Global Biometric Banking Market Size study & Forecast, by Component, by Type, by End User and Regional Analysis, 2023-2030

Description

List of Tables

Global Biometric Banking Market is valued at approximately USD 5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.2% over the forecast period 2023-2030. 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.

The financial industry has witnessed a profound shift towards digitalization, with consumers increasingly relying on online and mobile banking services for their financial transactions. This surge in digital payments has brought about several challenges related to security and identity verification, which traditional authentication methods might not address effectively. Biometric banking solutions, which utilize unique physical or behavioral characteristics of individuals such as fingerprints, facial recognition, or voice patterns, have emerged as a robust response to these security challenges. According to Indian Brand Equity Foundation digital payments in India are anticipated to increase 4 times by 2026-2027. In 2022-2023 , there is a projected year-on-year transactional volume growth of 56%. Furthermore, digital transactions are expected to surge by 56% within a single year, soaring from USD 873.38 million in 2021-22 to USD 1.46 billion in 2022-23. Similarly, according to the Germany Trade and Invest report, Germany is home to Europe's second-largest market for digital payments. In 2022, the value of digital payment transactions was USD 5.22 billion, and by 2026, it is anticipated to reach USD 7.69 billion. Thus, the rising number of digital payments is driving the market growth. In addition, rising technological advancement, and strong regulatory requirements are creating new opportunities for market growth. However, Security concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Biometric Banking Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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.

Major market player included in this report are:

AFour Technologies
Apica
Novacoast, Inc.
Capgemini SE
Happiest Minds Technologies
HCL Technologies Limited
Infosys Limited
Keysight Technologies
Praetorian Security Inc
Rapid7 Inc

Recent Developments in the Market:

In March 2023, Rapid7 Inc. acquired Minerva Labs, a prominent supplier of anti-evasion and ransomware prevention solutions. This strategic move empowers customers to tap into advanced detection and response capabilities that span their cloud environments, on-premises infrastructure, and extended attack surfaces through Rapid7's Managed Detection and Response (MDR) services. This acquisition reinforces Rapid7's commitment to bolstering ransomware prevention measures, thereby strengthening its position as a leader in the realm of managed threat detection services.
In December 2020, Nuance Communications, Inc. joined forces with the Industrial Bank of Korea (IBK) to introduce an innovative biometric solution for video calls, marking a pioneering advancement in the banking sector. By harnessing Nuance's cutting-edge voice biometrics technology and AI capabilities, IBK has successfully safeguarded over 100,000 customers from fraudulent activities. This achievement was made possible by automatically verifying customer identities during both video and phone conversations, setting a new standard for security in the industry.

Global Biometric Banking Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Component, Type, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

Hardware
Software
Service

By Type:

Fingerprint
Facial Recognition
Hand Geometry
Iris Recognition
Other

By End User:

Retail
Government
Transportation
Healthcare
Hospitality
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
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Biometric Banking Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Biometric Banking Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Biometric Banking Market, by Type, 2020-2030 (USD Billion)
- 1.2.4. Biometric Banking Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Biometric Banking Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Biometric Banking Market Dynamics

3.1. Biometric Banking Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Rising adoption of mobile banking and digital payments
  - 3.1.1.2. Rising payments fraud prevention concerns
  - 3.1.1.3. Rising adoption of neo-banking
- 3.1.2. Market Challenges
  - 3.1.2.1. Security concerns related to cybersecurity
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rising technological advancement
  - 3.1.3.2. Strong banking regulatory requirements

Chapter 4. Global Biometric Banking 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
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Biometric Banking Market, by Component

5.1. Market Snapshot
5.2. Global Biometric Banking Market by Component, Performance - Potential Analysis
5.3. Global Biometric Banking Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Biometric Banking Market, Sub Segment Analysis
- 5.4.1. Hardware
- 5.4.2. Software
- 5.4.3. Service

Chapter 6. Global Biometric Banking Market, by Type

6.1. Market Snapshot
6.2. Global Biometric Banking Market by Type, Performance - Potential Analysis
6.3. Global Biometric Banking Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
6.4. Biometric Banking Market, Sub Segment Analysis
- 6.4.1. Fingerprint
- 6.4.2. Facial Recognition
- 6.4.3. Hand Geometry
- 6.4.4. Iris Recognition
- 6.4.5. Other

Chapter 7. Global Biometric Banking Market, by End User

7.1. Market Snapshot
7.2. Global Biometric Banking Market by End User, Performance - Potential Analysis
7.3. Global Biometric Banking Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Biometric Banking Market, Sub Segment Analysis
- 7.4.1. Retail
- 7.4.2. Government
- 7.4.3. Transportation
- 7.4.4. Healthcare
- 7.4.5. Hospitality
- 7.4.6. Others

Chapter 8. Global Biometric Banking Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Biometric Banking Market, Regional Market Snapshot
8.4. North America Biometric Banking Market
- 8.4.1. U.S. Biometric Banking Market
  - 8.4.1.1. Component breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. End User breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Biometric Banking Market
8.5. Europe Biometric Banking Market Snapshot
- 8.5.1. U.K. Biometric Banking Market
- 8.5.2. Germany Biometric Banking Market
- 8.5.3. France Biometric Banking Market
- 8.5.4. Spain Biometric Banking Market
- 8.5.5. Italy Biometric Banking Market
- 8.5.6. Rest of Europe Biometric Banking Market
8.6. Asia-Pacific Biometric Banking Market Snapshot
- 8.6.1. China Biometric Banking Market
- 8.6.2. India Biometric Banking Market
- 8.6.3. Japan Biometric Banking Market
- 8.6.4. Australia Biometric Banking Market
- 8.6.5. South Korea Biometric Banking Market
- 8.6.6. Rest of Asia Pacific Biometric Banking Market
8.7. Latin America Biometric Banking Market Snapshot
- 8.7.1. Brazil Biometric Banking Market
- 8.7.2. Mexico Biometric Banking Market
8.8. Middle East & Africa Biometric Banking Market
- 8.8.1. Saudi Arabia Biometric Banking Market
- 8.8.2. South Africa Biometric Banking Market
- 8.8.3. Rest of Middle East & Africa Biometric Banking 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. AFour Technologies
  - 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. Recent Developments
- 9.3.2. Apica
- 9.3.3. Novacoast, Inc.
- 9.3.4. Capgemini SE
- 9.3.5. Happiest Minds Technologies
- 9.3.6. HCL Technologies Limited
- 9.3.7. Infosys Limited
- 9.3.8. Keysight Technologies
- 9.3.9. Praetorian Security Inc
- 9.3.10. Rapid7 Inc

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
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Biometric Banking Market, report scope
TABLE 2. Global Biometric Banking Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Biometric Banking Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 4. Global Biometric Banking Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 5. Global Biometric Banking Market estimates & forecasts by End User 2020-2030 (USD Billion)
TABLE 6. Global Biometric Banking Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Biometric Banking Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Biometric Banking Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Biometric Banking Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Biometric Banking Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Biometric Banking Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Biometric Banking Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Biometric Banking Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Biometric Banking Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Biometric Banking Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Biometric Banking Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Biometric Banking Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Biometric Banking Market
TABLE 71. List of primary sources, used in the study of global Biometric Banking Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Biometric Banking Market, research methodology
FIG 2. Global Biometric Banking Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Biometric Banking Market, key trends 2022
FIG 5. Global Biometric Banking Market, growth prospects 2023-2030
FIG 6. Global Biometric Banking Market, porters 5 force model
FIG 7. Global Biometric Banking Market, pest analysis
FIG 8. Global Biometric Banking Market, value chain analysis
FIG 9. Global Biometric Banking Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Biometric Banking Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Biometric Banking Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Biometric Banking Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Biometric Banking Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Biometric Banking Market, regional snapshot 2020 & 2030
FIG 15. North America Biometric Banking Market 2020 & 2030 (USD Billion)
FIG 16. Europe Biometric Banking Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Biometric Banking Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Biometric Banking Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Biometric Banking Market 2020 & 2030 (USD Billion)