For many years, iris recognition was largely a technology constrained to works of science fiction, being hamstrung by a major conceptual patent remaining in force until 2005. However, in the following years, more than 10 well-qualified manufacturers of iris recognition hardware, all with market presence and awareness, along with various software providers, have launched around the world, thereby making the technology a reality across a variety of geographic regions and use cases. Iris recognition is now gaining traction as a secure and consumer-friendly biometric modality, thanks to growing competition and innovation as well as successful deployments of pilot programs around the world.
Iris recognition presently requires photography in the infrared (IR) light spectrum. Traditionally, iris recognition has been the domain of purpose-built devices for industrial use cases, such as defense, border control, and in-the-field distribution of charitable aid. However, recent product releases have shown IR cameras and light sources integrated into smartphones and tablets, which opens up a new world of use cases for iris recognition. Despite the introduction of these new hardware components, other modalities, such as voice and facial recognition, have been able to use existing, consumer-grade microphones and cameras as inputs, and thereby can be deployed more widely without incurring additional hardware costs. Tractica forecasts that iris recognition biometrics revenue will increase from $631.6 million in 2016 to $4.1 billion in 2025, at a compound annual growth rate (CAGR) of 23.1%.
This Tractica report examines the market for iris recognition biometrics hardware, including 10-year forecasts for the period from 2016 through 2025. The report examines 20 use cases specific to iris recognition. The report forecasts revenue and device shipments for standalone devices and integration into mobile devices. Within each world region, market forecasts are further segmented by industry and use case. The report also includes profiles of 24 key industry players in the iris recognition market.
Key Questions Addressed:
- What is the size of the market for iris recognition devices by region, industry, and use case?
- What are the likely device shipments and revenue for standalone iris recognition devices by region, industry, and use case?
- What are the likely device shipments and revenue for mobile device iris imaging components by region, industry, and use case?
- Which industries represent the largest potential markets for iris recognition?
- What are the key use cases that will drive growth of the iris recognition market?
- How do iris recognition products differentiate themselves?
Who Needs This Report?
- Iris recognition software companies
- Mobile network operators
- Mobile device manufacturers
- Enterprise users of biometrics
- Solution providers to vertical markets
- Systems integrators
- Government agencies
- Investor community