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

Description

Global Biometric Payment Card Market is valued at approximately USD 144.25 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 68.8 % over the forecast period 2024-2032. Biometric payment cards, leveraging biometric authentication methods such as fingerprints or facial recognition, are revolutionizing the security and convenience of financial transactions. These cards are particularly beneficial in sectors like finance, government, and corporate security, where mitigating fraud and enhancing user experience are paramount. The advancements in authentication technology, coupled with the rising incidences of data breaches and identity theft, drive the global biometric payment card market growth.

The market is further bolstered by the shift towards contactless payment methods, driven by consumer demand for faster and more convenient transactions. However, the high cost of biometric payment cards and growing security and privacy concerns among businesses pose challenges to market growth. Conversely, the increasing advancement in information and communications technology and the robust growth of the e-commerce sector are expected to offer lucrative opportunities for the expansion of the biometric payment card market during the forecast period.

The rise in contactless payment methods is a major growth driver for the biometric payment card market. The increasing acceptance of contactless payments, propelled by mobile wallets and promotional incentives, underscores the demand for secure and versatile payment methods. Biometric payment cards, equipped with EMV chip technology, tokenization, and biometric authentication, provide enhanced security, boosting consumer confidence in contactless transactions. The growth in regulatory support and government initiatives also positively impacts the market. Governments worldwide are focusing on data protection and privacy regulations, and biometric payment cards help financial institutions comply with these regulations by offering secure payment solutions. Additionally, government initiatives to promote financial inclusion and access to banking services for underserved populations further accelerate the biometric payment card industry.

Key regions considered in the global biometric payment card market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America leads the market in 2023, due to the high adoption rate of contactless payment methods and the presence of numerous firms in the region. The Asia Pacific region is expected to grow rapidly due to the increasing security requirements in the payment industry and a shift towards contactless payments. Also, Asian governments are actively rolling out digital ID programs, making biometric cards a natural fit for citizens seeking convenient and secure digital payment solutions.

Major market players included in this report are:

BNP Paribas
IDEX Biometrics ASA
Bio-idz
Zwipe
Infineon Technologies AG
Mastercard
Thales Group
Visa Inc.
NXP Semiconductors
Goldpac Fintech

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

By Card Type:

Credit Cards
Debit Cards

By Technology:

Fingerprint Recognition
Iris Recognition
Facial Recognition

By End-User:

Retail
Transportation
Healthcare
Hospitality
Government
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

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. Growth in regulatory support and government initiatives
- 3.1.3. Advancements in biometric authentication technologies
3.2. Market Challenges
- 3.2.1. High cost of biometric payment cards
- 3.2.2. Security and privacy concerns
3.3. Market Opportunities
- 3.3.1. Expansion in emerging markets
- 3.3.2. Integration with e-commerce and digital payment platforms
- 3.3.3. Increasing adoption in niche industries

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. U.K. Biometric Payment Card Market
- 8.2.2. Germany Biometric Payment Card Market
- 8.2.3. France Biometric Payment Card Market
- 8.2.4. Spain Biometric Payment Card Market
- 8.2.5. Italy 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
- 8.5.2. South Africa Biometric Payment Card Market
- 8.5.3. Rest of Middle East & Africa Biometric Payment Card Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. BNP Paribas
- 9.1.2. IDEX Biometrics ASA
- 9.1.3. Bio-idz
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. BNP Paribas
  - 9.3.1.1. Key Information
  - 9.3.1.2. 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. IDEX Biometrics ASA
- 9.3.3. Bio-idz
- 9.3.4. Zwipe
- 9.3.5. Infineon Technologies AG
- 9.3.6. Mastercard
- 9.3.7. Thales Group
- 9.3.8. Visa Inc.
- 9.3.9. NXP Semiconductors
- 9.3.10. Goldpac Fintech

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