Contactless biometrics market to reach by $30.8 billion by 2027
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.
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. 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.
