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Contactless Biometrics Market Growing at a CAGR 15.1% | Key Player Aware, Fingerprint Cards AB, Fujitsu, HID Global, IDEMIA

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Contactless Biometrics Market Growing at a CAGR 15.1% | Key Player Aware, Fingerprint Cards AB, Fujitsu, HID Global, IDEMIA

May 18
11:11 2022
Contactless Biometrics Market Growing at a CAGR 15.1% | Key Player Aware, Fingerprint Cards AB, Fujitsu, HID Global, IDEMIA
Aware (US), Fingerprint Cards AB (Sweden), Fujitsu (Japan), HID Global (US), IDEMIA (France), M2SYS Technology (China), NEC Corporation (Japan), nVIAsoft (US), Touchless Biometric Systems (Switzerland), Thales (France), Veridium (UK), BioConnect (Canada), Innovatrics (Slovakia), Cognitec Systems (Germany), DERMALOG Identification Systems (Germany).
Contactless Biometrics Market by Offering (Multimodal Biometrics Solution, Hardware, Software, Services), Software (Face Recognition, Iris Recognition), Application, Vertical and Region – Global Forecast to 2027

The contactless biometrics market size is projected to grow from USD 19.7 billion in 2022 to USD 39.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. The major driving factors contributing to the high growth rate of contactless biometrics market include increased use of contactless biometrics technology post the pandemic due to safety concerns, government initiatives that support the adoption of contactless biometrics solutions, and growing security concerns and hygiene issues among users due to touch-based systems.

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By offering, the services segment to register the highest growth rate during the forecast period

Based on offerings, contactless biometrics services have witnessed a growing demand in recent years. Contactless biometric services deliver biometric onboarding and authentication capabilities, and it eliminates the cost associated with the database, network, and storage components. Contactless biometrics services include professional services and managed services. Professional services are further classified into training and consulting services, feasibility assessment services, analysis, and advisory services. Managed services are expected to grow at a higher rate as it offers organizations to reduce effort, time, money, and risks. Its demand is driven by increasing users and data-security initiatives by the government. Moreover, the growing usage of mobile devices and rising demand for robust fraud detection and prevention systems is also helping the market.

Based on application area, the criminal identification and forensics segment to grow at the highest CAGR during the forecast period

The contactless biometric solutions are very useful during criminal investigation. Forensic biometrics uses fingerprints, palm prints, hand vasculature, hand shape, face, DNA, face, voice, iris, etc. In February 2022, Edmonton Police Service (EPS) in Canada adopted NeoFace Reveal facial recognition solution by NEC Corporation for identifying suspects in investigations through CCTV footage and photos. The software will help the police force with their databases that include criminal photos earlier charged for heinous crimes. Also, the software enables the detection of false information of the individuals in custody through facial recognition abilities.

Key and innovative vendors in contactless biometrics market include Aware (US), Fingerprint Cards AB (Sweden), Fujitsu (Japan), HID Global (US), IDEMIA (France), M2SYS Technology (China), NEC Corporation (Japan), nVIAsoft (US), Touchless Biometric Systems (Switzerland), Thales (France), Veridium (UK), BioConnect (Canada), Innovatrics (Slovakia), Cognitec Systems (Germany), DERMALOG Identification Systems (Germany), SecuGen (US), Neurotechnology (Lithuania), Shufti Pro (UK), Fidentity (Switzerland), Daon (US), NVISO (Switzerland), Noldus (The Netherlands), Blue Biometrics (Australia), True Face (US), Veridos (Germany), and ID R&D (US).

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These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in contactless biometrics market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2019 to 2022 to innovate their offerings and broaden their customer base.

Aware is a global provider of biometrics software, services, and solutions. The company operates through two main segments—Imaging and Biometrics. The company offers products and solutions for the authentication processes based on fingerprint, face, and iris recognition, among other technologies. Aware offers its products for border management, law enforcement, defense, intelligence, citizen ID, banking, and payments. The company also provides interoperable field-proven biometric functionality to capture, verify, compress, and decompress biometric images. Its contactless biometrics products include Knomi and Aware ABIS. Aware offers the mobile biometric authentication platform Knomi which can be configured for various touchless applications. Knomi provides face and voice recognition, passive liveness detection, flexible device, server, and browser-based options. Aware has a wide customer base around the world. It caters to more than 100 commercial leaders and 80 government agencies.

Fingerprint Cards AB has been providing safe and convenient identification and authentication solutions for last two decades. It manufactures different sensors which use different techniques such as Touch-based, Swipe-based, and Area-based for fingerprint recognition. Fingerprint Cards AB uses various technologies like biometric sensors, processors, modules, software, and algorithms. These technologies are used separately and in combination with each other to serve mobile and enterprise security, payments, and even smart homes. Fingerprints Cards AB offers Touchless 2.0 platform, which uses a combination of iris and face recognition technology to offer solutions for mass-market consumer devices. Automotive, IoT and access applications, advanced iris and face recognition software are combined with simple, inexpensive, and easy to integrate hardware to do quick and reliable touchless recognition for use in smartphones. With more than 200 employees Fingerprint Cards AB caters to a wide customer base worldwide. It is planning to expand its presence in new regions and create regional offices in China and Switzerland. A new distribution hub will also be set up in Singapore.

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