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

DUBLIN--(BUSINESS WIRE)--The "Global Iris Recognition Market (2022-2027) by Component, Product, Application, Vertical, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Iris Recognition Market is estimated to be USD 2.83 Bn in 2022 and is projected to reach USD 5.08 Bn by 2027, growing at a CAGR of 12.41%.

Market dynamics are forces that impact the prices and behaviors of the Global Iris Recognition Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic 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 the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Iris Recognition Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Iris Recognition Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Iris Recognition Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

Market Dynamics

Drivers

• Rising Adoption of Iris Recognition Technology by Government Organizations for Identification and Authentication Purposes
• Increasing Penetration Rate of Iris Recognition Technology in Consumer Electronics
• Surging Demand for Iris Scanners in Access Control Application
• Growing Use of Iris Recognition Technology in E-Passport Programs

Restraints

• Fear of Privacy Intrusion and Inconvenience
• Presence of Various 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 Segmentations

The Global Iris Recognition Market is segmented based on Component, Product, Application, Vertical, and Geography.

• By Component, the market is classified into Hardware and Software.
• By Product, the market is classified into Smartphones, Wearables, Tablets & Notebooks, Personal Computers/Laptops, and Scanners.
• By Application, the market is classified into Identity Management and Access Control, Time Monitoring, and E-Payment.
• By Vertical, the market is classified into Government, Military & Defense, Healthcare, Banking & Finance, Consumer Electronics, Travel & Immigration, Automotive, and Others.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

Companies Mentioned

• Aware Inc
• Bi Technologies
• Bioenable Technologies
• BioID
• CMI Tech
• DERMALOG Identification Systems GmbH
• Eyelock
• eyeLock LLC
• HID Global Corp
• Idemia
• Iridian Technologies
• Iris ID Inc
• Irisguard
• IriTech Inc
• Mantra Softech
• NEC Corp
• Panasonic
• Princeton Identity
• risGuard Ltd
• Secure Identity
• SRI International
• Tascent
• Thales Group
• Unisys

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