DUBLIN, Aug. 24, 2020 /PRNewswire/ -- The "Global Contactless Biometrics Technology Market By Component, By Application, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Contactless Biometrics Technology Market size is expected to reach $18.6 billion by 2026, rising at a market growth of 19.1% CAGR during the forecast period.
The time consumption will be drastically reduced for a less intrusive biometric authentication device. This will also contribute to fewer tensions and less frustrated and unpleasant staff. Intrusiveness may lead to an increase in the time taken for successful authentication due to a waste of time in proper contact with the biometric system. It can significantly raise friction and annoyance due to failed attempts and inaccurate touch.
As fingerprint recognition is becoming increasingly common, other biometric technologies like voice, facial and even vein pattern recognition is swiftly flooding the market. The deployment of fingerprint recognition for contactless card payments instead of PIN numbers is one of the areas that the banks and card issuers explore extensively.
The outbreak of COVID-19 was the key cause for the development and acceptance of contactless biometric technologies. Organizations, institutions and governments are still focused on hygiene with the spread of this deadly virus around the world. Contactless biometrics technology plays a crucial role in verifying personal identities by providing users with access controls without any physical contact with the security infrastructure. In addition, governments around the world have stepped up measures to adopt contactless biometric technologies to respond quickly to the crisis of COVID-19. This is anticipated to boost the demand for contactless biometrics technologies among government agencies for public safety surveillance.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix, NEC Corporation, Assa Abloy AB, Thales Group S.A., and Fujitsu Limited are the forerunners in the Contactless Biometrics Technology Market. Companies such as Fingerprint Cards AB, Aware, Inc., and IDEMIA SAS are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujitsu Limited, Thales Group S.A. (Gemalto NV), Assa Abloy AB, NEC Corporation, Aware, Inc., Fingerprint Cards AB, IDEMIA SAS (Advent International, Inc.), Touchless Biometric Systems AG, M2SYS Technology, Inc., and nVIAsoft Corporation.
Recent Strategies Deployed
Partnerships, Collaborations, and Agreements
Apr-2020: Fingerprint Cards AB collaborated with Digi-Key Electronics, the global on-line distributor. This collaboration strengthened Fingerprints' position and helped the company scale into new markets and application areas within IoT and access globally. Digi-Key helped the former company to reach out and find new potential markets and application areas.
Apr-2020: Fingerprint Cards AB signed a global licensing agreement with FEITIAN, a leading provider of online user authentication and payment transaction security of China. The agreement was signed for Fingerprints software platforms for payments and access, FPC-BEP, together with a volume agreement for FPC touch sensors. The agreement was focused on both biometric cards and access devices such as physical access cards, and FIDO devices for logical access.
Apr-2020: HID Global announced its collaboration with Fidesmo, a provisioning company that makes it possible to connect contactless services to wearables. Fidesmo integrated HID's next-generation Seos credential technology into secure element chips that are used in a wide variety of wearables. In collaboration with Fidesmo, the former company aimed to bring more use cases to wearables delivers on the promise of Seos credential technology to provide users the freedom to use their preferred device, whether it's a phone, card, or wearable, to easily navigate their daily life.
Acquisitions and Mergers
Apr-2020: Fujitsu Frontech acquired Fulcrum Biometrics, the Texas-based biometric hardware, software, and solutions provider. The companies aimed to develop the industry's premier provider of biometric authentication and access management solutions.
Feb-2020: Assa Abloy completed the acquisition of Biosite, the biometric access solution developer. The acquisition reinforced its offerings within solutions for access control and helped the company in expanding its business.
Product Launches and Product Expansions
May-2020: Aware, Inc. launched the Knomi version 2.6, a market-leading mobile biometric software product. This new version is expected to equip Aware customers with robust passive facial liveness and authentication integrated with an additional voice biometric capability- speaker recognition for providing secure, cost-effective, and convenient access to applications and networks.
May-2020: Fingerprint Cards AB announced the launch of the new FPC1025 sensor. Through this launch, the company has extended its touch sensor portfolio. This sensor aims to provide the highest biometric performance with the lowest power consumption and is expected to enable a variety of form factors. FPC1025 can be used by devices and applications where secure, streamlined user-authentication is required.
May-2020: NEC launched NeoFace Thermal Express to provide touchless screening. The NeoFace Thermal combined elevated body temperature (EBT) detection, detection of personal protective equipment, such as face masks, and NeoFace biometrics on a scalable and modular platform with video and thermal analytics. NeoFace Thermal Express runs on NEC's cloud-based Digital Services Platform, which provides sensor management, algorithm orchestration, scalability, and interoperability.
Jan-2020: Fingerprint Cards AB extended its fingerprint authentication touch sensor portfolio for physical and logical access devices and applications. The company launched FPC1020 and FPC1024, featuring high biometric performance and a small physical footprint. These sensors are water-resistant and can be used by devices and applications that assure a secure and smooth way for authenticating the users. The sensors have low power consumption and come with unique features for excellent everyday user experience.
Key Topics Covered
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.3 Market Scope
1.4.1 Global Contactless Biometrics Technology Market, by Component
1.4.2 Global Contactless Biometrics Technology Market, by Application
1.4.3 Global Contactless Biometrics Technology Market, by End User
1.4.4 Global Contactless Biometrics Technology Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Nov - 2020,Apr) Leading Players
Chapter 4. Global Contactless Biometrics Technology Market by Component
4.1 Global Contactless Biometrics Technology Software Market by Region
4.2 Global Contactless Biometrics Technology Hardware Market by Region
4.3 Global Contactless Biometrics Technology Services Market by Region
Chapter 5. Global Contactless Biometrics Technology Market by Application
5.1 Global Face Contactless Biometrics Technology Market by Region
5.2 Global Voice Contactless Biometrics Technology Market by Region
5.3 Global Fingerprint & Hand Geometry Contactless Biometrics Technology Market by Region
5.4 Global Iris Contactless Biometrics Technology Market by Region
5.5 Global Other Application Contactless Biometrics Technology Market by Region
Chapter 6. Global Contactless Biometrics Technology Market by End User
6.1 Global Government Contactless Biometrics Technology Market by Region
6.2 Global Transport & Logistics Contactless Biometrics Technology Market by Region
6.3 Global Defense & Security Contactless Biometrics Technology Market by Region
6.4 Global Consumer Electronics Contactless Biometrics Technology Market by Region
6.5 Global Healthcare & Life Sciences Contactless Biometrics Technology Market by Region
6.6 Global Banking & Finance Contactless Biometrics Technology Market by Region
6.7 Global Others Contactless Biometrics Technology Market by Region
Chapter 7. Global Contactless Biometrics Technology Market by Region
7.1 North America Contactless Biometrics Technology Market
7.2 Europe Contactless Biometrics Technology Market
7.3 Asia Pacific Contactless Biometrics Technology Market
7.4 LAMEA Contactless Biometrics Technology Market
Chapter 8. Company Profiles
8.1 Fujitsu Limited
8.2 Thales Group SA (Gemalto NV)
8.3 Assa Abloy AB
8.4 NEC Corporation
8.5 Aware, Inc.
8.6 Fingerprint Cards AB
8.7 IDEMIA SAS (Advent International, Inc.)
8.8 Touchless Biometric Systems AG
8.9 M2SYS Technology, Inc.
8.10 nVIAsoft Corporation
For more information about this report visit https://www.researchandmarkets.com/r/eijoz8
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