ansoff Matrix, also known as Product / Market Expansion Grid, is a strategic tool used to design strategies for business growth. The matrix can be used to evaluate approaches in four strategies, namely. Market development, market penetration, product development and diversification. The matrix is ​​also used for risk analysis to understand the risk involved in each approach.

The analyst analyzes the global iris recognition market using the Ansoff matrix to offer the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry actors, the analyst has devised appropriate strategies for market growth.

Why buy this report?

  • The report provides a comprehensive assessment of the global iris recognition market. The report includes an in-depth qualitative analysis, verifiable data from authentic sources and market size projections. Projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The main research is done through interviews, surveys and observation of recognized personnel in the sector.

  • The report includes an in-depth market analysis using the Porter 5 forces model and the Ansoff matrix. In addition, the impact of Covid-19 on the market also appears in the report.

  • The report also includes the industry regulatory scenario, which will help you make a well-informed decision. The report analyzes the main regulatory bodies and the main rules and regulations imposed on this sector in various geographies.

  • The report also contains the competitive analysis using Positioning Quadrants, the analyst’s proprietary competitive positioning tool.

Market dynamics

Drivers

  • Growing adoption of iris recognition technology by government organizations for identification and authentication purposes

  • Increased penetration rate of iris recognition technology in consumer electronics

  • Increased demand for iris scanners in the access control application

  • Increasing use of iris recognition technology in e-passport programs

Restrictions

  • Fear of intrusion and inconvenience to privacy

  • Presence of several competing biometric technologies

Opportunities

  • Penetration of biometric technologies in the automotive industry

  • Integration of Cloud Computing with Iris recognition technology

  • Use of iris recognition technology in e-commerce

Challenges

  • Complexity of integrating iris recognition technology into conventional identification solutions

Market segmentation

The global iris recognition market is segmented based on component, product, application, vertical, and geography.

  • By components, the market is classified into hardware and software.

  • By product, the market is classified into smartphones, wearables, tablets and laptops, personal / laptop computers and scanners.

  • By application, the market is classified into Identity Management and Access Control, Time Monitoring and Electronic Payment.

  • Vertically, the market is classified into government, military and defense, healthcare, banking and finance, consumer electronics, travel and immigration, automotive and others.

  • By geography, the market is classified in America, Europe, the Middle East and Africa and Asia-Pacific.

Mentioned companies

  • Aware Inc.

  • Bi Technologies

  • Biohabilitable Technologies

  • BioID

  • CMI Tech

  • DERMALOG Identification Systems GmbH

  • Eyelock

  • eyeLock LLC

  • HID Global Corp.

  • Idemia

  • Iridescent Technologies

  • Iris ID Inc

  • Irisguard

  • IriTech Inc.

  • Mantra Softtech

  • NEC Corp.

  • Panasonic

  • Princeton identity

  • RisGuard Ltd

  • Secure identity

  • SRI International

  • Tast

  • Thales Group

  • Unisys

For more information on this report, visit https://www.researchandmarkets.com/r/qoyt8x



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