Rising at 9.9% CAGR, Biometric System Payment Market Share to Reach USD 63.4 Billion, Globally By 2026: Facts & Factors

New York, NY, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Biometric Payment Market By Technology (Single Factor Authentication, Fingerprint Recognition, Iris Recognition, Palm Recognition, Face Recognition, Signature Recognition, Voice Recognition, Biometric Smart Card, & Multimodal), By Type (Contact-Based, Contactless, & Hybrid), By Deployment Mode (Hardware & Software), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” in its research database

“According to the report, the global biometric payment market was valued at approximately USD 32.4 Billion in 2020 and is expected to reach a value of around USD 63.4 Billion by 2026, at a CAGR of around 9.9% between 2021 and 2026.”

Global Biometric Payment Market: Overview

Biometrics payments are the systematic referral of initiating a mode of payment that is based on the calibration of body measurements and further calculations that are based on the user’s characteristics. Biometric authentication is often incorporated in the sector of computer science as a means of identification and providing access control among its ecosystem before a mode of payment can be initiated. Users often have to opt-in for the service and register their chosen form of biometrics with their bank's onboarding process for this advanced format of payment to work.

Biometric payment is a kind of point of sale technique that makes use of biometric authentication to recognize the end-user and authorize the fund deduction from the bank account of the end-user or the customer.  Moreover, a fingerprint biometric payment is the most commonly used biometric payment method.

Request Your Free Sample Report of Global Biometric Payment Market @ https://www.fnfresearch.com/sample/biometric-payment-market-by-component-hardware-and-software                 

(The free sample of this report is readily available on request).

Our Free Sample Report Includes:

• [185+ Pages Report] with a list of tables and figures
• COVID-19 pre and post business impact analysis
• Top market players profiles with sales & revenue analysis
• Regional analysis using charts and graphs
• Easy to understand graphical data
• Key segments, industry drivers, challenges & opportunities in the global & regional market
• Research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Industry Major Market Players

• Thales
• Safran
• NEC
• ASSA ABOLY
• Fujitsu
• Precise Biometrics
• NXP Semiconductors
• Linxens
• ZWIPE
• IDEMIA
• Cardlab
• Gemalto NV
• Konal

To know an additional revised list of 2020-2021 top market players, request a sample report: https://www.fnfresearch.com/sample/biometric-payment-market-by-component-hardware-and-software           

Key questions answered in this report:

• What is the projected size & share of the Biometric Payment Market?
• What are the key driving factors for the growth of the Biometric Payment Market?
• Who are the top market players in Biometric Payment Market?
• How many segments are analyzed in Biometric Payment Market?
• Can I get a customized free sample report of the Biometric Payment Market?

Directly Purchase a copy of the report with TOC @ https://www.fnfresearch.com/buynow/su/biometric-payment-market-by-component-hardware-and-software           

Global Biometric Payment Market: Growth Factors

The significant growth of the global biometric payment market is rising use case scenarios of biometrics in the sector of consumer electronics coupled with increasing formats of authentication and identification devices to name a few. Additionally, the growing need for surveillance and security measures coupled with a heightened threat of external threats such as terrorist attacks is expected to witness the footprint of the global biometric payment market during the forecast period. Moreover, an increased rate of adoption of biometric-based applications and devices coupled with factors pertaining to rapid, convenient, and secure solutions will boost the growth of the global biometric payment during the forecast period.

Increased threats arising from international terrorism, organized crime, and illegal migration are expected to drive the global biometric payment market during the forecast period. Easy installation solutions coupled with a low intensive labor force will fuel the growth of the global biometric payment market during the forecast duration. Rising concerns among consumers while making electronic payments over secured servers coupled with ease of convenience will further increase the consumer base for the global biometric payment market during the forecast. However, a higher installation and deployment cost is expected to decrease the market value of the market to some extent.

Request Customized Copy of Report @ https://www.fnfresearch.com/customization/biometric-payment-market-by-component-hardware-and-software           

(We customize your report according to your research need. Ask our sales team for report customization.)

Global Biometric Payment Market: Report Scope

Global Biometric Payment Market: Segmentation

The global biometric payment market can be segmented into technology, type, deployment model, and regions.

The global biometric payment market can be divided across single-factor authentication, fingerprint recognition, iris recognition, palm recognition, face recognition, signature recognition, voice recognition, biometric smart card, and multimodal on the basis of technology. The segment pertaining to single-factor authentication is expected to witness the largest market share during the advent of the forecast owing to increasing convenience, cost-effective measures, and rapid response time in terms of functionality to name a few. The global biometric payment market is categorized into contact-based, contactless, and hybrid on the basis of type. The hybrid segment is expected to occupy the largest market share during the advent of the forecast owing to the rising adoption of efficient and reliable biometric solutions coupled with increased safety incentives against spoofing and forgery-related intrusion attempts. The global biometrics payment market can be fragmented into hardware and software on the basis of the deployment model. The software category is expected to witness the largest market share during the advent of the forecast owing to increased adoption of cloud-based services coupled with AI-related adoption measures in the sector of biometric devices to name a few.

Inquire more about this report before purchase @ https://www.fnfresearch.com/inquiry/biometric-payment-market-by-component-hardware-and-software  

(You may enquire a report quote OR available discount offers to our sales team before purchase.)

Global Biometric Payment Market: Regional Analysis

Asia-Pacific is expected to witness the largest market share during the advent of the forecast owing to rapid economic growth in emerging economies such as China, India, Japan, and South Korea coupled with the rising technological advancements to name a few. Additionally, rising consumer awareness about increased security gains obtained from the biometrics payment solutions coupled with lowered pricing options for these devices will increase the footprint of the biometric payment market in the region during the forecast period. Increased deployment of biometric payment devices in airports, banks, ATMs, and other public places coupled with favorable government initiatives undertaken to increase the impact of biometric payment devices will further boost the growth of the biometric payment market in the region. The emergence of reliable vendors in the region coupled with increased penetration of international players in the region will lead to a considerable market share during the forecast period.

Browse the full “Biometric Payment Market By Technology (Single Factor Authentication, Fingerprint Recognition, Iris Recognition, Palm Recognition, Face Recognition, Signature Recognition, Voice Recognition, Biometric Smart Card, & Multimodal), By Type (Contact-Based, Contactless, & Hybrid), By Deployment Mode (Hardware & Software), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” Report at https://www.fnfresearch.com/biometric-payment-market-by-component-hardware-and-software

Global Biometric Payment Market: By Technology Segment Analysis

• Single Factor Authentication
• Fingerprint Recognition
• Iris Recognition
• Palm Recognition
• Face Recognition
• Signature Recognition
• Voice Recognition
• Biometric Smart Card
• Multimodal

Global Biometric Payment Market: By Type Segment Analysis

• Contact-Based
• Contactless
• Hybrid

Global Biometric Payment Market: By Deployment Mode Segment Analysis

• Hardware
• Software

For media inquiry, mail to: sales@fnfresearch.com

About Facts & Factors (FnF Research):

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us LinkedIn: https://www.linkedin.com/company/fnfresearch

Follow Us Twitter: https://twitter.com/fnfresearch

Contact Us:

Sanu Thomas

USA: +1-347-989-3985

Email: sales@fnfresearch.com

Web: https://www.fnfresearch.com

Blog: http://fnfnewsblog.com