Dublin, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The "Contactless Biometrics Market Share, Size, Trends, Industry Analysis Report, By Component, By Authentication Mode, By Technology, By Industry Vertical, By Region, Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global contactless biometrics market size is expected to reach USD 60.72 billion by 2030, according to a new study. This report gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for contactless authentication software is expected to increase during the forecast period. Identification-based software enables hardware components of authentication devices to be connected to computers and networks to which they are linked, making them interoperable and compatible with one another.
The software enables compatibility of a diverse range of application software on multiple operating systems, as well as an effective and functional connection. The growth of the industry is primarily driven by the increasing adoption of technologies across various industries and business sectors.
Moreover, the rise in demand for identification and authentication solutions, as well as surveillance solutions in several application areas, such as banking and telecommunications, fuels the demand for mobile biometrics. Furthermore, the increasing use of systems in the financial services, consumer electronics, and automotive industries is expected to stimulate the growth of the industry.
The major challenge that was faced during COVID-19 was the adoption of facial identification technology. The accuracy of facial recognition was a bit difficult due to the face masks and shields worn by people. This affected the accuracy of facial recognition systems in identifying individuals based on their facial traits that are only partially visible.
However, many key players in the industry were keen on developing specialized solutions to counter such obstacles. For instance, in April 2020, a U.S.-based software solutions company, LeewayHertz, developed a face mask detection software that was capable of assessing employees for their temperature and use of face masks in real-time. Such innovations drive the growth of the industry.
Contactless Biometrics Market Report Highlights
- Hardware segment is expected to hold a considerable revenue share in owing greater demand for PCs, smartphones and wearable devices
- By authentication mode, the contactless biometrics market is segmented into single factor authentication (SFA), and multi factor authentication (MFA). Among this, single factor authentication dominated the global market in 2021
- The adoption of contactless biometrics solutions is expected to increase in the BFSI segment during the forecast period to address concerns associated with financial fraud and identity theft
- North America region will lead the global market by 2030 owing to technological advancements, presence of prominent industry players, and increasing application across diverse industries
- The global market is highly competitive owing to the existence of large industry players with global presence including Aware Inc., BioConnect, Cognitec Systems, Daon Inc., DERMALOG Identification Systems
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Contactless Biometrics Market Insights
4.1. Contactless Biometrics - Industry Snapshot
4.2. Contactless Biometrics Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increased regulation due to the growing use of biometrics
4.2.1.2. Rising number of government initiatives to adopt contactless biometrics
4.2.2. Restraints and Challenges
4.2.2.1. High deployment cost
4.3. Porter's Five Forces Analysis
4.4. PESTLE Analysis
4.5. Contactless Biometrics Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Contactless Biometrics Market, by Component
5.1. Key Findings
5.2. Introduction
5.2.1. Global Contactless Biometrics Market, by Component, 2018 - 2030 (USD Billion)
5.3. Hardware
5.3.1. Global Contactless Biometrics Market, by Hardware, by Region, 2018 - 2030 (USD Billion)
5.4. Software
5.4.1. Global Contactless Biometrics Market, by Software, by Region, 2018 - 2030 (USD Billion)
5.5. Services
5.5.1. Global Contactless Biometrics Market, by Services, by Region, 2018 - 2030 (USD Billion)
6. Global Contactless Biometrics Market, by Authentication Mode
6.1. Key Findings
6.2. Introduction
6.2.1. Global Contactless Biometrics Market, by Authentication Mode, 2018 - 2030 (USD Billion)
6.3. Single Factor Authentication
6.3.1. Global Contactless Biometrics Market, by Single Factor Authentication, by Region, 2018 - 2030 (USD Billion)
6.4. Multi Factor Authentication
6.4.1. Global Contactless Biometrics Market, by Multi Factor Authentication, by Region, 2018 - 2030 (USD Billion)
7. Global Contactless Biometrics Market, by Technology
7.1. Key Findings
7.2. Introduction
7.2.1. Global Contactless Biometrics Market, by Technology, 2018 - 2030 (USD Billion)
7.3. Voice Recognition
7.3.1. Global Contactless Biometrics Market, by Voice Recognition, by Region, 2018 - 2030 (USD Billion)
7.4. Facial Recognition
7.4.1. Global Contactless Biometrics Market, by Facial Recognition, by Region, 2018 - 2030 (USD Billion)
7.5. Iris Recognition
7.5.1. Global Contactless Biometrics Market, by Iris Recognition, by Region, 2018 - 2030 (USD Billion)
7.6. Others
7.6.1. Global Other Contactless Biometrics Market, by Region, 2018 - 2030 (USD Billion)
8. Global Contactless Biometrics Market, by Industry Vertical
8.1. Key Findings
8.2. Introduction
8.2.1. Global Contactless Biometrics Market, by Industry Vertical, 2018 - 2030 (USD Billion)
8.3. BFSI
8.3.1. Global Contactless Biometrics Market, by BFSI, by Region, 2018 - 2030 (USD Billion)
8.4. IT & Telecom
8.4.1. Global Contactless Biometrics Market, by IT & Telecom, by Region, 2018 - 2030 (USD Billion)
8.5. Government
8.5.1. Global Contactless Biometrics Market, by Government, by Region, 2018 - 2030 (USD Billion)
8.6. Healthcare
8.6.1. Global Contactless Biometrics Market, by Healthcare, by Region, 2018 - 2030 (USD Billion)
8.7. Others
8.7.1. Global Other Contactless Biometrics Market, by Region, 2018 - 2030 (USD Billion)
9. Global Contactless Biometrics Market, by Geography
10. Competitive Landscape
10.1. Expansion and Acquisition Analysis
10.1.1. Expansion
10.1.2. Acquisitions
10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
11.1. Aware Inc
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Recent Development
11.2. BioConnect
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Product Benchmarking
11.2.4. Recent Development
11.3. Blue Biometrics
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Product Benchmarking
11.3.4. Recent Development
11.4. Cognitec Systems
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Product Benchmarking
11.4.4. Recent Development
11.5. Daon Inc
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Product Benchmarking
11.5.4. Recent Development
11.6. DERMALOG Identification Systems
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Product Benchmarking
11.6.4. Recent Development
11.7. Fingerprint Cards AB
11.7.1. Company Overview
11.7.2. Financial Performance
11.7.3. Product Benchmarking
11.7.4. Recent Development
11.8. Fujitsu Limited
11.8.1. Company Overview
11.8.2. Financial Performance
11.8.3. Product Benchmarking
11.8.4. Recent Development
11.9. HID Global
11.9.1. Company Overview
11.9.2. Financial Performance
11.9.3. Product Benchmarking
11.9.4. Recent Development
11.10. IDEMIA
11.10.1. Company Overview
11.10.2. Financial Performance
11.10.3. Product Benchmarking
11.10.4. Recent Development
11.11. M2SYS Technology
11.11.1. Company Overview
11.11.2. Financial Performance
11.11.3. Product Benchmarking
11.11.4. Recent Development
11.12. Neurotechnology
11.12.1. Company Overview
11.12.2. Financial Performance
11.12.3. Product Benchmarking
11.12.4. Recent Development
11.13. nVIAsoft
11.13.1. Company Overview
11.13.2. Financial Performance
11.13.3. Product Benchmarking
11.13.4. Recent Development
11.14. True Face
11.14.1. Company Overview
11.14.2. Financial Performance
11.14.3. Product Benchmarking
11.14.4. Recent Development
11.15. Veridos GmbH
11.15.1. Company Overview
11.15.2. Financial Performance
11.15.3. Product Benchmarking
11.15.4. Recent Development
For more information about this report visit https://www.researchandmarkets.com/r/id3bye
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