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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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