The report sheds light on the minute details of the Contactless Biometrics Market industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2032 . Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer.
The global contactless biometrics market size was USD 17.26 Billion in 2021 and is expected to register a revenue CAGR of 15.55% during the forecast period, according to the latest analysis by Emergen Research. Increasing funding for facial recognition systems is a major factor expected to support revenue growth of the market during the forecast period. In addition, revenue growth of the market is driven by rising demand from the banking, retail, and healthcare sectors as well as increase in smartphone use. Most consumers today depend on face and iris recognition technology to protect their possessions. Companies are implementing improved security features such as pulse biometric applications and others with highly developed Artificial Intelligence (AI)-based technologies to take advantage of this, which is contributing to revenue growth of the market.
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Covid 19 impact analysis:
The report considers COVID-19 as a key contributor of the dynamically altered market scenario. The report covers a comprehensive impact analysis of the global health crisis on the overall growth of the market. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
Competition in the Contactless Biometrics Market
Major Companies and Competitive Landscape
The global Contactless Biometrics Market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions and strategic agreements & contracts. Some major players included in the global Contactless Biometrics Market report are:
Fingerprint Cards AB, Aware, Inc., Fujitsu Limited, IDEMIA, HID Global Corporation, Touchless Biometric Systems AG, nVIASoft Corporation, NEC Corporation, M2SYS Technology, Blue Biometrics, ASSA ABLOY, MeReal Biometrics Limited, Untethered Labs, Inc., and T3K-Forensics GmbH.
Objectives of the Report:
Industrial structure analysis of the Contactless Biometrics Market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Contactless Biometrics Market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Radiofrequency-Based Devices market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
Study of the global Contactless Biometrics Market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2023-2032)
Competitive Terrain:
The Global Contactless Biometrics Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report.
Emergen Research has segmented the global contactless biometrics market on the basis of offering, application, end-use, and region:
· Offering Outlook (Revenue, USD Billion; 2019–2030)
- Multimodal Biometrics Solution
- Software
- Integrated Biometrics Software
- Standalone Software
- Vein Recognition
- Facial Recognition
- Iris Recognition
- Others
- Hardware
- Contactless Fingerprint Scanners
- Palm Vein Scanners
- Voice Recognition Devices
- Contactless Smart Cards & Readers
- Others
- Services
- Managed Services
- Professional Services
Regional Analysis:
The report sheds light on the region expected to dominate the Contactless Biometrics Market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Contactless Biometrics Market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Why should you buy this report?
- The study paper dissects the total market potential of major regions with strengths, opportunity and challenge, constraints, and dangers.
- By identifying the high-improvement locations, the study inspects the open entryways, keeping an eye out for accomplices.
- It examines each submarket in terms of a single improvement design and its contribution to the market.
- It examines the recent developments, such as advancements, business strategies, new product releases, and acquisitions.
- It purposefully profiles the major market players and thoroughly investigates their advancement strategies. ]
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