The technique of recognizing, identifying, and authenticating individuals based on their behavioral or physical characteristics is known as biometrics. The biometric template that is already contained in the database is matched with an individual's identifiers by these systems. The technique is used to control access to computers, rooms, and buildings by confirming whether the people seem like the people they claim to be. Contactless biometric authentication is a method of biometric authentication that eliminates the need for the user to physically interact with the device. It encompasses technology such as voice, facial, and iris identification, among others. Speed and efficiency, temperature scanning, social distancing, saving health check data, and the ability to recognize persons wearing masks are just a few advantages of contactless biometric technology.
Global Contactless Biometrics Technology Market Driving Factors and Challenges
Driving Factors: The market has grown significantly in recent years as a result of rising security concerns, the demand for convenient authentication techniques, and the widespread implementation of biometrics in industries such as government, healthcare, defense, and consumer electronics. Rising smartphone and tablet usage, combined with manufacturers' focus on face recognition software as an additional layer of verification to unlock their cellphones, is expected to fuel demand. Contactless biometrics allows for safe app access and payment authentication. Furthermore, the increasing use of contactless biometrics solutions in financial institutions to protect international financial transactions is likely to propel market expansion.
Challenges: The collection and storage of biometric data such as facial scans or fingerprints creates privacy concerns. The misuse or mishandling of this sensitive information can lead to major breaches of privacy. Finding a balance between security and privacy is a significant problem for contactless biometrics technology.
Biometrics are vulnerable to hacking and spoofing attempts, while being regarded more secure than traditional authentication methods. Hackers may attempt to change or copy biometric data, resulting in security breaches. The contactless biometrics market lacks uniform standards. Different devices and systems frequently use proprietary technology, posing challenges to interoperability and integration.
Impact of COVID-19 on Global Contactless Biometrics Technology Market
The significance of contactless technologies, such as contactless biometrics, in encouraging hygienic practices has been highlighted by the COVID-19 pandemic. Contactless biometrics are a popular option in many industries because of the decreased requirement for physical contact, which complies with health and safety regulations. Contactless biometrics have become more widely used in applications including identity verification, attendance monitoring, and access management as a result of the epidemic.
Contactless Biometrics Technology Market Key Players:
M2SYS Technology, Aware Inc, nViaSoft, Fingerprint Cards AB, Gemalto N.V, Fujitsu Limited, HID Global, IDEMIA, NEC Corporation, and Touchless Biometric Systems AG are just a few of the major market players that are thoroughly examined in this market study along with revenue analysis, market segments, and competitive landscape data.
Global Contactless Biometrics Technology Market Segmentation:
By Technology: Based on the Technology, Global Contactless Biometrics Technology Market is segmented as; Facial Recognition, Palm Veil Recognition, Voice Recognition, and Iris Recognition.
By Application: Based on the Application, Global Contactless Biometrics Technology Market is segmented as; Government, Automotive, Healthcare, Retail, Banking & Finance, and Consumer Electronics.
By Component: Based on the Component, Global Contactless Biometrics Technology Market is segmented as; Hardware, Services, and Software.
By Deployment Mode: Based on the Deployment Mode, Global Contactless Biometrics Technology Market is segmented as; Cloud-Based and On-Premise.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.