Contactless Biometric Market 2020 : Competitive Strategies and Forecast Report with Top Players Till 2027

Global Contactless Biometric Market was valued at USD 6.92 billion in 2019 which is expected to reach USD 22.87 billion by 2027 at a CAGR 19.8%.

Latest published report on the Contactless Biometric market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027. The report is based on an extensive study supervised by adept analysts. Their sound knowledge and expertise in the field help in unearthing of factors and figures. The report is fulfilled with a volume-wise and value-wise analysis.

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Contactless biometrics is defined as identification of different faces on large scale. This technology is used to enhance security through face recognition. Also, contactless biometrics collect data of an individual by using cloud based platform.

Market Drivers

Increase in adoption of cloud-based services like artificial intelligence and machine learning is expected to boost the global contactless biometric market growth. Furthermore, increase in penetration of Smartphones and tablets coupled with companied focusing on manufacturing of facial recognition software in smartphones by addition of verification layer to unlock the smartphones which is expected to propel the market growth. Moreover, rise in support from government legalization to encourage the usage of contactless authentication technology will fuel the market growth in near future. Also, high adoption of this technology in healthcare sector will grow the market significantly.

Market Restraints

However, high cost of contactless biometrics is the restraining factor which is expected to hinder the global contactless biometrics market growth.

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

By Application

Access Control
Payments & Transactions
Identity Verification

By Component

Hardware
Software
Services
Managed

By Industry Vertical

Retail
Military & Defense
Healthcare
Government & Law Enforcement
BFSI
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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