Contactless Biometrics Technology Market - Global Industry Analysis

Contactless Biometrics Technology Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5402 Status : Upcoming

Description

Contactless Biometrics Technology Market: Overview

The advent of contactless biometrics technology is a powerful technology used in the identification and authentication of users. Apart from fortification of security, user experience has become a central concern across several domains. Recent advancements in the area of contactless biometrics technology include the use of fingerprint, iris, or face recognition. Not only is contactless biometrics technology highly reliable, efficient, and accurate, it is witnessing escalating demand during the Covid-19 pandemic, when a great emphasis is being laid on hygiene and contactless practices in the social scenario.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Contactless Biometrics Technology Market: Growth Factors

Contactless biometrics technology is increasingly being adopted by the corporate and the government sectors as a user-friendly solution that can perform time attendance, registration, and management of personnel. It does not only save resources, but also assures accuracy in the process. Even during the quarantine period, the contactless biometrics technology offers work at home tracking. Several other applications such as e-payments, using personal computer or mobile device, vehicle or person recognition for video surveillance systems, and identification of individuals by voice or eye iris also use contactless biometrics technology. Furthermore, the contactless biometrics technology is easy to install and does not require highly skilled expertise in the process of system setup.

Contactless biometrics technology such as voice biometrics can be adopted across several important applications such as authentication of high-risk sessions like unusual transactions, password changes, and remote login. The demand for robust theft & fraud detection and prevention systems has risen significantly worldwide, especially across the BFSI sector. It ensures safety, transparency, and reliability to the users. Therefore, the global contactless biometrics technology market is expected to soar over the next few years.

The components such as sensors used in contactless biometrics technology can be quite expensive. The installation costs of the contactless biometrics technology are also high. The progress of the market can also be hampered by lack of awareness and technical education. These can be some restraining factors for the contactless biometrics technology market. However, the market for contactless biometrics technology will continue to expand despite the restraints, by credit of reduction in intrusiveness of biometric authentication. Oftentimes, authentication processes such as entering PIN numbers can cause annoyance and wastage of time due to high frequency of failed attempts. This can be prevented and the user experience enriched through the deployment of contactless biometrics technology in authentication.

Contactless Biometrics Technology Market: Segmentation

The global contactless biometrics technology market can be segmented in terms of components, end-user, type, and region. The major component segments of the contactless biometrics technology market are software and hardware. Iris recognition, face recognition, voice recognition, and fingerprint recognition are some segments based on type.

By end-user, the global contactless biometrics technology market has been categorized into corporate, government, BFSI, healthcare, e-commerce, transport & logistics, education, and defense & security. The BFSI sector is expected to lead the market during the projection period, prompted by the high incidence of cybercrimes such as frauds and thefts.

Contactless Biometrics Technology Market: Regional Analysis

The contactless biometrics technology market in North America is expected to be at the forefront, impelled by rising implementation of advanced technology. Telecom, banking, and financial service providers are some of the topmost adopters of contactless biometrics technology. The Asia Pacific region will also bring in substantial revenue in the global contactless biometrics technology market. The high popularity of smartphones, mobile apps, and web portals across emerging economies such as India is fueling the growth of the Asia Pacific contactless biometrics technology market. During the forthcoming times, the proliferation of machine learning and artificial intelligence will also boost further growth in this region.

Contactless Biometrics Technology Market: Competitive Players

NEC, Thales, Fujitsu, ASSA ABLOY, Fingerprint Cards AB, Touchless Biometric Systems AG, nVIAsoft Corporation, IDEMIA SAS, and Safran are some of the leading market players in the global contactless biometrics technology market. Strategic partnerships and acquisitions are being initiated by the companies in the global contactless biometrics technology market.

Contactless Biometrics Technology Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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