The Iris Recognition Market is projected to grow significantly by 2032

From GlobeNewswire: 2025-05-08 02:00:00

The Iris Recognition Market is projected to grow from USD 4.41 Billion in 2023 to USD 19.13 Billion by 2032, with a CAGR of 17.74%. This growth is driven by the need for secure authentication and advancements in sensor technology. The US market alone is estimated to reach USD 5.16 Billion by 2032.

Key players in the market include IriTech, Inc., IrisGuard Ltd., NEC Corporation, Thales Group, and IDEMIA. Hardware dominated the market in 2023, while software is expected to have the highest CAGR. Scanners and smartphones are major product segments, with identity management and access control being the leading application.

North America currently leads the Iris Recognition Market, with a 34.8% share in 2023. The Asia Pacific region is poised for rapid growth due to government initiatives and increasing mobile banking. Recent developments include World introducing digital IDs with iris-scanning technology and Customs and Border Protection expanding biometric iris recognition for border security.



Read more at GlobeNewswire: Iris Recognition Market Size to Surpass USD 19.13 Billion