Contactless Biometrics Market Size, Opportunities, Key Growth Factors, Revenue Analysis, For 2020–2027

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The global contactless biometrics market is expected to reach a market size of USD 28.83 Billion in 2027 and register a robust CAGR over the forecast period due, according to the latest report by Reports and Data.

The global contactless biometrics market is expected to reach a market size of USD 28.83 Billion in 2027 and register a robust CAGR over the forecast period due, according to the latest report by Reports and Data. Some key factors driving revenue growth of the global contactless biometrics market include rapid technological advancements and increasing adoption of contactless biometrics in the global healthcare sector.

Growth in digital banking globally is also propelling deployment of voice and facial recognition systems in the banking and financial industry. Contactless biometrics enable a convenient, user-friendly approach of verifying customers to deliver superior and consistent experience and to secure their online platforms. Increase in demand for smartphones and tablets with facial recognition software for additional security of devices is also contributing to growth of the market.

Another key factor driving demand for contactless biometric systems is growing adoption of cloud-based services such as machine learning (ML) and Artificial Intelligence (AI) to strengthen the compatibility of smart devices for varying applications. However, high cost of contactless biometrics solutions is a key factor expected to limit adoption and deployment, especially in emerging economies.

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Some of the players profiled in the report are Fujitsu Limited, NEC Corporation, Fingerprint Cards AB, Aware Inc., nViaSoft, HID Global, Gemalto N.V., M2SYS Technology, IDEMIA, and Touchless Biometric Systems AG.

The Global Contactless Biometrics Market is segmented as follows:

Technology Outlook (Revenue, USD Billion; 2017–2027)

  • Software
  • Hardware
  • Services
    • Professional Services
    • Managed Services

Application Outlook (Revenue, USD Billion; 2017–2027)

  • Hand Geometry
  • Face
  • Iris
  • Voice
  • Fingerprint
  • Others

End-Use Outlook (Revenue, USD Billion; 2017–2027)

  • Banking and Finance
  • Healthcare
  • Government
  • Consumer Electronics
  • Defense and Security
  • Transport and Logistics
  • Others

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Market Segmentation by Regions:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Answered by the Report:

  • Which market segment or sub-segment is expected to grow at the highest CAGR during the forecast timeline?
  • What is the forecast valuation of the Contactless Biometrics market?
  • Who are the leading players in the industry? What are the weaknesses and strengths of these players?
  • What are the strategic business steps and initiatives taken by the key competitors in the industry?
  • What region is expected to dominate the market in the forecast period?

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