Contactless Biometrics Technology Market Analysis | 2023-2028

Market Highlights

The Contactless Biometrics Technology Market was estimated at US$ 7.16 billion in 2022 and is expected to grow at a CAGR of 20.2% during 2023-2028 to reach US$ 21.7 billion in 2028.

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What is Contactless Biometrics Technology?

Contactless biometrics technology is an innovative method of identifying and authenticating individuals without physical contact. It relies on the use of unique biological or behavioral traits, such as fingerprints, facial recognition, iris scans, or voice patterns, to verify a person's identity. Unlike traditional biometric systems that require direct contact with a sensor, contactless biometrics can perform these identity checks from a distance.

Market Drivers

This technology has gained popularity for its convenience, hygiene, and security benefits. For instance, smartphones use contactless biometrics for facial recognition or fingerprint scanning to unlock the device or authorize transactions. In a world increasingly focused on reducing physical contact, contactless biometrics offer a safer and more efficient way to verify identities. It is commonly used in access control systems, mobile devices, and payment methods. Rising demand for a high level of security in the commercial, public, and private sector companies coupled with growing safety concerns regarding health and hygiene amid the outbreak of COVID-19 is likely to create healthy growth opportunities shortly.

Segments Analysis

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By Component Type

The contactless biometrics technology market is segmented as hardware, software, and services. The software segment is expected to remain dominant in the market during the forecast period, propelled by the growing adoption of artificial intelligence and machine learning to enhance their operations in various applications.

By End-User Type

The market is segmented as government, banking & finance, consumer electronics, healthcare, transport & logistics, defense & security, and others. The government segment dominated the market and is also expected to remain dominant during the forecast period, owing to the rising adoption of contactless biometrics technology by several governments across the world to reduce and control criminal activities across the nation.

Regional Analysis

In terms of region, North America is likely to maintain its supremacy in the market during the forecast period, mainly driven by high demand for advanced technologies in the USA and Canada. A robust supply chain across the region with the presence of a large number of contactless biometrics technology providers as well as a large consumer base is the key growth propeller of the market.

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Key Players

Some of the major contactless biometric technology manufacturers are-

• Touchless Biometric Systems AG
• Aware Inc.
• Fingerprint Cards AB
• Fujitsu Limited
• NEC Corporation
• nViaSoft
• IDEMIA
• Thales Group
• HID Global Corporation
• M2SYS Technology

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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