The North America Iris Recognition Market should witness market growth of 15.1% CAGR during the forecast period (2022-2028).
Technology for iris recognition employs mathematical pattern-recognition methods on video images of both irises, wherein intricate random patterns are stable, distinct, and perceptible from particular angles. The market for iris identification is experiencing high demand due to its uniqueness, stability, and security.
The iris pattern is consistent and uses the variety of textures and characteristics found in the iris, including stripes, freckles, coronas, and furrows. They are hence more safe by nature. The market's future looks bright because of potential like the expansion of distribution channels, R&D projects, high demand from the travel and immigration sector, and rising adoption rates in businesses.
Government organisations are also adopting various biometric technologies to reduce cyber threats and streamline system access. For example, one of the first police agencies to adopt iris recognition was the New York City (NYC) Police Department.
Organizations are increasingly using biometrics, giving users another layer of protection to protect themselves, as a result of the significant rise in data breaches in the region across numerous industries. Many governmental organisations have begun using iris scanning technology. For example, the Federal Bureau of Investigation (FBI) depends on its collaborations with local, state, tribal, and federal agencies to create important initiatives like the Next Generation Identification (NGI) systems and the National Crime Information Center (NCIC).
The US market dominated the North America Iris Recognition Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,921.4 million by 2028. The Canada market is poised to grow at a CAGR of 17.7% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 16.6% during (2022-2028).
Based on Application, the market is segmented into Identity Management & Access Control, Time Monitoring and E-Payment. Based on Product, the market is segmented into Scanners, Smartphones, Personal Computers/Laptops, Tablets & Notebooks and Others. Based on Component, the market is segmented into Software and Hardware. Based on Vertical, the market is segmented into Banking & Finance, Consumer Electronics, Military & Defense, Automotive, Government, Travel & Immigration, Healthcare and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Thales Group S.A., IDEMIA SAS (Advent International, Inc.), NEC Corporation, Aware, Inc., M2SYS Technology, Inc., Unisys Corporation, IrisGuard Ltd., Iris ID, Inc, and Princeton Identity, Inc.
Technology for iris recognition employs mathematical pattern-recognition methods on video images of both irises, wherein intricate random patterns are stable, distinct, and perceptible from particular angles. The market for iris identification is experiencing high demand due to its uniqueness, stability, and security.
The iris pattern is consistent and uses the variety of textures and characteristics found in the iris, including stripes, freckles, coronas, and furrows. They are hence more safe by nature. The market's future looks bright because of potential like the expansion of distribution channels, R&D projects, high demand from the travel and immigration sector, and rising adoption rates in businesses.
Government organisations are also adopting various biometric technologies to reduce cyber threats and streamline system access. For example, one of the first police agencies to adopt iris recognition was the New York City (NYC) Police Department.
Organizations are increasingly using biometrics, giving users another layer of protection to protect themselves, as a result of the significant rise in data breaches in the region across numerous industries. Many governmental organisations have begun using iris scanning technology. For example, the Federal Bureau of Investigation (FBI) depends on its collaborations with local, state, tribal, and federal agencies to create important initiatives like the Next Generation Identification (NGI) systems and the National Crime Information Center (NCIC).
The US market dominated the North America Iris Recognition Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,921.4 million by 2028. The Canada market is poised to grow at a CAGR of 17.7% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 16.6% during (2022-2028).
Based on Application, the market is segmented into Identity Management & Access Control, Time Monitoring and E-Payment. Based on Product, the market is segmented into Scanners, Smartphones, Personal Computers/Laptops, Tablets & Notebooks and Others. Based on Component, the market is segmented into Software and Hardware. Based on Vertical, the market is segmented into Banking & Finance, Consumer Electronics, Military & Defense, Automotive, Government, Travel & Immigration, Healthcare and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Thales Group S.A., IDEMIA SAS (Advent International, Inc.), NEC Corporation, Aware, Inc., M2SYS Technology, Inc., Unisys Corporation, IrisGuard Ltd., Iris ID, Inc, and Princeton Identity, Inc.
Scope of the Study
By Application
- Identity Management & Access Control
- Time Monitoring
- E-Payment
By Product
- Scanners
- Smartphones
- Personal Computers/Laptops
- Tablets & Notebooks
- Others
By Component
- Software
- Hardware
By Vertical
- Banking & Finance
- Consumer Electronics
- Military & Defense
- Automotive
- Government
- Travel & Immigration
- Healthcare
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Thales Group S.A.
- IDEMIA SAS (Advent International, Inc.)
- NEC Corporation
- Aware, Inc.
- M2SYS Technology, Inc.
- Unisys Corporation
- IrisGuard Ltd.
- Iris ID, Inc
- Princeton Identity, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Iris Recognition Market by Application
Chapter 5. North America Iris Recognition Market by Product
Chapter 6. North America Iris Recognition Market by Component
Chapter 7. North America Iris Recognition Market by Vertical
Chapter 8. North America Iris Recognition Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Thales Group S.A.
- IDEMIA SAS (Advent International, Inc.)
- NEC Corporation
- Aware, Inc.
- M2SYS Technology, Inc.
- Unisys Corporation
- IrisGuard Ltd.
- Iris ID, Inc
- Princeton Identity, Inc.
Methodology
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