Global Biometric Payment Card Market Size Study, by Card Type, by Technology, by End-User and Regional Forecasts 2022-2032

Description

The Global Biometric Payment Card Market is valued at approximately USD 144.25 billion in 2023 and is anticipated to grow with a staggering growth rate of 68.8% over the forecast period 2024-2032. Biometric payment cards, which utilize advanced biometric authentication methods like fingerprint and facial recognition, are revolutionizing the security and convenience of financial transactions. By integrating an additional layer of security beyond traditional PINs or signatures, these cards significantly mitigate fraud and enhance user experience. This innovative technology is gaining traction across various sectors including finance, government, and corporate security, driven by the increasing incidence of data breaches and identity theft.

The shift towards contactless payment methods, fueled by consumer demand for faster and more convenient transactions, presents a significant growth prospect for the biometric payment card market. Technological advancements in biometric sensors and the integration of artificial intelligence for better accuracy and speed are also propelling market growth. Additionally, the presence of a large number of firms investing in research and development to innovate and improve biometric payment card technology contributes to the market's expansion. Regulatory support and favorable government policies promoting secure payment solutions enhance the market's growth prospects. However, the high cost of these cards and growing security and privacy concerns pose challenges to market growth. Despite these hurdles, the continuous advancement in information and communications technology and the rapid growth of the e-commerce sector are expected to offer lucrative opportunities for market expansion during the forecast period.

The key regions considered for the Global Biometric Payment Card Market study include Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. In 2023, North America dominated the biometric payment card market and is expected to maintain its leading position throughout the forecast period. This dominance is driven by the increased adoption and use of contactless cards as a payment method, along with the presence of numerous firms operating in the market, which has fueled the growth of the biometric payment card industry in the region. Meanwhile, Asia Pacific is anticipated to experience significant growth during the forecast period. This growth is attributed to the rising demand for enhanced security in the payment industry and a growing consumer preference for contactless payment methods, which are key factors driving the expansion of the biometric payment card market in the region.

Major market players included in this report are:

Thales Group
Bio-idz
Zwipe
Mastercard
Visa Inc.
BNP Paribas
Infineon Technologies AG
IDEX Biometrics ASA
NXP Semiconductors
Goldpac Fintech
Fingerprint Cards AB
IDEX Biometrics ASA
KL HI-TECH
NEC Corporation
Schneider Electric

The detailed segments and sub-segment of the market are explained below:

Card Type:

Credit Cards
Debit Cards

Technology:

Fingerprint Recognition
Iris Recognition
Facial Recognition

End-User:

Retail
Transportation
Healthcare
Hospitality
Government
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
LAMEA
Middle East
Saudi Arabia
South Africa
Rest of Middle East and Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Biometric Payment Card Market Executive Summary

1.1. Global Biometric Payment Card Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Card Type
- 1.3.2. By Technology
- 1.3.3. By End-User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Biometric Payment Card Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Biometric Payment Card Market Dynamics

3.1. Market Drivers
- 3.1.1. Rise in adoption of contactless payment methods
- 3.1.2. Increasing demand for enhanced security in financial transactions
- 3.1.3. Growth in regulatory support and government initiatives
3.2. Market Challenges
- 3.2.1. High cost of biometric payment cards
- 3.2.2. Security & privacy concerns
3.3. Market Opportunities
- 3.3.1. Technological advancements in authentication technology
- 3.3.2. Growth of the e-commerce sector
- 3.3.3. Increased financial inclusion initiatives

Chapter 4. Global Biometric Payment Card Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Biometric Payment Card Market Size & Forecasts by Card Type 2022-2032

5.1. Segment Dashboard
5.2. Global Biometric Payment Card Market: Card Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Credit Cards
- 5.2.2. Debit Cards

Chapter 6. Global Biometric Payment Card Market Size & Forecasts by Technology 2022-2032

6.1. Segment Dashboard
6.2. Global Biometric Payment Card Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Fingerprint Recognition
- 6.2.2. Iris Recognition
- 6.2.3. Facial Recognition

Chapter 7. Global Biometric Payment Card Market Size & Forecasts by End-User 2022-2032

7.1. Segment Dashboard
7.2. Global Biometric Payment Card Market: End-User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Retail
- 7.2.2. Transportation
- 7.2.3. Healthcare
- 7.2.4. Hospitality
- 7.2.5. Government
- 7.2.6. Others

Chapter 8. Global Biometric Payment Card Market Size & Forecasts by Region 2022-2032

8.1. North America Biometric Payment Card Market
- 8.1.1. U.S. Biometric Payment Card Market
  - 8.1.1.1. Card Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Technology breakdown size & forecasts, 2022-2032
  - 8.1.1.3. End-User breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Biometric Payment Card Market
8.2. Europe Biometric Payment Card Market
- 8.2.1. UK Biometric Payment Card Market
- 8.2.2. Germany Biometric Payment Card Market
- 8.2.3. France Biometric Payment Card Market
- 8.2.4. Italy Biometric Payment Card Market
- 8.2.5. Spain Biometric Payment Card Market
- 8.2.6. Rest of Europe Biometric Payment Card Market
8.3. Asia-Pacific Biometric Payment Card Market
- 8.3.1. China Biometric Payment Card Market
- 8.3.2. India Biometric Payment Card Market
- 8.3.3. Japan Biometric Payment Card Market
- 8.3.4. Australia Biometric Payment Card Market
- 8.3.5. South Korea Biometric Payment Card Market
- 8.3.6. Rest of Asia-Pacific Biometric Payment Card Market
8.4. Latin America Biometric Payment Card Market
- 8.4.1. Brazil Biometric Payment Card Market
- 8.4.2. Mexico Biometric Payment Card Market
- 8.4.3. Rest of Latin America Biometric Payment Card Market
8.5. Middle East & Africa Biometric Payment Card Market
- 8.5.1. Saudi Arabia Biometric Payment Card Market
- 8.5.4. South Africa Biometric Payment Card Market
- 8.5.5. Rest of Middle East & Africa Biometric Payment Card Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.2 Company 2
- 9.1.3 Company 3
9.2.Top Market Strategies
9.3. Company Profiles
- 9.3.1. Thales Group
  - 9.3.1.1. Key Information
- 9.3.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Bio-idz
- 9.3.3. Zwipe
- 9.3.4. Mastercard
- 9.3.5. Visa Inc.
- 9.3.6. BNP Paribas
- 9.3.7. Infineon Technologies AG
- 9.3.8. IDEX Biometrics ASA
- 9.3.9. NXP Semiconductors
- 9.3.10. Goldpac Fintech
- 9.3.11. Fingerprint Cards AB
- 9.3.12. IDEX Biometrics ASA
- 9.3.13. KL HI-TECH
- 9.3.14. NEC Corporation
- 9.3.15. Schneider Electric

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes