Contactless Biometric Sensor Market by Component (Hardware, software and service), Application (face, fingerprint, hand grometry, iris, voice) and end-users (Government, Banking & Finance, Consumer Electronics, Healthcare Transport and Logistics, Defense & Security)
Contactless Biometric Sensor Market size was estimated at $8,324.8 Million in 2019 and is expected to reach $30,355.1 Million by 2027, growing at a CAGR of 20.3% during the forecast period of 2020 to 2027.
With the onset of digitization automation of data collection and storage, contactless biometric authentication has led to widespread acceptance of the use of the product worldwide. The rising requirement for high security, hygiene and easy validation system in high-end public places such as corporate headquarters is a key driver of the gowth of market demand of contactless biometric sensor market. Growing demand from the retail sector, banking sector, insurance industry, financial industry, border control usage and support from government regulation is further expected to push the market growth. The market value of the contactless biometric sensor devices is estimated to reach the USD 6.92billion US dollars by 2027.
In the financial sector, debit game-changer allowing card-issuing banks a totally secure contactless card product that can only be used by the real cardholder. This reduces the risk for card issuers who have lesser transaction limit on cards to be defrauded by scammers. Also, the feature of self-power and time reduction as storage of fingerprint in the card and by simply touching a sensor on the cards surface in a nano minute is scanned, validated and allowed to function.
New invention such as facial recognition is going to fuel the demand for contactless biometric sensor market. Electronically generated payments via smartphones and laptops plus the installed apps on these gadgets need high security paving way for the product market growth. The technology allows longer runtime, use of lesser consumables and minimal maintenance, which cuts down day to day costs. Another source of great demand comes from the increasing number of air travellers which calls for advanced identification, mapping and data access at airports.
On the other hand, grave threat to security identity, privacy all put together may amount to threat to national security with the growing use of biometric devices. Changes in texture, shape to biometrics due to age and medical issues increases error rates in mapping. Additionally, the lighting of face, expression, perspiration and numerous conditions may restrict the growth of the market to some extent.
Contactless Biometric Sensor Market Segmentation Analysis
The market has been segmented by component, application and end users
Component (Hardware, software and service), Application (face, fingerprint, hand grometry, iris, voice) and end users (Government, Banking & Finance, Consumer Electronics, Healthcare Transport and Logistics, Defense & Security).
Services are sub segmented into professional and managed services.
Contactless Biometric Sensor Market Regional Analysis
The global contactless biometrics sensor market is estimated to reach $70 billion by the year 2030. The increasing awareness of the benefits of using contactless biometrics sensors in terms of hygiene and accuracy is the major driver of this growth. The COVID-19 pandemic wave is also expected to benefit the market. North America dominates the market for touchless biometrics while Asia-Pacific is expected to dominate the fingerprint sensor market. Europe, South America and MEA are expected to grow in the forecast years. Prominent players in this sector include Touchless Biometric Systems AG, IDEMIA, Fujitsu Ltd, Gemalto N.V., nViaSoft, Aware Inc. and Fingerprint Cards AB.
Contactless Biometric Sensor Market Competition
Key companies operating in this industry are Touchless Biometric Systems AG, Fingerprint Cards AB, Fujitsu Limited; IDEMIA; and NEC Corporation.Gemalto N.V., Aware Inc., HID Global, M2SYS Technology
Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Component Analysis (Revenue, USD Million, 2016 - 2027)
a) Professional Services
b) Managed Services
Application Outlook (Revenue, USD Million, 2016 - 2027)
• Hand Geometry
End users Analysis (Revenue, USD Million, 2016 - 2027)
• Banking & Finance
• Consumer Electronics
• Transport & Logistics
• Defense & Security
Country Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Contactless Biometric Sensor Market Companies
• Touchless Biometric Systems AG
• Fingerprint Cards AB
• Fujitsu Limited
• NEC Corporation.
• Gemalto N.V.
• Aware Inc.
• HID Global
• M2SYS Technology
United States Contactless Biometric Sensor Industry Research Report
Europe Contactless Biometric Sensor Industry Research Report
Asia Pacific Contactless Biometric Sensor Industry Research Report
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