Product Code: RP-ID-10336572 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: ICT & Telecom |
Report ID: 10336572
Market Overview:
Global Contactless Biometrics Technology Market Size study, by Component (Hardware, Software, Services), by Application (Face, Hand Geometry, Voice, Iris, Fingerprint, Others), by End-Use Industry (Government, Banking & Finance, Consumer Electronics, Healthcare, Transport & logistics, Defense & Security, Others) and Regional Forecasts 2020-2027
Global Contactless Biometrics Technology Market is valued approximately at USD 6.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 20.3% over the forecast period 2020-2027. Biometrics is defined as a process through which a person’s exclusive traits are recorded and recognized by means of an electrical device. Whereas contactless biometric technology usually offers the use of touchless authentication technology, which offers a safer mode reliant on convenience and hygiene. Contactless biometrics technology is an exceptionally accurate and consistent system for the detection of personal biometrics (such as contactless methods) and is applied for the registration, turnout, and administration of personnel. Contactless biometrics further offer secure access to applications and authenticates payments. Furthermore, the rise in demand for smartphones, along with the rising utilization of Automatic Identification and Data Capture (AIDC) technology in the e-commerce and retail industry are the few factors responsible for the CAGR of the market during the forecast period. According to Statista, about 1.6 billion units of smartphone were shipped around the world in 2016, demonstrating an increase from 1.3 billion smartphones shipments since 2014. Also, as per the International Data Corporation (IDC), the smartphone sellers distributed a total of 369.8 million units across the globe in the fourth quarter of 2019. Thus, the steady growth in demand for smartphones is contributing to higher demand for contactless biometric technology, thereby, making a significant impact on the market growth all over the world. However, data security & privacy concern is one of the major factors limiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Contactless Biometrics Technology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising adoption of contactless biometric solutions in government & defense applications, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in production of smartphones along with the increasing digitalization in the industrial sector across developing countries, such as China and India, would create lucrative growth prospects for the Contactless Biometrics Technology market across the Asia-Pacific region.
Major market player included in this report are:
Aware Inc.
Fingerprint Cards AB
Fujitsu Limited
Gemalto N.V.
HID Global
IDEMIA
M2SYS Technology
NEC Corporation
nViaSoft
Touchless Biometric Systems AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Software
Services
By Application:
Face
Hand Geometry
Voice
Iris
Fingerprint
Others
By End-Use Industry:
Government
Banking & Finance
Consumer Electronics
Healthcare
Transport & logistics
Defense & Security
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Contactless Biometrics Technology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Fingerprint Cards AB
Fujitsu Limited
Gemalto N.V.
HID Global
IDEMIA
M2SYS Technology
NEC Corporation
nViaSoft
Touchless Biometric Systems AG
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