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Iris Recognition Market Worth $8.4 billion by 2027 - Exclusive Report by MarketsandMarkets™CHICAGO, Nov. 18, 2022 /PRNewswire/ -- Iris recognition market is projected to grow from USD 3.7 billion in 2022 to USD 8.4 billion by 2027, registering a CAGR of 15.4% during the forecast period according to a new report by MarketsandMarkets™. The market growth is attributed to the increased use of iris recognition technology in the travel & immigration industry and the high demand for iris recognition from offices and commercial sectors. Furthermore, the rising adoption of iris recognition in the banking & finance industry to avoid fraudulent activities is expected to create lucrative opportunities for the market.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141994093 Browse in-depth TOC on "Iris Recognition Market" 157 – Tables Identity management & access control application accounted for larger share of iris recognition market in 2022. Identity management & access control application accounted for a larger share of the iris recognition market in 2022 and is expected to remain dominant throughout the forecast period. Iris recognition solutions are used in various verticals for identity management and access control applications. For example, in the banking & finance vertical, iris recognition systems are used by customers to access their bank accounts and employees to log in to their workstations. In the travel & immigration vertical, iris recognition systems prevent illegal immigrants from entering the country using fraudulent travel documents. In many airport terminals, these biometric systems are deployed to enhance the convenience, speed, and efficiency of border-crossing formalities for legitimate travelers. Many government organizations use iris recognition technology for identification and authentication purposes. Software component to lead iris recognition market during the forecast period. The software component is expected to hold higher opportunities than the hardware component between 2022 and 2027. The software component has been sub-segmented into iris recognition software & SDK, database, and analytics solution, among others. At present, iris recognition software & SDK account for a larger market share than hardware components, and a similar trend is likely to continue in the near future. Furthermore, the presence of various major players who offer this software, such as Iris Access, EyeLock LLC, Neurotechnology, and others, further drives the market growth. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=141994093 Asia Pacific market to offer signficant opportunities during the forecast period. Asia Pacific is the leading market for iris recognition in the consumer electronics vertical, with major demand from China, India, and Japan. The region held the largest share of the iris recognition industry in 2021. China and India are key countries contributing to the market growth in Asia Pacific. North America expected to account for the second-largest share of the iris recognition market throughout the forecast period. The US and Canada are significant demand-generating countries for iris recognition devices in this region. Key players Key players in the iris recognition market include Thales (France), IDEMIA (France), HID Global Corporation (US), Iris ID, Inc. (US), IriTech, Inc. (US), IrisGuard Ltd. (UK), EyeLock LLC (US), NEC Corporation (Japan), Princeton Identity (US), and CMITech Company, Ltd. (Korea), among others. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=141994093 Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting Related Reports: Biometric System Market by Authentication Type (Single Factor, Fingerprint, Iris, Face, Voice; Multi-factor), Type (Contact-based, Contactless, Hybrid), Offering Type, Mobility, Vertical & Region (2022-2027) Fingerprint Sensor Market by Technology (Capacitive, Optical, Thermal and, Ultrasonic), Type (Area, Touch, and Swipe), Sensor Technology, Product, End–Use Application, and Region (2021-2026) Gesture Recognition and Touchless Sensing Market by Technology (Touch-based, Touchless), Type, Product (Touchless Biometric Equipment, Touchless Sanitary Equipment), Industry and Geography (2021-2026) Access Control Market Size by Offering (Card-based Readers, Biometric Readers, Electronic Locks, Controllers, Software, Services), ACaaS (Hosted, Managed, Hybrid), Vertical, and Region (2021-2026) Automated Fingerprint Identification System Market by Component (Fingerprint Input Modules, Microprocessors/Microcontrollers, Displays, Matchers), Search Type (Tenprint Search, Latent Search), Application, and Geography - Global Forecast to 2020 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. 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