Global Iris Recognition Market Value Expected to Grow at a CAGR 10% During 2021-2026

Whipsmartmi.com offers "Global Iris Recognition Market 2021-2026" from its research database.

The iris recognition market size is expected to grow at a CAGR 10% during the forecast period 2021-2026.

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Key factor driving the market is high adoption of iris recognition technology by government organizations for identification and authentication purposes. The increasing penetration of iris recognition technology in the consumer electronics vertical and high demand for iris scanners for the access control application are a few other key factors positively impacting the growth of the iris recognition industry.

Scanners are expected to dominate the market, in terms of size, during the forecast period. The high adoption of iris scanners from government, banking & finance, military & defense, and travel & immigration verticals, especially for the identity management and access control application, is the primary reason behind the largest share of this segment in the iris recognition market.

The market for the e-payment application is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the growing demand for iris recognition technology to authenticate the user making e-payments. This will help curb the cases of identity fraud and internet fraud and make e-payments more safe and secure.
Key Market Players include Thales Group (France), IDEMIA (France), Iris ID (US), IriTech (US), and HID Global (US).

Key Questions Addressed by the Report

· Where will all these developments take the industry in the mid to long term?
· What are the emerging applications of iris recognition technology?
· How are advancements in consumer electronics and other verticals influencing the iris recognition market?
· Which type of iris recognition product is expected to penetrate significantly in the market?
· Which countries are expected to witness significant growth in the market?

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