Contactless Biometrics Technology Market Share

North American Market Forecast

North America industry is predicted to account for largest revenue share of 35% by 2037. The growth of the market can be attributed majorly to the growing acceptance of contactless biometrics solutions in defense and government applications. The need for contactless biometric technologies to maintain high levels of security has grown in the US as a result of growing criminal activities. For instance, the Department of Homeland Security uses biometrics to identify and detect unauthorized entry into the US. According to data, approximately 40 million American adults were affected by identity fraud in 2022, causing damages of over USD 50 billion.

APAC Market Statistics

The Asian Pacific contactless biometrics technology market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the increasing frequency of terrorist attacks, which has led to increased concerns regarding national security in the region. Biometric technology has gained popularity in the defense sector to verify a person's identification and prevent unauthorized people from entering certain areas where armed troops are stationed. For instance, in India Foreign military officers are being recognized on the other side of the border using facial recognition technology, and lately they are also used to detect pirates in the Indian Ocean, and monitor movements of terrorists worldwide.

Europe Market Forecast

Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the increasing need for contactless identification in crowded places. For instance, using contactless biometrics in congested areas of the region has numerous advantages, such as better efficiency and higher cyber security. In addition, this technology enables the identification and authentication of people, without the need of standard identity documents such as ID cards or passports or any physical touch. Further, the biometric identification technologies allow authorized travelers to move freely, seamlessly, safely, and securely while preserving the security of EU borders, which is also anticipated to contribute to the market growth in the region.