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Contactless Biometric Market: Demand For Iris Recognition Increasing At The Fastest Rate Over The Assessment Period


The global contactless biometrics market is forecasted to register impressive growth at a CAGR of 16% by 2031, owing to growing demand for iris biometrics.

ROCKVILLE, MARYLAND, UNITED STATES, December 14, 2021 /EINPresswire.com/ — Surge in the need for high-end security across government establishments as well as corporates has led to mounting demand for biometric technology. While the past half-decade witnessed technological upgradation of biometric technology, demand for contactless biometrics has also increased. Based on Fact.MR’s assessment, in 2020, out of every 10 biometric unit sales, four were contactless. The outbreak of COVID-19 further unfurled the utility of the less-prominent features of this technology, including identification of people with masks on the face and extended capability of temperature scanning.

As per the latest report published by Fact.MR, the global contactless biometrics market is anticipated to exceed a valuation of US$ 9 Bn by 2021, and expand at an impressive CAGR of around 16% over the forecast period of 2021 to 2031.

A recent study by Fact.MR on the contactless biometric market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of contactless biometrics.

The Demand analysis of Contactless Biometrics Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Contactless Biometrics Market across the globe.

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Key Segments Covered

By Component

Contactless Biometric Hardware

Contactless Biometric Software

Contactless Biometric Services

Professional Services

Managed Services

By Application

Face Biometrics

Fingerprint Biometrics

Hand Geometry Biometrics

Iris Biometrics

Voice Biometrics

Others

By End Use

Government

Banking & Finance

Consumer Electronics

Healthcare

Transportation & Logistics

Defence & Security

Others

By Region

North America

Latin America

Europe

East Asia

South Asia

Oceania

MEA

A comprehensive estimate of the Contactless Biometrics market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Contactless Biometrics during the forecast period. Price point comparison by region with the global average price is also considered in the study.

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Some Notable Offerings by Fact.MR Report on Contactless Biometrics market:

We will provide you an analysis of the extent to which this Contactless Biometrics market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.

We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.

Also, this report will help you to identify any trends to forecast growth rates.

The analyzed report will forecast the general tendency for supply and demand.

Some of the Contactless Biometrics Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:

Details regarding latest innovations and development in Contactless Biometrics and how it is gaining customer traction during the forecast period.

Analysis about the customer demand of the products and how it is likely to evolve in coming years.

Latest regulations enforced by government bodies and local agencies and their impact on Demand of Contactless Biometrics Market .

Insights about adoption of new technologies and its influence on the Contactless Biometrics market Size.

Overview of the impact of COVID-19 on Contactless Biometrics Market and economic disruptions caused by the pandemic.

Evaluates post-pandemic impact on the Sales of Contactless Biometrics Market during the forecast period.

Key Takeaways from Market Study

In 2020, North America and Europe together accounted for over 57% revenue of the global contactless biometrics market.

The market in East Asia, South Asia, and Middle East and Africa is estimated to grow over 7-fold over the next ten years.

The hardware segment accounted for over 30% of global market revenue.

Fingerprint application accounted for over one-fourth of the global market in 2020.

Contactless biometrics generated over US$ 5 Bn revenue from transportation & logistics, government and defence, and security applications.

The market is moderately concentrated, with companies such as Touchless Biometric Systems AG, Fujitsu Limited, and Fingerprint Cards AB accounting for a majority of the market share.

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After reading the Market insights of Contactless Biometrics Report, readers can:

Understand the drivers, restraints, opportunities and trends affecting the Sales of market.

Analyze key regions holding significant share of total Contactless Biometrics market revenue.

Study the growth outlook of Contactless Biometrics market scenario, including production, consumption, history and forecast.

Learn consumption pattern and impact of each end use & supply side analysis of Contactless Biometrics market.

Investigate the recent R&D projects performed by each market player & competitive analysis of Contactless Biometrics Market Players.

How Fact.MR Assists in Making Strategic Moves For Contactless Biometrics Market Manufacturer?

The data provided in the Contactless Biometrics market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.

The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

For More Trending Insights: https://www.einnews.com/pr_news/557919162/north-america-dominates-nano-healthcare-technology-for-active-implantable-devices-over-the-assessment-period-fact-mr

Supriya Bhor
EMINENT RESEARCH & ADVISORY SERVICES
6282511583 ext.
email us here





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