Iris Recognition Market 3627.90 Million USD by 2020

PUNE, India, September 28, 2015 /PRNewswire/ --

According to a new market research report "Iris Recognition Market by Component (Hardware & Software), Product (Scanner & Others), Application (Access Control & Others), Industry (Travel & Immigration, Military & Defense, & Others) & Geography Global - Forecast to 2020", published by MarketsandMarkets, the Iris Recognition Market is expected to reach USD 3627.90 Million by 2020, at a CAGR of 23.40% between 2015 and 2020.

Browse 65 market data Tables and 66 Figures spread through 147 Pages and in-depth TOC on "Iris Recognition Market"

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In today's world of information technology, security for systems is becoming more and more important. Moreover, occurrences of terrorist attacks, cybercrimes, and other cross-border illegal activities have led to the need of high security systems. Iris recognition is one of the accurate and secured technologies for identifying a person by analyzing the random pattern of the iris. It uses the camera technology with near infrared illumination to capture high resolution-based images of an iris which are visible externally. The technology is accurate, easy to use, and difficult to forge. The growth of this market is propelled by applications in government, military & defense, banking & finance, consumer electronics, travel & immigration and so on. Currently, the world's leading OEMs from consumer electronics to automotive are focused on incorporating the iris recognition technology in their offerings.

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In the report, a detailed segmentation of the Iris Recognition Market on the basis of component, product, application, industry, and geography has been provided, which covers all existing and emerging technologies in the market. The report also covers qualitative as well as quantitative data related to the market key insights.

One of the objectives of the report has been to analyze market trends for each of the iris recognition market segments and their respective growth rate. Apart from the market segmentation, the report also covers in-depth analyses such as the Porter's five forces analysis and the value chain analysis with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the iris recognition market.

The market size for iris recognition is included in the report by taking four geographic regions into account, namely, the Americas, Europe, Asia-Pacific, and Rest of the World (RoW). The American region is estimated to account for a large share of the iris recognition market during the forecast period, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific is expected to grow at the highest rate.

Major players in this market include Siemens AG (Germany), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Schneider Electric SA (France), ABB, Ltd. (Switzerland), Honeywell International (U.S.), Mitsubishi Electric (Japan), Yokogawa Electric (Japan), Rockwell Automation (U.S.), and Johnson Controls (U.S.).

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