Global Contactless Biometric Market Size, Trends & Growth Opportunity, By Technology (Contactless Cards, Voice Recognition, Palm Vein Recognition, Iris Recognition, Facial Recognition, Contactless Fingerprint Technology), By Application (Access Control, Payments & Transactions, Identity Verification), By Component (Hardware, Software, Services, Managed ), By Industry Vertical (Retail, Military & Défense, Healthcare, Government & Law Enforcement, BFSI, Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Market Overview
Global Contactless Biometric Market was valued at USD 7.92 billion in 2021 which is expected to reach USD 23.87 billion by 2027 at a CAGR 22.68% from 2022 -2027.
Contactless biometrics is the identification of various faces on a large scale. Face recognition technology is used to improve security. Furthermore, contactless biometrics collect data from individuals via a cloud-based platform.
Market Drivers
The increased adoption of cloud-based services such as artificial intelligence and machine learning is expected to drive the growth of the global contactless biometric market. Furthermore, the increased penetration of Smartphones and tablets, combined with the company's focus on manufacturing facial recognition software in smartphones through the addition of a verification layer to unlock the smartphones, is expected to drive market growth.
Furthermore, increased government legalization to encourage the use of contactless authentication technology will drive market growth soon. Furthermore, widespread adoption of this technology in the healthcare sector will significantly expand the market.
Market Restraints
However, the high cost of contactless biometrics is expected to limit the global contactless biometrics market growth.
Market Segmentation
The Global Contactless Biometric Market is segmented into technology such as Contactless Cards, Voice Recognition, Palm Vein Recognition, Iris Recognition, Facial Recognition, and Contactless Fingerprint Technology, by application such as Access Control, Payments & Transactions, and Identity Verification, by component such as Hardware, Software, Services, and Managed. Further, market is segmented into industry vertical, such as Retail, Military & Défense, Healthcare, Government & Law Enforcement, BFSI, and Others.
Regional Analysis
The Global Contactless Biometric Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominated the Contactless Biometric market. This dominance can be attributed to the presence of technology providers in the region, including nVIAsoft Corporation, HID Global, M2SYS Technology, and BioConnect. Increasing demand for contactless biometrics solutions by payment solution providers in the region to provide secure transactions to their customers is expected to drive regional growth.
For example, SnapPay, Inc., a payment solutions provider, announced the availability of facial recognition-based payment technology for merchants in North America in October 2019.
Market Key Players
Various key players are discussed in this report such as Biorugged, Vision-Box, Aware, Cognitec, Authen Trend, IRIS ID, JENETRIC, Regula, Telpo, and IrisGuard.
Market Taxonomy
By Technology
- Contactless Cards
- Voice Recognition
- Palm Vein Recognition
- Iris Recognition
- Facial Recognition
- Contactless Fingerprint Technology
- Access Control
- Payments & Transactions
- Identity Verification
- Hardware
- Software
- Services
- Managed
- Retail
- Military & Défense
- Healthcare
- Government & Law Enforcement
- BFSI
- Others
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Contactless Biometric Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Contactless Biometric Market, By Technology
- 5.1 Y-o-Y Growth Comparison, By Technology
- 5.2 Global Contactless Biometric Market Share Analysis, by Technology
- 5.3 Global Contactless Biometric Market Size and Forecast, by Technology
- 5.3.1 Contactless Cards
- 5.3.2 Voice recognition
- 5.3.3 Palm Vein Recognition
- 5.3.4 Iris Recognition
- 5.3.5 Facial Recognition
- 5.3.6 Contactless Fingerprint Technology
- 6 Global Contactless Biometric Market, By Application
- 6.1 Y-o-Y Growth Comparison, By Application
- 6.2 Global Contactless Biometric Market Share Analysis, By Application
- 6.3 Global Contactless Biometric Market Size and Forecast, By Application
- 6.3.1 Access Control
- 6.3.2 Payment & Transactions
- 6.3.3 Identify Verification
- 7 Global Contactless Biometric Market, By Component
- 7.1 Y-o-Y Growth Comparison, By Component
- 7.2 Global Contactless Biometric Market Share Analysis, By Component
- 7.3 Global Contactless Biometric Market Size and Forecast, By Component
- 7.3.1 Hardware
- 7.3.2 Software
- 7.3.3 Services
- 7.3.4 Managed
- 8 Global Contactless Biometric Market, By Industry Vertical
- 8.1 Y-o-Y Growth Comparison, By Industry Vertical
- 8.2 Global Contactless Biometric Market Share Analysis, By Industry Vertical
- 8.3 Global Contactless Biometric Market Size and Forecast, By Industry Vertical
- 8.3.1 Retail
- 8.3.2 Military & Defence
- 8.3.3 Healthcare
- 8.3.4 Government & Law Enforcement
- 8.3.5 BFSI
- 8.3.6 Others
- 9 Global Contactless Biometric Market, By Region
- 9.1 Global Contactless Biometric Market Share Analysis, By Region
- 9.2 Global Contactless Biometric Market Share Analysis, By Region
- 9.3 Global Contactless Biometric Market Size and Forecast, By Region
- 10 North America Contactless Biometric Analysis and Forecast (2022 – 2027)
- 10.1 Introduction
- 10.2 North America Contactless Biometric Market Share Analysis, By Technology
- 10.3 North America Contactless Biometric Market Size and Forecast, By Application
- 10.4 North America Contactless Biometric Market Size and Forecast, By Component
- 10.5 North America Contactless Biometric Market Size and Forecast, By Industry Vertical
- 10.6 North America Contactless Biometric Market Size and Forecast, By Country
- 10.6.1 U.S.
- 10.6.2 Canada
- 10.6.3 Mexico
- 11 Europe Contactless Biometric Market Analysis and Forecast (2022 – 2027)
- 11.1 Introduction
- 11.2 Europe Contactless Biometric Market Share Analysis, By Technology
- 11.3 Europe Contactless Biometric Market Size and Forecast, By Application
- 11.4 Europe Contactless Biometric Market Size and Forecast, By Component
- 11.5 Europe Contactless Biometric Market Size and Forecast, By Industry Vertical
- 11.6 Europe Contactless Biometric Market Size and Forecast, By Country
- 11.6.1 Germany
- 11.6.2 France
- 11.6.3 UK
- 11.6.4 Rest of Europe
- 12 Asia Pacific Contactless Biometric Market Analysis and Forecast (2022 – 2027)
- 12.1 Introduction
- 12.2 Asia Pacific Contactless Biometric Market Share Analysis, By Technology
- 12.3 Asia Pacific Contactless Biometric Market Size and Forecast, By Application
- 12.4 Asia Pacific Contactless Biometric Market Size and Forecast, By Component
- 12.5 Asia Pacific Contactless Biometric Market Size and Forecast, By Industry Vertical
- 12.6 Asia Pacific Contactless Biometric Market Size and Forecast, By Country
- 12.6.1 China
- 12.6.2 Japan
- 12.6.3 India
- 12.6.4 Rest of Asia Pacific
- 13 Latin America Contactless Biometric Market Analysis and Forecast (2022 – 2027)
- 13.1 Introduction
- 13.2 Latin America Contactless Biometric Market Share Analysis, By Technology
- 13.3 Latin America Contactless Biometric Market Size and Forecast, By Application
- 13.4 Latin America Contactless Biometric Market Size and Forecast, By Component
- 13.5 Latin America Contactless Biometric Market Size and Forecast, By Industry Vertical
- 13.6 Latin America Contactless Biometric Market Size and Forecast, By Country
- 14 Middle East Contactless Biometric Market Analysis and Forecast (2022 – 2027)
- 14.1 Introduction
- 14.2 Middle East Contactless Biometric Market Share Analysis, By Technology
- 14.3 Middle East Contactless Biometric Market Size and Forecast, By Application
- 14.4 Middle East Contactless Biometric Market Size and Forecast, By Component
- 14.5 Middle East Contactless Biometric Market Size and Forecast, By Industry Vertical
- 14.6 Middle East Contactless Biometric Market Size and Forecast, By Country
- 15 Competitive Analysis
- 15.1 Competition Dashboard
- 15.2 Market share Analysis of Top Vendors
- 15.3 Key Development Strategies
- 16 Company Profiles
- 16.1 Biorugged
- 16.1.1 Overview
- 16.1.2 Offerings
- 16.1.3 Key Financials
- 16.1.4 Business Segment & Geographic Overview
- 16.1.5 Key Market Developments
- 16.1.6 Key Strategies
- 16.2 Vision-Box
- 16.2.1 Overview
- 16.2.2 Offerings
- 16.2.3 Key Financials
- 16.2.4 Business Segment & Geographic Overview
- 16.2.5 Key Market Developments
- 16.2.6 Key Strategies
- 16.3 Aware
- 16.3.1 Overview
- 16.3.2 Offerings
- 16.3.3 Key Financials
- 16.3.4 Business Segment & Geographic Overview
- 16.3.5 Key Market Developments
- 16.3.6 Key Strategies
- 16.4 Cognitec
- 16.4.1 Overview
- 16.4.2 Offerings
- 16.4.3 Key Financials
- 16.4.4 Business Segment & Geographic Overview
- 16.4.5 Key Market Developments
- 16.4.6 Key Strategies
- 16.5 Authen Trend
- 16.5.1 Overview
- 16.5.2 Offerings
- 16.5.3 Key Financials
- 16.5.4 Business Segment & Geographic Overview
- 16.5.5 Key Market Developments
- 16.5.6 Key Strategies
- 16.6 IRIS ID
- 16.6.1 Overview
- 16.6.2 Offerings
- 16.6.3 Key Financials
- 16.6.4 Business Segment & Geographic Overview
- 16.6.5 Key Market Developments
- 16.6.6 Key Strategies
- 16.7 Regula
- 16.7.1 Overview
- 16.7.2 Offerings
- 16.7.3 Key Financials
- 16.7.4 Business Segment & Geographic Overview
- 16.7.5 Key Market Developments
- 16.7.6 Key Strategies
- 16.8 Telpo
- 16.8.1 Overview
- 16.8.2 Offerings
- 16.8.3 Key Financials
- 16.8.4 Business Segment & Geographic Overview
- 16.8.5 Key Market Developments
- 16.8.6 Key Strategies
- 16.9 IrisGuard
- 16.9.1 Overview
- 16.9.2 Offerings
- 16.9.3 Key Financials
- 16.9.4 Business Segment & Geographic Overview
- 16.9.5 Key Market Developments
- 16.9.6 Key Strategies
- 16.10 JENETRIC
- 16.10.1 Overview
- 16.10.2 Offerings
- 16.10.3 Key Financials
- 16.10.4 Business Segment & Geographic Overview
- 16.10.5 Key Market Developments
- 16.10.6 Key Strategies
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook