Selbyville, Delaware , Oct. 08, 2020 (GLOBE NEWSWIRE) -- According to reliable estimates, global contactless biometrics technology market accounted for USD 6.9 billion in the year 2019 and is projected to exhibit a robust CAGR of 20.3% during 2020-2027.
Insights regarding the market share along with the predicted growth rate of the listed segments are cited in the report. Further, it analyzes the regional landscape of the industry while thoroughly studying each regional contributor. The report delivers an all-inclusive examination of the leading players of the business sphere and systematically presents the company profile, alongside their product portfolio.
Industry experts claim that escalating demand for smartphones coupled with increasing penetration of AIDC technology (automatic identification and data capture) in the retail as well as e-commerce verticals are augmenting the growth of global contactless biometrics technology industry.
For the uninitiated, biometrics is the process of recording and recognizing the exclusive traits of an individual by the means of an electrical device. Contactless biometrics, on the other hand, offers similar technology that is devoid of physical contact with the device for the measurement.
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Numerous advantageous attributes such as increased hygiene and convenience along with enhanced security, consistency, and accuracy of the devices are further stimulating global contactless biometrics technology market outlook. However, growing concerns germane to data security and privacy are expected to impede the market expansion over the analysis timeframe.
Market segmentation
Based on component terrain, global contactless biometrics technology industry is divided into services, software, and hardware. With regards to application spectrum, the market is bifurcated into fingerprint, iris, voice, hand geometry, face, and others.
The end-user landscape of worldwide contactless biometrics technology market comprises of defense & security, transport & logistics, healthcare, consumer electronics, banking & finance, government, and others.
Regional analysis
From a regional point of view, the industry is split into Latin America, Asia-Pacific, Europe, North America, and rest of the world. The country-level fragmentation of worldwide contactless biometrics technology marketplace comprises of Mexico, Brazil, South Korea, India, Japan, China, Italy, Spain, France, Germany, United Kingdom, Canada, and U.S.
As per the report, North America accounts for a majority of contactless biometrics technology market share in the recent past, on account of high concentration of vendors in the region along with increasing adoption of contactless biometric solutions in the government & defense sector.
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Alternatively, Asia-Pacific contactless biometrics technology industry is estimated to register the highest CAGR over 2020-2027. Escalating production of smartphones coupled with rising digitization in the industrial sectors of India and China are creating lucrative opportunities for APAC market.
Global Contactless Biometrics Technology Market Component Sub-segments (Revenue, USD Billion, 2017-2027)
- Services
- Software
- Hardware
Global Contactless Biometrics Technology Market Application Sub-segments (Revenue, USD Billion, 2017-2027)
- Fingerprint
- Iris
- Voice
- Hand Geometry
- Face
- Others
Global Contactless Biometrics Technology Market End-user Sub-segments (Revenue, USD Billion, 2017-2027)
- Defense & Security
- Transport & Logistics
- Healthcare
- Consumer Electronics
- Banking & Finance
- Government
- Others
Global Contactless Biometrics Technology Market Geographical Analysis (Revenue, USD Billion, 2017-2027)
Latin America
- Mexico
- Brazil
Asia-Pacific
- South Korea
- India
- Japan
- China
- Rest of Asia Pacific
Europe
- Italy
- Spain
- France
- Germany
- United Kingdom
- Rest of Europe
North America
- Canada
- U.S.
Global Contactless Biometrics Technology Market Competitive Landscape (Revenue, USD Billion, 2017-2027)
- nVIAsoft Corporation
- NEC Corporation
- M2SYS Technology
- IDEMIA
- HID Global
- Gemalto N.V.
- Fujitsu Limited
- Fingerprint Cards AB
- Aware Inc.
- Touchless Biometric Systems AG
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Contactless Biometrics Technology Market, by Region, 2018-2027 (USD Billion)
1.2.2. Contactless Biometrics Technology Market, by Component, 2018-2027 (USD Billion)
1.2.3. Contactless Biometrics Technology Market, by Application, 2018-2027 (USD Billion)
1.2.4. Contactless Biometrics Technology Market, by End-Use Industry, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Contactless Biometrics Technology Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Contactless Biometrics Technology Market Dynamics
3.1. Contactless Biometrics Technology Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Contactless Biometrics Technology Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Contactless Biometrics Technology Market, by Component
5.1. Market Snapshot
5.2. Global Contactless Biometrics Technology Market by Component, Performance - Potential Analysis
5.3. Global Contactless Biometrics Technology Market Estimates & Forecasts by Component 2017-2027 (USD Billion)
5.4. Contactless Biometrics Technology Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
5.4.3. Services
Chapter 6. Global Contactless Biometrics Technology Market, by Application
6.1. Market Snapshot
6.2. Global Contactless Biometrics Technology Market by Application, Performance - Potential Analysis
6.3. Global Contactless Biometrics Technology Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Contactless Biometrics Technology Market, Sub Segment Analysis
6.4.1. Face
6.4.2. Hand Geometry
6.4.3. Voice
6.4.4. Iris
6.4.5. Fingerprint
Chapter 7. Global Contactless Biometrics Technology Market, by End-Use Industry
7.1. Market Snapshot
7.2. Global Contactless Biometrics Technology Market by End-Use Industry - Potential Analysis
7.3. Global Contactless Biometrics Technology Market Estimates & Forecasts by End-Use Industry 2017-2027 (USD Billion)
7.4. Contactless Biometrics Technology Market, Sub Segment Analysis
7.4.1. Government
7.4.2. Banking & Finance
7.4.3. Consumer Electronics
7.4.4. Healthcare
7.4.5. Transport & logistics
7.4.6. Defense & Security
7.4.7. Others
Chapter 8. Global Contactless Biometrics Technology Market, Regional Analysis
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