Escalating Security Concerns Driving Growth In Contactless Biometrics Technology Market: The Driving Engine Behind Contactless Biometrics Technology Market Evolution in 2025

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Contactless Biometrics Technology Market Size Growth Forecast: What to Expect by 2025?
The market size for contactless biometrics technology has significantly expanded in the past few years. The projections forecast an increase from $17.09 billion in 2024 to $20.34 billion in 2025, marking an impressive compound annual growth rate (CAGR) of 19.0%. The historical growth can be credited to factors such as the rise in the usage of mobile devices, demand in retail and hospitality sectors, workforce management, and the adoption by the financial sector.

How Will the Contactless Biometrics Technology Market Size Evolve and Grow by 2029?
The market for contactless biometrics technology is set for a dramatic expansion in the coming years, projected to reach a size of $40.88 billion by 2029, with an annual growth rate (CAGR) of 19.1%. This rise in the projected period is driven by factors such as heightened demand for safety measures, the growing urgency to prevent fraud, the need for seamless transactions, and geopolitical issues coupled with worries about national security. The forecasted period is likely to see crucial trends like greater integration of this technology with IoT gadgets, more use in healthcare applications, improvements in the precision of facial recognition, and collaboration with wearable gadgets.

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What Drivers Are Propelling the Growth of Contactless Biometrics Technology Market Forward?
The surge in concerns about security is anticipated to fuel the expansion of the contactless biometrics technology market in the future. These anxieties about security involve fear about safeguarding assets, information, systems, or individuals from a range of threats, vulnerabilities, and hazards. These anxieties can surface across various contexts, such as personal, organizational, or societal, covering a broad spectrum of potential security issues. Contactless biometrics technology responds to these concerns by offering secure and uncomplicated authentication procedures that significantly lower fraud and bolster security across numerous industries. For instance, according to a report on Ecommerce fraud trends and statistics 2024 distributed by Mastercard, a US-based global payment network, global ecommerce fraud losses attained $41 billion in 2022, and are expected to surpass $48 billion in 2023. The rapidly growing threat is promotional exploitation, with data suggesting that U.S. retailers lost over $89 billion annually as a result. Friendly Fraud is anticipated to contribute to 61% of all chargebacks, costing merchants over $100 billion this year. Account Takeover (ATO) escalated by 131% in late 2022, presenting a considerable risk to online retailers. Hence, increasing intensifying security concerns are promoting the expansion of the contactless biometrics technology market.

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Which Emerging Trends Are Transforming the Contactless Biometrics Technology Market in 2025?
Prominent players in the contactless biometrics technology market, such as MOQI A1 Pro, continue to innovate in order to cater to the increasing demand for their products. These devices deliver biometric identification without needing direct physical contact and they can identify an individual through their unique physical features like facial recognition, iris recognition, or contactless fingerprinting. For instance, MOQI A1 Pro was launched by the tech firm Moqi, based in China, in June 2022. This device is a contactless Livescan solution specifically designed to quickly and accurately gather high-definition fingerprints, even when the finger is dry, wet, or rough. It enables users to generate both rolled and flat fingerprints with a single contactless scan, providing a larger capture area and superior image quality compared to traditional contact-based scanners. Crucially, it utilises a structured lighting system to ensure precision and hygiene during fingerprint scanning. The scanner also boasts a modern, matte black design and features IP64-rated water and dust resistance. It can operate at temperatures between 0 and 50°C and is equipped with built-in stereo speakers and status LEDs to provide user guidance during scanning.

What Are the Key Segments in the Contactless Biometrics Technology Market?
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

Subsegments:
1) By Face Recognition: 2D Face Recognition, 3D Face Recognition, Thermal Face Recognition, Facial Landmark Recognition, Other Face Recognition Techniques
2) By Iris Recognition: Near Infrared Iris Recognition, Long Range Iris Recognition, Multimodal Iris Recognition, Other Iris Recognition Techniques
3) By Voice Recognition: Speaker Identification, Speaker Verification, Text-independent Voice Recognition, Text-Dependent Voice Recognition, Other Voice Recognition Techniques
4) By Fingerprint Recognition: Optical Fingerprint Recognition, Capacitive Fingerprint Recognition, Ultrasonic Fingerprint Recognition, Thermal Fingerprint Recognition, Other Fingerprint Recognition Methods
5) By Other Types: Hand Geometry Recognition, Vein Recognition, Signature Recognition, Gait Recognition, DNA Recognition, Other Emerging Biometric Technologies

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Who Are the Key Players Shaping the Contactless Biometrics Technology Market's 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

What Geographic Markets Are Powering Growth in the Contactless Biometrics Technology Market?
North America was the largest region in the contactless biometrics technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contactless biometrics technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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