The pandemic has ruined some businesses but at the same time accelerated and developed others – the ones that might not have grown otherwise. Contactless biometrics is one such case, commented Milen Ganev, a partner in the Bulgarian software company E-CARD, which is in the top 50 in Europe.
Due to the pandemic, people's concerns and government initiatives and largely due to the popularity of tablets and smartphones, contactless biometrics solutions are a fast-growing market today. Its volume is estimated at 19.7 billion dollars this year, Milen Ganev explained.
Within 5 years, this amount will increase to $ 39.8 billion, according to observers from MarketsandMarkets. Their latest report looks at the boom in this market caused by Covid and the general desire for more hygiene and physical distance.
However, unlike previous growth factors, non-contact biometrics will evolve in the future for a variety of reasons. The leading role will be played by the needs of law enforcement agencies and in particular criminal identification and investigations.
What used to be done primarily on the basis of fingerprints is now increasingly being replaced by contactless reading of unique body markers: the network of blood vessels, the shape of the palm, the face, the characteristics of the voice, the iris fingerprint.
Although in most technology niches the greatest dynamics in development is expected for the Asian markets, in this case North America is expected to play a leading role.
The motives that will shape the policies for the introduction of contactless biometrics include the fight against terrorism, the fight against illegal immigration, security. We will also hear more and more about cases of identity theft in cyberspace. Because of them, contactless biometric solutions will become more and more important, stressed Milen Ganev from "E-CARD".
Another factor that will affect the dynamics of the market will be the management of the workforce, especially in the context of the already established forms of hybrid and remote work.