Global Contactless Biometrics Technology Market Growth to be Propelled by a CAGR of ~22% throughout 2022 – 2031
Global Contactless Biometrics Technology Market Highlights Over 2022 - 2031
Research Nester published a report titled “Contactless Biometrics Technology Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global contactless biometrics technology market in terms of market segmentation by component, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global contactless biometrics technology market is estimated to occupy a sizeable revenue by growing at a CAGR of ~22% during the forecast period, i.e., 2022 – 2031, ascribing to the rising demand for high level of security in public, private and commercial sectors, and surging adoption of biometrics in the healthcare industry. Along with these, increasing usage of automatic identification and data capture (AIDC) technology in e-commerce and retail industry is also expected to drive the growth of the market in the forthcoming years.
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The market is segmented by component, application, and end user. Based on component, the software segment is anticipated to acquire the largest share during the forecast period in view of the largescale adoption of cloud-based services for contactless biometrics solutions. Additionally, by end user, the government segment is projected to grab the largest share over the forecast period attributing to the rise in deployment of this technology to minimize and control criminal activities.
Geographically, the global contactless biometrics technology market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to witness noteworthy growth and grab the largest share in the market during the forecast period attributing to the escalating government spending to implement contactless biometric solutions in the region. Moreover, the market in Asia Pacific is also assessed to acquire a significant share over the forecast period on the back of the growing number of terrorist attacks in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for High Level Security in Public, Private and Commercial Sectors to Drive Market Growth
With the growing concerns associated with security in public, private and commercial sectors, the utilization of technologies, such as automatic identification and data capture (AIDC), has observed a significant surge. This can be credited to the benefits of contactless biometrics, including high speed, efficacy and convenience, which in turn is anticipated to boost the market growth in the near future.
However, expensiveness of these solutions is expected to operate as key restraint to the growth of the global contactless biometrics technology market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global contactless biometrics technology market which includes company profiling of Fingerprint Cards AB, NEC Corporation, Gemalto N.V., Aware Inc., Touchless Biometric Systems AG, Fujitsu Limited, IDEMIA, NVIAsoft Corporation, HID Global, M2SYS Technology, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global contactless biometrics technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.