Face-swiping Payment Market by Type (Payment Equipment, Payment System), Application (Restaurant, Retail, Travel), End-Use - Global Forecast 2024-2030


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Face-swiping Payment Market by Type (Payment Equipment, Payment System), Application (Restaurant, Retail, Travel), End-Use - Global Forecast 2024-2030


The Face-swiping Payment Market size was estimated at USD 4.36 billion in 2023 and expected to reach USD 4.88 billion in 2024, at a CAGR 12.31% to reach USD 9.83 billion by 2030.

Global Face-swiping Payment MarketFace-swiping payment, also referred to as facial recognition payment, enables users to complete payments and digital transactions using their faces. It is an emerging technology that utilizes advanced software algorithms and hardware, such as cameras and sensors, to authenticate the identity of the user for a quick and secure payment process. Consumers, in recent years, have shown an inclination towards seamless digital payments through their smartphone applications, which has cemented the demand for face-swiping payment. Furthermore, fintech industries and banking and governance operations have demanded advanced, frictionless transactions. However, the possibility of biases and failure of the technology to recognize certain facial features limits the application of face-swiping payment. Additionally, several concerns have been raised regarding privacy issues of biometric data and the possibility of cyberattacks and data breaches of platforms that provide face-swiping payment services, which impedes the adoption of the technology among end-users. However, players have explored the integration of AI/ML algorithms and data analytics technologies to tackle privacy challenges while maximizing the accuracy and reliability of the technology. Blockchain, due to its advanced security and decentralized architecture, provides a safe avenue to ensure that financial transactions are transparent and reliable, and players can investigate the benefits of blockchain technology for face-swiping payment to create new opportunities for growth.Regional InsightsThe Americas region, particularly the US and Canada, has a robust technological architecture and several key players invested in the sphere of digital payments, which has driven several innovations in face-swiping payment. Additionally, developed financial institutions and banks across the Americas have recognized the need for enhanced security during payment transactions. In Europe, stringent data privacy regulations, such as the General Data Protection Regulation (GDPR), are primarily responsible for shaping consumer preference for face-swiping payment. Economies such as the UK, Germany, and France are involved in multinational collaborations to facilitate digital payments, which has created a significant demand for face-swiping payment. APAC region represents an evolving market with a rapidly growing middle-class population that prefers contactless digital payments. In India, the presence of a unified payment interface (UPI) for making digital payments has seen considerable growth, and China has encouraged the adoption of face-swiping payment for retail shopping.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Face-swiping Payment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Face-swiping Payment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Face-swiping Payment Market, highlighting leading vendors and their innovative profiles. These include Alibaba Group, Apple Inc., CloudWalk Technology Co. Ltd., Clover Network, LLC by Fiserv, Facepay, Mastercard Inc., NEC Corporation, PAX Global Technology Limited, PayByFace B.V., PopID, Inc., Scheidt & Bachmann GmbH, SnapPay Inc., Stripe, Inc., Telepower Communications Co., Ltd., Tencent Holdings Ltd., and VisionLabs.

Market Segmentation & Coverage

This research report categorizes the Face-swiping Payment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Payment Equipment
Payment System
Application
Restaurant
Retail
Travel
End-Use
ATMs & Banking
E-Commerce
Mobile Payments
Payment Terminals
Point-of-Sale (POS)
Self-Service Kiosks
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Face-swiping Payment Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Face-swiping Payment Market?
3. What are the technology trends and regulatory frameworks in the Face-swiping Payment Market?
4. What is the market share of the leading vendors in the Face-swiping Payment Market?
5. Which modes and strategic moves are suitable for entering the Face-swiping Payment Market?

Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Face-swiping Payment Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rising preference for digital payments and transactions and rising ownership of smartphones
5.1.1.2. Need to improve security and safety in the banking, financial, and government sector
5.1.1.3. Introduction of biometric recognition technologies in kiosks, restaurants, and cafes
5.1.2. Restraints
5.1.2.1. Potential biases of face-swiping payment and technical and operational constraints
5.1.3. Opportunities
5.1.3.1. Advancements to improve the accuracy and performance of face-swiping payment technology
5.1.3.2. Expanding preference for blockchain-based payment services across the world
5.1.4. Challenges
5.1.4.1. Privacy concerns and the possibility of cyberattacks and data breaches
5.2. Market Segmentation Analysis
5.2.1. Type: Advancements to improve the functionality of payment equipment
5.2.2. Application: Expanding usage of face-swiping payment in the retail sector to improve customer satisfaction and comfort
5.2.3. End-Use: Growing ownership of smartphones driving the preference for mobile payments
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Face-swiping Payment Market, by Type
6.1. Introduction
6.2. Payment Equipment
6.3. Payment System
7. Face-swiping Payment Market, by Application
7.1. Introduction
7.2. Restaurant
7.3. Retail
7.4. Travel
8. Face-swiping Payment Market, by End-Use
8.1. Introduction
8.2. ATMs & Banking
8.3. E-Commerce
8.4. Mobile Payments
8.5. Payment Terminals
8.6. Point-of-Sale (POS)
8.7. Self-Service Kiosks
9. Americas Face-swiping Payment Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States
10. Asia-Pacific Face-swiping Payment Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam
11. Europe, Middle East & Africa Face-swiping Payment Market
11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom
12. Competitive Landscape
12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
12.3.1. New Product Launch & Enhancement
12.3.1.1. Paytm Working On Payments Through Facial Recognition
12.3.1.2. WeChat Makes Facial Recog Payment Systems Talk To The Hand
12.3.1.3. Mastercard’s Newly Launched Face Recognition Payment System is Already Raising Accuracy Concerns
13. Competitive Portfolio
13.1. Key Company Profiles
13.1.1. Alibaba Group
13.1.2. Apple Inc.
13.1.3. CloudWalk Technology Co. Ltd.
13.1.4. Clover Network, LLC by Fiserv
13.1.5. Facepay
13.1.6. Mastercard Inc.
13.1.7. NEC Corporation
13.1.8. PAX Global Technology Limited
13.1.9. PayByFace B.V.
13.1.10. PopID, Inc.
13.1.11. Scheidt & Bachmann GmbH
13.1.12. SnapPay Inc.
13.1.13. Stripe, Inc.
13.1.14. Telepower Communications Co., Ltd.
13.1.15. Tencent Holdings Ltd.
13.1.16. VisionLabs
13.2. Key Product Portfolio
14. Appendix
14.1. Discussion Guide
14.2. License & Pricing
FIGURE 1. FACE-SWIPING PAYMENT MARKET RESEARCH PROCESS
FIGURE 2. FACE-SWIPING PAYMENT MARKET SIZE, 2023 VS 2030
FIGURE 3. FACE-SWIPING PAYMENT MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. FACE-SWIPING PAYMENT MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. FACE-SWIPING PAYMENT MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. FACE-SWIPING PAYMENT MARKET DYNAMICS
FIGURE 7. FACE-SWIPING PAYMENT MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
FIGURE 8. FACE-SWIPING PAYMENT MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. FACE-SWIPING PAYMENT MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
FIGURE 10. FACE-SWIPING PAYMENT MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. FACE-SWIPING PAYMENT MARKET SIZE, BY END-USE, 2023 VS 2030 (%)
FIGURE 12. FACE-SWIPING PAYMENT MARKET SIZE, BY END-USE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. AMERICAS FACE-SWIPING PAYMENT MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 14. AMERICAS FACE-SWIPING PAYMENT MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. UNITED STATES FACE-SWIPING PAYMENT MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 16. UNITED STATES FACE-SWIPING PAYMENT MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. ASIA-PACIFIC FACE-SWIPING PAYMENT MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 18. ASIA-PACIFIC FACE-SWIPING PAYMENT MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. EUROPE, MIDDLE EAST & AFRICA FACE-SWIPING PAYMENT MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 20. EUROPE, MIDDLE EAST & AFRICA FACE-SWIPING PAYMENT MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. FACE-SWIPING PAYMENT MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 22. FACE-SWIPING PAYMENT MARKET SHARE, BY KEY PLAYER, 2023

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