Contactless Biometrics Market

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Contactless Biometrics Market Future of
Healthcare in an Aging World
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The contactless biometrics market contributes
17,389.2 million revenue in 2021, and it is
projected to rise at a rate of 14.6 from 2021 to
2030, and generate 59,501.4 million revenue by
2030. It is ascribed to the rising preference for
contactless biometric technologies, increasing
security concerns, and government initiatives
that encourage contactless biometric systems. For
example, there is an ongoing progression in the
implementation of Aadhar for contactless and
facial authentication for various services. Thus,
it will boost the banking and financial services
sector. The contactless biometric systems are
utilized for forensics criminal identification,
access control, onboarding, and KYC. The rising
identity theft fraudulent activities, along
with increased usage of the digital identity for
various use cases across verticals result in the
growing demand for the systems for forensic and
criminal identification purposes.The software
category holds a significant share of the
contactless biometric industry, accounting for
40, and it is projected to retain its position
in the coming years, due to the growing demand
for software to enhance device compatibility for
various applications. In addition, the rise in
the queue-less passenger checks demand, fast and
secure access controls, seamless border crossing,
and quick identification to facilitate ease of
convenience and security boost the industry
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The services category captures the third
position, regarding market share, and it is
projected to witness higher growth in the near
future. It is ascribed to the training
consulting services, feasibility assessment
services, analysis, and advisory services, and
managed services, as they hold prominence for end
users for efficiently operating the biometric
systems.Face recognition technology captures a
significant share of the contactless biometric
industry, ascribed to wide usage by end users, as
it is reliable, economic, and facilitates
high-level security. The iris recognition
technology is projected to reflect the fastest
growth in the coming future, ascribed to the
technology that keeps away facial recognition
drawbacks. This technology functions by exposing
the iris to infrared light that discloses
internal complex patterns.Furthermore, the
contactless biometric card technology demand is
projected to register the highest growth in the
coming years, led by an extensive rise in
contactless payments. Therefore, companies are
focusing on advanced facial recognition software
and solutions development, which in turn
proliferates the contactless payments
industry.Under the end-user segment, the
government sector generates the largest revenue
share in the contactless biometrics industry,
accounting for 30. It is led by the massive
adoption of contactless biometric systems by
numerous national governments. For example,
contactless e-channels are installed at Hong Kong
International Airport with QR code scanning and
facial recognition technology for immigration.
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tNorth America holds the extensive share of the
contactless biometrics industry, accounting for
30, ascribed to the demand for seamless border
crossing, speedy identification of individuals,
rapid and secure access controls, and queue-less
passenger checks. In addition, the illegal
immigrants inflowing, unexpected terrorist
operations results in growing security concerns,
which in turn boost the demand for contactless
biometric solutions in the region.The
next-largest contributor to the industry is
Europe for the contactless biometrics industry.
It is projected to witness the fastest growth in
the near future, ascribed to the rising adoption
of touchless biometric systems in government and
military applications in the nation.Therefore,
the surging demand for contactless biometric
solutions led by the rising security concerns,
and the efficiency of these systems boost the
industry.
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