Contactless Biometrics Technology Market Size Is Predicted To Reach $35.05 Billion By 2028 | CAGR: 20.6%: Polaris Market Research

September 15 03:06 2021
Contactless Biometrics Technology Market Size Is Predicted To Reach $35.05 Billion By 2028 | CAGR: 20.6%: Polaris Market Research
Polaris Market Research
The global contactless biometrics technology market was valued at USD 8.11 billion in 2020 and is expected to reach USD 35.05 billion by 2028 to grow at a CAGR of 20.6% during the forecast period

The contactless biometrics technology market size is expected to reach USD 35.05 billion by 2028 according to a new study by Polaris Market Research. The report “Contactless Biometrics Technology Market Share, Size & Trends Analysis Report, By End-Use (Banking & Finance, Government, Consumer Electronics, Healthcare, Transport & Logistics, Defense & Security, Others); By Component; By Application; By Region; And Segment Forecasts, 2021 – 2028”gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The factor driving the market growth for contactless biometrics technology is increasing demand for high-level protection in the residential, industrial, and public sectors. Owing to increased terrorist activities and possible dangers, market demand for facial and voice recognition software in security and surveillance applications has risen significantly in recent years.

 

This contactless biometrics software is widely used for identification purposes at airports, but its use has been growing at customs and border checks, as well as by police to identify and detain people at demonstrations in recent years.

 

The rapid growth of contactless biometric technology is being fueled by rapid advances in automatic identification and data capture technology in e-commerce, retail, border control, and BFSI. Government policies to promote the use of touchless technology are also propelling the industry forward.

 

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The use of voice and facial recognition systems in the banking and financial industry is growing in tandem with the growth of digital banking around the world. Contactless biometrics provide an extra layer of protection, are more convenient, and are a more user-friendly method of verifying customers in order to provide a superior and consistent experience.

 

Increased demand for smartphones and tablets with facial recognition features for added security is also driving the market growth for Increased demand for smartphones and tablets with facial recognition features for added security is also driving the market growth for contactless biometrics technology.

 

Competitive Insight :

 

The global market for contactless biometrics technology has some major key players which are operating it, which includes Fujitsu Limited, Aware Inc., Touchless Biometric Systems AG, NEC Corporation, IDEMIA, Fingerprint Cards AB, HID Global, nViaSoft, M2SYS Technology, and Gemalto N.V. These companies contribute to the market by being part of mergers & acquisitions or launching new products. Fingerprint Cards AB announced the release of the latest FPC1025 sensor in May 2020. The company has expanded its touch sensor portfolio with this launch.

 

This sensor aims to provide the best biometric output while using the least amount of electricity, and it will be available in a variety of form factors. Devices and applications that need reliable, streamlined user authentication may use FPC1025.

 

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Polaris Market Research has segmented the contactless biometrics technology market report on the basis of component, application, end-use, and region:

 

Contactless Biometrics Technology, Component Outlook (Revenue – USD Million, 2021 – 2028)

 

  • Software
  • Hardware
  • Service

Contactless Biometrics Technology, Application Outlook (Revenue – USD Million, 2021 – 2028)

 

  • Face
  • Fingerprint
  • Hand Geometry
  • Iris
  • Voice
  • Others

Contactless Biometrics Technology, End-Use Outlook (Revenue – USD Million, 2021 – 2028)

 

  • BFSI
  • Government
  • Consumer Electronics
  • Healthcare
  • Transport & Logistics
  • Defense & Security
  • Others

Contactless Biometrics Technology, Regional Outlook (Revenue – USD Million, 2021 – 2028)

 

  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

 

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers

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