Contactless Biometrics Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Contactless Biometrics Technology Market: Overview
Contactless biometrics is a relatively new technology for face, fingerprint, and iris identifications. Contactless biometrics technology has attracted a newfound attention among industries on the back of COVID-19 pandemic. Social distancing measures have spurred role of contactless technologies in businesses. A recent case in point is the adoption of contactless biometrics at airports in some developed countries. The aviation industry thus has been accelerator of the growth of the contactless biometrics technology market. Post-COVID era will accelerate the prospects of the technology, unarguably. To boost the passenger traffic, the aviation industry has made some drastic operational changes, and the adoption of contactless biometrics technology is one of them.
A wide array of offerings come under the ambit of the contactless biometrics market. These include time attendance, management of personnel, and registration.
Contactless Biometrics Technology Market: Competitive Landscape and Recent Developments
In the wake of quarantine requirements, recent months have stirred the popularity of contactless biometrics. Another solid thrust has come from the large proportion of worldwide population working from home, where contactless biometrics may facilitate remote identification, by using mobile applications. Numerous companies have expanded the portfolio of biometrics by recently including contactless in their offering. A few players are leaning on improving the functionalities of contactless biometrics technology. One way is doing it to offer integrated product, where cloud plays a crucial role.
A number of airports have seen the adoption of contactless biometrics. Thus, the aviation industry is one of the key enablers for the expansion of the contactless biometrics market. Examples include airport at Heathrow, Los Angeles, Orlando, and JFK. Need for seamless authentication process in various developing countries will bolster the adoption of contactless biometrics technology.
Some of the key stakeholders in the contactless biometrics technology market are Touchless Biometric Systems AG, NEC Corporation, M2SYS Technology, HID Global, Gemalto N.V., Fujitsu Limited, Fingerprint Cards AB, and Aware Inc.
Contactless Biometrics Technology Market: Growth Dynamics
One of the key enablers of contactless biometrics technology is avoiding contacts in COVID era, since safety concerns in the wake of the novel coronavirus have intensified. Growing prospect of automatic identification and data capture (AIDC) technologies in e-commerce is one of the key trends strengthening revenue potential in the contactless biometrics technology market. The BFSI sector is expected to new avenue for revenue stream for players. Integration of cloud-based services with touchless biometric technology is opening new prospect in the contactless biometrics technology market. The incorporation of artificial intelligence and machine learning technologies has boosted capability of contactless biometrics.
However, privacy concerns of the customer data has dampened the prospects in the contactless biometrics technology market. Nevertheless, both private players and governments are making efforts to allay these concerns. One of the ways is framing better regulations. The increasing initiatives by smartphone makers on adopting cutting-edge facial recognition software is boosting the growth dynamics in the contactless biometrics technology market. They are focusing on improving the user experience.
Contactless Biometrics Technology Market: Regional Outlook
The various regional markets are Europe, North America, Asia Pacific, the Middle East and Africa, and South America. Of these, North America market has seen vast appetite for touch-less biometrics systems for military and government agencies. Moreover, the utility of contactless biometrics among law enforcement agencies in the U.S. is a case in point. The Asia Pacific is emerging as the vastly lucrative contactless biometrics technology market.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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