Pune, India -- (SBWIRE) -- 02/23/2018 -- Market Scenario:

The global market of iris recognition is growing rapidly. In the growing digital technology market, consumers are doing shopping from online retail websites and via mobile apps. Retailers across the industry are investing in e-commerce and Omni-channel retailing in order to improve the customer experience as well as to become competitive in the market. Major retail chains such as Wal-Mart, Target, and Costco are deploying several strategies on this front and trying hard to integrate their vast store network with online channel and attracting buyers to do online shopping which thereby boosting the company sales. These growing shifts of consumers towards Omni channel is supporting retailers in preserving their brand value. However, the presence of big e-commerce giants namely Amazon, and Flipkart are a big threat for retail cloud market as they consist of large customer base globally. To subdue this threat, the retail industry is gradually shifting towards Omni channel retailing and trying to integrate the multiple online channels which thereby increasing tendency to spend more than the regular shopping.

Global Iris Recognition market is estimated to reach USD 1.8 billion by 2022 from USD 525 million in 2016 growing with 22% CAGR during forecast period 2016-2022. Geographically, North America is the leading region among Europe, Asia-Pacific and Middle East & Africa. Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. Increasing technology adoption and increasing criminal activities in the region is expected to drive the growth of Iris recognition market in the region.

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Major Key Players:
- 3M Cogent Inc.
- Safran S.A.
- Cross Match Technologies Inc.
- Iris ID, Inc., IriTech
- Inc., Eye Lock
- CMITech Company, Ltd.
- Irisys Co., Ltd.
- Princeton identity
- IBM Corporation

Market Research Analysis:
Regional analysis for iris recognition market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Middle East & Africa. It is estimated that North America would grow with 23% CAGR during forecast period 2016-2022 followed by Europe which is projected to grow with 21% CAGR. Asia-Pacific has emerged as the fastest growing market with 25% CAGR by the end of 2022.

Early adoption of iris biometric system by government of U.S. and Canada for safety on public transport is the major reason behind dominance of North America in iris recognition market. Whereas, due to increasing government initiatives in India and China is fuelling the market growth of Iris recognition in Asia-Pacific region during forecast period 2016-2022.

Key Findings:
- Iris Recognition is expected to grow at compound annual growth rate of approximately 22% from year 2016 to year 2022.
- North America is expected to dominate the market of iris recognition throughout the forecast period.
- By Product segment- Smartphones accounts for largest market share of around 24% in the global market.
- By End-User- Government segment accounts for growing 25% CAGR in the global market followed by BFSI who accounts for 20% CAGR during forecast period 2016-2022

Segments:
Global Iris Recognition can be segmented as follows:

Segmentation by Product: PC & Laptop, Smartwatch, Smartphone, and others.

Segmentation by Component: Hardware and Software

Segmentation by Application: Access Control and Time Control

Segmentation by End-User: Government, BFSI, Consumer Electronics, Healthcare and others.

Target Audience:
- Technology investors
- Government agencies
- Hardware manufacturers
- Software manufacturers
- End-users
- Security providers
- Research/Consultancy firms

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Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
Continued….

List of Tables
Table 1 Iris Recognition Market, By Components
Table 2 Iris Recognition Market, By Applications
Continued….

List of Figures
Figure 1 Research Network Solution
Figure 2 Iris Recognition Market: By Components (%)
Continued….

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