The Contactless Biometrics Technology Market size is anticipated to grow to US$ 71,407.4 Mn by 2030, recording 17.6% during 2022-30. As biometrics has become a vital component within enterprises, institutions, and government facilities, contactless biometrics has gained a lot of traction offering the highest level of security mechanism.
Various contactless biometric modalities include facial recognition, iris recognition, palm vein recognition, contactless fingerprint technology and voice biometrics, which offer a significant benefit over traditional touch-based biometrics in terms of hygiene, accuracy, low maintenance and enhanced security.
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Key Takeaways of Contactless Biometrics Technology Market Study
- North America is expected to hold a significant share in the global contactless biometrics market during the forecast period, due to high adoption of touchless biometrics systems for government and military applications.
- By Technology, facial recognition is estimated to contribute the largest market share, as this contactless biometrics modality is widely implemented for identity verification and access control.
- Identity verification application to witness the highest growth rate during the forecast period, followed by access control application, where such technologies are widely adopted.
- Demand for contactless biometrics solutions among government agencies would surge, amid the COVID-19 outbreak, due to need for touchless biometrics systems for public safety applications.
COVID-19 Pandemic Impact Analysis
COVID-19 outbreak has been a prime catalyst for the growth of adoption of contactless biometrics solutions. With the spread of this deadliest virus worldwide, various organizations, governments and institutions are now focusing on hygiene and secure way of verifying the personal identities, providing access controls to the users, without any physical contact with the security infrastructure. Governments across the world has ramped up their measures to adopt contactless biometrics technologies to swiftly respond to the crisis.
There is nearly US$ 2.0 Bn absolute dollar opportunity in the year 2022 from 2011, for global contactless biometrics market, with market growing by about 16-17% YoY in the next 3 years. Amid the COVID-19 crisis, many startups and enterprises have developed and launched contactless biometrics systems, to contain the spread of this virus and ensure organizational security.
For instance, an Indian technology startup INCUBSENCE reported 75% surge in demand for touchless biometric attendance systems. UnionCommunity reported nearly 200% increase in sales of its biometric face and iris recognition products across the Middle East region.
Many companies in Japan are rapidly deploying contactless biometric solutions amid the coronavirus threat, partnering with NEC for facial recognition biometrics. Innovatrics is offering free ID verification module to developers in Slovakia, against their fight to COVID-19 pandemic outbreak.
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Increasing Adoption of Facial Recognition Technology to Propel Sales
Facial recognition technology has been gaining momentum since recent times, as it is one of the most adopted contactless biometrics modalities. From daily common tasks such as unlocking mobiles, to digital banking identity verification, and identity authentication for government applications, facial recognition market traction will continue to grow. Amid the COVID-19 outbreak, various countries are widely adopting facial recognition solutions to track and trace COVID-19 patients.
For instance, Indian law enforcement agencies are using facial recognition software for monitoring COVID-19 patients. Russia has also deployed facial recognition systems to keep track of its citizens. With the increasing intensity and frequency of the COVID-19 cases, governments and organizations around the world, relay of such contactless biometrics technologies to contain and control the outbreak, which will fuel the market growth.
More Valuable Insights on Contactless Biometrics Technology Market
Future Market Insights offers an unbiased analysis of the global contactless biometrics technology market, providing historical data for 2015-2021 and forecast statistics from 2022-2030.
Contactless Biometrics Technology Market Outlook by Category
By Technology:
- Contactless Fingerprint Technology
- Facial Recognition
- Iris Recognition
- Palm Vein Recognition
- Voice Recognition
- Contactless Cards
By Component:
- Hardware
- Contactless Fingerprint Scanners
- Facial Recognition Scanners
- Iris Recognition Scanners
- Palm Vein Scanners
- Others
- Software
- Integrated Biometrics Software
- Standalone Software/Middleware
- Services
- Professional Services
- Managed Services
By Application:
- Identity Verification
- Payments & Transactions
- Access Control
By Industry:
- BFSI
- Government & Law Enforcement
- Healthcare
- Military & Defense
- Retail
- Others
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Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East & Africa
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