Dublin, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The "Iris Biometrics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Iris Biometrics is estimated at US$3.5 Billion in 2023 and is projected to reach US$7.7 Billion by 2030, growing at a CAGR of 12.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the iris biometrics market is driven by several factors, including advancements in technology, increasing concerns over security and identity fraud, and the integration of biometrics into mobile devices. The rise in international travel and the subsequent need for robust border security systems have also significantly contributed to the expansion of this market. Additionally, the widespread adoption of digital banking solutions and the need for secure transaction methods are accelerating the deployment of iris recognition technologies in the financial sector.
Consumer behavior has also influenced market growth; as digital interactions and transactions become more prevalent, there is a growing demand for authentication methods that are both secure and user-friendly. Furthermore, government initiatives to implement biometric identification systems for national security and public administration - such as national ID programs and voter registration - provide a substantial boost to the demand for iris biometrics.
These factors, combined with ongoing research and development leading to more accessible and cost-effective solutions, ensure that the iris biometrics market continues to grow, reflecting its increasing importance in a security-conscious world.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Iris Biometrics Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Iris Biometrics Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Iris Biometrics Hardware segment, which is expected to reach US$2.8 Billion by 2030 with a CAGR of a 10.2%. The Iris Biometrics Software segment is also set to grow at 13.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $817.3 Million in 2023, and China, forecasted to grow at an impressive 14.8% CAGR to reach $1.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as HID Global Corporation, Bioenable Technologies Pvt., Ltd., Daon, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 389 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.5 Billion |
| Forecasted Market Value (USD) by 2030 | $7.7 Billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
MARKET OVERVIEW
- An Introduction to Biometrics Technology
- Physiological and Behavioral Characteristics
- Verification and Identification
- Biometrics Technology: Using Biological Traits for Identification & Verification
- Iris Biometrics Technology: A Prelude
- How It Works?
- Iris Biometrics Market: Uniqueness of Human Iris Enables Use as Identification Technology
- Global Market Prospects & Outlook
- Iris Scanners Hold Major Share of the Market
- Contactless Identification Presents Iris Biometrics as Ideal Technology for Healthcare Sector
- Iris Recognition Gains Marked Adoption across Diverse Verticals
- Developing Economies to Spearhead Future Adoption of Iris Biometrics
- Competition
- World Brands
- Recent Market Activity
- Iris Biometrics - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Cloud Solutions Boost Adoption of Iris Recognition Technologies
- Blockchain & Iris Recognition Opens Opportunities for Identity Verification in Various Industries
- Border Control & Immigration Emerges as a Promising Market for Biometric Systems
- Rising Prominence of Iris Biometrics for Travel & Immigration Control
- National ID Programs Build Opportunities for Iris Biometric Systems
- Penetration of Iris Technology in Consumer Electronics Continues to Grow
- Growing Role of Biometrics in Addressing Fraud and Security Breaches to Propel Use of Iris Recognition Technology in BFSI Industry
- Iris Biometrics Poised for Strong Growth in BFSI Sector
- Rise in Internet and Mobile Banking: A Business Case for Iris Recognition Market
- Biometrics-based Authentication at ATMs on Rise
- Rise in ATM Installations Presents Opportunity for Iris Biometrics
- Demand for Iris Biometric Systems Rises from Law Enforcement Agencies
- Prisons & Detention Centers Bank on Iris Biometrics
- Automobile Industry: A New Growth Avenue
- Iris Biometrics Poised for a Larger Role in Airport Sector
- Iris Recognition to Expedite Check In and Boarding at Airports
- Healthcare Emerges as a High Growth Market for Iris Biometrics
- Iris Biometrics Well Suited to Mitigate Hospital Patient Identification Issues
- Physical Access Control Implementations: A Notable Application of Iris Biometric Technology
- System & Network Access Control Presents Considerable Market Opportunity
- Use of Iris Biometrics for Attendance & Workforce Management to Grow in Prominence
- Iris Biometrics Set to Leverage Campus/University Applications
- E-Commerce Sector Presents Significant Opportunity for Iris Recognition Technology
- Technology Integration Gives Rise to Multi-Modal Applications
- Technology Developments to Transform the Iris Biometrics Market
- Advanced Hand Held Devices to Bring Portability to Iris Biometrics
- Key Issues Facing the Iris Biometrics Market
FOCUS ON SELECT PLAYERS(Total 40 Featured)
- HID Global Corporation
- Bioenable Technologies Pvt., Ltd.
- Daon, Inc.
- Iris ID Systems, Inc.
- Anviz Global, Inc.
- DTS, Inc.
- IriTech, Inc.
- Dermalog Identification Systems GmbH
- Aditech Ltd.
- Biomatiques Identification Solutions Pvt., Ltd.
- IDEMIA France SAS
- Aware, Inc.
- Bayometric
- Infinity Optics Solutions Pte. Ltd.
- HONGBOG
For more information about this report visit https://www.researchandmarkets.com/r/j5w1up
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