+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Biometrics for Banking and Financial Services - Global Strategic Business Report

  • PDF Icon

    Report

  • 320 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2785221
Description Jump to:
The global market for Biometrics for Banking and Financial Services is estimated at US$5.9 Billion in 2023 and is projected to reach US$15.2 Billion by 2030, growing at a CAGR of 12.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Fingerprint Biometrics segment, which is expected to reach US$9.4 Billion by 2030 with a CAGR of 13.3%. The Face Biometrics segment is also set to grow at 11.2% CAGR over the next 8 years.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $1.2 Billion in 2023, and China, forecasted to grow at an impressive 16.4% CAGR to reach $3.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Biometrics for Banking and Financial Services Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Biometrics for Banking and Financial Services Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Biometrics for Banking and Financial Services Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Fujitsu Ltd., Bioenable Technologies Pvt., Ltd., Fujitsu Frontech Ltd., and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 63 Featured):

  • Fujitsu Ltd.
  • Bioenable Technologies Pvt., Ltd.
  • Fujitsu Frontech Ltd.
  • Cognitec Systems GmbH
  • ASSA ABLOY AB
  • Daon, Inc.
  • 4G Identity Solutions Pvt., Ltd.
  • BIO-key International, Inc.
  • Dermalog Identification Systems GmbH
  • Fulcrum Biometrics LLC
  • BioID AG
  • Aware, Inc.
  • Facephi Biometria SA
  • Bayometric
  • Fingo

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Biometrics for Banking and Financial Services - Global Key Competitors Percentage Market Share in 2023 (E)
  • An Introduction to Biometrics Technology
  • Types of Biometrics Technologies
  • Biometrics: A Growing Solution to Address Financial Fraud and Security Breaches
  • Growing Role of Biometrics in Banking and Financial Institutions
  • Global Biometrics Market Breakdown of Revenues by End-Use (in %): 2023
  • Global Biometrics Market Breakdown of Revenues by Technology (in %): 2023
  • Application of Biometrics Technology in Financial Services Sector
  • Global Market Prospects & Outlook
  • Fingerprint Scan Technology Leads, Vein Recognition Gains Traction
  • Developing Economies Spearhead Adoption of Biometrics in BFSI Industry
  • Competition
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Digitization of Banking Services and Need for Stricter Identification Protocols to Prevent Security Breaches Drives Market
  • Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions
  • Biometric Technology Vs Conventional ID Authentication Methods
  • Biometrics Enable Banks to Improve Customer Engagement Levels
  • Growing Adoption of Mobile Banking Spurs Opportunities for Biometrics
  • Global Online Banking Market Size (in US$ Billion) for the Years 2019, 2021, 2023 and 2025
  • Increasing Availability of Biometrics-Enabled Smartphones Transforms Mobile Banking Services
  • Smartphone Penetration Rate as Share of Total Population: 2016-2023
  • Global Penetration Rate (In %) of Fingerprint Sensor in Smartphones
  • Expanding Social Network Footprint of Financial Organizations: Opportunities for Biometrics Technology
  • Biometric Payment Cards Propel Biometrics Adoption in BFSI Sector
  • Biometrics Technology Facilitates Financial Inclusion of Unbanked Population
  • Global Breakdown of Unbanked Adult Population (in %) by Country
  • Global Breakdown of Unbanked Adult Population (in %) by Gender
  • Top Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being Unbanked
  • Biometrics-based Authentication at ATMs on the Rise
  • Worldwide Installed Base of ATMs in Millions for the Years 2015, 2017, 2019, 2021, 2023, and 2025
  • Future Financial Transactions to be Password-less, Contact-less and Friction-less
  • Amidst Digital Transformation of Banking Operations, Behavioral Biometrics Witnesses Growth
  • Keystroke Dynamics Authentication Overcomes Challenges Related to Conventional Authentication Methods
  • Multi-Modal Biometrics Gain Momentum
  • Biometric Multi-Factor Authentication: Providing Greater Security to Transactions
  • Digital Onboarding Initiatives of Banks Present Favorable Outlook for Biometrics Technologies
  • Voice Biometrics Continues to Gain Growth
  • Contactless Iris Biometrics Technology Poised for Strong Growth
  • Facial Recognition Growing in Popularity
  • Banks See More Deployment of Vein Recognition Biometrics
  • Dual Biometrics Finds Acceptance among Banks
  • Identity Verification: A Major Growth Area for Biometrics Use in Banks
  • Access Control: A Potential Application Area
  • Fintech Banking Addresses Drawbacks of Conventional Banking
  • On-Cloud Biometrics Gain Popularity
  • Innovations in Biometrics for Banking and Financial Services Sector: A Review
  • Select Innovations in Banking Biometrics Space
  • Partnerships: Order of the day for BFSI
  • Regulatory Mandates Promote Adoption Biometrics Technology in Banking Sector
  • Challenges Facing Banks in Implementing Biometric Security Systems
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Biometrics for Banking and Financial Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 3: World 15-Year Perspective for Biometrics for Banking and Financial Services by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2015, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Fingerprint by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Fingerprint by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 6: World 15-Year Perspective for Fingerprint by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Face by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Face by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 9: World 15-Year Perspective for Face by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 12: World 15-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2024 & 2030
  • Table 13: World Biometrics for Banking and Financial Services Market Analysis of Annual Sales in US$ Thousand for Years 2015 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Biometrics Technology Finds Favor in BFSI Sector
  • US Biometrics Technology Market by End-Use (In %): 2023
  • Table 14: USA Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 15: USA Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 16: USA 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
CANADA
  • Table 17: Canada Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 18: Canada Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 19: Canada 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
JAPAN
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Market Overview
  • Table 20: Japan Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 21: Japan Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 22: Japan 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
CHINA
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Market Overview
  • Finger-Vein Authentication Offers Additional Security to Chinese ATMs
  • Table 23: China Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 24: China Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 25: China 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
EUROPE
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Table 26: Europe Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 27: Europe Historic Review for Biometrics for Banking and Financial Services by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 28: Europe 15-Year Perspective for Biometrics for Banking and Financial Services by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2015, 2024 & 2030
  • Table 29: Europe Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 30: Europe Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 31: Europe 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
FRANCE
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • Table 32: France Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 33: France Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 34: France 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
GERMANY
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Table 35: Germany Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 36: Germany Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 37: Germany 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
ITALY
  • Table 38: Italy Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 39: Italy Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 40: Italy 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
UNITED KINGDOM
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Growing Popularity of Biometrics in Banking Operations
  • Table 41: UK Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 42: UK Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 43: UK 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
REST OF EUROPE
  • Table 44: Rest of Europe Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 45: Rest of Europe Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 46: Rest of Europe 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
ASIA-PACIFIC
  • Biometrics for Banking and Financial Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Australia
  • India
  • Growth of Biometrics in Banking Industry
  • UIDAI: Ambitious Biometrics Project and Opportunities for Financial Services
  • Singapore
  • Table 47: Asia-Pacific Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 48: Asia-Pacific Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 49: Asia-Pacific 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
REST OF WORLD
  • Latin America
  • Santander Mexico Starts Registering Biometric Data of Customers to Secure Bank Transactions
  • Neon Introduces a New Banking Approach, Facial Biometric for Authentication in Brazil
  • Table 50: Rest of World Recent Past, Current & Future Analysis for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 51: Rest of World Historic Review for Biometrics for Banking and Financial Services by Type - Fingerprint, Face and Other Types Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2022 and % CAGR
  • Table 52: Rest of World 15-Year Perspective for Biometrics for Banking and Financial Services by Type - Percentage Breakdown of Value Revenues for Fingerprint, Face and Other Types for the Years 2015, 2024 & 2030
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Fujitsu Ltd.
  • Bioenable Technologies Pvt., Ltd.
  • Fujitsu Frontech Ltd.
  • Cognitec Systems GmbH
  • ASSA ABLOY AB
  • Daon, Inc.
  • 4G Identity Solutions Pvt., Ltd.
  • BIO-key International, Inc.
  • Dermalog Identification Systems GmbH
  • Fulcrum Biometrics LLC
  • BioID AG
  • Aware, Inc.
  • Facephi Biometria SA
  • Bayometric
  • Fingo

Table Information

Report AttributeDetails
No. of Pages320
PublishedMarch 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 5.9 Billion
Forecasted Market Value ( USD ) by 2030 $ 15.2 Billion
Compound Annual Growth Rate12.6%
Regions CoveredGlobal

Related Topics

Related Reports

Biometrics - Global Strategic Business Report - Product Image

Biometrics - Global Strategic Business Report

  • Report
  • 872 Pages
  • Global
From
Technology Landscape, Trends and Opportunities in the Biometric Market - Product Image

Technology Landscape, Trends and Opportunities in the Biometric Market

  • Report
  • Global
From
Global 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 Regional Outlook and Forecast, 2023 - 2030 - Product Image

Global 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 Regional Outlook and Forecast, 2023 - 2030

  • Report
  • 281 Pages
  • Global
From
Global Biometrics for Banking & Financial Services Market by Product Type (Face Biometrics, Fingerprint Biometrics, Hand Vein Biometrics), Function (Customer Authentication, Customer Onboarding), Application - Forecast 2024-2030 - Product Image

Global Biometrics for Banking & Financial Services Market by Product Type (Face Biometrics, Fingerprint Biometrics, Hand Vein Biometrics), Function (Customer Authentication, Customer Onboarding), Application - Forecast 2024-2030

  • Report
  • 194 Pages
  • Global
From
Global Biometric Sensor Market - Forecasts from 2024 to 2029 - Product Image

Global Biometric Sensor Market - Forecasts from 2024 to 2029

  • Report
  • 124 Pages
  • Global
From
Copyright © 2002-2024 Research and Markets. All Rights Reserved.