What is Touchless Sensing Equipment?
Touchless Sensing combines the benefits of optical sensing with biometric sensing technologies in a single solution. Touchless sensors allow for the scanning of biometric photos or the detection of a person without requiring physical touch with the sensors. Growing concerns regarding contagious diseases such as recent global pandemic too has accelerated research in touchless sensing solutions and widened the market of touchless sensing into various industrial applications. High cost of the touchless sensing devices and the irregularities in the rare earth metal supply chain may limit the success of the touchless sensing technology. Currently, North America and Europe are the largest markets of touchless sensing.
The market study is broken down and major geographies with country level break-up.
With the growing concerns regarding contagious diseases, requirement for tech based touchless sensing solutions have risen worldwide. Advancement in the sensors, camera and artificial intelligence technology too has driven the market of touchless sensing. Although because of nascent stage of the development, there still are few doubts about the accuracy of the technology. Currently, North America and Europe are the two prominent markets in touchless sensing. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Eyesight Technologies Ltd. (Israel), Microchip Technologies Inc. (United States), Microsoft Corporation (United States), Google LLC (United States), Sony Depthsensing Solutions SA/NV (Belgium), InvenSense (United States), CogniVue Corporation (Canada), Elliptic Labs Inc. (Norway), OmniVision Technologies, Inc. (China) and Cognitec Systems GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are German Auto Labs GmbH (Germany), Gesture Research (India) and Pmdtechnologies AG (Germany).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Touchless Sensing Equipment market by Type, Application and Region.
On the basis of geography, the market of Touchless Sensing Equipment 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). If we see Market by Technology, the sub-segment i.e. RFID will boost the Touchless Sensing Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Touchless Sensing Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. BFSI will boost the Touchless Sensing Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product , the sub-segment i.e. Touchless Biometric will boost the Touchless Sensing Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Evolv Technology, a United States based market leader in AI touchless security screening has announced signing of a definitive agreement for merger with NewHold Investment Corp., which is a special purpose acquisition company. After the completion of the merger Evolv will become a publicly traded company on the NASDAQ. The listing would accelerate Evolv’s research and development in new touchless physical security solutions.
In 2021, Motorola Solutions Inc., an American data communications and telecommunications equipment provider has announced acquisition of Openpath Security Inc., which is a cloud-based mobile touchless access control provider. Touchless, mobile-based door lock solutions are created by Openpath. Physical sensors put at doors that can be locked and opened using mobile devices are used in its systems. The Openpath’s security solutions combined with Motorola’s extensive expertise in the field of security would help them provide unparalleled touchless access control solutions.
Market Trend
- Touchless Biometric are excessively Demanded after the Recent Pandemic
Market Drivers
- Recent Pandemic has accelerated the Requirement for Touchless Technology because of Excess Hygiene Protocols
- Advancements in Sensor Based Technology
- Increasing Investments in Digitisation
Opportunities
- Integration of Gesture Control Devices in Public Places
Restraints
- High Cost of Deployment of Touchless Technology
Challenges
- Disruptions in Supply of Rare Earth Metals recently has Affected the Sensor Manufacturing and thus Touchless Sensing Devices
Key Target Audience
Touchless Sensing Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.