Contactless Biometrics Market Outlook
According to a new report by Expert Market Research titled “The Global Contactless Biometrics Market Size, Share, Analysis, Report and Forecast 2023-2028″ the Contactless Biometrics Market reached a value of approximately USD 18.8 billion in 2022. Aided by the growing demand for seamless and secure identity verification methods and the rising applications of contactless biometrics in various sectors, the market is projected to further grow at a CAGR of 16.40% between 2023 and 2028 to reach a value of USD 21.88 billion by 2028.
Contactless biometrics technologies, such as facial recognition, iris recognition, voice recognition, and fingerprint recognition, among others, have established a solid place in modern identification practices. Offering a non-contact, efficient, and secure method for verifying identities, these technologies have rapidly become a staple in a host of sectors, such as security, healthcare, finance, and more.
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A key driver for the global contactless biometrics market growth is the increasing consumer preference for secure and efficient identity verification solutions. With an escalating awareness of security threats associated with traditional identification methods, there has been a notable shift toward more secure, contactless biometric alternatives. The COVID-19 pandemic has further raised the need for non-contact solutions, leading to an accelerated adoption of contactless biometrics.
Furthermore, the widening applications of contactless biometrics across various sectors serve as another vital propellant for the contactless biometrics market development. The security sector employs these technologies extensively for purposes such as access control, surveillance, and identification. In healthcare, contactless biometrics facilitate patient identification, thus ensuring accurate medical records and mitigating the risk of medical errors. The finance sector relies on these technologies for secure transactions, which aid in fraud prevention and enhance customer experiences, thus increasing the contactless biometrics market demand.
The pressing demand for advanced security solutions in the era of smart cities and the Internet of Things (IoT) has brought contactless biometrics to the forefront. As the rise of smart infrastructure and the increasing interconnectivity of devices continue to shape our digital landscape, the need for robust, secure, and efficient identification methods has surged. As a result, contactless biometrics have become increasingly important for securing access to devices, networks, and facilities, thus bolstering the contactless biometrics market expansion.
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Additionally, the rising demand for secure, convenient, and rapid identity verification solutions, coupled with technological advancements in Artificial Intelligence (AI) and machine learning, are set to provide continued impetus to the global contactless biometrics market.
Contactless Biometrics Market Segmentation
The market can be divided based on component, technology, application, end user, and region.
Market Breakup by Component
- Hardware
- Software
- Services
Market Breakup by Technology
- Contactless Fingerprint Technology
- Facial Recognition
- Iris Recognition
- Palm Vein Recognition
- Voice Recognition
- Contactless Cards
Market Breakup by Application
- Face
- Fingerprint
- Hand Geometry
- Iris
- Voice
- Others
Market Breakup by End User
- Government
- BFSI
- Consumer Electronics
- Healthcare
- Transport and Logistics
- Defence and Security
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global contactless biometrics companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Touchless Biometric Systems AG
- IDEMIA SAS
- Fujitsu Limited
- NEC Corporation
- HID Global Corporation
- Blue Biometrics
- FEITIAN Technologies Co., Ltd.
- GateKeeper Proximity (Untethered Labs, Inc.)
- Aware Inc.
- Gemalto N.V.
- Others
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