Contactless Biometrics Technology Market Analysis

End-user (Government, Banking & Finance, Consumer Electronics, Healthcare, Transport & Logistics, Defense & Security)

The global contactless biometrics technology market is segmented and analyzed for demand and supply by end user into government, banking & finance, consumer electronics, healthcare, transport & logistics, defense & security, and others. Out of these seven, the government segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the adoption of contactless biometrics technology to reduce and manage rising criminal activities. This technology offers several benefits, such as it allows for the identification of criminals and terrorists. Further, governments are also increasingly utilizing biometric voting technology to assist and enable free from fraud and illegal acts elections, in addition to employing it to help in managing crime. As of 2022, robberies and severe assaults went up by more than 2% and 10%, in America.

Component (Hardware, Software, Services)

The global contactless biometrics technology market is also segmented and analyzed for demand and supply by component into hardware, software, and services. Amongst these three segments, the software segment is expected to garner a significant share. The growth of the segment can be attributed to the rising popularity of cloud-based services, artificial intelligence (AI), and machine learning (ML) for contactless biometrics solutions. For instance, by evaluating face traits and comparing them to a database, AI can make facial identification by computers considerably simpler, as behavioral biometrics are linked to artificial intelligence (AI), and machine learning (ML). Mostly, this technology is used with augmented reality programmes. Moreover, AI uses 3D biometrics and learns from millions of images to accurately identify a person's face. Furthermore, AI and biometrics helps in businesses safeguard their operations, clients, and staff.

Our in-depth analysis of the global market includes the following segments: