Biometric Banking Market Report: Trends, Forecast and Competitive Analysis to 2030

Biometric Banking Trends and Forecast

The future of the global biometric banking market looks promising with opportunities in the finger print, facial recognition, hand geometry, and iris recognition markets. The global biometric banking market is expected to reach an estimated $18.6 billion by 2030 with a CAGR of 17.8% from 2024 to 2030. The major drivers for this market are increasing use of biometric systems in consumer electronics and the automotive industry and rise in security and reduced identity fraud.

A more than 150-page report is developed to help in your business decisions.

Biometric Banking by Segment

The study includes a forecast for the global biometric banking by product, application, and region.

Biometric Banking Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software
• Service

Biometric Banking Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Finger Print
• Facial Recognition
• Hand Geometry
• Iris Recognition
• Others

Biometric Banking Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Biometric Banking Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies biometric banking companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the biometric banking companies profiled in this report include-

• Techshino Technology
• Ample Trails
• Biometrics Institute
• State Grid Corporation of China
• BPI Connected Identification

Biometric Banking Market Insights

Lucintel forecasts that hardware will remain the largest segment over the forecast period due to growing focus on hardware-based security capabilities and the extended utilization of biometric technology in consumer electronics for authentication and identity purposes.

Within this market, finger print will remain the largest segment due to swift integration of these technologies into consumer electronic devices.

APAC is expected to witness highest growth over the forecast period due to rising threat of terrorism in the region.

Features of the Global Biometric Banking Market

Market Size Estimates: Biometric banking market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Biometric banking market size by product, application, and region in terms of value ($B).

Regional Analysis: Biometric banking market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different products, applications, and regions for the biometric banking market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the biometric banking market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the biometric banking market size?

Answer: The global biometric banking market is expected to reach an estimated $18.6 billion by 2030.

Q2. What is the growth forecast for biometric banking market?

Answer: The global biometric banking market is expected to grow with a CAGR of 17.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the biometric banking market?

Answer: The major drivers for this market are increasing use of biometric systems in consumer electronics and the automotive industry and rise in security and reduced identity fraud.

Q4. What are the major segments for biometric banking market?

Answer: The future of the biometric banking market looks promising with opportunities in the finger print, facial recognition, hand geometry, and iris recognition markets.

Q5. Who are the key biometric banking market companies?

Answer: Some of the key biometric banking companies are as follows.

• Techshino Technology
• Ample Trails
• Biometrics Institute
• State Grid Corporation of China
• BPI Connected Identification

Q6. Which biometric banking market segment will be the largest in future?

Answer: Lucintel forecasts that hardware will remain the largest segment over the forecast period due to growing focus on hardware-based security capabilities and the extended utilization of biometric technology in consumer electronics for authentication and identity purposes.

Q7. In biometric banking market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rising threat of terrorism in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the biometric banking market by product (hardware, software, and service), application (finger print, facial recognition, hand geometry, iris recognition, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?