The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.
The global contactless biometrics market size was USD 17.26 Billion in 2021 and is expected to register a revenue CAGR of 15.55% during the forecast period, according to the latest analysis by Emergen Research. Increasing funding for facial recognition systems is a major factor expected to support revenue growth of the market during the forecast period. In addition, revenue growth of the market is driven by rising demand from the banking, retail, and healthcare sectors as well as increase in smartphone use. Most consumers today depend on face and iris recognition technology to protect their possessions. Companies are implementing improved security features such as pulse biometric applications and others with highly developed Artificial Intelligence (AI)-based technologies to take advantage of this, which is contributing to revenue growth of the market.
Covid impact analysis:
The report considers COVID-19 as a key contributor of the dynamically altered market scenario. The report covers a comprehensive impact analysis of the global health crisis on the overall growth of the market. Furthermore, the report covers the current and future impact of the COVID-19 crisis on the market and its key segments.
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Competitive Outlook:
The global Contactless Biometrics Market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Contactless Biometrics Market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry include: Fingerprint Cards AB, Aware, Inc., Fujitsu Limited, IDEMIA, HID Global Corporation, Touchless Biometric Systems AG, nVIASoft Corporation, NEC Corporation, M2SYS Technology, Blue Biometrics, ASSA ABLOY, MeReal Biometrics Limited, Untethered Labs, Inc., and T3K-Forensics GmbH.
Objective:
The objective of this report is to provide a comprehensive analysis of the tachograph cards market, including market size, growth potential, key drivers and restraints, trends, and competitive landscape.
Emergen Research has segmented the global contactless biometrics market on the basis of offering, application, end-use, and region:
· Offering Outlook (Revenue, USD Billion; 2019–2030)
- Multimodal Biometrics Solution
- Software
- Integrated Biometrics Software
- Standalone Software
- Vein Recognition
- Facial Recognition
- Iris Recognition
- Others
- Hardware
- Contactless Fingerprint Scanners
- Palm Vein Scanners
- Voice Recognition Devices
- Contactless Smart Cards & Readers
- Others
- Services
- Managed Services
- Professional Services
· Application Outlook (Revenue, USD Billion; 2019–2030)
- KYC & Onboarding
- Criminal Identification & Forensic
- Access Control
- Others
· End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Government
- Defense & Security
- Travel and Hospitality
- Transport & Logistics
- Healthcare
- Others
Region wise performance of the Contactless Biometrics Market industry
North America Contactless Biometrics Market forecast is expected to remain significantly positive in terms of revenue share between 2020 and 2030 . In addition, North America Contactless Biometrics Market revenue share is expected to remain comparatively larger than that of other regional markets from 2020 to 2030 .
Asia Pacific registered fastest revenue CAGR in 2020, and the Contactless Biometrics Market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2030 .
Europe Contactless Biometrics Market forecast is positive currently, with revenue growth expected to remain steady between 2020 and 2030 . Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Contactless Biometrics Market growth.
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Questions addressed in the report:
- What is the estimated market growth rate throughout the forecast period?
- Which end-use industry is expected to witness the highest demand for Contactless Biometrics Market in the near future?
- What is the regulatory framework governing the application of Contactless Biometrics Market in the food industry?
- Which manufacturing processes are utilized for the production of Contactless Biometrics Market ?
Table of Contents:
- Chapter 1 includes an introduction of the global Contactless Biometrics Market , along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
- Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
- Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
- In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
- Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application.
About Emergen Research
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