Dublin, July 19, 2024 (GLOBE NEWSWIRE) -- The "Biometrics for Banking and Financial Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Biometrics for Banking and Financial Services is estimated at US$5.9 Billion in 2023 and is projected to reach US$15.2 Billion by 2030, growing at a CAGR of 12.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Fujitsu Ltd., Bioenable Technologies Pvt., Ltd., Fujitsu Frontech Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Fingerprint Biometrics segment, which is expected to reach US$9.4 Billion by 2030 with a CAGR of 13.3%. The Face Biometrics segment is also set to grow at 11.2% CAGR over the next 8 years.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.2 Billion in 2023, and China, forecasted to grow at an impressive 16.4% CAGR to reach $3.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Biometrics for Banking and Financial Services Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Biometrics for Banking and Financial Services Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Biometrics for Banking and Financial Services Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Select Competitors (Total 63 Featured):
- Fujitsu Ltd.
- Bioenable Technologies Pvt. Ltd.
- Fujitsu Frontech Ltd.
- Cognitec Systems GmbH
- ASSA ABLOY AB
- Daon, Inc.
- 4G Identity Solutions Pvt. Ltd.
- BIO-key International, Inc.
- Dermalog Identification Systems GmbH
- Fulcrum Biometrics LLC
- BioID AG
- Aware, Inc.
- Facephi Biometria SA
- Bayometric
- Fingo
MarketGlass Platform
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Key Attributes
| Report Attribute | Details |
| No. of Pages | 320 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $5.9 Billion |
| Forecasted Market Value (USD) by 2030 | $15.2 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Biometrics for Banking and Financial Services - Global Key Competitors Percentage Market Share in 2023 (E)
- An Introduction to Biometrics Technology
- Types of Biometrics Technologies
- Biometrics: A Growing Solution to Address Financial Fraud and Security Breaches
- Growing Role of Biometrics in Banking and Financial Institutions
- Global Biometrics Market Breakdown of Revenues by End-Use (in %): 2023
- Global Biometrics Market Breakdown of Revenues by Technology (in %): 2023
- Application of Biometrics Technology in Financial Services Sector
- Global Market Prospects & Outlook
- Fingerprint Scan Technology Leads, Vein Recognition Gains Traction
- Developing Economies Spearhead Adoption of Biometrics in BFSI Industry
- Competition
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Digitization of Banking Services and Need for Stricter Identification Protocols to Prevent Security Breaches Drives Market
- Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions
- Biometric Technology Vs Conventional ID Authentication Methods
- Biometrics Enable Banks to Improve Customer Engagement Levels
- Growing Adoption of Mobile Banking Spurs Opportunities for Biometrics
- Global Online Banking Market Size (in US$ Billion) for the Years 2019, 2021, 2023 and 2025
- Increasing Availability of Biometrics-Enabled Smartphones Transforms Mobile Banking Services
- Smartphone Penetration Rate as Share of Total Population: 2016-2023
- Global Penetration Rate (In %) of Fingerprint Sensor in Smartphones
- Expanding Social Network Footprint of Financial Organizations: Opportunities for Biometrics Technology
- Biometric Payment Cards Propel Biometrics Adoption in BFSI Sector
- Biometrics Technology Facilitates Financial Inclusion of Unbanked Population
- Global Breakdown of Unbanked Adult Population (in %) by Country
- Global Breakdown of Unbanked Adult Population (in %) by Gender
- Top Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being Unbanked
- Biometrics-based Authentication at ATMs on the Rise
- Worldwide Installed Base of ATMs in Millions for the Years 2015, 2017, 2019, 2021, 2023, and 2025
- Future Financial Transactions to be Password-less, Contact-less and Friction-less
- Amidst Digital Transformation of Banking Operations, Behavioral Biometrics Witnesses Growth
- Keystroke Dynamics Authentication Overcomes Challenges Related to Conventional Authentication Methods
- Multi-Modal Biometrics Gain Momentum
- Biometric Multi-Factor Authentication: Providing Greater Security to Transactions
- Digital Onboarding Initiatives of Banks Present Favorable Outlook for Biometrics Technologies
- Voice Biometrics Continues to Gain Growth
- Contactless Iris Biometrics Technology Poised for Strong Growth
- Facial Recognition Growing in Popularity
- Banks See More Deployment of Vein Recognition Biometrics
- Dual Biometrics Finds Acceptance among Banks
- Identity Verification: A Major Growth Area for Biometrics Use in Banks
- Access Control: A Potential Application Area
- Fintech Banking Addresses Drawbacks of Conventional Banking
- On-Cloud Biometrics Gain Popularity
- Innovations in Biometrics for Banking and Financial Services Sector: A Review
- Select Innovations in Banking Biometrics Space
- Partnerships: Order of the day for BFSI
- Regulatory Mandates Promote Adoption Biometrics Technology in Banking Sector
- Challenges Facing Banks in Implementing Biometric Security Systems
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/g8kqkd
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