Since contactless biometrics innovation is giving innovative and new approaches to use the intensity of biometrics, the market is anticipated to develop at a 17.4% CAGR during the figured time frame (2020-2030). Contactless biometrics includes ‘touchless’ innovation for identity check access control, transactions, and payments, with no physical user engagement.
As biometrics have become an important part of government facilities, institutions, and enterprises, contactless biometrics has increased a great deal of footing offering a most elevated level of the security system. Different contactless biometric modalities incorporate voice biometrics, contactless fingerprint technology, palm vein recognition, iris recognition and facial recognition, which provides a huge advantage over conventional touch-based biometrics as far as enhanced security, low maintenance, accuracy, and hygiene.
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Key Takeaways of Market Research
- North America is likely to account for a remarkable share in the worldwide contactless biometrics market amid the assessment period, as a result of the higher implementation of touchless biometrics systems for military and government applications.
- By Technology, facial recognition is projected to add the biggest market share, since this contactless biometrics modality is broadly carried out for access control and identity verification.
- Identity verification application to foresee the biggest development pace amid the assessment period, trailed by access control application, where these technologies are extensively implemented.
- Need for contactless biometrics solutions amid government agencies will upsurge, amidst the COVID-19 outbreak, because of demand for public safety applications for touchless biometrics systems.
Contactless biometrics technology provides an innovative and much safer mode on the basis of convenience and hygiene, amid the COVID-19 outbreak, which will boost the need for iris recognition, facial recognition, and other touchless biometric modalities. Several biometrics startups, to pave the way for coronavirus containment, and foremost participants are quickening the expansion of novel contactless biometrics products.
The recent outbreak has been a foremost medium for the expansion of the implementation of contactless biometrics solutions. With the rise of this deadliest virus globally, several organizations, institutions, and governments are now concentrating on secure and hygiene way of affirming the personal identities, offering access controls to the users, with no physical contact with the security infrastructure. Governments all over the world have worked up their measures to implement this technology to quickly react to the crisis.
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There is close to US$ 2.0 Billion absolute dollar prospect in the year 2020 from 2019, for the worldwide market for contactless biometrics, with the market expanding by around 16-17% YoY in the approaching three years. Amidst the COVID-19 crisis, several enterprises and startups have launched and developed contactless biometrics systems, to hold the virus spread and ascertain organizational security.
For example, INCUBSENCE, an Indian technology startup recorded a 75% surge in requirement for touchless biometric attendance systems. Union Community recorded close to 200% rise in sales of its iris recognition and biometric face products all over the Middle East region. Several companies in Japan are quickly spreading contactless biometric solutions amidst the COVID-19 danger, collaborating with NEC for facial recognition biometrics. Innovatrics is providing a free ID verification module to developers in Slovakia, alongside their fight to coronavirus pandemic outbreak.
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