According to a research report "Contactless Biometrics Market with COVID-19 Impact Analysis by O ffering (Multimodal Biometrics Solution, Hardware, Software, Services), Software (Face Recognition, Iris Recognition), Application, Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the Contactless Biometrics Market size is projected to grow from USD 19.7 billion in 2022 to USD 39.8 billion by 2027, at a Compound Annual Growth Rate (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.
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=222379960
Browse 370 market data Tables and 42 Figures spread through 277 Pages and in-depth TOC on "Contactless Biometrics Market with COVID-19 Impact Analysis by Offering (Multimodal Biometrics Solution, Hardware, Software, Services), Software (Face Recognition, Iris Recognition), Application, Vertical and Region - Global Forecast to 2027"
By offering, the services segment to register the highest growth rate during the forecast period
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. Managed services are expected to grow at a higher rate as it offers organizations to reduce effort, time, money, and risks. Its demand is driven by increasing users and data-security initiatives by the government. Moreover, the growing usage of mobile devices and rising demand for robust fraud detection and prevention systems is also helping the market.
Based on application area, the criminal identification and forensics segment to grow at the highest CAGR during the forecast period
The contactless biometric solutions are very useful during criminal investigation. 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 earlier charged for heinous crimes. Also, the software enables the detection of false information of the individuals in custody through facial recognition abilities.
North America to hold the largest market share during the forecast period.
The 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. Touchless biometric products and workforce management platforms are in demand in North America due to the COVID-19 pandemic. The return to work is also scattered with various health concerns. A need for preventive measures has been created in the workplaces, shopping malls, airports, and other public places. Contactless biometric vendors in North America are helping companies, organizations and government entities implement safer work environment solutions.
Get More Info :- https://www.prnewswire.com/news-releases/contactless-biometrics-market-worth-39-8-billion-by-2027--exclusive-report-by-marketsandmarkets-301542396.html
Market Players
Key and innovative vendors in Contactless biometrics market include Aware (US), Fingerprint Cards AB (Sweden), Fujitsu (Japan), HID Global (US), IDEMIA (France), M2SYS Technology (China), NEC Corporation (Japan), nVIAsoft (US), Touchless Biometric Systems (Switzerland), Thales (France), Veridium (UK), BioConnect (Canada), Innovatrics (Slovakia), Cognitec Systems (Germany), DERMALOG Identification Systems (Germany), SecuGen (US), Neurotechnology (Lithuania), Shufti Pro (UK), Fidentity (Switzerland), Daon (US), NVISO (Switzerland), Noldus (The Netherlands), Blue Biometrics (Australia), True Face (US), Veridos (Germany), and ID R&D (US).
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]