Global Contactless Biometrics Technology Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
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"Global Contactless Biometrics Technology Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global contactless biometrics technology market has been segmented on the basis of component, application, end-use, as well as regions and countries.
Biometrics is the technical term for body measurements and calculations. It refers to metrics related to human characteristics. Biometric identification is used in computer science as a form of identification and access control. It is also used to identify individuals in groups that are under surveillance. Contactless biometrics refers to the digital method of biometric identification, i.e. facial and digital fingerprints, etc.
In light of the recent COVID-19 pandemic, social distancing is now, more than ever, a topic of focus for many organizations, both government and private. Authorities are fixated on ensuring the safety of individuals, while also being able to effectively screen and identify them. This is major factor that is expected to immensely influence future revenue growth of the global contactless biometrics technology market in a positive manner.
Other primary factors that are expected to play pivotal roles in the revenue growth of this market are the use of this technology in border control applications, the BSFI industry, increasing support through continued government legislation, and the rising usage of Automatic Identification and Data Capture technology in the e-commerce and retail sectors. The increasing penetration of devices such as smartphones, laptops, tablets, etc. that employ facial recognition software as an added security layer is another factor that is contributing to future revenue growth. The increasing number of air travelers on a global level is resulting in the need for improved, secure identification solutions at airports and other access areas. This is also expected to positively contribute to the revenue growth of this market in the future.
However, the increasing threat of data or identity theft, as well as the high-cost of contactless biometrics solutions are factor that may hinder the revenue growth of the global contactless biometrics technology market in the years to come.
Segmentation of the global contactless biometrics technology market is as follows:
In terms of component, the software segment accounted for the majority revenue shares of the global market in 2019, and is expected to continue to do so in the years to come. This can be attributed to the increasing adoption of machine learning, artificial intelligence, and cloud-based services for contactless biometrics solutions. On the basis of application, the iris segment is expected to expand at a significant rate of revenue growth over the next 10 years, as the iris system of identification is convenient, fast and accurate.
With respect to end-use, the government segment accounted for the highest number of revenue shares of the global contactless biometrics technology market in 2019, and is expected to continue to do so in the years to come. Additionally, the healthcare sector is also expected to register a considerable rate of revenue growth in the foreseeable future.
Regional Segmentation and Analysis:
North America accounted for the majority revenue shares of the global contactless biometrics technology market owing to the presence of major technology market players in the region, and the increasing usage of contactless biometrics technology in defense and government applications.
Segmentation of the Global Contactless Biometrics Technology Market:
Segmentation by Component:
- Professional Services
- Managed Services
Segmentation by Application:
- Hand Geometry
Segmentation by End-Use:
- Banking & Finance
- Consumer Electronics
- Transport & Logistics
- Defense & Security
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Touchless Biometric Systems AG
- Fingerprint Cards AB
- Fujitsu Limited
- NEC Corporation
- Gemalto N.V.
- Aware Inc.
- HID Global
- M2SYS Technology
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