Overview and Scope
The contactless biometric refers to a technology that is used for identification and authentication or to identify people under surveillance. The use of contactless biometric verification permits user authorization without requiring a person to touch any machine sensors. In addition, behavioral security technologies and multi-factor authentication utilizing non-contact biometrics are much more secure than the procedures are accustomed to.
Sizing and Forecast
The contactless biometrics market size has grown rapidly in recent years. It will grow from $19.58 billion in 2023 to $22.85 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period can be attributed to increased concern for hygiene and infection control, rising demand for secure and convenient identity verification, growing adoption of contactless technologies in various industries, enhanced user experience and convenience in biometric authentication, growing demand for fast and secure access controls.
The contactless biometrics market size is expected to see rapid growth in the next few years. It will grow to $42.81 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to expansion of contactless biometrics in healthcare for patient identification, implementation of contactless biometrics in smart city initiatives, rising demand for contactless biometrics in financial transactions, integration of contactless biometrics in access control systems, expanding regulatory requirements for data protection and privacy. Major trends in the forecast period include advancements in sensor technology for biometric authentication, development of touchless fingerprint recognition technology, adoption of facial recognition in contactless biometric systems, integration of contactless iris recognition for secure authentication, utilization of behavioral biometrics for continuous authentication
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Segmentation & Regional Insights
The contactless biometrics market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Contactless Fingerprint Technology, Facial Recognition, Iris Recognition, Palm Vein Recognition, Voice Recognition, Contactless Cards
3) By Application: Face, Fingerprint, Hand Geometry, Iris, Voice, Other Apllications
4) By End User: Government, BFSI, Consumer electronics, Healthcare, Transport And logistics, Defense And Security, Other End Users
North America was the largest region in the contact biometric market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the contactless biometrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise of contactless payment systems is driving the growth of the contactless biometric market. Contactless payment is a wireless financial transaction in which a client authorizes payment for a purchase by bringing a security token very near the point of sale (PoS) scanner of the merchant. For instance, in September 2023, according to the Consumer Financial Protection Bureau, a US-based autonomous department in charge of consumer protection in the financial industry, there were approximately 25 million Google Pay customers in the United States in 2021, and in 2022, $65.2 billion was spent at retailers using Google Pay, a rise from a total of $24.8 billion in 2021. Therefore, demand for contactless biometrics will rise as the prevalence of increasing contactless payment systems rises.
Key Industry Players
Major companies operating in the contactless biometrics market report are Touchless Biometric Systems AG, IDEMIA SAS, nVIAsoft Corporation, Fujitsu Limited, NEC Corporation, Fingerprint Cards AB, Megvii, Suprema Inc., Thales Group, Crossmatch Solutions Inc., Synaptics Incorporated, Aware Inc., HID Global Corporation, BIO-key International Inc., FaceTec Inc., IDEX Biometrics ASA, Precise Biometrics AB, M2SYS Technology, Innovatrics s. r. o., Egis Technology Inc., Shenzhen Goodix Technology Co. Ltd., ZKTeco Inc., NEXT Biometrics Group ASA, Veridium Ltd., Neurotechnology UAB, Zebra Medical Vision Ltd., Cognitec Systems GmbH, Zwipe AS, 3M Cogent Inc., Daon Holdings Limited
The contactless biometrics market report table of contents includes:
1. Executive Summary
2. Contactless Biometrics Market Characteristics
3. Contactless Biometrics Market Trends And Strategies
4. Contactless Biometrics Market – Macro Economic Scenario
5. Global Contactless Biometrics Market Size and Growth
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26. South America Contactless Biometrics Market
27. Brazil Contactless Biometrics Market
28. Middle East Contactless Biometrics Market
29. Africa Contactless Biometrics Market
30. Contactless Biometrics Market Competitive Landscape And Company Profiles
Top Major Players:
- Touchless Biometric Systems AG
- IDEMIA SAS
- VIAsoft Corporation
- Fujitsu Limited
- NEC Corporation
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