FMI Provides Contactless Biometrics Technology Market Projections in its Revised Report, COVID-19 Pandemic Shaping Global Demand

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Contactless Biometrics Technology Market to Face
a Significant Slowdown in 2030, as COVID-19 Sets
a Negative Tone for Investors

• May 2020

Report Id REP-GB-11283 Published On
14-April-2020 Category Electronics,
Semiconductors, and ICT
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Contactless Biometrics Technology Market Analysis
Greater emphasis on public safety monitoring and
soaring need for patient screening and early
detection are pushing the demand for more
sophisticated touch-less biometrics technology.
Driven by broadening application for identity
verification, payments, transactions, and access
control, global contactless biometrics technology
market will grow exponentially at over 17
through 2030. As indicated by a new report of
Future Market Insights (FMI), the novel
coronavirus outbreak will have a widespread
influence on contactless biometrics technology
market. A considerable uptick in online
transactions will be a complementary force.
Adoption rates will remain higher at facilities
that require stringent surveillance, law
enforcement, and access control. Key companies
are leveraging demand from law enforced and
government sectors. Healthcare and biotechnology
facilities would account for a majority of
demand, especially for facial recognition
systems. "An influx of innovative and secure
avenues of healthcare applications will arise
amid the COVID-19 pandemic, fostering demand
specifically for iris recognition and facial
recognition systems," projects the FMI report.
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Contactless Biometrics Technology Market Analysis

• Contactless Biometrics Technology Market - Key
  Takeaways
• Application for facial recognition will
  experience a boom, with soaring demand for
  verification and access control.
• Demand for application in identity verification
  is soaring, followed closely by access control.
• Software installed base continues to account for
  a significant market share.
• North American market continues to lead, majorly
  driven by military and government applications.
• Contactless Biometrics Technology Market - Key
  Driving Factors
• Increasing government investments in iris
  recognition, facial biometrics, and fever
  detection is driving market growth.
• Declining preference for contact forms of
  biometrics among enterprises, healthcare
  facilities, and border control units has augured
  well for market growth.
• Visible rise in collaborations between biometric
  system vendors and governments for introducing
  citizen-centric contactless solutions is pushing
  demand further.
• Operational benefits of accuracy, hygiene,
  security, and minimal maintenance are
  complementary to market growth.

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Contactless Biometrics Technology Market Analysis

• Contactless Biometrics Technology Market - Key
  Restraints
• High price point associated with contactless
  biometric systems in comparison to conventional
  systems limits broader adoption.
• Privacy and security concerns remain longstanding
  constraints that go hand in hand with each new
  innovation introduced in market.
• Competition Analysis
• Key players are primarily investing in varying
  biometric modalities such as contactless
  fingerprint tech, facial recognition, voice and
  iris recognition, and palm vein recognition to
  appeal to a wider consumer base. Biometric system
  vendors will specifically emphasize raising
  awareness about the benefits of security and
  hygiene maintenance through contactless
  biometrics technology. The global COVID-19
  pandemic has created opportunities for market
  players as touch based alternatives are losing
  their share to touch-less systems. Equipment
  manufacturers are collaborating with governments
  to contribute towards virus containment. Some of
  the leading players include but are not limited
  to IDEMIA, NEC, Fujitsu, and Gemalto.

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Contactless Biometrics Technology Market Analysis
Request for covid19 Impact Analysis
https//www.futuremarketinsights.com/covid19/rep-g
b-11283 More About the Report The FMI's
market research report of 300 pages offers
comprehensive insights on contactless biometrics
technology market. The market is analyzed on the
basis of technology (contactless fingerprint
technology, facial recognition, iris recognition,
palm vein recognition, voice recognition, and
contactless cards), component (hardware,
software, services, and others), application
(identity verification, payments transactions,
and access control), and industry (BFSI,
government law enforcement, healthcare,
military defense, retail, and others) across
six key regions (North America, Latin America,
Europe, East Asia, South Asia and Pacific, and
MEA).
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Contactless Biometrics Technology Market Analysis

• Source Link https//www.accesswire.com/588238/Gau
  ging-the-COVID-19-Impact-Contactless-Biometrics-Te
  chnology-Penetrates-Security-Infrastructure-Faster
  -as-the-World-Goes-Touchless-Future-Market-Insight
  s
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Contactless Biometrics Technology Market Analysis
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