According to market research reports, the global contactless biometrics technology market size was estimated to be USD 13.09 billion in 2020, and it is projected to reach USD 62.64 billion by 2030, growing at a CAGR of 19% during the forecast period.
The rising need for touchless and contactless authentication solutions, increasing security concerns, and the growing adoption of contactless biometrics technology by various end-use industries such as healthcare, banking, finance, and retail are some of the major factors driving market revenue growth.
The implementation of contactless biometrics technology in these industries helps to ensure the safety and security of customers and staff by reducing the risk of contamination. Throughout the forecast period, the demand for touchless biometric solutions such as iris, voice, and facial recognition is expected to fuel global revenue growth.
It is worth noting that the COVID-19 pandemic has also played a significant role in accelerating the adoption of contactless biometrics technology, as it has increased the demand for touchless and contactless solutions across various industries.
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The global contactless biometrics technology market is indeed segmented based on technology type, which includes fingerprint, iris, facial recognition, and others. According to various market research reports, the facial recognition segment is expected to account for the largest revenue share during the forecast period.
Facial recognition technology uses algorithms to recognize and authenticate people based on the unique characteristics of their faces, such as the distance between the eyes, the shape of the nose, and the contours of the face. It captures a picture of a person's face and compares it to a database of pictures to locate a match. Facial recognition technology is being widely adopted across various industries, including security, law enforcement, and customer service, to enhance security and improve customer experience. However, the use of facial recognition technology has also raised concerns related to privacy and surveillance, which has led to regulatory scrutiny and calls for ethical guidelines for its use.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, company overview, product service portfolio, and revenue generation. The global Contactless Biometrics Technology market is extremely competitive and consists of several key players at regional and global level. These players are focusing on various strategies such as investments in RD, new product launches, mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position.
Leading companies operating in the market are:
- NEC Corporation
- Thales Group
- Gemalto NV
- Fujitsu Limited
- 3M Cogent
- Idemia Group
- Apple Inc.
- Synaptics Incorporated
- Crossmatch Technologies, Inc.
- Applied Recognition, Inc.
Global Contactless Biometrics Technology Market Segmentation:
Technology Outlook (Revenue, USD Billion; 2019-2032)
- Face Recognition
- Iris Recognition
- Fingerprint Recognition
- Others
Application Outlook (Revenue, USD Billion; 2019-2032)
- Security and Surveillance
- Banking Finance
- Healthcare
- Others
Regional Outlook:
The report offers in depth analysis of leading regions categorized into North America, Europe, Asia Pacific, Latin America and Middle East Africa.
Regional Analysis covers:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- K.
- Rest of EU
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- A.E
- Rest of MEA
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Application Insights:
The global contactless biometrics technology market is segmented based on applications, including security and surveillance, banking and finance, healthcare, and others. According to market research reports, the security and surveillance segment is expected to account for the largest revenue share during the forecast period.
Contactless biometric technology is widely employed in security and surveillance applications to improve safety and security measures. It is used in access control systems to recognize individuals and grant them access to secure locations. It is also utilized in border control systems to confirm traveler identity and detect any suspicious behavior. Law enforcement organizations use contactless biometric technologies to identify criminals and monitor their movements.
In addition to security and surveillance, contactless biometric technology is being increasingly used in banking and finance applications to improve customer authentication and fraud prevention measures. In healthcare, it is used to ensure accurate patient identification and improve patient data security. Contactless biometric technology is also finding applications in various other industries, including transportation, retail, and hospitality.
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