PUBLISHER: KBV Research | PRODUCT CODE: 1373670
PUBLISHER: KBV Research | PRODUCT CODE: 1373670
North America Biometric Banking Market Size, Share & Industry Trends Analysis Report By Type (Fingerprint, Facial Recognition, Hand Geometry, Iris Recognition and Others), By Vertical, By Component, By Country and Growth Forecast, 2023 - 2030
The North America Biometric Banking Market would witness market growth of 15.8% CAGR during the forecast period (2023-2030).
The rapid adoption of artificial intelligence (AI) and machine learning (ML) presents a significant opportunity for the market. Algorithms that utilize machine learning aid to adapt to user behavior, thereby enhancing accuracy and efficiency. In addition, advancements in biometric sensors and algorithms increase the precision and dependability of biometric authentication. However, security concerns and high implementation costs are significant obstacles to the market's expansion. Integrating biometric solutions into existing banking infrastructure is complex and requires substantial investment.
Biometric banking provides customers enhanced security and convenience during login, transactions, and account access. In addition, the widespread utilization of smartphones equipped with biometric sensors, like fingerprint scanners and facial recognition cameras, has facilitated biometrics. As users become accustomed to using biometrics to activate devices and receive biometric authentication tokens for financial services, they will become more comfortable with the technology. Additionally, financial companies and banks are adopting novel security technologies consistent with regulatory guidelines, secure, cost-effective, and contributing to increased consumer satisfaction. Biometric authentication addresses consumers' three most important needs: convenience, efficiency, and security. It eliminates the need to memorize passwords or PINs, thereby maximizing comfort. A simple biometric scan is sufficient to prove an individual's identity, which is significantly more secure than tapping a card.
North American banks and financial institutions are increasingly interested in biometric technologies to enhance security and convenience for their customers. Biometric authentication methods, such as fingerprint, facial, and voice recognition, are being explored for various banking applications. Some banks in North America are experimenting with biometric authentication at ATMs. Customers can use their fingerprints or palm prints to access ATM services, making it more secure and convenient than traditional PIN-based systems.
The US market dominated the North America Biometric Banking Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,028.1 Million by 2030. The Canada market is exhibiting a CAGR of 18.4% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 17.4% during (2023 - 2030).
Based on Type, the market is segmented into Fingerprint, Facial Recognition, Hand Geometry, Iris Recognition and Others. Based on Vertical, the market is segmented into Retail, Transportation, Hospitality, Government, Healthcare and Others. Based on Component, the market is segmented into Hardware, Software and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, NEC Corporation, Apple, Inc., The Charles Schwab Corporation, Mastercard Inc., Barclays Plc, Visa Inc., PayPal Holdings, Inc., Samsung Electronics Co. Ltd. and Aliph Brands.
Scope of the Study
Market Segments covered in the Report:
By Type
- Fingerprint
- Facial Recognition
- Hand Geometry
- Iris Recognition
- Others
By Vertical
- Retail
- Transportation
- Hospitality
- Government
- Healthcare
- Others
By Component
- Hardware
- Software
- Services
By Country
- US
- Canada
- Mexico
- Rest of North America
Companies Profiled
- Google LLC
- NEC Corporation
- Apple, Inc.
- The Charles Schwab Corporation
- Mastercard Inc.
- Barclays Plc
- Visa Inc.
- PayPal Holdings, Inc.
- Samsung Electronics Co. Ltd.
- Aliph Brands
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Biometric Banking Market, by Type
- 1.4.2 North America Biometric Banking Market, by Vertical
- 1.4.3 North America Biometric Banking Market, by Component
- 1.4.4 North America Biometric Banking Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scnerio
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2020, Jul - 2023, Jun) Leading Players
- 4.4 Porter's Five Forces Analysis
Chapter 5. North America Biometric Banking Market, by Type
- 5.1 North America Fingerprint Market, by Country
- 5.2 North America Facial Recognition Market, by Country
- 5.3 North America Hand Geometry Market, by Country
- 5.4 North America Iris Recognition Market, by Country
- 5.5 North America Others Market, by Country
Chapter 6. North America Biometric Banking Market, by Vertical
- 6.1 North America Retail Market, by Country
- 6.2 North America Transportation Market, by Country
- 6.3 North America Hospitality Market, by Country
- 6.4 North America Government Market, by Country
- 6.5 North America Healthcare Market, by Country
- 6.6 North America Others Market, by Country
Chapter 7. North America Biometric Banking Market, by Component
- 7.1 North America Hardware Market, by Country
- 7.2 North America Software Market, by Country
- 7.3 North America Services Market, by Country
Chapter 8. North America Biometric Banking Market, by Country
- 8.1 US Biometric Banking Market
- 8.1.1 US Biometric Banking Market, by Type
- 8.1.2 US Biometric Banking Market, by Vertical
- 8.1.3 US Biometric Banking Market, by Component
- 8.2 Canada Biometric Banking Market
- 8.2.1 Canada Biometric Banking Market, by Type
- 8.2.2 Canada Biometric Banking Market, by Vertical
- 8.2.3 Canada Biometric Banking Market, by Component
- 8.3 Mexico Biometric Banking Market
- 8.3.1 Mexico Biometric Banking Market, by Type
- 8.3.2 Mexico Biometric Banking Market, by Vertical
- 8.3.3 Mexico Biometric Banking Market, by Component
- 8.4 Rest of North America Biometric Banking Market
- 8.4.1 Rest of North America Biometric Banking Market, by Type
- 8.4.2 Rest of North America Biometric Banking Market, by Vertical
- 8.4.3 Rest of North America Biometric Banking Market, by Component
Chapter 9. Company Profiles
- 9.1 Google, LLC (Kaggle Inc.)
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.5.2 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 NEC Corporation
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 SWOT Analysis
- 9.3 Apple Inc.
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Regional Analysis
- 9.3.4 Research & Development Expenses
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.6 SWOT Analysis
- 9.4 Alibaba Cloud (Alibaba Group Holding Limited)
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Regional Analysis
- 9.4.4 Recent strategies and developments:
- 9.4.4.1 Partnerships, Collaborations, and Agreements:
- 9.4.5 SWOT Analysis
- 9.5 Mastercard, Inc.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Regional Analysis
- 9.5.4 Recent strategies and developments:
- 9.5.4.1 Partnerships, Collaborations, and Agreements:
- 9.5.4.2 Product Launches and Product Expansions:
- 9.5.5 SWOT Analysis
- 9.6 Barclays PLC
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Recent strategies and developments:
- 9.6.4.1 Product Launches and Product Expansions:
- 9.6.5 SWOT Analysis
- 9.7 Visa, Inc.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Recent strategies and developments:
- 9.7.3.1 Partnerships, Collaborations, and Agreements:
- 9.7.4 SWOT Analysis
- 9.8 PayPal Holdings, Inc.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Product Launches and Product Expansions:
- 9.8.5.2 Acquisition and Mergers:
- 9.8.6 SWOT Analysis
- 9.9 Samsung Electronics Co., Ltd. (Samsung Group)
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Recent strategies and developments:
- 9.9.4.1 Product Launches and Product Expansions:
- 9.9.5 SWOT Analysis
- 9.10. Aliph Brands LLC (JawBone)
- 9.10.1 Company Overview
- 9.10.2 SWOT Analysis
LIST OF TABLES
- TABLE 1 North America Biometric Banking Market, 2019 - 2022, USD Million
- TABLE 2 North America Biometric Banking Market, 2023 - 2030, USD Million
- TABLE 3 Partnerships, Collaborations and Agreements- Biometric Banking Market
- TABLE 4 Product Launches And Product Expansions- Biometric Banking Market
- TABLE 5 Acquisition and Mergers- Biometric Banking Market
- TABLE 6 North America Biometric Banking Market, by Type, 2019 - 2022, USD Million
- TABLE 7 North America Biometric Banking Market, by Type, 2023 - 2030, USD Million
- TABLE 8 North America Fingerprint Market, by Country, 2019 - 2022, USD Million
- TABLE 9 North America Fingerprint Market, by Country, 2023 - 2030, USD Million
- TABLE 10 North America Facial Recognition Market, by Country, 2019 - 2022, USD Million
- TABLE 11 North America Facial Recognition Market, by Country, 2023 - 2030, USD Million
- TABLE 12 North America Hand Geometry Market, by Country, 2019 - 2022, USD Million
- TABLE 13 North America Hand Geometry Market, by Country, 2023 - 2030, USD Million
- TABLE 14 North America Iris Recognition Market, by Country, 2019 - 2022, USD Million
- TABLE 15 North America Iris Recognition Market, by Country, 2023 - 2030, USD Million
- TABLE 16 North America Others Market, by Country, 2019 - 2022, USD Million
- TABLE 17 North America Others Market, by Country, 2023 - 2030, USD Million
- TABLE 18 North America Biometric Banking Market, by Vertical, 2019 - 2022, USD Million
- TABLE 19 North America Biometric Banking Market, by Vertical, 2023 - 2030, USD Million
- TABLE 20 North America Retail Market, by Country, 2019 - 2022, USD Million
- TABLE 21 North America Retail Market, by Country, 2023 - 2030, USD Million
- TABLE 22 North America Transportation Market, by Country, 2019 - 2022, USD Million
- TABLE 23 North America Transportation Market, by Country, 2023 - 2030, USD Million
- TABLE 24 North America Hospitality Market, by Country, 2019 - 2022, USD Million
- TABLE 25 North America Hospitality Market, by Country, 2023 - 2030, USD Million
- TABLE 26 North America Government Market, by Country, 2019 - 2022, USD Million
- TABLE 27 North America Government Market, by Country, 2023 - 2030, USD Million
- TABLE 28 North America Healthcare Market, by Country, 2019 - 2022, USD Million
- TABLE 29 North America Healthcare Market, by Country, 2023 - 2030, USD Million
- TABLE 30 North America Others Market, by Country, 2019 - 2022, USD Million
- TABLE 31 North America Others Market, by Country, 2023 - 2030, USD Million
- TABLE 32 North America Biometric Banking Market, by Component, 2019 - 2022, USD Million
- TABLE 33 North America Biometric Banking Market, by Component, 2023 - 2030, USD Million
- TABLE 34 North America Hardware Market, by Country, 2019 - 2022, USD Million
- TABLE 35 North America Hardware Market, by Country, 2023 - 2030, USD Million
- TABLE 36 North America Software Market, by Country, 2019 - 2022, USD Million
- TABLE 37 North America Software Market, by Country, 2023 - 2030, USD Million
- TABLE 38 North America Services Market, by Country, 2019 - 2022, USD Million
- TABLE 39 North America Services Market, by Country, 2023 - 2030, USD Million
- TABLE 40 North America Biometric Banking Market, by Country, 2019 - 2022, USD Million
- TABLE 41 North America Biometric Banking Market, by Country, 2023 - 2030, USD Million
- TABLE 42 US Biometric Banking Market, 2019 - 2022, USD Million
- TABLE 43 US Biometric Banking Market, 2023 - 2030, USD Million
- TABLE 44 US Biometric Banking Market, by Type, 2019 - 2022, USD Million
- TABLE 45 US Biometric Banking Market, by Type, 2023 - 2030, USD Million
- TABLE 46 US Biometric Banking Market, by Vertical, 2019 - 2022, USD Million
- TABLE 47 US Biometric Banking Market, by Vertical, 2023 - 2030, USD Million
- TABLE 48 US Biometric Banking Market, by Component, 2019 - 2022, USD Million
- TABLE 49 US Biometric Banking Market, by Component, 2023 - 2030, USD Million
- TABLE 50 Canada Biometric Banking Market, 2019 - 2022, USD Million
- TABLE 51 Canada Biometric Banking Market, 2023 - 2030, USD Million
- TABLE 52 Canada Biometric Banking Market, by Type, 2019 - 2022, USD Million
- TABLE 53 Canada Biometric Banking Market, by Type, 2023 - 2030, USD Million
- TABLE 54 Canada Biometric Banking Market, by Vertical, 2019 - 2022, USD Million
- TABLE 55 Canada Biometric Banking Market, by Vertical, 2023 - 2030, USD Million
- TABLE 56 Canada Biometric Banking Market, by Component, 2019 - 2022, USD Million
- TABLE 57 Canada Biometric Banking Market, by Component, 2023 - 2030, USD Million
- TABLE 58 Mexico Biometric Banking Market, 2019 - 2022, USD Million
- TABLE 59 Mexico Biometric Banking Market, 2023 - 2030, USD Million
- TABLE 60 Mexico Biometric Banking Market, by Type, 2019 - 2022, USD Million
- TABLE 61 Mexico Biometric Banking Market, by Type, 2023 - 2030, USD Million
- TABLE 62 Mexico Biometric Banking Market, by Vertical, 2019 - 2022, USD Million
- TABLE 63 Mexico Biometric Banking Market, by Vertical, 2023 - 2030, USD Million
- TABLE 64 Mexico Biometric Banking Market, by Component, 2019 - 2022, USD Million
- TABLE 65 Mexico Biometric Banking Market, by Component, 2023 - 2030, USD Million
- TABLE 66 Rest of North America Biometric Banking Market, 2019 - 2022, USD Million
- TABLE 67 Rest of North America Biometric Banking Market, 2023 - 2030, USD Million
- TABLE 68 Rest of North America Biometric Banking Market, by Type, 2019 - 2022, USD Million
- TABLE 69 Rest of North America Biometric Banking Market, by Type, 2023 - 2030, USD Million
- TABLE 70 Rest of North America Biometric Banking Market, by Vertical, 2019 - 2022, USD Million
- TABLE 71 Rest of North America Biometric Banking Market, by Vertical, 2023 - 2030, USD Million
- TABLE 72 Rest of North America Biometric Banking Market, by Component, 2019 - 2022, USD Million
- TABLE 73 Rest of North America Biometric Banking Market, by Component, 2023 - 2030, USD Million
- TABLE 74 Key Information - Google, LLc
- TABLE 75 KEY INFORMATION - NEC Corporation
- TABLE 76 Key Information - Apple Inc.
- TABLE 77 Key Information - Alibaba Cloud
- TABLE 78 Key Information - Mastercard, Inc.
- TABLE 79 Key Information - Barclays PLC
- TABLE 80 Key Information - Visa, Inc.
- TABLE 81 Key Information - PayPal Holdings, Inc.
- TABLE 82 Key Information - Samsung Electronics Co., Ltd.
- TABLE 83 Key Information - Aliph Brands LLC
