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The contactless biometrics market size is projected to grow from USD 19.7 Billion in 2022 to USD 39.8 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.1%

·4 min read
ReportLinker
ReportLinker

during the forecast period. The major factor that has driven demand for this market is the growing security and hygiene issues among end users when using touch-based biometrics solutions. The major driving factors contributing to the growth of contactless biometrics market include increased use of contactless biometrics technology post the pandemic, government initiatives that support the adoption of contactless biometrics solutions, smartphones and tablet adoption, and growing security concerns and hygiene issues among users due to touch-based systems.

New York, May 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Contactless Biometrics Market by Offering, Software, Application, Vertical and Region - Global Forecast to 2027" - https://www.reportlinker.com/p06277913/?utm_source=GNW

• By offering, the services segment to register the highest growth rate during the forecast period

Based on component, the global contactless biometrics market is segmented into multimodal biometrics solution, software, hardware, and services.Contactless biometrics services include professional services and managed services.

Professional services are further classified into training and consulting services, feasibility assessment services, analysis, and advisory services.Managed services are expected to grow at a higher rate as it offers organizations to reduce effort, time, money, and risks.

Various professional services include technology advisory and consulting, development and integration, and support and maintenance.
The services segment is expected to grow at a higher CAGR during the forecast period.The growth of the services segment would be dependent on the adoption of contactless biometrics platform in the market during the forecast period.

Contactless biometrics services have witnessed a growing demand in recent years.This demand is driven by increasing users and data-security initiatives by the government.

Moreover, the growing usage of mobile devices and rising demand for robust fraud detection and prevention systems is also helping the market.

By application, the criminal identification & forensics segment is expected to register the highest growth rate during the forecast period
The contactless biometrics market has been segmented by applications into access controls, KYC/onboarding, criminal identification and forensics, and others.Law enforcement agencies worldwide have been using contactless biometrics technology for enhanced monitoring and control, and better security and safety.

Contactless biometric solutions help identify, investigate, and track suspects.

Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the contactless biometrics market during the forecast period. The region comprises emerging economies, such as China, Japan, India, Australia, and rest of APAC.
The presence of prominent contactless biometric system manufacturers, including Fujitsu and NEC Corporation, is expected to contribute to the revenue share of this region owing to the rapid economic growth in major countries such as China, Japan, India, and South Korea.The growth of the contactless biometric system market in the Asia Pacific is also attributed to technological advancements, increased awareness among the masses regarding the use of biometric systems for security purposes.

Investment and scalability in the Asia Pacific region are being boosted by companies like IDEMIA through its border processing capability platform for seamless travel experiences. IDEMIA’s Gen 3.0 Border & Airport platform, an industrial biometric engine that supports contactless or “on the move” face, iris, and fingerprint recognition, is already up and running in airports in the region.
With the rising penetration of the internet and smartphones, eCommerce became a strong driving force for Asia Pacific in 2020, which is further necessitating the demand for effective contactless biometrics solutions and services in the region. This is also fueling the need for contactless biometrics solutions and services in the region.

Breakdown of primary participants:
• By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25%
• By Designation: C-Level Executives = 40%, Directors = 35%, and Others = 25%
• By Region: North America = 30%, Europe = 20%, APAC = 45%, and RoW = 5%
Key and innovative vendors in contactless biometrics market include Aware (US), Fingerprint Cards AB (Sweden), Fujitsu (Japan), HID Global (US), IDEMIA (France), M2SYS Technology (China), NEC Corporation (Japan), nVIAsoft (US), Touchless Biometric Systems (Switzerland), Thales (France), Veridium (UK), BioConnect (Canada), Innovatrics (Slovakia), Cognitec Systems (Germany), DERMALOG Identification Systems (Germany), SecuGen (US), Neurotechnology (Lithuania), Shufti Pro (UK), Fidentity (Switzerland), Daon (US), NVISO (Switzerland), Noldus (The Netherlands), Blue Biometrics (Australia), True Face (US), Veridos (Germany), and ID R&D (US).

Research Coverage
The market study covers the contactless biometrics market size across segments.It aims at estimating the market size and the growth potential of this market across different segments by offering, by software, by services, by application, by vertical, and by regions.

The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the revenue numbers’ closest approximations for the overall contactless biometrics market and its sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report will also help stakeholders understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06277913/?utm_source=GNW

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