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Contactless Biometrics Technology Market

Contactless Biometrics Technology Market by Technology(Contactless Fingerprint Technology, Facial Recognition, Iris Recognition, Palm Vein Recognition, Voice Recognition, and Contactless Cards), Applications(Identity Verification, Payments & Transactions, and Access Control), Offering (Hardware, Software, and Services), and Industry Vertical (BFSI, Government & Law Enforcement, Healthcare, Military & Defense, Retail, Education, Hospitality, and Automotive): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Contactless biometrics technology is a biometric authentication method, which does not allow the user to conduct any physical contact with the device. Contactless biometrics technology is a highly accurate and secure method for personal biometric identification (including contactless modalities) and employed for staff registration, time attendance, and management. Furthermore, contactless biometrics are used to collect an individual's data through face detection, recognition, and cloud plat forming. In addition, rising demand for high safety standards in the commercial, public, and private sectors is expected to drive the market growth. Furthermore, it isexpected that growinguse of automatic identification and data capture (AIDC) technology acrossindustries such as e-commerce, retail industries, BFSI industry, and border control applications; and increased support from governments to encourage use of touch less authentication technology is anticipated to drive market development.

COVID-19 scenarioAnalysis:

  • Global contactless biometrics technology market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
  • Global factories have struggled to integrate new contactless biometric technologies as workers have stayed in their homes, which disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for contactless biometric technologies are gradually going to increase. 
  • This COVID-19 lockdown would help companies think about more advanced contactless biometric technologies to enhance efficiency.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Growth adoption of contactless biometrics solutions in financial institutions for the secure financial transactions across the globe is anticipated to fuel the market growth. The contactless biometrics technology enables longer running times with less cleaning and less consumables, minimizing the maintenance cost. However, the higher cost of contactless biometrics solutions is anticipated to hamper to the growth to some extent of the market for contactless biometrics technology. Moreover, identity theft or data theft is a significant growth risk as it can pose a serious threat to the protection of sensitive information, or even increase the threat to national security.

The globalcontactless biometrics technology market trends are as follows:

Increase in adoption of Artificial Intelligence (AI) and Machine Learning (ML)

Increasing implementation of cloud-based services such as Artificial Intelligence (AI) and Machine Learning (ML) for contactless biometrics technology is expected to drive demand for contactless biometrics technology, to improve system compatibility for various applications.

Rise inadoption of smartphones and tablets

Rising penetration of smartphones and tablets coupled with focus of manufacturers on facial recognition software for their smartphones is anticipated to drive the demand for contactless biometrics solutions as an added layer of verification to unlock their smartphones. Contactless biometrics also offers encrypted access to applications and allows payments authenticated.

Growth in adoption of contactless technology in various industry verticals

High adoption rates of biometrics in the healthcare sector are expected to drive the contactless biometrics technology market. In addition, due to high implementation of touchless biometrics systems for government and military applications, North America is expected to lead the global contactless biometrics technology market. Also, the increasing numbers of air travelers around the globe have increased demand at airport facilities for more secure and advanced identifying solutions. The solutions estimate the vital signs of a passenger, allowing for touchless health screenings at airport kiosks through voice recognition. Furthermore, by implementing temperature sensors to capture body temperature and imaging cameras, manufacturers are also focusing on advancing their existing contactless biometrics solutions.

Key benefits of the report:

  • This study presents the analytical depiction of the globalcontactless biometrics technology industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the globalcontactless biometrics technology system market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global contactless biometrics technology market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed globalcontactless biometrics technology market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in thecontactless biometrics technology market research report:

  • Which are the leading market players active in the contactless biometrics technology market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the contactless biometrics technology market?
  • What are the projections for the future that would help in taking further strategic steps?

Key Market Segments

Segments Sub-segments
By Component
  • Hardware
  • Software
  • Services
By End User
  • Government
  • BFSI
  • Consumer electronics
  • Healthcare
  • Transport & logistics
  • Defense & Security
  • Others
By Region
  • North America
    • Canada
    • US
  • Europe
    • France
    • Germany
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    • Latin America
    • Middle East
    • Africa

Key Market Players

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

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