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Pulished Date July, 2021
ID: 11884
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Contactless Biometrics Technology Market Research Report - Segmented By Component (Software, Hardware And Services), By Application (Face, Fingerprint, Hand Geometry, Iris, Voice), By End Use (Government, Banking And Finance, Consumer Electronics, Healthcare, Transport And Logistics, Defence And Security) And By Geography (North America, Asia Pacific, Europe, LATAM, MEA) - Forecast (2021-2026)

Pulished: July, 2021
ID: 11884
Pages: 150

Contactless Biometrics Technology Market Analysis (2021-2026)

The Contactless Biometrics Technology Market was worth US$ 8.25 billion in the year 2020, and it is estimated to reach a valuation of US$ 30.15 billion by the end of 2026, expanding at an annual growth rate of 20.3% between 2021 and 2026.

The growing demand for high level of security in commercial, public and private sector is a factor that is expected to lead the Contactless Biometrics Technology market during the forecast period.

The process through which a person’s exclusive traits are recorded and recognized by means of an electric device is known as Biometrics, the contactless biometric technology is nothing but it offers the use of touchless authentication technology which offers a safer mode reliant on convenience and hygiene in which this technology is exceptionally accurate and also the consistent system for the detection of personal biometrics and it is also applied for the registration, turnout and administration of the personnel.

Contactless Biometrics Technology Market

Drivers

Rising adoption of contactless biometrics solutions in financial institutions for securing the financial transactions, rising penetration of smartphones and tablets which coupled with manufacturers focus on facial recognition for the smartphones which acts as an added layer for the verification to unlock their smartphones, rising demand for secure, hygienic, convenient authentication system in condominiums and clubs, growing usage of automatic identification and data capture technology in e-commerce and retail industry is expected to play an essential role in the growth of Contactless Biometrics Technology market across the globe. Another factor such as increasing support from the government legislation to encourage the use of touchless authentication technology across the globe which influence the growth of Contactless Biometrics Technology market during the forecast period. Factors such as growing number of air travelers across the globe which has increased the demand for more secured and advanced identification solutions at the airport facilities are some of the major driving factors which promotes the growth of the revenue rate of Contactless Biometrics Technology market during the forecast period.

Restraints

High cost of the contactless biometric solutions is one of the important barriers to market growth. Also, the data theft or the identity theft acts as an important deterrent to the growth of the Contactless Biometrics Technology market.

Market Segmentation

By component, the Contactless Biometrics Technology Market is divided into hardware, software and service (professional services and managed services ) . The software segments held the prominent and is predicted to remain at the forefront throughout the forecast period due to the factors such as growing adoption of cloud based services, Artificial Intelligence and machine learning for the contactless biometric solutions.

By application, the Contactless Biometrics Technology Market is divided into face, fingerprint, hand geometry, Iris, Voice and other applications. The iris segment holds the major share of the market and this region is expected to hold the dominance during the forecast period since the iris based system is accurate, fast and convenient while eliminating the payroll frauds such as buddy punching and also the growing demand for the iris biometrics technology within an organizations to process the payroll.

By end use, the Contactless Biometrics Technology Market is divided into government, banking and finance, consumer electronics, healthcare, transport and logistics, defense and security and other segments. The government segment held prominent share of the market among the other segments since the governments across the globe has started adopting the contactless biometrics technology to reduce the criminal activities that are happening.

Regional Analysis

On the basis of region, the Contactless Biometrics Technology market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region.

North America region hold the prominent share of the market due to the presence of technology providers in the region especially in some of the countries such as United States and Canada such as nVIAsoft corporation, HID global, M2SYS technology and also BioConnect. Furthermore, rising adoption of contactless biometrics solutions in defense and government applications, increasing of government initiatives to implement the contactless biometrics solutions to deal with increasing number of travellers and also to increase the security at airport facilities propels the growth of the market. The North America region is expected to hold the dominance during the forecast period.

Asia Pacific region is also expected to increase the market growth due to the rising number of enterprises in the world and also the entry of new industry players in some of the major economies of the region such as India, China and Japan propels the growth of the revenue rate of the enterprises software market during the forecast period. Furthermore, the increasing of investments by the major key players of the market for R & D activities and also for the new advancements in the technology is also one of the major driving factor which promotes the growth of the revenue rate of the Contactless Biometrics Technology market.

Europe region will gain good profits of the market followed by North America region and Asia Pacific region during the outlook period.

Latin America is expected to have the significant growth opportunities in the coming years. Middle East and Africa is likely to have the fastest growth rate in the forecast period 2021-2026.

Key Players

Key market participants of Contactless Biometrics Technology market are IDEMIA, nViaSoft, Fujitsu Limited, NEC Corporation, Touchless Biometric Systems AG, Fingerprint Cards AB, Gemalto N.V., Aware Inc., HID Global, and M2SYS Technology.

Impact of COVID 19 for Contactless Biometrics Technology Market

The COVID 19 pandemic has prompted a shift towards the new trend social distancing which influencing the organizations to move from contact based biometrics technology to contactless biometrics solutions The market of contactless biometrics solutions has increased during the COVID 19 pandemic since the need for contactless biometrics has increased to broader use for early detection, public safety monitoring, and patient screening which made the market to have an impeccable growth rate and it will also grow further in the future.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Contactless Biometrics Technology Market, By component

                                6.1.1 software  

                                6.1.2 hardware

                                6.1.3 services    

                                6.1.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.5 Y-o-Y Growth Rate Analysis              

                                6.1.6 Market Attractiveness Index           

                6.2 Contactless Biometrics Technology Market, By Application

                                6.2.1 face           

                                6.2.2 fingerprint              

                                6.2.3 hand geometry     

                                6.2.4 Iris              

                                6.2.5 Voice         

                                6.2.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.7 Y-o-Y Growth Rate Analysis              

                                6.2.8 Market Attractiveness Index           

                6.3 Contactless Biometrics Technology Market, By end use

                                6.3.1 government           

                                6.3.2 banking and finance           

                                6.3.3 consumer electronics         

                                6.3.4 healthcare              

                                6.3.5 transport and logistics        

                                6.3.6 defence and security          

                                6.3.7 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.8 Y-o-Y Growth Rate Analysis              

                                6.3.9 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By component       

                                7.2.3 By Application       

                                7.2.4 By end use              

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By component       

                                7.3.3 By Application       

                                7.3.4 By end use              

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By component       

                                7.4.3 By Application       

                                7.4.4 By end use              

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By component       

                                7.5.3 By Application       

                                7.5.4 By end use              

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By component       

                                7.6.3 By Application       

                                7.6.4 By end use              

8. Key Player Analysis                                    

                8.1  Fujitsu Limited                         

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 IDEMIA                        

                8.3 nViaSoft                      

                8.4 NEC Corporation                      

                8.5 Touchless Biometric Systems AG                       

                8.6 Fingerprint Cards AB                               

                8.7 Gemalto N.V                              

                8.8 Aware Inc                    

                8.9 HID Global                  

                8.10 M2SYS Technology               

9. Market Outlook & Investment Opportunities                                 

Appendix

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • Segment-level analysis in terms of component, application, end use along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Global Contactless Biometrics Technology Market By Region, From 2021-2026 ( USD Billion )
  2. Global Contactless Biometrics Technology Market By component , From 2021-2026 ( USD Billion )
  3. Global software Market By Region, From 2021-2026 ( USD Billion )
  4. Global hardware  Market By Region, From 2021-2026 ( USD Billion )
  5. Global services Market By Region, From 2021-2026 ( USD Billion )
  6. Global Contactless Biometrics Technology Market By Application, From 2021-2026 ( USD Billion )
  7. Global face Market By Region, From 2021-2026 ( USD Billion )
  8. Global fingerprint Market By Region, From 2021-2026 ( USD Billion )
  9. Global hand geometry Market By Region, From 2021-2026 ( USD Billion )
  10. Global Iris Market By Region, From 2021-2026 ( USD Billion )
  11. Global Voice Market By Region, From 2021-2026 ( USD Billion )
  12. Global Contactless Biometrics Technology Market By end use, From 2021-2026 ( USD Billion )
  13. Global government Market By Region, From 2021-2026 ( USD Billion )
  14. Global banking and finance Market By Region, From 2021-2026 ( USD Billion )
  15. Global consumer electronics Market By Region, From 2021-2026 ( USD Billion )
  16. Global healthcare Market By Region, From 2021-2026 ( USD Billion )
  17. Global transport and logistics Market By Region, From 2021-2026 ( USD Billion )
  18. Global defence and security Market By Region, From 2021-2026 ( USD Billion )

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