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Contactless Biometrics Market to Surpass US$ 78.6 Billion by 2032 as Application in Healthcare and Defense Sectors Rises

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Rockville, Nov. 17, 2022 (GLOBE NEWSWIRE) — The contactless biometrics market research report published by Fact.MR delves into key observations concerning prominent expansion parameters prevailing across key segments for the upcoming decade. It provides details about growth drivers, trends, and opportunities across leading segments, including technology, component, industry, and application across 5 key regions.

Fact.MR, Rockville MD – A Market Research and Competitive Intelligence Provider: Demand in the global contactless biometrics market is projected to rise at 16.4% CAGR during the assessment period (2022-2032). Overall sales in the market are projected to reach a valuation of US$ 78.6 Billion by the end of 2032, opines Fact.MR.

With the increased penetration of smartphones and online-based services, the demand for facial and fingerprint recognition systems is expected to surge. Integration of artificial intelligence and machine learning along with biometric algorithm in defense and healthcare sectors to enhance the face recognition capability is rising.

As per the study, the contactless biometrics are used in retail and banking sector to protect the identity and assets of consumers. Hence, rising application of facial recognition systems and iris biometrics will fuel the demand for contactless biometrics across the globe.

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Further, with the expansion of healthcare, retail, and banking sector coupled with the proliferation of smartphone users is facilitating the growth in the market. Nowadays, majority of consumers rely on facial and iris recognition systems to safeguard their assets and properties. To capitalize on this, key players are deploying enhanced security features such as vein recognition software and others with highly-developed AI-based technology.

As per the study, the U.S. is expected to be at the forefront of this technology and will account for lion’s share in the market. With the presence of increasing number of start-ups and established players, the U.S. will emerge as the most lucrative pocket in North America. Increased adoption of contactless biometrics in military and government sector will fuel the adoption in the country.

Key Takeaways:

  • Over 31% of revenue in the global contactless biometrics market is expected to be contributed by North America in 2031.
  • Demand for contactless biometrics in Europe is expected to surge at 1.8X through 2022 & beyond.
  • Based on technology, the facial recognition segment is expected to expand by 5.6X during the upcoming decade.
  • In terms of component, the software segment is expected to generate revenues worth US$ 34.1 Billion in the market.
  • The fingerprint recognition is expected to create an absolute $ opportunity of US$ 5.4 Billion over the forecast period

Growth Drivers:

  • Stringent regulation promoting the use of biometric systems, especially in government sector will drive the demand in the market.
  • Rising investment in facial recognition technologies used by defense and government industries will propel the growth in the market.
  • Growing use of smartphones and use of facial or finger recognition systems will improve the demand for contactless biometrics.

Restraints:

  • Increasing cases of data theft and cyber-security is likely to impact the sales negatively.
  • High cost associated with the deployment of the software and services might hamper the demand in the market.

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Competitive Landscape:

The contactless biometrics market is expected to be highly competitive, as per Fact.MR. Some of the leading firms are boosting their market presence by forming an alliance with end users. Meanwhile, some of the players are focusing on collaboration and are introducing cost-effective products to gain competitive edge.

For instance,

  • In January 2022, IDEMIA announced the launch of two new generations of contactless biometrics (fingerprint) terminals, namely MorphoWave SP and MorphoWave XP. The terminals are integrated with software integrations with access control platforms.
  • In August 2021, Fingerprint Cards AB announced the strategic collaboration with Seshaasai to develop, sell, and market contactless biometric cards across Asia Pacific, focusing in India.

Key Companies Profiled by Fact.MR

  • Touchless Biometric Systems AG
  • IDEMIA SAS
  • NViaSoft
  • Fujitsu Limited
  • NEC Corporation
  • Gemalto N.V.
  • Aware Inc.
  • HID Global
  • M2SYS Technology
  • Neurotechnology\
  • Assa Abloy AB
  • Blue Biometrics
  • EYN
  • FEITIAN Technologies CO.
  • Others

More Valuable Insights on Contactless Biometrics Market

By Structure:

  • Hardware
    • Contactless Fingerprint Scanners
    • Facial Recognition Scanners
    • Iris Recognition Scanners
    • Palm Vein Scanners
    • Others (Voice Recognition Devices, Contactless Smart Cards & Readers
  • Software
    • Integrated Biometrics Software
    • Standalone Software/Middleware
      • Facial Recognition Software
      • Vein Recognition Software
      • Iris Recognition Software
      • Others
  • Services
    • Professional Services
      • System Integration & Deployment
      • Security Consulting
      • Support & Maintenance
    • Managed Services

By Material:

  • Identity Verification
  • Payments & Transactions
  • Access Control

By Industry:

  • BFSI
  • Government & Law Enforcement
  • Healthcare
  • Military & Defense
  • Retail
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Middle East & Africa
  • Asia Pacific

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Key Questions Covered in the Contactless Biometrics Market Report

  • What is the projected value of the contactless biometrics market in 2022?
  • At what rate will the global contactless biometrics market grow until 2032?
  • Which are the factors hampering the growth in the contactless biometrics market?
  • Which region is expected to lead in the global contactless biometrics market during 2022-2032?
  • Which are the factors driving the contactless biometrics market during the forecast period?

Explore Fact.MR’s Coverage on the Technology Domain

Biometric Middleware Market: The global biometric middleware market is expected to benefit from rising need for reliable and secure solutions. Sales in the market are projected to grow at a robust pace over the forecast period on the back of increasing application in defense, healthcare, and defense sectors. As per the study, the software segment is predicted to generate maximum revenues in the global biometric middleware market.

IRIS Biometrics Market: As consumers are now more than ever regarding the security concerns while using the online platforms, demand for IRIS biometrics systems is expected burgeon across the globe. Growing dependency on digital technologies and automation will drive the adoption of these systems in diverse industries. As per the study, the BFSI sector is expected to be the most lucrative segment in the market.

Vein Recognition Biometrics Market: Increasing prevalence of data breach and cyber-theft are raising concerns regarding security measures across the globe. Hence, end users are relying on technologically advanced safety systems such as vein recognition biometrics for security purposes, especially in the BFSI sector. On the back of this, nearly US$ 704 Million worth revenues are expected to come from BFSI sector and will surpass the mark of US$ 800 Million by the end of 2032.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.

Specialties: Competition Tracking, Customized Research, Syndicated Research, Investment Research, Social Media Research, Business Intelligence, Industry Analysis, Thought Leadership.

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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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