New York, According to a new market research report published by Global Insight Services “Contactless Biometrics Technology Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Contactless biometrics technology is a type of biometric technology that uses physical characteristics to identify individuals. These physical characteristics can include fingerprints, iris patterns, or facial features. This type of technology is often used in security systems, as it can provide a quick and accurate way to identify individuals.
One advantage of contactless biometrics technology is that it can be used without the need for physical contact. This means that it can be used in a variety of situations, such as when someone is trying to access a secure area. It also means that the technology can be used with a variety of different devices, such as smartphones or laptops.
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Key Trends
There are three primary trends in contactless biometrics technology:
1. Increased accuracy and reliability: Contactless biometrics technology is becoming increasingly accurate and reliable, thanks to advances in sensor technology and algorithms. This is making it viable for a wider range of applications, including security-critical ones.
2. Greater usability: The technology is also becoming more user-friendly, thanks to developments such as the use of smartphone cameras for iris scanning. This is making it more practical for mass-market adoption.
3. Reduced costs: Contactless biometrics technology is becoming more affordable, thanks to economies of scale and the use of commodity hardware. This is making it accessible to a wider range of users and organizations.
Key Drivers
There are several key drivers of Contactless Biometrics Technology market. Firstly, the increasing adoption of smartphones and other mobile devices has resulted in the need for more secure and convenient authentication methods.
Secondly, the increasing cases of identity theft and fraud have necessitated the need for more robust authentication methods.
Thirdly, the increasing number of online transactions has led to the need for more secure and convenient authentication methods. Fourthly, the increasing number of applications that require authentication, such as online banking and e-commerce, has resulted in the need for more secure and convenient authentication methods.
Market Segmentation
The Contactless Biometrics Technology Market is segmented by technology, component, application, and region. By technology, the market is divided into contactless fingerprint technology and facial recognition. By component, the market is bifurcated into hardware and software. By application, the market is classified into identity verification and access control. By region, the market is classified into North America, Europe, Asia-Pacific, and rest of the world.
Key Players
The key players in the Contactless Biometrics Technology Market are Fujitsu Limited, NEC Corporation, Gemalto (Thales), Aware Inc., HID Global, M2SYS Technology, IDEMIA, BioConnect, IdentyTech Solutions, and Touchless Biometric Systems AG.
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Reasons to buy Contactless Biometrics Technology Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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