Contactless Biometrics Technology Market Size, Contactless Biometrics Technology Market Share, Contactless Biometrics Technology Market Growth, And Industry Analysis, By Type (Hardware, Software, And Service) By Application (Government, Banking And Finance, Consumer Electronics, Healthcare, Transport And Logistics, Defence And Security & Others), Regional Insights and Forecast To 2033

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CONTACTLESS BIOMETRICS TECHNOLOGY MARKET REPORT OVERVIEW

Global Contactless Biometrics Technology Market size was projected at USD 12.98 billion in 2024 and is anticipated to reach USD 53.89 billion by 2033, registering a CAGR of 16.9% during the forecast period.

The Contactless biometric technology is one of the advanced personal authentication technologies used for secure and contactless personal authentication of an individual. This isa biometric system in which the user does not need to make physical contact with the authentication system, as against the conventional system which mostly requires finger print authentication. Although, this conventional method of authentication is secure and reliable, necessity has arisen in recent times for an authentication system with similar or even higher grade of security & privacy, especially in wake of the global COVID pandemic in 2020.

Contactless biometric technology comprises of face, voice, palm, fingerprint, or eye/iris recognition technology which completely relies over a robust camera/sound recorder technology. The usage of biometrics in a contactless form provides the benefits of secure & encrypted financial transactions, marking remote attendances, securing premise access, preventing unauthorized login and others. Without the fear of catching any contagious disease. Contactless biometrics technology simplifies the user authentication process, offering a convenient and user-friendly experience. Users no longer need to remember complex passwords or carry physical tokens, thus enhancing their satisfaction.

COVID-19 IMPACT

Market Growth Restrained By Pandemic Due To Supply Chain Disruption

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic level.

Impact of pandemic on contactless biometrics technology was that like face and iris recognition were being forced to adapt to the emergent threat. Biometric AI and ML algorithms were being pushed to new heights to extend governments’ protective, monitoring and screening reach. But in contrast, applications that rely on fingerprint and vein recognition modalities started suffering a significant loss, as they were heavily reliant on contact-only sensing technology – which poses a great hygienic risk and severely limits infectious control protocols

LATEST TRENDS

"Smart Features in Contactless Biometrics Technology to Drive Market Growth"

Contactless Biometrics system has now mostly become an indispensible part of our lives. Acceptance and awareness about this system has exponentially increased among millions of users worldwide in past few years and hence has allowed its penetration into every sector such as Fintech, HealthCare, Telecom, Banking, Military, Homeland security to name a few. Moreover, with the significant emergence of Internet of Things (IoT) in recent times, the service providers have started providing additional layer of security and trust among the users particularly in the networkable devices. These devices require extra care in so far as security and privacy is concerned.

CONTACTLESS BIOMETRICS TECHNOLOGY MARKET SEGMENTATION

By Type

Based on type the global market Contactless Biometrics Technology can be categorized into Hardware, Software and Service.

• Hardware: Segmentation of the contactless biometrics technology market based on the type of hardware components helps stakeholders understand the requirements of technologies, performance characteristics, and integration capabilities of contactless biometric systems technological market.

• Software: Segmentation of the contactless biometrics technology market in terms of software can be divided in various aspects. They are Biometrics Modality Software, Authentication and Verification Software, Integration and Middleware Software, Analytics and Reporting Software, Customization and Development Software.

• Service: Segmentation of the contactless biometrics technology market in terms of services have various aspects. They are Consulting Services, Research and Data Analytics Services, Market Segmentation Services, Strategic Planning and Implementation Services, Training and Support Services.

By Application

Based on type the global market Contactless Biometrics Technology can be categorized into Government, Banking and Finance, consumer Electronics, Healthcare, Transport and Logistics, defence and Security & others.

• Government: Segmentation of the contactless biometrics technology market with an aim to have government’s focus can be organized based on various aspects. They are Application Segmentation, technology Segmentation, End- User Segmentation, Geographical Segmentation.

• Banking and Finance: Segmentation of the contactless biometrics technology market within the banking and finance sector are Mobile Banking and Payments, Online Banking, ATM access control, Transaction authorization, Identity Verification, Customer On boarding , Customer Service.

• Consumer Electronics: Segmentation of the contactless biometrics technology market within the consumer electronics sector can be integrated along several hardware devices such as smart phones, tablets, wearable electronics, smart home devices and others. Biometrics technologies such as Iris/eye/facial/voice recognition, fingerprint scanners and behavioural patterns and others. In so far as applications are concerned, Biometric authentication methods used in Device Unlocking, Mobile Payments, Health & Wellness and Entertainment/Gaming and many more.

• Healthcare: Segmentation of the contactless biometrics technology market in the healthcare sector can be categorized along several usages such as patient identification and authentication, Electronic Health Records (EHR) Access Control, Medication Management, Healthcare Provider Authentication, Telemedicine and Remote Patient Monitoring.

• Transport & Logistics: Segmentation of the contactless biometrics technology market in the Transport & Logistics sector can be categorized along diverse lines such as Airport Security and Passenger Processing, Airports and Airlines, Freight and Logistics Companies and others.

• Defence and Security: Segmentation of the contactless biometrics technology market in the Transport & Logistics sector can be categorized along various features such as Access/Border control, Surveillance & Monitoring, Weapons & Installations Security and others. Technology usage is again based on Iris/eye/facial/voice recognition, fingerprint scanners and behavioural patterns and others. End-users primarily utilizing the services are Law Enforcement Agencies, Military, Private/govt. Firms and others.

Driving Factors

"Security Enhancement Demands to Strengthen Physical and Digital Access to boost the market"

In a time of widespread identity theft, cyber attacks, and data breaches, conventional security methods have become progressively less effective. As such, there is a growing need to strengthen both physical and digital access points with stronger authentication mechanisms. Compared to conventional password- or token-based systems, contactless biometrics technology ensure a better level of security by using distinct biological indicators for identification. This makes them an appealing choice. Security measures are greatly strengthened by the irreplaceable nature of biological qualities like fingerprints, facial features, iris patterns, or behavioural peculiarities. The ability of this technology to authenticate people using unique, hard-to-replicate characteristics has drawn interest from a variety of companies, particularly those that handle sensitive data or operate in high-security settings. The need for contactless biometrics keeps growing as organizations and companies place a higher priority on protecting sensitive information and preventing unwanted access, making it a key factor in the transformation of contemporary security paradigms.

"Increase in Government Initiatives boosts the market"

Governments everywhere are realizing how important contactless biometric technology is in enhancing security, expediting citizen services, and thwarting identity theft. Governments have been leading efforts to introduce biometric identification systems for passports, national IDs, border control, and social welfare programs as a means of improving national security measures. These programs seek to reduce identity-related crimes, strengthen authentication procedures, and guarantee the accuracy of official documentation. Furthermore, governments are using biometric technology in the public sector to expedite procedures, enable safe access to government services, and effectively distribute rewards. Governments are increasingly playing a major role in driving the adoption of biometric technology. By endorsing and implementing these systems, they create norms and precedents for other industries, which encourages the integration of contactless biometrics in fields outside of government administration. In addition to strengthening security measures, the strategic alignment of government goals with contactless biometrics is essential in creating a more efficient and safe digital environment for both individuals and companies.

RESTRAINING FACTORS

"High Deployment and Installation Cost to Potentially Impede Market Growth"

Similar to every other technological privilege offered to the humankind, there are certain restraints and limitations to the Contactless Biometrics system also. High Deployment and installation cost compared to the conventional contact biometric system. Usage of additional advanced equipment such as Ultra High Definition cameras and refined voice system also lead to additional cost enhancement. High maintenance cost apart from the aforesaid deployment/installation cost, due to usage of sophisticated iris/retina scanners and voice recorders.

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CONTACTLESS BIOMETRICS TECHNOLOGY MARKET REGIONAL INSIGHTS

"North America to Dominate Market Due To Early Adoption Of Latest Technologies In Commercial Market"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is estimated to account for the highest market share in the contactless biometrics technology market share. The contactless biometrics technology market in North America is driven by the early adoption of latest technologies in commercial sector. Due to rising security concern the region have increased the demand contactless biometrics technology market to maintain high level security. The demand in this region has increased to provide solutions by payment solution providers to offer secure transactions to their customers in the region is further expected to drive regional growth. Increasing demand for contactless biometrics solutions by payment solution providers to offer secure transactions to their customers in the region is further expected to drive regional growth.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The contactless biometrics technology market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess contribution to the advancement and innovation of biometric authentication solutions for various industries and applications.

List of Top Contactless Biometrics Technology Companies

• Touchless Biometric Systems AG (Switzerland)
• Fingerprint Cards AB ( Sweden )
• IDEMIA (France )
• nViaSoft (""U.S.)
• Fujitsu Limited ( Japan)
• NEC Corporation ( Japan)
• Gemalto N.V. ( Netherlands)

INDUSTRIAL DEVELOPEMENT

June 2022- Moqi launched new solutions crafted to facilitate contactless scanning, especially during a period marked by heightened apprehensions surrounding the transmission of COVID-19 and other contagions.Top of Form

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the contactless biometrics technology market. It has examined various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trend in the coming years. The analysis takes into account both current trends and historical facts & figures, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report also looks into in to market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.