openPR Logo
Press release

Contactless Biometrics Technology Market Surges to $34.27B by 2028, Driven by Security Demands

04-15-2024 06:35 PM CET | IT, New Media & Software

Press release from: The Business Research Company

Contactless Biometrics Technology Market Report

Contactless Biometrics Technology Market Report

The contactless biometrics technology market size has grown rapidly in recent years. It will grow from $14.29 billion in 2023 to $17.09 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to rise of mobile devices, retail and hospitality demands, workforce management, financial sector adoption.

The contactless biometrics technology market size is expected to see rapid growth in the next few years. It will grow to $34.27 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to increasing demand for security, rising need for fraud prevention, demand for frictionless transactions, geopolitical factors and national security concerns. Major trends in the forecast period include increased integration with IoT devices, expansion in healthcare applications, advancements in facial recognition accuracy, integration with wearable devices.

Market Overview -
Contactless biometrics technology refers to using biometric identification methods that do not require physical contact between the sensing device and the individual being identified. This technology is utilized for various applications across different industries due to its convenience, efficiency, and improved hygiene compared to traditional contact-based biometric systems.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14305&type=smp

Escalating Security Concerns Driving Growth In Contactless Biometrics Technology Market
The increased escalating security worries are expected to propel the growth of the contactless biometrics technology market going forward. Security worries refer to concerns or anxieties about protecting assets, information, systems, or individuals from various threats, vulnerabilities, and risks. These worries can arise in different contexts, including personal, organizational, or societal levels, encompassing a wide range of potential security issues. Contactless biometrics technology addresses security worries by providing secure and convenient authentication methods that significantly reduce fraud and enhance security across various industries. For instance, according to a report published by Experian Plc., an Ireland-based data analytics and consumer credit reporting company, there was a 19% increase in fraud reports in 2022, reaching more than 5.8 million. Further, financial losses from fraud increased 77% in 2021, reaching more than $6.1 billion, and consumer identity theft complaints grew 3.3%, reaching over 1.43 million in 2021 from about 1.39 million in 2020. Therefore, increased escalating security worries are driving the growth of the contactless biometrics technology market.

Competitive Landscape -
Major companies operating in the contactless biometrics technology market are 3M Cogent Inc., Fujitsu Limited, NEC Corporation, Thales Group, BIO-key International Inc., Assa Abloy AB, IDEMIA SAS, Synaptics Incorporated, HID Global Corporation, Zwipe AS, Fingerprint Cards AB, Precise Biometrics AB, Crossmatch Technologies Inc., Aware Inc., Innovatrics s.r.o., nVIAsoft Corporation, Touchless Biometric Systems AG, Gemalto N.V., FaceFirst Inc., CrossCore Biometrics LLC, M2SYS Technology Inc., Cognitec Systems GmbH, Egis Technology Inc., Suprema Inc., Veridium Corporation

Innovative Advancements In Contactless Biometrics The MOQI A1 Pro Scanner
Major companies operating in the contactless biometrics technology market focus on developing innovative solutions, such as MOQI A1 Pro contactless biometric scanners, to meet the growing demand for contactless biometrics technology. These scanners refer to biometric identification or verification methods that do not require physical contact with a device. These technologies use various methods, such as facial recognition, iris recognition, and contactless fingerprinting, to identify individuals based on unique physical characteristics. For instance, in June 2022, Moqi, a China-based technology company, launched MOQI A1 Pro. This contactless Livescan solution is designed to capture high-definition fingerprints quickly and accurately, even with dry, wet, or rough fingers. The scanner can generate rolled and flat fingerprints with just one contactless scan, offering a larger capture area and higher image quality than traditional contact-based scanners. The key to the process is its structured lighting system, which ensures precise and hygienic fingerprint scanning. Additionally, it features a sleek, black matte form factor and offers IP64-rated water and dust resistance, with the capability of operating in temperatures ranging from 0 to 50°C. The scanner also includes built-in stereo speakers and status LEDs to guide users through scanning.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/contactless-biometrics-technology-global-market-report

Key Segments -
The contactless biometrics technology market covered in this report is segmented -
1) By Type: Face Recognition, Iris Recognition, Voice Recognition, Fingerprint Recognition, Other Types
2) By Component: Hardware, Software, Services
3) By End Use Industry: Healthcare, Defense and Security, Banking Financial Services And Insurance (BFSI), Government, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Contactless Biometrics Technology Market Surges to $34.27B by 2028, Driven by Security Demands here

News-ID: 3464574 • Views:

More Releases from The Business Research Company

Image Processing Systems Market to Reach $37.11 Billion by 2028 at 24.7% CAGR within Forecast Period 2024-2033
Image Processing Systems Market to Reach $37.11 Billion by 2028 at 24.7% CAGR wi …
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033. Image Processing Systems Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance. The Market Size Is Expected To Reach $37.11 Bn In 2028
Metadata Management Tools Market Set to Reach $24.12 Billion by 2028 at 21.8% CAG
Metadata Management Tools Market Set to Reach $24.12 Billion by 2028 at 21.8% CA …
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033. Metadata Management Tools Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance. The Market Size Is Expected To Reach $24.12 Bn In 2028
Flight Data Monitoring Market to Reach $8.65 Billion by 2028, Growing at 9.5% CAGR
Flight Data Monitoring Market to Reach $8.65 Billion by 2028, Growing at 9.5% CA …
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033. Flight Data Monitoring Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance. The Market Size Is Expected To Reach $8.65 Bn In 2028
Engineering Software Market Expected to See Strong Growth, Reaching $102.55 Billion by 2028
Engineering Software Market Expected to See Strong Growth, Reaching $102.55 Bill …
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033. Engineering Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance. The Market Size Is Expected To Reach $102.55 Bn In 2028 At

All 5 Releases


More Releases for Biometric

Biometric ATM Market Growing Penetration and Adoption of Voice Biometric Solutio …
The global biometric ATM market size is expected to be valued at US$ 1,960.5 million in 2022 and grow at a CAGR of 30.3% over the forecast period. Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with
Mantra's fingerprint scanners now support biometric log-in with Windows Biometri …
Mantra Softech, one of the leading Biometrics and RFID solutions companies, has recently announced that its three fingerprint scanners i.e. MFS500, Mapro CX, and Mapro OX, drivers now support Windows Biometric Framework and work with "Hello" for login in windows 8.1 and 10 with fingerprint authentication. The WBF has a set of services and interfaces to support the development and management of biometric devices. This framework provides compatibility with biometric services
Healthcare Biometric Market, Worldwide, 2030
The “Healthcare Biometric Market Analysis to 2030” is a specialized and in-depth study of the Healthcare Biometric industry with a focus on the Healthcare Biometric market trend. The report aims to provide an overview of the Healthcare Biometric market with detailed market segmentation by component, application, end-user, and geography. The Healthcare Biometric market is expected to witness high growth during the forecast period. The report includes key statistics on the
Ahmedabad-based leading Biometric firm Mantra Softech launches the portable biom …
With the increasing security concerns and rise in the deployment of biometric fingerprint, facial and iris recognition devices, several verticals are making a smart move by adopting biometric technology. The world witnessed a huge growth in Indian biometric market, especially after incorporation of various government-led initiatives like UID-Aadhaar, issuance of ePassports, visas, etc. Indian biometric market upsurged tremendously in 2018, reaching the value of $1.7 billion and is further expected
Biometric ATM Market 2018 - The demand of Biometric ATM will drastically increas …
Biometric ATM Market Survey 2018 The Biometric ATM Market report is a complete research study on the Biometric ATM market, which attempts to present a clear picture of the key factors that shape this market. The assessments of a number of market segments, distinguished on the basis of the products, their applications, and the geographies, come under the scope of this research study. It further provides the profile reviews of the leading market
Global Biometric Sensors Market: Innovative Features of Biometric Sensors Notice …
SAN FRANCISCO, Nov. 28, 2017 According to the latest report published by Variant Market Research, the global biometric sensors market is projected to reach $1,820 million by 2024, from $868 million in 2016; at a CAGR of 9.7% from 2016 to 2024. Click Here to Request a Free Sample PDF of This Report @ https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/biometric-sensors-market/sample-request Rising adoption for fingerprint identification in electronic devices to drive the global biometric sensors market The global