IRIS Recognition Market: By Component Type, By Product Type, By Application Type, By End User and Region
IRIS Recognition Market sizewas valued at US$ 3,489.7 million in 2023 and is poised to grow at a significant CAGR of 13.6% from 2024 - 2030. IRIS recognition technology uses mathematical pattern-recognition techniques on video images of both IRISes, whose complex random patterns are stable, exclusive, and visible from fixed distances. Their uniqueness, stability, and security are the primary factors driving the IRIS recognition market demand. Furthermore, the integration of IRIS scanners in smartphones, increased use in government schemes, rising incidence of fraudulent activities and security concerns, and propelling the IRIS recognition market growth.
The market encourages opportunities in the forecasted period owing to the increasing number of distribution channels, R&D activities, rising demand from the travel/immigration industry, and increased acceptance in private and public organizations. The opportunities were also created by the pandemic due to the requirement for touchless transactions and secure identification technologies. Nowadays, a large number of companies are ready to enter the market due to the continuous digitization of the world which surely increases the demand for security devices that as IRIS technologies. The market growth is curtailed by restraining factors, such as the gap in the user's understanding of the device, high costs, the vulnerability of IRIS recognition systems, and intrusion of privacy. Additionally, some factors driving market expansion include the availability of more technology in both developed and developing nations, improvements to security infrastructure, and growing companie's acceptance of safe and secure devices to prevent online crimes.
Study Period
2024 - 2030Base Year
2023CAGR
13.6%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The market for IRIS recognition is growing due to an upsurge in cases of cybercrime that hurt an individual, especially financially. These days, the world is moving toward digitalization where everything is done online, consequently, the emergence of cybercrime further enhances the demand for IRIS recognition devices. Moreover, cybercrime, terrorist attacks, and a variety of other unlawful activities have raised the demand for high-security systems. The rising demand from various travel and immigration organizations, as well as many government organizations, is another foremost driver of this market that will further hike the demand for these devices. The IRIS recognition market is constrained by the high cost of installing and modification of these devices.
Report Benchmarks |
Details |
Report Study Period |
2024 - 2030 |
Market Size in 2023 |
US$ 3,489.7 million |
Market CAGR |
13.6% |
By Component type |
|
By Application |
|
By End User |
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The global iris recognition market size was valued at US$ 3,489.7 million in 2023 and is projected to grow at a CAGR of 13.6% from 2024 to 2030.
The IRIS scanner is currently the widely used type of IRIS recognition product in the market and the same trend is expected to continue in the near future. The high adoption of IRIS scanners from government, banking & finance, military & defense, and travel & immigration application is the major reason behind the leading position of this segment in the IRIS recognition market.
Bioenable Technologies, IRISguard Inc., Eyelock Inc., Crossmatch Technologies Inc, 3M Cogent Inc., M2SYS Technology, Safran SA, Sri International Inc, IRIS Id Inc, Smartmatic International Corporation, Iritech Inc., BI² Technologies
APAC is the most attractive business region for IRIS recognition products and solution providers due to the growing consumer electronics industry, especially the smartphone market in this region.
IRIS recognition is a biometric authentication technology that captures an image of the eye pattern, converts the IRIS image to a binary template, and then saves the data to a server for the future to match the identity of an individual. Some of the major features of this technology include contactless, fast, accurate, operating at long distances, stable, non-invasive, and hygienic.
1. Executive Summary |
2. Global IRIS Recognition Market Introduction |
2.1. Global IRIS Recognition Market Taxonomy |
2.2. Global IRIS Recognition Market Definitions |
2.2.1. Component Type |
2.2.2. Product Type |
2.2.3. Application |
2.2.4. End User |
2.2.5. Geography |
3. Global IRIS Recognition Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global IRIS Recognition Market Dynamic Factors - Impact Analysis |
3.6. Global IRIS Recognition Market Competition Landscape |
4. Global IRIS Recognition Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global IRIS Recognition Market, By Component Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1. Hardware |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Software |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Global IRIS Recognition Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1. Smartphones |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Wearables |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Tablets & Notebooks |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. PCs/ Laptops |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Scanners |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
7. Global IRIS Recognition Market Forecast, By Application, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1. Identity Management and Access Control |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Time Monitoring |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. E- payment |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8. Global IRIS Recognition Market, By End User, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1. Government |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Military & Defense |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Healthcare |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Banking & Finance |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Consumer Electronics |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
8.6. Travel & Immigration |
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.6.3. Market Opportunity Analysis |
8.7. Automotive |
8.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.7.3. Market Opportunity Analysis |
8.8. Others |
8.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.8.3. Market Opportunity Analysis |
9. Global IRIS Recognition Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030(Revenue, USD Mn) |
9.1. North America |
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global IRIS Recognition Market - Opportunity Analysis Index, By Component Type, Product Type, Application, End User and Region, 2024 - 2030 |
10. North America IRIS Recognition Market Analysis,2019 - 2023and Forecast, 2024 - 2030(Revenue, USD Mn) |
10.1. Component Type Analysis 2019 - 2023and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Hardware |
10.1.2. Software |
10.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.2.1. Smartphones |
10.2.2. Wearables |
10.2.3. Tablets & Notebooks |
10.2.4. PCs/ Laptops |
10.2.5. Scanners |
10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.3.1. Identity management and Access Control |
10.3.2. Time Monitoring |
10.3.3. E-Payment |
10.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.4.1. Government |
10.4.2. Military & Defense |
10.4.3. Healthcare |
10.4.4. Banking & Finance |
10.4.5. Consumer Electronics |
10.4.6. Travel & Immigration |
10.4.7. Automotive |
10.4.8. Others |
10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America IRIS Recognition Market - Opportunity Analysis Index, By Component Type, Product Type, Application, End User and Country, 2024 - 2030 |
10.7. North America IRIS Recognition Market Dynamics Trends |
11. Europe IRIS Recognition Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
11.1. Component Type Analysis 2019 - 2023and Forecast 2024 - 2030 by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Hardware |
11.1.2. Software |
11.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.2.1. Smartphones |
11.2.2. Wearables |
11.2.3. Tablets & Notebooks |
11.2.4. PCs/ Laptops |
11.2.5. Scanners |
11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Identity management and Access Control |
11.3.2. Time Monitoring |
11.3.3. E-Payment |
11.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.4.1. Government |
11.4.2. Military & Defense |
11.4.3. Healthcare |
11.4.4. Banking & Finance |
11.4.5. Consumer Electronics |
11.4.6. Travel & Immigration |
11.4.7. Automotive |
11.4.8. Others |
11.5. Country Analysis 2019 - 2023and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Russia |
11.5.7. Poland |
11.5.8. Rest of Europe |
11.6. Europe IRIS Recognition Market - Opportunity Analysis Index, By Component Type, Product Type, Application, End User, and Country, 2024 - 2030 |
11.7. Europe IRIS Recognition Market Dynamics Trends |
12. Asia-Pacific IRIS Recognition Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
12.1. Component Type Analysis 2019 - 2023and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Hardware |
12.1.2. Software |
12.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.2.1. Smartphones |
12.2.2. Wearables |
12.2.3. Tablets & Notebooks |
12.2.4. PCs/ Laptops |
12.2.5. Scanners |
12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.3.1. Identity management and Access Control |
12.3.2. Time Monitoring |
12.3.3. E-Payment |
12.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.4.1. Government |
12.4.2. Military & Defense |
12.4.3. Healthcare |
12.4.4. Banking & Finance |
12.4.5. Consumer Electronics |
12.4.6. Travel & Immigration |
12.4.7. Automotive |
12.4.8. Others |
12.5. Country Analysis2019 - 2023and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. Japan |
12.5.2. China |
12.5.3. India |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific IRIS Recognition Market - Opportunity Analysis Index, By Component Type, Product Type, Application, End User and Country,2024 - 2030 |
12.7. Asia-Pacific IRIS Recognition Market Dynamics Trends |
13. Latin America IRIS Recognition Market Analysis,2019 - 2023 and Forecast, 2024 - 2030(Revenue, USD Mn) |
13.1. Component Type Analysis 2019 - 2023and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
13.1.1. Hardware |
13.1.2. Software |
13.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.2.1. Smartphones |
13.2.2. Wearables |
13.2.3. Tablets & Notebooks |
13.2.4. PCs/ Laptops |
13.2.5. Scanners |
13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.3.1. Identity management and Access Control |
13.3.2. Time Monitoring |
13.3.3. E-Payment |
13.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.4.1. Government |
13.4.2. Military & Defense |
13.4.3. Healthcare |
13.4.4. Banking & Finance |
13.4.5. Consumer Electronics |
13.4.6. Travel & Immigration |
13.4.7. Automotive |
13.4.8. Others |
13.5. Country Analysis 2019 - 2023and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Argentina |
13.5.4. Rest of Latin America |
13.6. Latin America IRIS Recognition Market - Opportunity Analysis Index, By Component Type, Product Type, Application, End User and Country, 2024 - 2030 |
13.7. Latin America IRIS Recognition Market Dynamics Trends |
14. Middle East and Africa IRIS Recognition Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
14.1. Component Type Analysis 2019 - 2023and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
14.1.1. Hardware |
14.1.2. Software |
14.2. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.2.1. Smartphones |
14.2.2. Wearables |
14.2.3. Tablets & Notebooks |
14.2.4. PCs/ Laptops |
14.2.5. Scanners |
14.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.3.1. Identity management and Access Control |
14.3.2. Time Monitoring |
14.3.3. E-Payment |
14.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.4.1. Government |
14.4.2. Military & Defense |
14.4.3. Healthcare |
14.4.4. Banking & Finance |
14.4.5. Consumer Electronics |
14.4.6. Travel & Immigration |
14.4.7. Automotive |
14.4.8. Others |
14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. Israel |
14.5.3. South Africa |
14.5.4. Rest of MEA |
14.6. MEA IRIS Recognition Market - Opportunity Analysis Index, By Component Type, Product Type, Application, End User and Country, 2024 - 2030 |
14.7. MEA IRIS Recognition Market Dynamics Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Component Type& Service Product Types, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. Bioenable Technologies |
15.2.2. IRISguard Inc. |
15.2.3. Eyelock Inc. |
15.2.4. Crossmatch Technologies Inc |
15.2.5. 3M Cogent Inc. |
15.2.6. M2SYS Technology |
15.2.7. Safran SA |
15.2.8. Sri International Inc |
15.2.9. IRIS Id, Inc. |
15.2.10.  Smartmatic International Corporation |
15.2.11. Iritech Inc. |
15.2.12. BI² Technologies |
15.2.13. Biomatiques Identification Solution |
15.2.14. EyeSmart Technology |
15.2.15. EyeVerify |
16. Research Methodology |
17. Key Assumptions and Acronyms |
Key Market Players