Contactless Biometrics Technology Market
Contactless Biometrics Technology Market Forecasts to 2030 - Global Analysis By Type (Fingerprint Recognition, Face Recognition, Iris Recognition, Voice Recognition, Palm Recognition, Vein Recognition and Other Types), Component (Hardware, Software, Service and Other Components), Application, End User and By Geography
According to Stratistics MRC, the Global Contactless Biometrics Technology Market is accounted for $16.02 billion in 2023 and is expected to reach $49.82 billion by 2030 growing at a CAGR of 16.8% during the forecast period. Contactless biometrics technology refers to the use of biometric authentication methods that do not require physical contact with a device or sensor. Instead of traditional fingerprint scanners or iris readers, contactless biometrics utilizes technologies like facial recognition, palm vein recognition, or voice recognition to verify a person's identity. This technology offers convenience, hygiene, and enhanced security by eliminating the need for physical contact.
According to the Center for Strategic & International Studies Report (CSIS) 2021, China is at the forefront of the global digital payment revolution.
Market Dynamics:
Driver:
Growing concerns over security threats
Growing concerns over security threats, including identity theft and unauthorized access, are driving the rapid expansion of the contactless biometrics technology. This technology offers a secure and convenient solution by authenticating individuals based on unique physiological characteristics such as fingerprints, iris patterns, or facial features, without the need for physical contact. With its ability to enhance security measures while ensuring user convenience, it is increasingly adopted across various sectors, propelling its market growth significantly.
Restraint:
Lack of standardization
The lack of standardization in contactless biometrics technology stems from the diversity of biometric modalities, proprietary algorithms, and varying integration methods across different systems and vendors. This absence of unified standards poses interoperability challenges, hindering seamless integration and compatibility among different biometric systems and devices. Consequently, it complicates adoption efforts for businesses and organizations, leading to slower market growth.
Opportunity:
Increasing penetration of smart phones
Smart phones are equipped with advanced biometric sensors, such as fingerprint scanners and facial recognition technology, which enhance security and convenience. As more individuals adopt smart phones globally, there is a parallel surge in demand for contactless biometric solutions for authentication and identity verification purposes. This trend fuels market expansion as businesses and consumers alike seek seamless, secure, and user-friendly methods of access and authentication in various sectors.
Threat:
High initial costs
High initial costs in contactless biometrics technology primarily branch from the sophisticated hardware and software required for development and implementation. These technologies often demand significant investment in research, development, and infrastructure setup. Consequently, this factor hampers market growth as it creates barriers to entry for businesses, slows down adoption rates, and limits the market size where financial resources are limited or allocated conservatively.
Covid-19 Impact
The covid-19 pandemic has significantly accelerated the adoption of contactless biometrics technology. Concerns over virus transmission have propelled the demand for touch less authentication methods in various sectors. With a heightened focus on hygiene and safety, businesses and governments worldwide are increasingly implementing facial recognition, iris scanning, and other contactless biometric solutions. As a result, the contactless biometrics technology market has witnessed rapid growth and innovation to meet evolving needs and expectations.
The fingerprint recognition segment is expected to be the largest during the forecast period
The fingerprint recognition segment is estimated to have a lucrative growth. Contactless biometrics technology is revolutionizing fingerprint recognition applications by eliminating the need for physical contact while maintaining high levels of accuracy and security. This advancement allows for seamless and hygienic authentication processes in various industries. This innovation not only enhances user convenience but also addresses concerns about hygiene, making it an increasingly preferred choice for secure identity verification in diverse environments.
The sensors segment is expected to have the highest CAGR during the forecast period
The sensors segment is anticipated to witness the highest CAGR growth during the forecast period, due to its accurate and secure identification. These sensors, capture biometric data such as facial features, iris patterns, or fingerprint impressions. Advanced algorithms analyze this data to create unique biometric templates, ensuring reliable authentication. Infrared sensors enhance accuracy in low-light conditions, while liveness detection sensors prevent spoofing attempts. Its robust and convenient solutions for authentication across various industries propel the segment demand.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to its convenience, security, and hygiene benefits. Countries like China, Japan, and South Korea are leading the adoption, driven by the proliferation of smart phones and government initiatives promoting digital identity solutions. With the region's large population and tech-savvy consumers, contactless biometrics is poised to reshape the way people interact with digital services, enhancing both user experience and security.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to its convenience, efficiency, and heightened security. The United States and Canada are witnessing widespread adoption across various sectors, including finance, healthcare, and government services. With its potential to enhance user experience while bolstering security measures, contactless biometrics is poised to become a ubiquitous feature of digital interactions throughout the region.
Key players in the market
Some of the key players profiled in the Contactless Biometrics Technology Market include Aware, Inc., BioConnect, BIO-key International, Inc., Cognitec Systems, DERMALOG Identification Systems GmbH, FaceFirst, Fingerprint Cards AB, Fujitsu Limited, Gemalto N.V., IdentyTech Solutions, Innovatrics, M2SYS Technology, Mantra Softech, NEC Corporation,Precise Biometrics, Touchless Biometric Systems AG, Veridium, Vision-Box, IDEMIA and Moqi.
Key Developments:
In March 2023, IDEMIA launched two new contactless fingerprint terminals, the MorphoWave SP and MorphoWave XP, at the Intersec 2022 tradeshow in Dubai. These terminals have integrated physical and software features, and are IP65 rated. They use the latest biometric algorithms, and are the only physical access control terminals to undergo rigorous testing.
In June 2022, Moqi, an innovative AI company and a leading provider of cutting-edge biometric enrollment and authentication technologies, has launched a new suite of solutions designed to enable contactless scanning at a time of heightened concern about the spread of COVID-19 and other pathogens. The solutions were debuted at this year’s Milipol Asia-Pacific event in Singapore.
Types Covered:
• Fingerprint Recognition
• Face Recognition
• Iris Recognition
• Voice Recognition
• Palm Recognition
• Vein Recognition
• Other Types
Components Covered:
• Hardware
• Software
• Service
• Other Components
Applications Covered:
• Identity Verification & Authentication
• Access Control & Security
• Payments & Transactions
• Surveillance & Monitoring
• Attendance Tracking & Time Management
• Surveillance & Monitoring
• Other Applications
End Users Covered:
• Government & Defense
• Healthcare
• Transportation & Logistics
• Banking, Financial Services, & Insurance
• IT & Telecommunications
• Hospitality
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Contactless Biometrics Technology Market, By Type
5.1 Introduction
5.2 Fingerprint Recognition
5.3 Face Recognition
5.4 Iris Recognition
5.5 Voice Recognition
5.6 Palm Recognition
5.7 Vein Recognition
5.8 Other Types
6 Global Contactless Biometrics Technology Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Sensors
6.2.2 3D cameras
6.2.3 Scanners
6.2.4 Microphones
6.3 Software
6.3.1 Identification Software
6.3.2 Enrollment Software
6.3.3 Security Software
6.3.4 Algorithms
6.3.5 Middleware
6.4 Service
6.4.1 Integration & Implementation Services
6.4.2 Consulting & Advisory Services
6.4.3 Maintenance & Support Services
6.4.4 Other Services
6.5 Other Components
7 Global Contactless Biometrics Technology Market, By Application
7.1 Introduction
7.2 Identity Verification & Authentication
7.3 Access Control & Security
7.4 Payments & Transactions
7.5 Surveillance & Monitoring
7.6 Attendance Tracking & Time Management
7.7 Surveillance & Monitoring
7.8 Other Applications
8 Global Contactless Biometrics Technology Market, By End User
8.1 Introduction
8.2 Government & Defense
8.3 Healthcare
8.4 Transportation & Logistics
8.5 Banking, Financial Services, & Insurance
8.6 IT & Telecommunications
8.7 Hospitality
8.8 Other End Users
9 Global Contactless Biometrics Technology Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Aware, Inc.
11.2 BioConnect
11.3 BIO-key International, Inc.
11.4 Cognitec Systems
11.5 DERMALOG Identification Systems GmbH
11.6 FaceFirst
11.7 Fingerprint Cards AB
11.8 Fujitsu Limited
11.9 Gemalto N.V.
11.10 IdentyTech Solutions
11.11 Innovatrics
11.12 M2SYS Technology
11.13 Mantra Softech
11.14 NEC Corporation
11.15 Precise Biometrics
11.16 Touchless Biometric Systems AG
11.17 Veridium
11.18 Vision-Box
11.19 IDEMIA
11.20 Moqi
List of Tables
1 Global Contactless Biometrics Technology Market Outlook, By Region (2021-2030) ($MN)
2 Global Contactless Biometrics Technology Market Outlook, By Type (2021-2030) ($MN)
3 Global Contactless Biometrics Technology Market Outlook, By Fingerprint Recognition (2021-2030) ($MN)
4 Global Contactless Biometrics Technology Market Outlook, By Face Recognition (2021-2030) ($MN)
5 Global Contactless Biometrics Technology Market Outlook, By Iris Recognition (2021-2030) ($MN)
6 Global Contactless Biometrics Technology Market Outlook, By Voice Recognition (2021-2030) ($MN)
7 Global Contactless Biometrics Technology Market Outlook, By Palm Recognition (2021-2030) ($MN)
8 Global Contactless Biometrics Technology Market Outlook, By Vein Recognition (2021-2030) ($MN)
9 Global Contactless Biometrics Technology Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Contactless Biometrics Technology Market Outlook, By Component (2021-2030) ($MN)
11 Global Contactless Biometrics Technology Market Outlook, By Hardware (2021-2030) ($MN)
12 Global Contactless Biometrics Technology Market Outlook, By Sensors (2021-2030) ($MN)
13 Global Contactless Biometrics Technology Market Outlook, By 3D cameras (2021-2030) ($MN)
14 Global Contactless Biometrics Technology Market Outlook, By Scanners (2021-2030) ($MN)
15 Global Contactless Biometrics Technology Market Outlook, By Microphones (2021-2030) ($MN)
16 Global Contactless Biometrics Technology Market Outlook, By Software (2021-2030) ($MN)
17 Global Contactless Biometrics Technology Market Outlook, By Identification Software (2021-2030) ($MN)
18 Global Contactless Biometrics Technology Market Outlook, By Enrollment Software (2021-2030) ($MN)
19 Global Contactless Biometrics Technology Market Outlook, By Security Software (2021-2030) ($MN)
20 Global Contactless Biometrics Technology Market Outlook, By Algorithms (2021-2030) ($MN)
21 Global Contactless Biometrics Technology Market Outlook, By Middleware (2021-2030) ($MN)
22 Global Contactless Biometrics Technology Market Outlook, By Service (2021-2030) ($MN)
23 Global Contactless Biometrics Technology Market Outlook, By Integration & Implementation Services (2021-2030) ($MN)
24 Global Contactless Biometrics Technology Market Outlook, By Consulting & Advisory Services (2021-2030) ($MN)
25 Global Contactless Biometrics Technology Market Outlook, By Maintenance & Support Services (2021-2030) ($MN)
26 Global Contactless Biometrics Technology Market Outlook, By Other Services (2021-2030) ($MN)
27 Global Contactless Biometrics Technology Market Outlook, By Other Components (2021-2030) ($MN)
28 Global Contactless Biometrics Technology Market Outlook, By Application (2021-2030) ($MN)
29 Global Contactless Biometrics Technology Market Outlook, By Identity Verification & Authentication (2021-2030) ($MN)
30 Global Contactless Biometrics Technology Market Outlook, By Access Control & Security (2021-2030) ($MN)
31 Global Contactless Biometrics Technology Market Outlook, By Payments & Transactions (2021-2030) ($MN)
32 Global Contactless Biometrics Technology Market Outlook, By Surveillance & Monitoring (2021-2030) ($MN)
33 Global Contactless Biometrics Technology Market Outlook, By Attendance Tracking & Time Management (2021-2030) ($MN)
34 Global Contactless Biometrics Technology Market Outlook, By Surveillance & Monitoring (2021-2030) ($MN)
35 Global Contactless Biometrics Technology Market Outlook, By Other Applications (2021-2030) ($MN)
36 Global Contactless Biometrics Technology Market Outlook, By End User (2021-2030) ($MN)
37 Global Contactless Biometrics Technology Market Outlook, By Government & Defense (2021-2030) ($MN)
38 Global Contactless Biometrics Technology Market Outlook, By Healthcare (2021-2030) ($MN)
39 Global Contactless Biometrics Technology Market Outlook, By Transportation & Logistics (2021-2030) ($MN)
40 Global Contactless Biometrics Technology Market Outlook, By Banking, Financial Services, & Insurance (2021-2030) ($MN)
41 Global Contactless Biometrics Technology Market Outlook, By IT & Telecommunications (2021-2030) ($MN)
42 Global Contactless Biometrics Technology Market Outlook, By Hospitality (2021-2030) ($MN)
43 Global Contactless Biometrics Technology Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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