PUBLISHER: The Business Research Company | PRODUCT CODE: 1682163
PUBLISHER: The Business Research Company | PRODUCT CODE: 1682163
Contactless biometrics technology involves the use of biometric identification methods that do not necessitate physical contact between the sensing device and the individual undergoing identification. This technology is applied across diverse industries, owing to its convenience, efficiency, and enhanced hygiene when compared to traditional contact-based biometric systems.
The primary categories of contactless biometrics technology include face recognition, iris recognition, voice recognition, fingerprint recognition, and others. Face recognition is a method that employs technology to identify or verify individuals by analyzing and comparing patterns in their facial features. It encompasses various components, such as hardware, software, and services, with end-users spanning healthcare, defense and security, banking, financial services, insurance (BFSI), government, and other sectors.
The contactless biometrics technology market research report is one of a series of new reports from The Business Research Company that provides contactless biometrics technology market statistics, including contactless biometrics technology industry global market size, regional shares, competitors with a contactless biometrics technology market share, detailed contactless biometrics technology market segments, market trends and opportunities, and any further data you may need to thrive in the contactless biometrics technology industry. This contactless biometrics technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The contactless biometrics technology market size has grown rapidly in recent years. It will grow from $17.09 billion in 2024 to $20.34 billion in 2025 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to rise of mobile devices, retail and hospitality demands, workforce management, financial sector adoption.
The contactless biometrics technology market size is expected to see rapid growth in the next few years. It will grow to $40.88 billion in 2029 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to increasing demand for security, rising need for fraud prevention, demand for frictionless transactions, geopolitical factors and national security concerns. Major trends in the forecast period include increased integration with IoT devices, expansion in healthcare applications, advancements in facial recognition accuracy, integration with wearable devices.
The rising security concerns are expected to drive the growth of the contactless biometrics technology market in the future. Security concerns encompass the anxieties regarding the protection of assets, information, systems, or individuals against various threats, vulnerabilities, and risks. These concerns can manifest in different contexts-personal, organizational, or societal-covering a broad spectrum of potential security issues. Contactless biometrics technology addresses these security concerns by offering secure and convenient authentication methods that significantly diminish fraud and enhance safety across multiple industries. For instance, a report titled *Ecommerce Fraud Trends and Statistics 2024*, published by Mastercard, a U.S.-based global payments network, indicated that global ecommerce fraud losses amounted to $41 billion in 2022 and are projected to surpass $48 billion in 2023. The most rapidly growing threat is promotional exploitation, with U.S. retailers reportedly losing over $89 billion annually. Additionally, friendly fraud is expected to account for 61% of all chargebacks, costing merchants over $100 billion this year. Account takeover (ATO) incidents increased by 131% in late 2022, posing a significant threat to online retailers. Thus, the rising security concerns are a key factor driving the growth of the contactless biometrics technology market.
Leading companies in the contactless biometrics technology domain are actively innovating to meet the escalating demand for such solutions, exemplified by products such as the MOQI A1 Pro contactless biometric scanners. These scanners epitomize biometric identification or verification methods that eschew physical contact with a device, leveraging various techniques such as facial recognition, iris recognition, and contactless fingerprinting to authenticate individuals based on unique physical characteristics. For instance, Moqi, a prominent technology firm based in China, introduced the MOQI A1 Pro in June 2022. This contactless Livescan solution excels in swiftly and accurately capturing high-definition fingerprints, even from dry, wet, or rough fingers, generating rolled and flat fingerprints with just one contactless scan. Notably, its structured lighting system ensures precise and hygienic fingerprint scanning, while its sleek, black matte design, coupled with IP64-rated water and dust resistance, ensures durability and operational resilience. Moreover, with built-in stereo speakers and status LEDs, the scanner provides user-friendly guidance throughout the scanning process, ensuring seamless and efficient operation. This innovative solution underscores a commitment to addressing pressing security concerns while delivering enhanced user experiences and operational efficacy in diverse environments.
In April 2024, Amadeus, a global technology company based in Spain, acquired Vision-Box for about $0.34 billion. This strategic acquisition is intended to strengthen Amadeus' ability to deliver seamless travel experiences using advanced biometric solutions. Vision-Box, located in Portugal, specializes in biometric identification technology that leverages unique physical characteristics to verify individual identities.
Major companies operating in the contactless biometrics technology market are 3M Cogent Inc., Fujitsu Limited, NEC Corporation, Thales Group, BIO-key International Inc., Assa Abloy AB, IDEMIA SAS, Synaptics Incorporated, HID Global Corporation, Zwipe AS, Fingerprint Cards AB, Precise Biometrics AB, Crossmatch Technologies Inc., Aware Inc., Innovatrics s.r.o., nVIAsoft Corporation, Touchless Biometric Systems AG, Gemalto N.V., FaceFirst Inc., CrossCore Biometrics LLC, M2SYS Technology Inc., Cognitec Systems GmbH, Egis Technology Inc., Suprema Inc., Veridium Corporation
North America was the largest region in the contactless biometrics technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contactless biometrics technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the contactless biometrics technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The contactless biometrics technology market includes revenues earned by entities by providing services such as biometric system integration, biometric access control solutions, biometric payment solutions, biometric identity verification services, and biometric authentication as a service. The market value includes the value of related goods sold by the service provider or included within the service offering. The contactless biometrics technology market also includes sales of fingerprint scanners, iris recognition devices, voice recognition software, facial recognition systems, and wearable biometric devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Contactless Biometrics Technology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on contactless biometrics technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for contactless biometrics technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The contactless biometrics technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.