Contactless Biometrics Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Contactless Biometrics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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The contactless biometrics market has experienced significant growth in recent years, with its value expected to increase from $19.58 billion in 2023 to $22.85 billion in 2024, reflecting a compound annual growth rate (CAGR) of 16.7%. This growth during the historical period can be linked to heightened concerns about hygiene and infection control, a rising demand for secure and convenient identity verification, the growing adoption of contactless technologies across various industries, improved user experience and convenience in biometric authentication, and an increasing need for fast and secure access controls.
What Is The Estimated Market Size Of The Global Contactless Biometrics Market And Its Annual Growth Rate?
The contactless biometrics market is projected to experience rapid growth in the coming years, reaching $42.81 billion by 2028, with a compound annual growth rate (CAGR) of 17.0%. This growth during the forecast period can be attributed to the expansion of contactless biometrics in healthcare for patient identification, the implementation of these technologies in smart city initiatives, increasing demand for contactless biometrics in financial transactions, integration within access control systems, and the growing regulatory requirements for data protection and privacy.
Explore Comprehensive Insights Into The Global Contactless Biometrics Market With A Detailed Sample Report:
Growth Driver Of The Contactless Biometrics Market
The growing popularity of contactless payment systems is fueling the expansion of the contactless biometric market. Contactless payment involves a wireless financial transaction where a customer authorizes payment for a purchase by bringing a security token close to the merchant’s point of sale (PoS) scanner.
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Which Market Players Are Steering The Contactless Biometrics Market Growth?
Key players in the market include Touchless Biometric Systems AG, IDEMIA SAS, nVIAsoft Corporation, Fujitsu Limited, NEC Corporation, Fingerprint Cards AB, Megvii, Suprema Inc., Thales Group, Crossmatch Solutions Inc., Synaptics Incorporated, Aware Inc., HID Global Corporation, BIO-key International Inc., FaceTec Inc., IDEX Biometrics ASA, Precise Biometrics AB, M2SYS Technology, Innovatrics s. r. o., Egis Technology Inc., Shenzhen Goodix Technology Co. Ltd., ZKTeco Inc., NEXT Biometrics Group ASA, Veridium Ltd., Neurotechnology UAB, Zebra Medical Vision Ltd., Cognitec Systems GmbH, Zwipe AS, 3M Cogent Inc., Daon Holdings Limited.
What Are The Key Trends That Influence Contactless Biometrics Market Size?
Leading companies in the contactless biometrics market are adopting a strategic partnership approach to enhance their global presence. Strategic partnerships involve companies leveraging each other’s strengths and resources to achieve mutual benefits and success.
How Is The Global Contactless Biometrics Market Segmented?
1) By Component: Hardware, Software, Services
2) By Technology: Contactless Fingerprint Technology, Facial Recognition, Iris Recognition, Palm Vein Recognition, Voice Recognition, Contactless Cards
3) By Application: Face, Fingerprint, Hand Geometry, Iris, Voice, Other Applications
4) By End User: Government, BFSI, Consumer electronics, Healthcare, Transport And logistics, Defense And Security, Other End Users
Geographical Insights: North America Leading The Contactless Biometrics Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Contactless Biometrics Market Definition
Contactless biometrics refers to a technology used for identification and authentication, enabling the identification of individuals under surveillance. This method allows for user authorization without the need for physical contact with any machine sensors. Additionally, behavioral security technologies and multi-factor authentication that utilize non-contact biometrics offer enhanced security compared to traditional methods.
Contactless Biometrics Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global contactless biometrics market report covering trends, opportunities, strategies, and more
The Contactless Biometrics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on contactless biometrics market size, contactless biometrics market drivers and trends and contactless biometrics market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Contactless Biometrics Market Growth Analysis with Investment Opportunities For 2024-2033
