Summary

Global Biometric Payment Market is valued approximately at USD 8.4 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 16.3% over the forecast period 2024-2032. Biometric payment systems employ unique physical or behavioral attributes such as fingerprints or facial recognition to authenticate transactions securely. This POS technology has seen increased adoption in recent years due to its enhanced security features compared to traditional password- or PIN-based systems. Biometric payment systems are versatile and can be used for both in-person and online transactions, making them an attractive option for consumers and businesses alike.
The market growth is driven by the increasing demand for secure and convenient payment methods. Traditional authentication methods are susceptible to vulnerabilities such as identity theft and fraud, which has led to a surge in the adoption of biometric payment systems that offer superior security by leveraging technologies like fingerprint recognition, iris recognition, facial recognition, and voice recognition. Furthermore, the growing penetration of smartphones equipped with biometric sensors and the rise of wearable biometric devices are significant contributors to market expansion. As consumers seek seamless and hassle-free payment experiences, the adoption of biometric payment systems continues to rise. Additionally, factors such as financial inclusion initiatives, government support, and the escalating threat of cybersecurity further propel the market growth. However, privacy and data security concerns, along with operational challenges, pose significant obstacles to the widespread adoption of biometric payment solutions. The rising use cases and formats of authentication devices, coupled with government initiatives promoting financial inclusion, present substantial opportunities for the biometric payment market. These factors are anticipated to drive market growth and innovation, offering potential for expansion and development.
The key regions considered for the global Biometric Payment Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the biometric payment market in 2023, attributed to the heightened emphasis on security and fraud prevention, which is driving the adoption of biometric payment systems as a more secure alternative to traditional methods. The region's technological advancements and investment strategies further fuel market expansion. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period, driven by increasing digitalization efforts, rapid adoption of advanced technologies, and a growing emphasis on secure payment solutions.
Major market players included in this report are:
IDEMIA
Mastercard
Google LLC
Thales Group
Fingerprint Cards AB
NEC Corporation
VeriFone, Inc.
Visa Inc.
Fujitsu
Alibaba Group Holding Limited
Apple Inc.
Samsung Electronics Co., Ltd.
Amazon.com, Inc.
BioCatch Ltd.
IDEX Biometrics ASA
The detailed segments and sub-segment of the market are explained below:
By Type
• Contact-Based
• Contactless
• Hybrid
By Biometric Mode
• Fingerprint Recognition
• Facial Recognition
• Voice Recognition
• Iris Scans
• Others
By Application
• BFSI
• Retail and E-commerce
• Healthcare
• Transportation
• Government
• Others
By Region:
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
Latin America
• Brazil
• Mexico
• RoLA
Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA
Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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Table of Contents

Chapter 1. Global Biometric Payment Market Executive Summary
1.1. Global Biometric Payment Market Size & Forecast (2022- 2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Biometric Mode
1.3.3. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Biometric Payment Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Biometric Payment Market Dynamics
3.1. Market Drivers
3.1.1. Increase in smartphone usage
3.1.2. Rise in cybersecurity threats
3.1.3. Increase in demand for secure and convenient payment methods
3.2. Market Challenges
3.2.1. Privacy and data security concerns
3.2.2. Operational challenges
3.3. Market Opportunities
3.3.1. Emerging use cases and formats of authentication devices
3.3.2. Government initiatives promoting financial inclusion

Chapter 4. Global Biometric Payment Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Biometric Payment Market Size & Forecasts by Type 2022-2032
5.1. Segment Dashboard
5.2. Global Biometric Payment Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. Contact-Based
5.2.2. Contactless
5.2.3. Hybrid

Chapter 6. Global Biometric Payment Market Size & Forecasts by Biometric Mode 2022-2032
6.1. Segment Dashboard
6.2. Global Biometric Payment Market: Biometric Mode Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. Fingerprint Recognition
6.2.2. Facial Recognition
6.2.3. Voice Recognition
6.2.4. Iris Scans
6.2.5. Others

Chapter 7. Global Biometric Payment Market Size & Forecasts by Application 2022-2032
7.1. Segment Dashboard
7.2. Global Biometric Payment Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
7.2.1. BFSI
7.2.2. Retail and E-commerce
7.2.3. Healthcare
7.2.4. Transportation
7.2.5. Government
7.2.6. Others

Chapter 8. Global Biometric Payment Market Size & Forecasts by Region 2022-2032
8.1. North America Biometric Payment Market
8.1.1. U.S. Biometric Payment Market
8.1.1.1. Type breakdown size & forecasts, 2022-2032
8.1.1.2. Biometric Mode breakdown size & forecasts, 2022-2032
8.1.1.3. Application breakdown size & forecasts, 2022-2032
8.1.2. Canada Biometric Payment Market
8.2. Europe Biometric Payment Market
8.2.1. U.K. Biometric Payment Market
8.2.2. Germany Biometric Payment Market
8.2.3. France Biometric Payment Market
8.2.4. Spain Biometric Payment Market
8.2.5. Italy Biometric Payment Market
8.2.6. Rest of Europe Biometric Payment Market
8.3. Asia-Pacific Biometric Payment Market
8.3.1. China Biometric Payment Market
8.3.2. India Biometric Payment Market
8.3.3. Japan Biometric Payment Market
8.3.4. Australia Biometric Payment Market
8.3.5. South Korea Biometric Payment Market
8.3.6. Rest of Asia Pacific Biometric Payment Market
8.4. Latin America Biometric Payment Market
8.4.1. Brazil Biometric Payment Market
8.4.2. Mexico Biometric Payment Market
8.4.3. Rest of Latin America Biometric Payment Market
8.5. Middle East & Africa Biometric Payment Market
8.5.1. Saudi Arabia Biometric Payment Market
8.5.2. South Africa Biometric Payment Market
8.5.3. Rest of Middle East & Africa Biometric Payment Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Thales Group
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. Fingerprint Cards AB
9.3.3. NEC Corporation
9.3.4. VeriFone, Inc.
9.3.5. Visa Inc.
9.3.6. Fujitsu
9.3.7. Alibaba Group Holding Limited
9.3.8. Apple Inc.
9.3.9. Samsung Electronics Co., Ltd.
9.3.10. Amazon.com, Inc.
9.3.11. BioCatch Ltd.
9.3.12. IDEX Biometrics ASA
9.3.13. IDEMIA
9.3.14. Mastercard
9.3.15. Google LLC


Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes