Contactless Biometrics Technology Market Size Report Analysis, Share, Revenue, Growth Rate With Forecast Overview

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Summary

Global Contactless Biometrics Technology Market is valued approximately at USD 6.9 billion and is anticipated to grow with a healthy growth rate of more than 20.3% over the forecast period.

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Market Overview:

Global Contactless Biometrics Technology Market is valued approximately at USD 6.9 billion and is anticipated to grow with a healthy growth rate of more than 20.3% over the forecast period. Biometrics is defined as a process through which a person’s exclusive traits are recorded and recognized by means of an electrical device. Whereas contactless biometric technology usually offers the use of touchless authentication technology, which offers a safer mode reliant on convenience and hygiene. Contactless biometrics technology is an exceptionally accurate and consistent system for the detection of personal biometrics (such as contactless methods) and is applied for the registration, turnout, and administration of personnel. Contactless biometrics further offer secure access to applications and authenticates payments.

Furthermore, the rise in demand for smartphones, along with the rising utilization of Automatic Identification and Data Capture (AIDC) technology in the e-commerce and retail industry are the few factors responsible for the CAGR of the market during the forecast period. According to Statista, about 1.6 billion units of smartphone were shipped around the world in 2016, demonstrating an increase from 1.3 billion smartphones shipments since 2014. Also, as per the International Data Corporation (IDC), the smartphone sellers distributed a total of 369.8 million units across the globe in the fourth quarter of 2019.

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The regional analysis of the global Contactless Biometrics Technology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising adoption of contactless biometric solutions in government & defense applications, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period.

Major market player included in this report are:
Aware Inc.
Fingerprint Cards AB
Fujitsu Limited
Gemalto N.V.
HID Global
IDEMIA
M2SYS Technology
NEC Corporation
nViaSoft
Touchless Biometric Systems AG