With the emergence and long-term Impact of COVID-19, Global Biometric Banking Market to reach USD 17.80 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Biometric Banking Market points towards a potential rise to USD 17.80 billion by 2030. Biometric banking, also known as biometric authentication in banking, refers to the use of biometric technology to verify the identity of individuals accessing their bank accounts, conducting financial transactions, or performing other banking activities. Biometrics involves the measurement and analysis of unique physical or behavioral characteristics of individuals for identification and authentication purposes. The Biometric Banking Market is expanding because of factors such as the rising adoption of mobile banking and digital payments, rising fraud prevention concerns, and the rising adoption of neo-banking.
Geographically, the global Biometric Banking market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the rising adoption of biometric solutions by corporate banks, the development of the smart retail industry, a rising number of digital payment transactions, the rising adoption of mobile banking, rising e-commerce and retail industry in the region. Whereas, North America is expected to have significant growth owing to factors such as the rising number of mobile banking and neo bank users and rising contactless payments in the region. Along with this, rising technological advancement activities in the region are creating lucrative growth in the market.
The global Biometric Banking market is highly competitive owing to the presence of several key players such as AFour Technologies Apica Novacoast, Inc. Capgemini SE Happiest Minds Technologies HCL Technologies Limited Infosys Limited Keysight Technologies Praetorian Security Inc Rapid7 Inc, and others.
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Key findings of the study suggest:
- Global Biometric Banking Market is anticipated to grow with a healthy growth rate of more than 17.2% over the forecast period 2023-2030.
- In the Type segment, Fingerprint emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to rising adoption of biometric solutions by corporate banks in the region.
- North America is expected to grow at higher rate owing to rising number of mobile banking and neo bank users in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Component:
- Hardware
- Software
- Service
By Type:
- Fingerprint
- Facial Recognition
- Hand Geometry
- Iris Recognition
- Others
By End User:
- Retail
- Government
- Transportation
- Healthcare
- Hospitality
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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