The report covers the forecast and analysis of the biometric payment market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the biometric payment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the biometric payment market on a global level.
In order to give the users of this report a comprehensive view of the biometric payment market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the biometric payment market by segmenting the market based on the component, technology, vertical, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
End-users have adapted to relatively easier biometric authentication techniques like facial recognition and fingerprint recognition through their smartphones. Additionally, fingerprint recognition is the most popular method of biometric payment for the customers due to its ease of use. Apart from this, a massive improvement has been witnessed in the sensor quality and its accuracy due to technological innovation. This has enhanced the biometric payment market surge in recent years.
Based on the component, the market is sectored into hardware and software. In terms of technology, the industry is divided into fingerprint biometric, iris biometric, face biometrics, voice biometric, heart biometric, and other biometric. On the basis of the vertical, the market for the biometric component is classified into government, automobile, retail, banking, financial services and insurance (BFSI), and food & beverages.
Some of the key players in the biometric payment market include Fingerprint Cards, IDEMIA, Precise Biometrics, Cognitec, iProov, Aware Inc., Gemalto, HID Global, IDEX, Nymi, Zwipe, and FingoPay.
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Industry Major Market Players