Global Biometrics in BFSI Market 2024 by Company, Regions, Type and Application, Forecast to 2030

Global Biometrics in BFSI Market 2024 by Company, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Biometrics in BFSI market size was valued at USD million in 2023 and is forecast to a readjusted size of USD million by 2030 with a CAGR of % during review period.

Banks around the world are increasingly opting biometrics to authenticate customers accessing their services. This trend is not limited to banks; other financials outfits are also taking up biometric authentication to identify customers and safeguard resources. Increasing cases of financial fraud, identity theft, and threats from cyberspace have made banks to restructure their identity practices and biometrics in banking and financial services offers the solution. Most banking customers are tech-savvy nowadays and expect a friction-less access to banking services but password based identity solution fails keep up with expectations, however, with biometrics in banking, things seems to be changing now.

The BFSI sector is increasingly focusing on providing the highest level of security to their customers by reducing identity duplication. With changing consumer preferences and introduction of new payment methods, it has become imperative for banks to transform the payments and card (PCI) industry digitally. This has led to the introduction of new payment methods such as PIN cards, mobile wallets, and EMV chips. With the advances in technology, the number of frauds and forgeries are also increasing, thereby increasing the need for a solution which is difficult to duplicate. Several banks are adopting biometrics to prevent fraud and protect customer’s information from being compromised. One of the recent trends gaining significant traction in the market is the increasing adoption of vein recognition in ATMs and POS terminals. Banks and financial institutions in emerging economies like India, China, Mexico, and Brazil has readily adopting vein recognition biometrics to verify the identity of their customers. North America accounted for the largest share of the market and is likely to dominate the market until the end of 2020. Factors such as increased awareness among the organizations in the BFSI sector about the benefits of deployment of biometrics and the presence of many large financial institutions and companies in the region will contribute to this market’s growth in the region.

The Global Info Research report includes an overview of the development of the Biometrics in BFSI industry chain, the market status of Door Security (Voice Recognition, Vein Recognition), Log-In Management for PCs (Voice Recognition, Vein Recognition), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Biometrics in BFSI.

Regionally, the report analyzes the Biometrics in BFSI markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Biometrics in BFSI market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Biometrics in BFSI market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Biometrics in BFSI industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the revenue generated, and market share of different by Type (e.g., Voice Recognition, Vein Recognition).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Biometrics in BFSI market.

Regional Analysis: The report involves examining the Biometrics in BFSI market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Biometrics in BFSI market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Biometrics in BFSI:

Company Analysis: Report covers individual Biometrics in BFSI players, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Biometrics in BFSI This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Door Security, Log-In Management for PCs).

Technology Analysis: Report covers specific technologies relevant to Biometrics in BFSI. It assesses the current state, advancements, and potential future developments in Biometrics in BFSI areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Biometrics in BFSI market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Biometrics in BFSI market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.

Market segment by Type
Voice Recognition
Vein Recognition
Iris Recognition
Facial Recognition
Fingerprint Identification

Market segment by Application
Door Security
Log-In Management for PCs
Log-In Management for ATMs
Log-In Management for POS Terminals
Log-In Management for Banking

Market segment by players, this report covers
Cross Match Technologies
Fujitsu
HID Global
M2SYS
Safran

Market segment by regions, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
South America (Brazil, Argentina and Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)

The content of the study subjects, includes a total of 13 chapters:

Chapter 1, to describe Biometrics in BFSI product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top players of Biometrics in BFSI, with revenue, gross margin and global market share of Biometrics in BFSI from 2019 to 2024.

Chapter 3, the Biometrics in BFSI competitive situation, revenue and global market share of top players are analyzed emphatically by landscape contrast.

Chapter 4 and 5, to segment the market size by Type and application, with consumption value and growth rate by Type, application, from 2019 to 2030.

Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2019 to 2024.and Biometrics in BFSI market forecast, by regions, type and application, with consumption value, from 2025 to 2030.

Chapter 11, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 12, the key raw materials and key suppliers, and industry chain of Biometrics in BFSI.

Chapter 13, to describe Biometrics in BFSI research findings and conclusion.