North America Contactless Biometrics Technology Market Analysis 2015-2021 and Forecast 2022-2030, 15.2. This website is secure and your personal details are safe. Moreover, the rising adoption of contactless biometrics solutions in financial institutions for securing financial transactions worldwide is further expected to drive market growth. For the purpose of this study, Grand View Research has segmented the global contactless biometrics technology market report based on component, application, end use, and region: Component Outlook (Revenue, USD Million, 2016 - 2027), Application Outlook (Revenue, USD Million, 2016 - 2027), End-use Outlook (Revenue, USD Million, 2016 - 2027), Regional Outlook (Revenue, USD Million, 2016 - 2027). the Contactless Biometrics Technology Market is divided into face, fingerprint, hand geometry, Iris, Voice and other applications. Contactless biometrics technology is a . Verified Market Research uses the latest researching tools to offer accurate data insights. The major players in the market are Aware Inc, Fingerprint Cards AB, Fujitsu Limited, Gemalto N.V, HID Global, IDEMIA, M2SYS Technology, NEC Corporation, Neurotechnology, and nViaSoft. They are also focusing on investing in research & development activities to provide upgraded biometrics solutions. Competitive landscape and component benchmarking, Market revenue estimates and forecast up to 2027, Market revenue estimates and forecasts up to 2027, by technology, Market revenue estimates and forecasts up to 2027, by application, Market revenue estimates and forecasts up to 2027, by type, Market revenue estimates and forecasts up to 2027, by component, Regional market revenue forecasts, by technology, Regional market revenue forecasts, by application, Regional market revenue forecasts, by type, Regional market revenue forecasts, by component, Impact on each country and various region, Positive and negative scenarios of the market during the ongoing pandemic, Impact on various sectors facing the greatest drawbacks are manufacturing, transportation and logistics, and retail and consumer goods. Contactless biometrics technology market accounted for around 40% of biometrics technology market. Let us know your requirement to get 100% FREE customization. Rising security concerns as a result of unexpected terrorist activities and illegal immigrants entering the region have increased the demand for contactless biometric technologies to maintain high-level security, thereby it will increase the demand for the Contactless Biometrics Technology Market. Iris identification is used in national and civil ID schemes, access control, time attendance, and a variety of other applications. The global Contactless Biometrics Technology market size will reach USD 24660 million in 2028, growing at a CAGR of 17.5% over the analysis period. Analysts use correlation, regression and time series analysis to deliver reliable business insights. South Asia & Pacific region is set to show highest growth of CAGR of 20.6% during forecasted period and North America region witness highest market share of 27.6% in 2022. Key Market Participants - Intensity Mapping, 21. IDEMIA, nViaSoft, Fujitsu Limited, NEC Corporation, Touchless Biometric Systems AG, Fingerprint Cards AB, Gemalto N.V., Aware Inc., HID Global, and M2SYS Technology and Others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally. Facial recognition segment is set to witness highest growth rate of 19.3% CAGR during 2022-30. Development in smartphone technology has led to the implementation of various contactless biometric technologies, such as voice recognition, facial recognition, iris recognition etc. North America dominated the contactless biometrics market with a share of 32.3% in 2019. For instance, in November 2019, National Crime Records Bureau (NCRB), India, gathered bids from private companies to develop a centralized facial recognition surveillance system. Address: Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, Canada, IND Address: 2nd Floor,Shreeleela Plaza, Baner Road, Pune, Maharashtra - 411045, Call: USA - +1 9197 992 333 | IND - +91 93077 85324, Copyright 2022, All rights reserved. Constant technological advances in enhanced. Moreover, the development of real-time emotion detection system, that is an application of face recognition in healthcare helps in detecting the emotions of the patients during their stay in the healthcare facility. US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, China, Australia, New Zealand, GCC countries, Turkey, Northern Africa, and South Africa, Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives. Current and Future Market Value (US$ Mn) Projections, 2022-2030, 9.2. The COVID-19 pandemic has impacted every industry such as Aerospace & Defence, Agriculture, Food & Beverages, Automobile & Transportation, Chemical & Material, Consumer Goods, Retail & eCommerce, Energy & Power, Pharma & Healthcare, Packaging, Construction, Mining & Gases, Electronics & Semiconductor, Banking Financial Services & Insurance,ICT and many more. Key Countries Analysis- Contactless Biometrics Technology Market, 21.1. Also, in February 2020, BioConnect launched BioConnect Enterprise 4.7, a new subscription feature that helps to address user enrolment and make proactive decisions. ASEAN Contactless Biometrics Technology Market Analysis, 21.17. Apr 01, 2022 (AmericaNewsHour) -- Kenneth Research, in its repository of market research reports, have recently added a report on the Contactless Biometrics. We use cookies to enhance your experience. Contactless Biometrics Technology is an extremely precise and reliable system for the recognition of personal biometrics (including contactless techniques) and is used for the . Spain Contactless Biometrics Technology Market Analysis, 21.10. GCC Countries Contactless Biometrics Technology Market Analysis, 21.19. Digi-Key assisted the previous company in reaching out to new potential markets and application areas. The rising adoption of contactless biometrics solutions in defense and government applications is also expected to drive the demand for the market in North America. The UK market size is expected reach 3.6X by 2030 in the contactless biometric technology market. This factor will contribute significantly towards the market growth. Market Size (US$ Mn) and Volume (000 Units) Forecast By Market Taxonomy, 2022 - 2030, 15.5. 2.2. The software segments held the prominent and is predicted to remain at the forefront throughout the forecast period due to the factors such as growing adoption of cloud based services, Artificial Intelligence and machine learning for the contactless biometric solutions. We appoint data triangulation strategies to explore different areas of the market. Identity Verification Payments & Transactions Access Control Others. On the basis of region, the Contactless Biometrics Technology market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region. Historical Market Size (US$ Mn) and Volume (000 Units) Analysis By Component, 2015 - 2021, 11.3. The trend such as implementation of biometrics in payments industry for secure transaction and introduction of multi-modal biometrics are driving the sales of contactless biometrics technology market. Currently, the U.S. market anticipate for the largest consumption of contactless biometrics technology in North America region, and is expected to grow at 16.7% CAGR during 2022-30. >>> Ask For Discount @ https://www.verifiedmarketresearch.com/ask-for-discount/?rid=42554. Contactless Biometrics Technology Market size was valued at USD 16170.19 Million in 2021 and is projected to reach USD 69265.18 Million by 2030, growing at a CAGR of 17.54% from 2022 to 2030. In April 2020, Fingerprint Cards AB collaborated with Digi-Key Electronics, a global online distributor. The growing use of Automatic Identification and Data Capture (AIDC) technology in the e-commerce and retail industries, the BFSI sector, border control applications, and increased government legislation to encourage the use of touchless authentication technology are expected to drive market growth. Profitability by Market Segments (Business Segment/Region), 22.4.14. Based on Technology, the market is segmented into Contactless Fingerprint Technology, Facial Recognition, Contactless Cards, and Others. The Global Contactless Biometrics Technology Market study report will provide valuable insight with an emphasis on the global market. Human face changes in texture and shape over time and facial recognition technologies must be robust enough to accommodate changes that are generated from the aging process, which increases error rates in the matching systems. The COVID-19 outbreak has been the primary driver of the expansion and adoption of contactless biometrics technology and increasing the market growth of the Contactless Biometrics Technology Market globally. Precedence Research is a Canada/India based company and one of the leading providers of strategic market insights. For instance, in May 2018, Touchless Biometric Systems AG launched TBS 2D EYE, an iris recognition device. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. So a biometric system in which the user need not to perform physical contact with the biometric authentication system is known as contactless biometric system. Please wait. Also, the experts gather reliable information from the paid databases. What is driving demand for contactless biometrics technology market? Discounted price for multiple reports across domains, 2. Free report customization (equivalent up to 8 analysts working days) with purchase. Historical Market Size (US$ Mn) and Volume (000 Units) Analysis By Region, 2015 - 2021, 14.3. The pandemic also brought contactless biometrics to broader use for early detection, public safety monitoring, and patient screening. The Contactless Biometrics market size and status, impending innovations, industry drivers and difficulties, administrative arrangements, key organization profiles, and component in detail . The iris segment holds the major share of the market and this region is expected to hold the dominance during the forecast period since the iris based system is accurate, fast and convenient while eliminating the payroll frauds such as buddy punching and also the growing demand for the iris biometrics technology within an organizations to process the payroll. Key Market Participants - Intensity Mapping, 20. Thus rising adoption of contactless fingerprint recognition, facial recognition, palm vein recognition, iris recognition, and others in identity verification applications is set to drive the market growth. The complex included two skyscrapers and is home to high-profile law firms, mining, industrial, media and technology companies, and one of the citys most recognized shopping centers. We value your investment and offer free customization with every report to fulfil your exact research needs. Rising demand for secure, hygienic, and convenient authentication systems in condominiums and clubs across the globe is anticipated to drive market growth. Increasing Demand for Contactless Smart Cards across Industries, 10. The new technology utilized both facial recognition and fingerprint biometrics to facilitate clearance procedures for travelers at airports in Canada. Aug 08, 2022 (AmericaNewsHour) -- Research Nester published a report titled "Contactless Biometrics Technology Market: Global Demand Analysis &. The contactless biometrics market size is projected to grow from USD 19.7 Billion in 2022 to USD 39.8 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.1% ReportLinker May 18,. The growing demand for high level of security in commercial, public and private sector is a factor that is expected to lead the Contactless Biometrics Technology market during the forecast period. The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls. Others ( Education, Hospitality, Automotive), 13.4. The Global Contactless Biometrics Technology market is expected to reach $22.44 billion by 2026 growing at a CAGR of 18.3% from 2019 to 2026. Asia Pacific region is also expected to increase the market growth due to the rising number of enterprises in the world and also the entry of new industry players in some of the major economies of the region such as India, China and Japan propels the growth of the revenue rate of the enterprises software market during the forecast period. An iris-based system is accurate, fast, and convenient while eliminating payroll frauds such as buddy punching. An unified Market Research Subscription Platform, built for todays disparate research needs. What will be the demand outlook for contactless biometrics technology through 2030? The Global Contactless Biometrics Technology Market size is expected to reach $18.6 billion by 2026, rising at a market growth of 19.1% CAGR during the forecast period. Among all these, the segment of the iris is expected to be the dominating segment . Retailers are aware of the consumer's desire to use contactless payments. In the midst of the COVID-19 outbreak, which will increase demand, the technology provides an innovative and much safer mode based on hygiene and convenience. Many key contactless biometrics technology solution providers are inclined towards launching new products and solutions to enhance their customer base as well as to diversify product offerings. Market Definition / Scope / Limitations, 4. Market Size (US$ Mn) and Volume (000 Units) Forecast By Market Taxonomy, 2022 - 2030, 16.5. The Global Contactless Biometrics Technology Market is Segmented on the basis of Technology, Application, and Geography. Rising adoption of contactless biometrics solutions in financial institutions for securing the financial transactions, rising penetration of smartphones and tablets which coupled with manufacturers focus on facial recognition for the smartphones which acts as an added layer for the verification to unlock their smartphones, rising demand for secure, hygienic, convenient authentication system in condominiums and clubs, growing usage of automatic identification and data capture technology in e-commerce and retail industry is expected to play an essential role in the growth of Contactless Biometrics Technology market across the globe. You will receive an email from our Business Development Manager. The growing COVID-19 pandemic across the globe is pushing everyone to minimize physical contact with a common surface. https://www.verifiedmarketresearch.com/download-sample/?rid=42554. The software segment leads the market with more than 44.5% in 2020 and is estimated to grow significantly during the forecast period. Contactless Biometrics Technology Global Contactless Biometrics Technology Market to Reach $40.4 Billion by 2027 In the changed post COVID-19 business landscape, the global market for Contactless Biometrics Technology estimated at US$9.4 Billion in the year 2020, is projected to reach a revised size of US$40.4 Billion by 2027, growing at a CAGR of 23.2% over the analysis period 2020-2027. The emergence of computerized database and digitization has increased the industrial adoption of contactless biometrics across the globe and this factor fuels the market growth. Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors Provision of market value (USD Billion) data for each segment and sub-segment Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions Includes an in-depth analysis of the market of various perspectives through Porters five forces analysis Provides insight into the market through Value Chain Market dynamics scenario, along with growth opportunities of the market in the years to come 6-month post sales analyst support. Moreover, the future estimations presented in the document are evaluated and verified by experts using proven research methodologies. This additionally supports the market researchers in segmenting different segments of the market for analysing them individually. UK is one of the prominent country in terms of spending in government & law enforcement, military and defense industry. According To The Insight Partners the Global Contactless Biometrics Market 2028 that centers around Contactless Biometrics market examines the significant components with a top to bottom methodology and empowers the client to survey the drawn-out based interest additionally predicts explicit executions. Increasing demand for contactless biometrics solutions by payment solution providers to offer secure transactions to their customers in the region is further expected to drive regional growth. [277 Pages Report] The contactless biometrics market size is projected to grow from USD 19.7 billion in 2022 to USD 39.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. Historical Market Size (US$ Mn) and Volume (000 Units) Trend Analysis By Market Taxonomy, 2015 - 2021, 20.3. Contactless Biometrics Technology Market to Cross US$ 70 Bn by 2030 By Ankush Nikam Posted on December 30, 2021 As contactless biometrics technology is giving new and inventive ways of utilizing the force of biometrics, the market is projected to develop at a CAGR of 17.4% during the figure time frame (2020-2030). As a result, the final set of collected data is a combination of different forms of raw statistics. They utilize the BI-enabled dashboard to deliver real-time market statistics. We also collect and mix the data from our previous market research reports. Global Contactless Biometrics Technology Market Analysis 2015-2021 and Forecast 2022-2030, by Application, 12.2. The collected data includes market dynamics, technology landscape, application development and pricing trends. It includes technologies like contactless fingerprint recognition, facial recognition, palm vein recognition, iris recognition, voice recognition and others. Market Attractiveness Analysis By Technology, 11. What is the CAGR of contactless biometrics technology market? See for yourself. It is located in the Bosques de las Lomas neighborhood of Mexico City, the center is comprised of six buildings. Historical Market Value (US$ Mn) Analysis, 2015-2021, 8.2. Key Market Participants - Intensity Mapping, 16. North America dominated the market with a share of over 30% in 2019. Thus, such government initiatives and rising digitalization development in the country is expected to propel the demand for the contactless biometrics technology in Japan. Further, it helps us in delivering the evidence related to market growth rates. Scope of the Contactless Biometrics Technology Market Report, No cookie-cutter, only authentic analysis take the 1st step to become an Precedence Research client. Iris Recognition Technology Adoption, 9.2.6. Contactless Fingerprint Technology, 10.4. Please fill out the form below for a free PDF report sample & Contactless Biometrics market Growing at 14.9% CAGR to be Worth US$ 59.4 Bn by 2030: COVID-19 Impact and Global Analysis by Business Market Insights Verifying the collected data in terms of accuracy and reliability. This way, we are empowered to quantify their impact on the markets momentum. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques. Therefore, massive presence of such companies in the country ultimately propels the demand for the contactless biometrics technology market. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. Sales revenue of contactless biometrics technology are projected to grow at 17.6% CAGR and be valued at over US$ 71,407.4 Mn by 2030. The global contactless biometrics technology market can be segmented in terms of components, end-user, type, and region. Furthermore, the Global Contactless Biometrics Technology Market Market report covers various drivers, restraints, opportunities, and external threats till 2030. This factor drives the growth of the Contactless Biometrics Technology Market. Historic Growth Rate of Contactless Biometrics Technology Vendors, 9.2.3. According to Precedence Research, the global contactless biometrics technology market was reached at US$ 6.95 billion in 2021 and is projected to hit around US$ 37.10 billion by 2030. Middle East and Africa is likely to have the fastest growth rate in the forecast period 2022 - 2027. Rising penetration of smartphones and tablets coupled with manufacturers focus on facial recognition software for their smartphones as an added layer of verification to unlock their smartphones is anticipated to drive the demand. According to a new report Global Contactless Biometrics Technology Market, published by KBV research, The Global Contactless Biometrics Technology Market size is expected to reach $18.6 billion by 2026, rising at a market growth of 19.1% CAGR during the forecast period. The agreement focused on biometric cards as well as access devices such as physical access cards and FIDO devices for logical access. Current and Future Market Size (US$ Mn) Analysis and Forecast By Industry, 2022 2030, 13.3.6. Facial recognition technology helps to enhance or automate process and it provides greater face matching accuracy. Rising smartphone and tablet penetration, as well as manufacturers focus on facial recognition software for their smartphones as an added layer of verification to unlock their smartphones, are expected to drive demand. The last step of the report making revolves around forecasting of the market. WE GOT YOU COVERED! Additionally, rising demand for high levels of security in the commercial, public, and private sectors is expected to drive market growth. Privacy Policy*, Future Market Insights is registered in the state of Delaware as Future Market Insights, Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, United States, Email: sales@futuremarketinsights.com Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts. The COVID 19 pandemic has prompted a shift towards the new trend social distancing which influencing the organizations to move from contact based biometrics technology to contactless biometrics solutions The market of contactless biometrics solutions has increased during the COVID 19 pandemic since the need for contactless biometrics has increased to broader use for early detection, public safety monitoring, and patient screening which made the market to have an impeccable growth rate and it will also grow further in the future. This collaboration helped Fingerprints strengthen its position and expand into new markets and application areas within IoT and access globally. What are the factors driving the contactless biometrics technology market. The report provides a detailed globalcontactless biometrics technology market analysis based on competitive . The suite provides a cloud-based, configurable identity management software platform that can be used for data management and rapid prototyping. Market Size (US$ Mn) and Volume (000 Units) Forecast By Market Taxonomy, 2022 - 2030, 19.5. Ottawa, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The global contactless biometrics technology market size has contributed US$ 6.95 billion in 2020 in terms of revenue share. The biometrics industry continues to adjust to the global lockdown with new offerings for fever detection, attempts to find early detection systems, and touchless technologies. BENELUX Contactless Biometrics Technology Market Analysis, 21.11. Global Contactless Biometrics Technology Market Analysis 2015-2021 and Forecast 2022-2030, by Region, 14.2. UK has witnessed increasing adoption of biometric identification systems or solutions across public and private institutions in more expanded applications. China Contactless Biometrics Technology Market Analysis, 21.13. We value your investment and offer free customization with every report to fulfil your exact research needs., Contactless Biometrics Technology Market wa. The key market players include Touchless Biometric Systems AG; Fingerprint Cards AB; Fujitsu Limited; IDEMIA; and NEC Corporation. Majority of economies across the globe have started adopting contactless biometrics technology. Key drivers for the contactless biometrics market include the integration of other capabilities, such as body temperature measurement, de-duplications and time and attendance tracking, according to Fact.Mr. South Korea Contactless Biometrics Technology Market Analysis, 21.15. Contactless Biometrics Technology Market is Anticipated to Grow at US$ 71,407.4 Mn by 2030 By Ankush Nikam Posted on October 17, 2022 The size of the contactless biometrics technology market is projected to increase by 17.6% between 2022 and 2030, from US$ 19,456.1 million in 2022 to US$ 71,407.4 million by 2030. By Component Key Findings 7.2. Latin America is expected to have the significant growth opportunities in the coming years. High cost of the contactless biometric solutions is one of the important barriers to market growth. Forecast Factors - Relevance & Impact, 9.2.1. Based on Application, the market is segmented into Identity Verification, Payments & Transactions, Access Control, and Others. Call us on: +1 888 702 9696 (U.S Toll Free), Write to us: sales@marketdataforecast.com. The factors such as increasing applications of contactless access control across various industries, automatic identification and data capture technologies and rising adoption of convenient physical security solutions are expected to show significant growth in contactless biometrics technology market. 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