Report ID – TGRI5307

Report Segment | Technology > Electonics

Contactless Biometrics Market Overview:

The market for Contactless Biometrics was valued at XX Mn USD in the year 2023 and expected to reach XX Mn by the year 2030. The CAGR for the market is XX% during the period 2019 -2030.

When a user and a biometric sensor are not in direct physical contact, the biometric authentication method is referred to as contactless biometrics. It employs unique biological characteristics such as facial recognition, iris scans, voice recognition, and fingerprint recognition without the need for direct physical contact with the sensor device. This technology offers safe and practical ways for identification or authentication in a number of industries, including smart devices, payment methods, healthcare, and security access control. 

Contactless Biometrics Market Growth Indicators:

• Health and Hygiene Issues
• Improved Security Measures
• Increasing adoption in IOT segment
• Mobile Biometrics demand

Health and Hygiene Issues:

The growth of contactless barometers significantly impacts health and hygiene by reducing the need for physical contact with devices, thereby minimising the risk of transmitting infectious agents. This is particularly beneficial in high-traffic areas like hospitals, airports, and public transportation. These devices enhance cleanliness and are easier to maintain, promoting a more hygienic environment. Technological advancements have improved their accuracy and reliability, increasing their appeal and integration with smart systems for real-time data monitoring. The convenience and improved user compliance with health monitoring further underscore their importance in maintaining public health and safety.

Contactless Biometrics Market Report Segments Overview:

Component Type Segment Overview:

Hardware, which includes biometric readers and sensors, holds a major share of the market due to technological advancements and increased industry adoption. Software is expanding at the fastest rate since it is essential for processing biometric data and improving algorithms. Its remarkable growth trajectory is a result of continuous advancements in machine learning, artificial intelligence, and advanced analytics designed for various biometric applications. 

Application Type Segment Overview:

Increased security concerns in key industries like banking, government, and healthcare are driving its explosive growth. Applications for Know Your Customer (KYC) and onboarding that facilitate easy and safe identity verification and customer authentication in fintech, banking, and e-commerce are growing significantly. The market share of the forensic and criminal identification segment is growing at fastest rate, as it is crucial for law enforcement and justice systems. Its expansion is attributed to ongoing developments in criminal identification methods and biometric forensics.

End User Segment Overview:

These systems are the industry leaders in banking and finance, controlling a major share of the market as banks heavily incorporate biometrics for customer authentication and safe transactions. The fintech industries’ expansion is driven by the expansion of digital banking and the proliferation of this sector. Defence and security segment is growing at the fastest rate. Contactless biometrics are widely used in defence and security, especially in defence and surveillance systems. Their rapid expansion can be attributed to rising defence budgets and an ongoing demand for stronger security measures.

Contactless Biometrics Market Regional Outlook:

Largest Market Share: North America:

The United States dominates in contactless biometric adoption and advancement in this region, having widely incorporated biometric technology into a range of sectors, including government, banking, and healthcare. Proliferating security concerns and an extensive infrastructure have led to widespread implementation in the US market. Canada is experiencing growth at the fastest rate, especially in the fintech and retail industries. This growth is being attributed to the use of contactless biometrics for enhanced transaction security and customer authentication.

Europe:

The United Kingdom holds a major share of the market due to its sophisticated technological infrastructure, which facilitates the integration of biometric systems in the transportation, healthcare, and finance sectors. Germany is growing steadily, but France is growing at the fastest rate. As these developed markets keep growing, Eastern European nations are embracing digitalization programs quickly, which is causing a significant increase in the use of contactless biometrics in a variety of industries.

South America:

Brazil is a major market where biometric authentication is heavily emphasised for safe transactions in the banking, government, and healthcare sectors. Mexico is a rapidly growing country for this market with incorporation of biometric systems, especially in contactless payment solutions. Mexico is showing significant development in both retail and finance.

Middle East & Africa:

The UAE dominates in the Middle East and Africa for its extensive use in the banking, government, and aviation sectors, demonstrating an integrated approach to biometric systems in numerous aspects of daily life. Saudi Arabia is expanding at the fastest rate because of their growth in finance and healthcare is implementing biometric solutions for secure access and improved services. Both nations are making major contributions to the expanding contactless biometrics market in the region.