Escalating Security Concerns Driving Growth In Contactless Biometrics Technology Market: Strategic Insights Driving Contactless Biometrics Technology Market Momentum in 2025

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Contactless Biometrics Technology Market Size Growth Forecast: What to Expect by 2025?
The market size of contactless biometrics technology has seen a swift expansion in the past few years. The market is projected to rise from $17.09 billion in 2024 to $20.25 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.5%. The surge during the historical period is linked to the increased usage of mobile devices, the requirements of the retail and hospitality industries, workforce management, and the financial sector's acceptance.

How Will the Contactless Biometrics Technology Market Size Evolve and Grow by 2029?
Predictions indicate a swift expansion in the contactless biometrics technology market in the coming years, with expectations of it reaching $40.71 billion by 2029, marking a compound annual growth rate (CAGR) of 19.1%. Factors propelling this predicted growth within the forecast period include heightened security demands, an augmented need for fraud prevention, the desire for seamless transactions, along with geopolitical nuances and national security issues. Noteworthy trends to keep an eye on during the forecast period encompass heightened integration with IoT gadgets, growth in healthcare application, improvements in facial recognition precision, and collaboration with wearable tech.

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What Drivers Are Propelling the Growth of Contactless Biometrics Technology Market Forward?
The surge in security concerns is anticipated to fuel the expansion of the contactless biometrics technology market. Security concerns pertain to the apprehension over safeguarding assets, information, systems, or individuals from a variety of threats, vulnerabilities, and risks. These concerns can emerge from numerous contexts, such as personal, organizational, or societal realms, covering a broad array of possible security problems. Contactless biometrics technology mitigates such security concerns by offering secure and convenient verification methods that drastically minimize fraud and augment security across diverse industries. A report titled 'Ecommerce fraud trends and statistics 2024' by Mastercard, a US-based global payments network, reveals that worldwide ecommerce fraud losses touched $41 billion in 2022 and are predicted to surpass $48 billion in 2023. The rapidly emerging threat is promotional exploitation, with indications that retailers in the U.S. forfeit over $89 billion annually. Friendly Fraud is anticipated to represent 61% of all chargebacks, burdening merchants with costs over $100 billion this year. Account Takeover (ATO) witnessed a leap of 131% in late 2022, posing a considerable threat to online retailers. Hence, the rise in security anxieties are stimulating the growth of the contactless biometrics technology market.

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Which Emerging Trends Are Transforming the Contactless Biometrics Technology Market in 2025?
Prominent companies in the contactless biometrics technology industry concentrate on creating innovative solutions like MOQI A1 Pro contactless biometric scanners to satisfy the increasing demand for non-contact biometric technology. These scanners encapsulate identification or verification techniques that do not demand physical contact. They utilize different approaches such as face recognition, iris recognition, and contactless fingerprinting to identify persons based on distinct physical traits. In June 2022, for example, Moqi, a tech firm from China, introduced the MOQI A1 Pro. This non-contact Livescan solution is devised to swiftly and accurately capture high-resolution fingerprints, irrespective of the condition of the fingers. The scanner can produce rolled and flat fingerprints with a single non-contact scan, offering a broader capture zone and superior image quality compared to conventional contact-based scanners. The structured lighting system is an integral part of the process, as it guarantees precise and sanitary fingerprint scans. The scanner also has a sophisticated black matte design and boasts IP64-rated resistance to water and dust, with the ability to function in temperatures between 0 and 50°C. Moreover, it features built-in stereo speakers and status LEDs to assist users during scanning.

What Are the Key Segments in the Contactless Biometrics Technology Market?
The contactless biometrics technologymarket 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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