Global Contactless Biometrics Market
Information Technology

5 Key Takeaways From The Contactless Biometrics Market Report 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


As per The Business Research Company’s Contactless Biometrics Global Market Report 2024, the contactless biometrics market is expected to show significant growth in the forecast period.


Market Expansion and Projections

  • The contactless biometrics market has witnessed significant growth, escalating from $19.58 billion in 2023 to $22.85 billion in 2024, with a compelling CAGR of 16.7%.
  • The historic growth stems from heightened concerns for hygiene, rising demand for secure identity verification, and the integration of contactless technologies across industries.
  • Future projections indicate continued growth, with the market expected to reach $42.81 billion by 2028, fueled by the expansion of contactless biometrics in various sectors.


Driving Forces Behind Market Surge

  • Contactless payment systems serve as a catalyst for the burgeoning demand in the contactless biometrics market.
  • The prevalence of contactless payment methods, exemplified by platforms like Google Pay, signifies a growing consumer preference for secure and convenient transactions.
  • As the adoption of contactless payment systems increases, so does the demand for contactless biometric technologies.


Innovations Redefining Contactless Biometrics

  • Technological advancements drive innovations in contactless biometrics, propelling market growth.
  • Moqi Technology’s introduction of the 3D touchless fingerprint biometric scanner exemplifies the industry’s commitment to innovation.
  • The scanner offers enhanced accuracy and efficiency, showcasing the potential of touchless biometric solutions in various applications.


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Strategic Acquisitions and Market Expansion

  • Telos Corporation’s acquisition of Diamond Fortress Technologies (DFT) signifies the strategic expansion of biometric solutions portfolios.
  • The acquisition enhances Telos’ capabilities in meeting the evolving needs of diverse sectors, including transportation, healthcare, and financial services.
  • Such strategic moves strengthen market presence and foster innovation in contactless biometrics.


Market Segmentation and Dynamics

  • The contactless biometrics market is segmented based on components, technologies, applications, and end-users.
  • Components include hardware, software, and services, catering to diverse operational requirements.
  • Technologies encompass contactless fingerprint, facial recognition, iris recognition, palm vein recognition, and voice recognition, offering versatile authentication solutions.


Charting the Future of Contactless Biometrics

  • Contactless biometrics holds immense potential across sectors, including government, BFSI, consumer electronics, healthcare, transportation, logistics, defense, and security.
  • North America emerges as the largest region in the contact biometric market, poised for rapid growth in the forecast period.


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The Contactless Biometrics Global Market Report 2024  provides an in-depth analysis on the contactless biometrics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the contactless biometrics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.


View More Related Reports –
Biometrics Global Market Report 2024
Biometric Sensor Global Market Report 2024
Security And Vulnerability Management Global Market Report 2024


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