What is Contactless Biometrics Technology Market Scope?
Biometrics can be defined as the process by which a person's unique characteristics are recognized and recorded by an electrical device, which means a statistical analysis of biological phenomena. This includes the identification of fingerprints, hand geometry, iris scan, DNA, odor, face recognition, and handprint. The contactless biometric technology offers the use of contactless authentication technology which offers a more secure mode based on hygiene and convenience. Biometrics has proven to be a very powerful technology for identifying or authenticating users. The development of biometrics also takes advantage of new advances in biometric sensors, computing power, and artificial intelligence. Beyond strengthening security, the user experience has become another key issue to enable the use of biometrics in a greater number of use cases. Contactless biometric technologies help improve the user experience, and the maturity of existing solutions is such that they are already used in various application areas such as forensics, border control, passenger facilitation, or access control.
Influencing Trend:
The Recent Covid-19 Epidemic That Prompted a Shift towards Social Distancing Is Influencing Organizations towards Using Contact-Based Biometrics Technology, Growing Usage of Automatic Identification and Data Capture (AIDC) Technology in Various Industries and Rising Demand for Secure, Hygienic, and Convenient Authentication System in Condominiums and Clubs across the Globe
Market Growth Drivers:
Rising Demand for High Level of Security in Commercial, Rising Penetration of Smartphones and Tablets Coupled With Manufacturers’ Focus on Facial Recognition and Rising Adoption of Contactless Biometrics Solutions in Financial Institutions for Securing Financial Transactions
Challenges:
Data Theft or Identity Theft Is a Major Challenge
Restraints:
The High Cost of Contactless Biometrics Solutions
Opportunities:
Growing Adoption of Cloud-Based Services, Artificial Intelligence (AI), And Machine Learning (Ml) For Contactless Biometrics Solutions, Technology Offers an Innovative and Much Safer Mode Based On Hygiene and Convenience and Increasing Support from Government Legislation to Encourage the Use of Touchless Authentication Technology
The Contactless Biometrics Technology market study is being classified by Type (Facial Recognition, Contactless Cards and Others), by Application and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from European will contribute to the maximum growth of Global Contactless Biometrics Technology market throughout the predicted period.
Touchless Biometric Systems AG (Switzerland), Fingerprint Cards AB (Sweden), IDEMIA (France), nViaSoft (United States), Fujitsu Limited (Japan), NEC Corporation (Japan), Gemalto N.V. (Netherlands), Aware Inc. (United States), HID Global (United States) and M2SYS Technology (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Contactless Biometrics Technology market by Type, Application and Region.
On the basis of geography, the market of Contactless Biometrics Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In Nov 2018, Fingerprints and FEITIAN announced partnerships to the revealed contactless biometric payment card. Which has ultra-low consumption and integrated into using smartcards using a standard process.
In February 2018, Fujitsu has announced the availability of its cloud-based, multimodal Biometrics as a Service platform in Australia. This solution enables organizations to deploy biometric authentication for protection against security risks and is the result of Fujitsu’s partnership with ImageWare Systems1.
Key Target Audience
Providers of Contactless Biometrics Technology, End-Users, Potential Investors, Regulatory Bodies, Market Research Firms and Others
Contactless Biometrics Technology Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Contactless Biometrics Technology Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Contactless Biometrics Technology industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.