SecurityWorldMarket

19/05/2022

Contactless biometrics market to reach $39.8 billion by 2027

Northbrook, Il (USA)

According to the latest research information from Marketsandmarkets, the contactless biometrics market is projected to grow from USD 19.7 billion in 2022 to USD 39.8 billion by 2027, at a CAGR of 15.1% during the forecast period.

The major driving factors contributing to the high growth rate of contactless biometrics market include increased use of contactless biometrics technology post the pandemic, government initiatives that support the adoption of contactless biometrics solutions, smartphones and tablet adoption, and growing security concerns and hygiene issues among users due to touch-based systems.

Based on offerings, contactless biometrics services have witnessed a growing demand in recent years. Contactless biometric services deliver biometric onboarding and authentication capabilities, and it eliminates the cost associated with the database, network, and storage components. Contactless biometrics services include professional services and managed services. Professional services are further classified into training and consulting services, feasibility assessment services, analysis, and advisory services. Managed services are expected to grow at a higher rate as it offers organisations to reduce effort, time, money, and risks. Its demand is driven by increasing users and data-security initiatives by the government. Moreover, the growing usage of mobile devices and rising demand for robust fraud detection and prevention systems is also helping the market.

Criminal identification & forensics is strongest application 

Contactless biometric solutions can be very useful during criminal investigations, for example, forensic biometrics uses fingerprints, palm prints, hand vasculature, hand shape, face, DNA, face, voice, iris, etc. In February 2022, Edmonton Police Service (EPS) in Canada adopted Neoface Reveal facial recognition solution by NEC Corporation for identifying suspects in investigations through CCTV footage and photos. The software will help the police force with their databases that include criminal photos charged earlier for heinous crimes. Also, the software enables the detection of false information of the individuals in custody through facial recognition abilities.

North America holds the major share

In the US, rising security concerns due to abrupt terrorist activities as well as illegal immigrants entering the region have increased the demand for contactless biometric technologies to maintain high-level security. As identified by the US Federal Trade Commission, identity theft problems could drive the adoption of advanced authentication methods. The emergence of various government regulations and standards for the protection and security of personal data and to regulate its collection and use of biometric data has led to the promotion of biometric technologies for authentication and verification purposes. Touchless biometric products and workforce management platforms are in demand in North America due to the Covid-19 pandemic. The return to work is also scattered with various health concerns. A need for preventive measures has been created in the workplaces, shopping malls, airports, and other public places. Contactless biometric vendors in North America are helping companies, organisations and government entities implement safer work environment solutions.

Key market players

Key and innovative vendors in contactless biometrics market include Aware, Fingerprint Cards, Fujitsu, HID Global, Idemia, M2sys, NEC, Nviasoft, Touchless Biometrics Systems, Thales, Veridium, Bioconnect, Innmovatrics, Cognitec, Dermalog Identification Systems, Secugen, Neurotechnology, Shufti Pro, Fidentity, Daon, Nviso, Noldus, Blue Biometrics True Face, Veridos, annd ID R&D.


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