Uploaded on Apr 5, 2023
Contactless Biometrics Market
Contactless Biometrics Market
Contactless
Biometrics
Market
: Future
of Healthcare in
an Aging World
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The contactless biometrics market contributes $17,389.2 million revenue in 2021, and it is
projected to rise at a rate of 14.6% from 2021 to 2030, and generate $59,501.4 million revenue
by 2030. It is ascribed to the rising preference for contactless biometric technologies, increasing
security concerns, and government initiatives that encourage contactless biometric systems.
For example, there is an ongoing progression in the implementation of Aadhar for contactless
and facial authentication for various services. Thus, it will boost the banking and financial
services sector.
The contactless biometric systems are utilized for forensics & criminal identification, access
control, onboarding, and KYC. The rising identity theft & fraudulent activities, along with
increased usage of the digital identity for various use cases across verticals result in the
growing demand for the systems for forensic and criminal identification purposes.
The software category holds a significant share of the contactless biometric industry,
accounting for 40%, and it is projected to retain its position in the coming years, due to the
growing demand for software to enhance device compatibility for various applications. In
addition, the rise in the queue-less passenger checks demand, fast and secure access controls,
seamless border crossing, and quick identification to facilitate ease of convenience and security
boost the industry growth.
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The services category captures the third position, regarding market share, and it is projected to
witness higher growth in the near future. It is ascribed to the training & consulting services,
feasibility assessment services, analysis, and advisory services, and managed services, as they
hold prominence for end users for efficiently operating the biometric systems.
Face recognition technology captures a significant share of the contactless biometric industry,
ascribed to wide usage by end users, as it is reliable, economic, and facilitates high-level
security. The iris recognition technology is projected to reflect the fastest growth in the coming
future, ascribed to the technology that keeps away facial recognition drawbacks. This
technology functions by exposing the iris to infrared light that discloses internal complex
patterns.
Furthermore, the contactless biometric card technology demand is projected to register the
highest growth in the coming years, led by an extensive rise in contactless payments.
Therefore, companies are focusing on advanced facial recognition software and solutions
development, which in turn proliferates the contactless payments industry.
Under the end-user segment, the government sector generates the largest revenue share in the
contactless biometrics industry, accounting for 30%. It is led by the massive adoption of
contactless biometric systems by numerous national governments. For example, contactless e-
channels are installed at Hong Kong International Airport with QR code scanning and facial
recognition technology for immigration.
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biometrics-market
North America holds the extensive share of the contactless biometrics industry, accounting for
30%, ascribed to the demand for seamless border crossing, speedy identification of individuals,
rapid and secure access controls, and queue-less passenger checks. In addition, the illegal
immigrants inflowing, unexpected terrorist operations results in growing security concerns,
which in turn boost the demand for contactless biometric solutions in the region.
The next-largest contributor to the industry is Europe for the contactless biometrics industry. It
is projected to witness the fastest growth in the near future, ascribed to the rising adoption of
touchless biometric systems in government and military applications in the nation.
Therefore, the surging demand for contactless biometric solutions led by the rising security
concerns, and the efficiency of these systems boost the industry.
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