Contactless Biometrics Technology Market
The time consumption will be drastically reduced for a less intrusive biometric authentication device. This will also contribute to fewer tensions and less frustrated and unpleasant staff. Intrusiveness may lead to an increase in the time taken for successful authentication due to a waste of time in proper contact with the biometric system. It can significantly raise friction and annoyance due to failed attempts and inaccurate touch. As fingerprint recognition is becoming increasingly common, other biometric technologies like voice, facial and even vein pattern recognition is swiftly flooding the market. The deployment of fingerprint recognition for contactless card payments instead of PIN numbers is one of the areas that the banks and card issuers explore extensively.
The outbreak of COVID-19 was the key cause for the development and acceptance of contactless biometric technologies. Organizations, institutions and governments are still focused on hygiene with the spread of this deadly virus around the world. Contactless biometrics technology plays a crucial role in verifying personal identities by providing users with access controls without any physical contact with the security infrastructure. In addition, governments around the world have stepped up measures to adopt contactless biometric technologies to respond quickly to the crisis of COVID-19. This is anticipated to boost the demand for contactless biometrics technologies among government agencies for public safety surveillance.
Contactless Biometrics Technology Market: Introduction
- Contactless biometrics technology is a technique of identifying different faces on a large scale. It is used to enhance the security through biometric face recognition. In addition, contactless biometrics is used to collect data of an individual through face detection, recognition, and on a cloud platform.
- Contactless biometrics technology is a highly accurate and reliable system for personal biometric identification (including contactless modalities) and used for registration, time attendance, and management of personnel.
- The COVID-19 outbreak has been the main catalyst for the growth and adoption of contactless biometrics technology. Organizations, institutions, and governments are now focusing on hygiene with the spread of this deadly virus across the world. In order to verify personal identities, by providing access controls to users, without any physical contact with the security infrastructure, Contactless biometrics technology is playing a crucial role. Beside it, governments across the world have ramped up measures to adopt contactless biometrics technologies to swiftly respond to the crisis of COVID-19. This is expected to enhance the demand for contactless biometrics technology among government agencies for public safety monitoring.
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Global Contactless Biometrics Technology Market: Dynamics
Global Contactless Biometrics Technology Market: Key Drivers and Restraints
- Growing concern among consumers for technologically advanced security is expected to boost the contactless biometrics technology market.
- High adoption rate of biometrics in the healthcare industry is expected to drive the contactless biometric technology market.
- Growing usage of automatic identification and data capture (AIDC) technology in retail industry and e-commerce is expected to fuel the market
- Furthermore, the BFSI sector, border control applications, and increasing support from government legislation to encourage the use of contactless authentication technology is further expected to drive the market.
- Rising penetration of smartphones and tablets coupled with companies focusing on facial recognition software in smartphones, by adding a layer of verification to unlock the smartphones is anticipated to drive the demand for contactless biometrics technology.
- However, the high cost of contactless biometrics solutions is expected to obstruct the growth of the market.
- Growing adoption of cloud-based services such as Artificial Intelligence (AI) and Machine Learning (ML) for contactless biometrics technology is expected to drive the demand for contactless biometrics technology, in order to strengthen the compatibility of devices for different applications.
North America to Account for Major Share of the Global Contactless Biometrics Technology Market
- In terms of region, the global contactless biometrics technology market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global contactless biometrics technology market, due to high adoption of touch-less biometrics systems for government and military applications.
- For instance, in April 2017, the El Paso Police Department, U.S. started using biometrics technology which combines iris-scanning, facial recognition, and fingerprint identification capabilities to increase border security.
- The contactless biometrics technology market in Asia Pacific is expected to hold significant share due to growing terrorist attacks and rising adoption of contactless biometrics technology in defense and government applications. This is expected to fuel the growth of the contactless biometrics technology market across Asia Pacific.
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Global Contactless Biometrics Technology Market: Competitive Landscape
Key Players Operating in the Global Contactless Biometrics Technology Market
Local, regional, and international players are present in the contactless biometrics technology market. The market is highly consolidated, with top manufacturers accounting for approximately 25%–30% of the market share. Key players operating in the global contactless biometrics technology market are:
- Aware Inc.
- Fingerprint Cards AB
- Fujitsu Limited
- Gemalto N.V.
- HID Global
- M2SYS Technology
- NEC Corporation
- Touchless Biometric Systems AG
Global Contactless Biometrics Technology Market: Research Scope
Global Contactless Biometrics Technology Market Segmentation, by Technology
- Contactless Fingerprint Technology
- Facial Recognition
- Iris Recognition
- Palm Vein Recognition
- Voice Recognition
- Contactless Cards
Global Contactless Biometrics Technology Market Segmentation, by Application
- Identity Verification
- Payments & Transactions
- Access Control
Global Contactless Biometrics Technology Market Segmentation, by Component
- Contactless Fingerprint Scanners
- Facial Recognition Scanners
- Iris Recognition Scanners
- Palm Vein Scanners
- Integrated Biometrics Software
- Standalone Software/Middleware
- Facial Recognition Software
- Vein Recognition Software
- Iris Recognition Software
- Training and Consulting
- Integration and Deployment
- Support and Maintenance
Global Contactless Biometrics Technology Market Segmentation, by Industry
- Government & Law Enforcement
- Military & Defense
- Others (Education, Hospitality, Automotive etc.)
Global Contactless Biometrics Technology Market Segmentation, Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
Global Contactless Biometrics Technology Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.