Contactless Biometrics Technology Market Trends, Share, Demand, Revenue and Future Outlook
Contactless Biometrics Technology Market Growth, Size, Trends Analysis- By Technology, By Application, By Component, By Deployment Mode- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2024 | Report ID: IACT24192 | Pages: 1 - 243 | Formats*: |
| Category : Information & Communications Technology | |||
Contactless Biometrics Technology Market Introduction and Overview
According to SPER Market Research, the Global Contactless Biometrics Technology Market is estimated to reach USD 73.74 billion by 2033 with a CAGR of 17.33%.
The report includes an in-depth analysis of the Global Contactless Biometrics Technology Market, including market size and trends, product mix, Applications, and supplier analysis. Contactless biometrics technology enables biometric identification and authentication of individuals without requiring physical interaction with the sensor. It uses speech patterns, facial patterns, and iris patterns to recognize individuals' identities. Furthermore, there are numerous types of contactless biometrics, such as facial recognition, voice recognition, palm vein detection, and eye recognition.
- Sep. 2024: NEC Corporation has introduced a biometric authentication system that quickly and accurately identifies big groups of people in motion using cutting-edge facial recognition technology. This invention, which reflects broader trends in the biometric market, like AFIS, attempts to increase efficiency and decrease congestion.
- Fingerprint Cards AB and IN Groupe, through their SPS brand, a leader in contactless and dual-interface cards, will release a safe component solution for contactless biometric payment cards in July 2024. This program aims to assist worldwide card makers in ramping up production of next-generation payment cards.
- Fujitsu Laboratories, Ltd. revealed a multi-factor biometric authentication solution in January 2021, aiming to provide a fresh and safe purchasing experience for the 'New Normal'. This method combines non-contact biometrics that use facial data for verification with identification via palm vein recognition.
- JENETRIC GmbH, a supplier of biometric identity technology, was purchased by DERMALOG identity Systems GmbH, a manufacturer of face, iris, and fingerprint identification technology, in June 2023. The optical Thin-film Transistor (TFT) technology from JENETRIC provides high-quality contactless fingerprint capture.
Market Opportunities and Challenges
Opportunities: The growing focus of enterprises on strengthening individual security and privacy is expected to boost the growth of the global contactless biometrics technology market. In addition, the need to improve the end-user experience, as well as the desire for faster authentication and access, will drive global market trends. Aside from that, the demand for safety and hygiene, as well as technology advances, will drive global market growth. Apparently, supportive government programs and the implementation of rigorous legislation governing the use of biometric data will accelerate worldwide industry growth. The widespread adoption of contactless biometric systems across a variety of end-use sectors will fuel global market growth.
Challenges: The market expansion for contactless biometrics technology is anticipated to be somewhat impeded by the high cost of contactless biometrics solutions. Additionally, identity or data theft poses a significant threat to growth since it can raise national security risks or potentially jeopardize the security of critical data. The texture and form of the human face change with age, and facial recognition software needs to be flexible enough to adapt to these changes, which raises the matching systems' error rates. Additional error-causing elements include facial lighting, posture, and expression changes, which further restrict growth to a certain degree.
Market Competitive Landscape
The contactless biometrics technology sector is fragmented, with increased competitiveness spurred by the involvement of multiple companies. Leading organizations in this area are always implementing innovative approaches to increase their market position. These industry leaders pursue techniques like forming alliances and nurturing collaborations to obtain a competitive advantage over their competitors and establish a significant market footprint. Some prominent players are M2SYS Technology, Aware Inc, nViaSoft, Fingerprint Cards AB, Gemalto N.V, Fujitsu Limited.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Technology, By Application, By Component, By Deployment Mode |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | M2SYS Technology, Aware Inc, nViaSoft, Fingerprint Cards AB, Gemalto N.V, Fujitsu Limited, HID Global, IDEMIA, NEC Corporation, Touchless Biometric Systems AG. |
COVID-19 Impact on Global Contactless Biometrics Technology Market
The COVID-19 pandemic has brought attention to the use of contactless technology, such as contactless biometrics, in promoting hygienic behaviors. Because contactless biometrics eliminate the need for physical touch and adhere to safety and health laws, they are a preferred choice in many industries. The epidemic has led to a greater usage of contactless biometrics in applications like as access management, attendance tracking, and identity verification.
By Technology Insights
The global contactless biometrics technology market is divided into four technological segments: voice recognition, iris recognition, palm veil recognition, and facial recognition. It appears that the facial recognition market, which accounted for almost 65% of worldwide sales in 2023, is expected to grow at the fastest rate over the next years since facial systems are widely available and simple to use.
Key Target Audience
- Government and Security Agencies
- Healthcare Institutions
- Banking, Financial Services, and Insurance (BFSI) Sector
- Retail and E-commerce Companies
- Transportation and Logistics Firms
- Large Enterprises and Corporate Offices
- Educational Institutions
- Technology Providers and Developers
- Military and Defense Organizations
- Hospitality and Tourism Industry
- Smart Cities and Urban Infrastructure Projects
- Consumer Electronics Manufacturers
Our in-depth analysis of the Contactless Biometrics Technology Market includes the following segments:
| By Technology: | |
| By Application: | |
| By Component: | |
| By Deployment Mode: |
Key Topics Covered in the Report
- Global Contactless Biometrics Technology Market Size (FY’2024-FY’2033)
- Overview of Global Contactless Biometrics Technology Market
- Segmentation of Global Contactless Biometrics Technology Market By Technology (Facial Recognition, Palm Veil Recognition, Voice Recognition, and Iris Recognition)
- Segmentation of Global Contactless Biometrics Technology Market By Application (Government, Automotive, Healthcare, Retail, Banking & Finance, and Consumer Electronics)
- Segmentation of Global Contactless Biometrics Technology Market By Component (Hardware, Services, and Software)
- Segmentation of Global Contactless Biometrics Technology Market By Deployment Mode (Cloud-Based and On-Premise)
- Statistical Snap of Global Contactless Biometrics Technology Market
- Expansion Analysis of Global Contactless Biometrics Technology Market
- Problems and Obstacles in Global Contactless Biometrics Technology Market
- Competitive Landscape in the Global Contactless Biometrics Technology Market
- Impact of COVID-19 and Demonetization on Global Contactless Biometrics Technology Market
- Details on Current Investment in Global Contactless Biometrics Technology Market
- Competitive Analysis of Global Contactless Biometrics Technology Market
- Prominent Players in the Global Contactless Biometrics Technology Market
- SWOT Analysis of Global Contactless Biometrics Technology Market
- Global Contactless Biometrics Technology Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Contactless Biometrics Technology Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Contactless Biometrics Technology Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Contactless Biometrics Technology Market
7. Global Contactless Biometrics Technology Market, By Technology (USD Million) 2020-2033
7.1. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Technology, 2020-20267.2. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Technology, 2027-20337.3. Facial Recognition7.4. Palm Veil Recognition7.5. Voice Recognition7.6. Iris Recognition
8. Global Contactless Biometrics Technology Market, By Application (USD Million) 2020-2033
8.1. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Application, 2020-20268.2. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Application, 2027-20338.3. Government8.4. Automotive8.5. Healthcare8.6. Retail8.7. Banking & Finance8.8. Consumer Electronics
9. Global Contactless Biometrics Technology Market, By Component (USD Million) 2020-2033
9.1. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Component, 2020-20269.2. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Component, 2027-20339.3. Hardware9.4. Services9.5. Software
10. Global Contactless Biometrics Technology Market, By Deployment Mode (USD Million) 2020-2033
10.1. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Deployment Mode, 2020-202610.2. Global Contactless Biometrics Technology Market Size, Share and Forecast, By Deployment Mode, 2027-203310.3. Cloud-Based10.4. On-Premise
11. Global Contactless Biometrics Technology Market Forecast, 2020-2033 (USD Million)
11.1. Global Contactless Biometrics Technology Market Size and Market Share
12. Global Contactless Biometrics Technology Market, By Region, 2020-2033 (USD Million)
12.1. Global Contactless Biometrics Technology Market Size and Market Share By Region (2020-2026)12.2. Global Contactless Biometrics Technology Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific
12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Qatar12.5.4. South Africa12.5.5. Egypt12.5.6. Morocco
12.5.7. Nigeria12.5.8. Rest of Middle-East and Africa
12.6. North America
12.6.1. Canada12.6.2. Mexico12.6.3. United States
12.7. Latin America
12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. M2SYS Technology
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. Aware Inc
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. nViaSoft
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. Fingerprint Cards AB
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. Gemalto N.V
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. Fujitsu Limited
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. HID Global
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. IDEMIA
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. NEC Corporation
13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. Touchless Biometric Systems AG
13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments
13.11. Others
14. Conclusion
15. List of Abbreviations
16. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Contactless Biometrics Technology Market is projected to reach USD 73.74 billion by 2033, growing at a CAGR of 17.33% during the forecast period.
Contactless Biometrics Technology Market grew in Market size from 2022. The Market is expected to reach USD 73.74 billion by 2033, at a CAGR of 17.33% during the forecast period.
Contactless Biometrics Technology Market CAGR of 17.33% during the forecast period.
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Contactless Biometrics Technology Market size is USD 73.74 billion from 2024 to 2033.
Contactless Biometrics Technology Market Segment is covered By Technology, By Application, By Component, By Deployment Mode.
The North America is anticipated to have the highest Market share in the Contactless Biometrics Technology Market.
The key players in the Market include Companies Covered M2SYS Technology, Aware Inc, nViaSoft, Fingerprint Cards AB, Gemalto N.V, Fujitsu Limited, HID Global, IDEMIA, NEC Corporation, Touchless Biometric Systems AG.
Contactless biometrics technology enables biometric identification and authentication of individuals without requiring physical interaction with the sensor.
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