The iris recognition market size is expected to grow at a CAGR 10% during the forecast period 2021-2026. Key factor driving the market is high adoption of iris recognition technology by government organizations for identification and authentication purposes.
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APAC is expected to account for the largest share of the iris recognition market during the forecast period. APAC is the most attractive business destination for iris recognition products and solution providers due to the growing consumer electronics industry, especially the smartphone market in this region. Samsung Electronics (South Korea), an essential smartphone and tablet manufacturer, which has adopted iris recognition technology to increase the safety and security features of its latest devices, has its manufacturing facilities located in this region. This factor is also positively impacting the growth of the iris recognition market in APAC.
Key Market Players include Thales Group (France), IDEMIA (France), Iris ID (US), IriTech (US), and HID Global (US).
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