Contactless Biometrics Market Is Projected To Increase At A CAGR Of Over 16.4% By 2032

The global contactless biometrics market is estimated at USD 17.1 Billion in 2022 and is forecast to reach USD 78.6 Billion by 2032, growing at a CAGR of 16.4% during 2022-2032.

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Contactless Biometrics market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Contactless Biometrics market.

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Key findings of the Contactless Biometrics market study:

•          Regional breakdown of the Contactless Biometrics market based on predefined taxonomy.
•          Innovative manufacturing processes implemented by Contactless Biometrics vendors in detail.
•          Region-wise and country-wise fragmentation of the Contactless Biometrics market to grasp the revenue, and growth outlook in these areas.
•          Changing preferences among consumers across various regions and countries.
•          Factors (Positive and Negative) impacting the growth of the global Contactless Biometrics market.

Key Companies Profiled

• Touchless Biometric Systems AG
• IDEMIA SAS
• NViaSoft
• Fujitsu Limited
• NEC Corporation
• Gemalto N.V
• Aware Inc.
• HID Global
• M2SYS Technology
• Neurotechnology
• Assa Abloy AB
• Blue Biometrics
• EYN
• FEITIAN Technologies Co.

Competitive Landscape

According to the market research analysis the top manufacturers of contactless biometrics are Touchless Biometric Systems AG, IDEMIA SAS, nViaSoft, Fujitsu Limited, NEC Corporation, HID Global, Assa Abloy AB, Blue Biometrics, FEITIAN Technologies Co., Smart Packaging Solutions  and GateKeeper Proximity etc.

Majority of the manufacturers are focused on establishing subsidiaries in developing regions. Strategies include product launches, collaborations with key players, partnerships, and mergers and acquisitions. Some of the key development are:

• In May 2020, company named Finger Cards AB has expanded its touch sensor portfolio by the introduction of FPC2025 sensor. The target was to introduce a high performing biometrics that consume low power.
• In May 2020, one of the market giants NEC Corporation introduced NeoFace Thermal Express which offered touchless screening. NeoFace Thermal Express was designed to detect elevated body temperature and protective body equipment such as face mask.
• In 2020, Fingerprint Cards AB has partnered with Digi- Key Electronics, which has allowed the former expansion in the new market. During this partnership, Digi Key will help the company to develop new application areas.

Similarly, recent developments related to companies providing contactless biometrics and integrated biometrics software have been tracked by the team at Fact.MR, which are available in the full report.

Global Contactless Biometrics Market by Category

• By Technology :
• Contactless Fingerprint Recognition
• Facial Recognition
• Iris Recognition
• Palm Vein Recognition
• Voice Recognition
• Contactless Cards
• By Component :
• Hardware
• Contactless Fingerprint Scanners
• Facial Recognition Scanners
• Iris Recognition Scanners
• Palm Vein Scanners
• Others (Voice Recognition Devices, Contactless Smart Cards & Readers
•  Software
• Integrated Biometrics Software
• Standalone Software/Middleware
• Facial Recognition Software
• Vein Recognition Software
• Iris Recognition Software
• Others
•  Services

• Professional Services
• System Integration & Deployment
• Security Consulting
• Support & Maintenance
• Managed Services
• By Application :
• Identity Verification
• Payments & Transactions
• Access Control
• By Industry :
• BFSI
• Government & Law Enforcement
• Healthcare
• Military & Defense
• Retail
• Others

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Queries addressed in the Contactless Biometrics market report:

•          Why are the Contactless Biometrics market players targeting region for increased product sales?
•          What patented technologies are the players utilizing in the global Contactless Biometrics market?
•          Which regions are displaying the fastest growth in the Contactless Biometrics market?
•          What are the underlying micro- macroeconomic factors affecting the global Contactless Biometrics market?

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