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Contactless Biometrics Technology Market is on Track to Exceed $37.10 Bn by 2030

In 2022, the contactless biometrics technology market study by Precedence Research provides crucial information on market share, market size, growth rate analysis Y-O-Y, and forecast period 2021 to 2030. The report contains 150+ pages with detailed analysis.

According to Precedence Research, the global contactless biometrics technology market size is forecasted to reach US$ 37.10 billion by 2030 from US$ 6.9 billion in 2021, by growing at a lucrative CAGR of 20.5% between 2021 and 2030.

The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

Download Free Sample Copy with TOC, Graphs & List of Figures @ https://www.precedenceresearch.com/sample/1339

Contactless biometrics technology is a process of identifying the authenticity of an individual by scanning the face or eyes without physically touching it. This technology also collects data of an individual through face detection, recognition, and stores it on a cloud platform. This identification technology is highly accurate and reliable for personal biometric identification. The onset COVID-19 pandemic has acted as a catalyst in driving the market demand for contactless biometrics.

Crucial factors accountable for market growth are:

  • The surge in demand for smartphones with face recognition software fuels the market growth.
  • Increased air travelers across the world foster the market growth.
  • Rise in demand for Automatic Identification and Data Capture (AIDC) technology in various industries such as BFSI, E-commerce, Banks and others.

Report Highlights

  • The software Component segment is expected to lead the market contributing more than 44.5% of the revenue share in the upcoming years.
  • The Government end use segment of the Contactless Biometrics Technology Market is estimated to lead the market with a market share of more than 30% in 2021.
  • By Geography, North America holds a significant share accounting for more than 31% in 2020 in the Contactless Biometrics Technology Market in terms of revenue share because of the presence of major market players in the region.

Market Dynamics

Driver – The high level of security provided by the contactless biometrics drive the market growth. Also, the wide scale adoption of contactless biometrics in diverse industries such as Banks, BFSI and others are expected to drive the growth of the Contactless Biometrics Technology Market. For instance, On 13th October 2021, HID Global introduces biometric MFA platform for banks to provide the widest-reaching omnichannel experience possible with the lowest amount of user friction.

Restraint – The major restraining factor that will negatively impact the growth of the Contactless Biometrics Technology Market includes the high cost involved in the installation of contactless biometrics solutions.

Opportunity – The COVID-19 pandemic has created huge business opportunities for the contactless biometrics as it eliminates the need for physical touch in order to identify the authenticity of an individual.

Challenges – As the contactless biometrics stores the identification of the individuals, there is chance of data theft or identity theft and this attribute forms a major challenge encountered by the Contactless Biometrics Technology Market.

Recent Developments

  • On 10th March 2021, CE Colo selected Touchless Biometric Systems AG to protect their valuable assets through the implementation of a stellar, secure and reliable biometric access control system.
  • On 25th August 2021, Fingerprint Cards AB has entered into an agreement with Seshaasai, an innovative and prominent smart card manufacturer in India, has agreed to work with Fingerprint Cards AB to develop, promote, market, and sell contactless biometric payment cards in India and the Asia Pacific area. The card will include Fingerprints’ T-Shape module and software platform, which is designed to be integrated into payment cards using normal automated manufacturing techniques and has ultra-low power consumption.
  • On 27th September 2021, IATA announced that it will deploy IATA Travel Pass kiosks for performing the biometrics check at the airport. This check will be performed contactless in the wake of COVID-19 crisis. This development has been widely accepted among the international travelers.
  • On 22nd January 2021, Fujitsu Laboratories has launched new multi-factor biometric authentication technology that will deliver a contactless shopping experience for the post-COVID-19 “New Normal” era.
  • On 17th June 2021, HID Global, a worldwide leader in trusted identity solutions, announced the development of its HID Signo Biometric Reader 25B that is used to capture and read fingerprints in real-world applications and conditions.
  • On 18th August 2021, Omni-ID, a leading manufacturer of RFID tags and industrial IoT hardware devices for passive and active tagging, monitoring, tracking, and alerting applications, has been purchased by HID Global, a global leader in trusted identification solutions. This acquisition will help HID Global enhance its footprint in India and China while also expanding its leadership in RFID technology.

Competitive Intelligence

The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.

Some of the prominent players in the global contactless biometrics technology market are Touchless Biometric Systems AG, Fingerprint Cards AB, IDEMIA, nViaSoft, Fujitsu Limited, NEC Corporation, Gemalto N.V., Aware Inc., HID Global and  M2SYS Technology.

Segments Covered in the Report

By Component

  • Hardware
  • Software
  • Service
    • Professional Services
    • Managed Services

By End use Industry

  • Government
  • Banking & Finance
  • Consumer Electronics
  • Healthcare
  • Transport & Logistics
  • Defense & Security
  • Others

By Application

  • Face
  • Fingerprint
  • Hand Geometry
  • Iris
  • Voice
  • Others

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Contactless Biometrics Technology Market 

5.1. COVID-19 Landscape: Contactless Biometrics Technology Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Contactless Biometrics Technology Market, By Component

8.1. Contactless Biometrics Technology Market, by Component Type, 2021-2030

8.1.1. Hardware

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Software

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Service

8.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Contactless Biometrics Technology Market, By Application

9.1. Contactless Biometrics Technology Market, by Application, 2021-2030

9.1.1. Face

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Fingerprint

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Hand Geometry

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Iris

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Voice

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Others

9.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Contactless Biometrics Technology Market, By End use 

10.1. Contactless Biometrics Technology Market, by End use, 2021-2030

10.1.1. Government

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Banking & Finance

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Consumer Electronics

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Healthcare

10.1.4.1. Market Revenue and Forecast (2019-2030)

10.1.5. Transport & Logistics

10.1.5.1. Market Revenue and Forecast (2019-2030)

10.1.6. Defense & Security

10.1.6.1. Market Revenue and Forecast (2019-2030)

10.1.7. Others

10.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Contactless Biometrics Technology Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Component (2019-2030)

11.1.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.3. Market Revenue and Forecast, by End use (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Component (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.4.3. Market Revenue and Forecast, by End use (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Component (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.5.3. Market Revenue and Forecast, by End use (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Component (2019-2030)

11.2.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.3. Market Revenue and Forecast, by End use (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Component (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.4.3. Market Revenue and Forecast, by End use (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Component (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.5.3. Market Revenue and Forecast, by End use (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Component (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.6.3. Market Revenue and Forecast, by End use (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Component (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.7.3. Market Revenue and Forecast, by End use (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Component (2019-2030)

11.3.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.3. Market Revenue and Forecast, by End use (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Component (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.4.3. Market Revenue and Forecast, by End use (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Component (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.5.3. Market Revenue and Forecast, by End use (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Component (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.6.3. Market Revenue and Forecast, by End use (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Component (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.7.3. Market Revenue and Forecast, by End use (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Component (2019-2030)

11.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.3. Market Revenue and Forecast, by End use (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Component (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.4.3. Market Revenue and Forecast, by End use (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Component (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.5.3. Market Revenue and Forecast, by End use (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Component (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.6.3. Market Revenue and Forecast, by End use (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Component (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.7.3. Market Revenue and Forecast, by End use (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Component (2019-2030)

11.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.3. Market Revenue and Forecast, by End use (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Component (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.4.3. Market Revenue and Forecast, by End use (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Component (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.5.3. Market Revenue and Forecast, by End use (2019-2030)

Chapter 12. Company Profiles

12.1. Touchless Biometric Systems AG

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Fingerprint Cards AB

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. IDEMIA

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. nViaSoft

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Fujitsu Limited

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. NEC Corporation

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Gemalto N.V.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Aware Inc.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. HID Global

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. M2SYS Technology

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global contactless biometrics technology market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for contactless biometrics technology are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable. 

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