Contactless Biometrics Technology Market to Grow with a CAGR of 19.4% Globally through to 2028
Global Contactless Biometrics Technology Market is
rising due to increased demand for secure and convenient authentication methods
in various applications in the forecast period 2024-2028.
According to TechSci Research report, “Global Contactless
Biometrics Technology Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, Global Contactless Biometrics
Technology Market is experiencing rapid growth, driven by the burgeoning demand
for secure, convenient, and hygienic identity verification solutions. As
organizations and industries across the world prioritize enhanced security and
user experience, contactless biometrics technology has emerged as a compelling
solution. This technology allows individuals to authenticate their identities
through unique biological markers such as fingerprints, facial recognition, or
iris scans without the need for physical contact. The ongoing COVID-19 pandemic
has further accelerated the adoption of contactless biometrics, as it
eliminates the need for shared touchpoints, reducing the risk of disease
transmission. Industries such as finance, healthcare, government, and
transportation are embracing this technology to fortify security measures and
improve customer experiences. In finance, it's enhancing the security of mobile
payments and online banking. In healthcare, it's facilitating patient identification
and access control. In government, it's streamlining border control and citizen
services. The Global Contactless Biometrics Technology Market is poised for
continued expansion as it aligns with the evolving need for seamless and secure
identity verification in an increasingly digital and health-conscious world.
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Biometrics Technology Market”.
The global contactless biometrics technology market is
experiencing significant growth and transforming various industries by
revolutionizing the way organizations authenticate individuals, enhance
security, and streamline processes. Contactless biometrics technology refers to
the use of biometric modalities such as facial recognition, iris recognition,
fingerprint recognition, and voice recognition for authentication without
physical contact. This technology offers numerous advantages, including enhanced
security, convenience, and improved user experiences. One of the key drivers
for the global contactless biometrics technology market is the increasing need
for secure and convenient authentication solutions. Traditional methods such as
passwords and PINs are susceptible to security breaches and can be inconvenient
for users. Contactless biometrics technology provides a more secure and
reliable alternative, as biometric traits are unique to individuals and
difficult to replicate. By leveraging contactless biometrics, organizations can
enhance security measures, protect sensitive data, and mitigate the risks
associated with unauthorized access. Advancements in biometric technologies are
also fueling the growth of the global contactless biometrics technology market.
Continuous innovation in areas such as facial recognition algorithms, iris
scanning techniques, and fingerprint sensors has significantly improved the
accuracy, speed, and reliability of contactless biometrics systems. These
advancements have expanded the range of applications for contactless biometrics
technology, making it suitable for various industries such as finance,
healthcare, transportation, and government.
The adoption of contactless biometrics technology is
rapidly increasing across industries. In the finance sector, contactless
biometrics can be integrated into mobile banking applications, enabling secure
and convenient authentication for transactions. This technology not only
enhances security but also improves the user experience by eliminating the need
for passwords or PINs. In healthcare, contactless biometrics solutions are
being used for patient identification, access control, and secure authentication
of healthcare professionals. This ensures that only authorized individuals have
access to sensitive medical records and facilities, enhancing patient privacy
and overall security. The transportation industry is also leveraging
contactless biometrics technology to enhance security and efficiency. Biometric
authentication can be used for access control in airports, train stations, and
other transportation hubs, ensuring that only authorized individuals can enter
restricted areas. This technology can also facilitate seamless boarding
processes, reducing bottlenecks and improving passenger flow. The demand for
enhanced security and user experiences is driving the growth of the global
contactless biometrics technology market. Organizations are increasingly
recognizing the importance of providing secure and convenient authentication
solutions to their customers and employees. Contactless biometrics technology
offers a seamless and frictionless user experience, eliminating the need for
physical tokens or identification cards. This not only improves user satisfaction
but also enhances operational efficiency by reducing authentication time and
minimizing errors.
In conclusion, the global contactless biometrics
technology market is witnessing significant growth and transforming various
industries. The increasing need for secure and convenient authentication,
advancements in biometric technologies, growing adoption across industries, and
the demand for enhanced security and user experiences are key factors driving
this market. As organizations continue to prioritize security and user
convenience, contactless biometrics technology is expected to play a crucial
role in shaping the future of authentication and access control.
The Global Contactless Biometrics Technology Market is
segmented into Component, Application, End-use, regional distribution, and
company.
Based on application, The face biometrics technology segment
dominated the market with a revenue share of 28.4% in 2022. Facial recognition
technology is widely used for security and access control in both the public
and private sectors. This included applications in airports, government
facilities, and private organizations for authentication and surveillance.
Moreover, the iris segment is expected to register significant growth over the
forecast period. An iris-based system is accurate, fast, and convenient while
eliminating payroll frauds such as buddy punching. The growing demand for iris
biometrics technology within an organization to process payroll and calculate
other benefits such as disability, health, and vacation is expected to drive
the demand for the iris segment.
The growing COVID-19 pandemic across the
globe is pushing everyone to minimize physical contact with a common surface.
Iris identification provides authentication solutions in national and civil ID
programs, access control, and time attendance, among others. Furthermore, the
increasing adoption of iris technology by state and local agencies for border
security is further expected to drive growth. For instance, El Paso Police
Department, U.S., started using biometrics technology which combines iris-scanning,
facial recognition, and fingerprint identification capabilities to increase
border security.
Based on region, North America dominated the market with
a share of over 32.0% in 2022. This dominance can be attributed to the presence
of technology providers, such as nVIAsoft Corporation, HID Global, M2SYS
Technology, and BioConnect, in the region. Increasing demand for contactless
biometrics solutions by payment solution providers to offer secure transactions
to their customers in the region is further expected to drive regional growth.
For instance, in October 2019, SnapPay, Inc., a provider of payment solutions, announced
the availability of facial recognition-based payment technology for merchants
in North America.
The rising adoption of contactless
biometrics solutions in defense and government applications is also expected to
drive the demand for the market in North America. Furthermore, increasing
government initiatives to implement contactless biometrics solutions to deal
with an increasing number of travellers and to increase security at airport
facilities are expected to drive regional demand. For instance, the Canadian
Border Services Agency installed kiosks that utilize facial recognition
technology at airports. The new technology utilized both facial recognition and
fingerprint biometrics to facilitate clearance procedures for travellers at
airports in Canada.
Major companies operating in Global Contactless
Biometrics Technology Market are:
- NEC Corporation
- Gemalto N.V. (Thales Group)
- IDEMIA
- Fingerprint Cards AB
- Aware, Inc.
- HID Global Corporation
- Suprema Inc.
- BIO-key International, Inc.
- M2SYS Technology
- Crossmatch
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“The global contactless biometrics technology market
is experiencing significant growth, driven by the increasing demand for secure
and convenient authentication solutions. This technology revolutionizes the way
organizations authenticate individuals, enhance security, and streamline
processes. Advancements in biometric technologies, such as facial recognition
and fingerprint scanning, have improved accuracy and reliability, expanding the
range of applications across industries like finance, healthcare, transportation,
and government. Contactless biometrics solutions offer enhanced security,
convenience, and improved user experiences by eliminating the need for
passwords or physical tokens. In finance, it enables secure transactions and
improves user satisfaction. In healthcare, it ensures patient privacy and
access control. In transportation, it enhances security and efficiency in
access control and boarding processes. The market's growth is driven by the
increasing focus on security and user experience, as organizations prioritize
secure and convenient authentication solutions. With the continuous
advancements in biometric technologies and growing adoption across industries,
contactless biometrics technology is expected to play a crucial role in shaping
the future of authentication and access control.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Contactless Biometrics Technology Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Component (Hardware, Software, Service), By
Application (Face, Fingerprint, Hand Geometry, Iris, Voice, Others), By End-use
(Government, Banking & Finance, Consumer Electronics, Healthcare, Transport
& Logistics, Defense & Security, Others), By Region, By Competition”, has evaluated the future growth potential of Global
Contactless Biometrics Technology Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Contactless Biometrics Technology Market.
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