Biometric Payment Card Market Share and Growth (2021-2031)
The Biometric Payment Card Market is expected to register a CAGR of 117.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Biometric Payment Card Market Report is categorized based on the type of card(Credit Card, Debit Card) and end Use (Retail, Transportation, Healthcare, Hospitality, Government, Others) The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Biometric Payment Card Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Biometric Payment Card Market Segmentation
Card Type- Credit Card
- Debit Card
- Retail
- Transportation
- Healthcare
- Hospitality
- Government
- Others
Strategic Insights
Biometric Payment Card Market Growth Drivers- Advancements in Biometric Technology: Improvements in biometric recognition technology in the form of better sensors, accuracy, and, above all, integration into payment systems are forcing adoption of biometric payment cards.
- Government regulations about security of payment: The regulatory bodies of the world are forcing more and more to adopt better security protocols; all such measures, for instance, exist under the PSD2, or the Revised Payment Services Directive within the European Union that encourage the use of biometric authentication for greater security in transactions.
- Consumer Demand for Convenience and Speed: Biometric payment cards offer seamless and contactless payment solutions that align with consumer preferences for speed and convenience. With fingerprint-based authentication, users can simply touch the card to authorize payments, offering a frictionless experience that enhances adoption.
- Increasing integration of contactless payment systems: Biometric payment cards would gain more as contactless payments continue experiencing adoption since it is easy to integrate biometric authentication to the contactless payment systems.
- Growth in Emerging Markets: As access to banking and financial services in emerging economies has grown, biometric payment cards are expected to increase growth in Asia-Pacific and Africa.
- Increased Focus on Privacy and Data Protection: As consumers become more concerned with privacy, biometric payment cards are being designed with advanced encryption methods to ensure that biometric data is stored securely and does not leave the card itself. This trend is essential to alleviate concerns about data breaches and unauthorized access.
- Expansion in digital and mobile payment systems: As digital and mobile payments become more prevalent, it offers a new growth avenue through the inclusion of biometric cards in those lines of payments.
- E-commerce growth and online banking: E-commerce and a shift to online banking and electronic payment require higher security, and the application will be trending towards a biometric authentication.
- Partnerships with Financial Institutions and Tech Companies: Collaborations between card issuers, financial institutions, and technology providers (e.g., biometric sensor companies) present significant growth opportunities. Strategic partnerships can accelerate the development, production, and distribution of biometric payment cards to a global customer base.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Biometric Payment Card Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Biometric Payment Card Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 117.1% during 2023–2031.
The driving factors of the market are security issues, rise in online payments, and the development of biometrics.
Future trends will involve mobile payments integration, increased adoption in the emerging markets, and to a greater degree support of regulation of secure payments.
The major players of this market are bio-idz, Ethernom, IDEX Biometrics ASA, Infineon Technologies AG, Mastercard, NXP Semiconductors, Thales Group, Visa Inc., Wisecard, Zwipe,
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Biometric Payment Card Market - By Card Type
1.3.2 Biometric Payment Card Market - By End Use
1.3.3 Biometric Payment Card Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BIOMETRIC PAYMENT CARD MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. BIOMETRIC PAYMENT CARD MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BIOMETRIC PAYMENT CARD MARKET - GLOBAL MARKET ANALYSIS
6.1. BIOMETRIC PAYMENT CARD - GLOBAL MARKET OVERVIEW
6.2. BIOMETRIC PAYMENT CARD - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIOMETRIC PAYMENT CARD MARKET - REVENUE AND FORECASTS TO 2028 - CARD TYPE
7.1. OVERVIEW
7.2. CARD TYPE MARKET FORECASTS AND ANALYSIS
7.3. CREDIT CARD
7.3.1. Overview
7.3.2. Credit Card Market Forecast and Analysis
7.4. DEBIT CARD
7.4.1. Overview
7.4.2. Debit Card Market Forecast and Analysis
8. BIOMETRIC PAYMENT CARD MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8.1. OVERVIEW
8.2. END USE MARKET FORECASTS AND ANALYSIS
8.3. RETAIL
8.3.1. Overview
8.3.2. Retail Market Forecast and Analysis
8.4. TRANSPORTATION
8.4.1. Overview
8.4.2. Transportation Market Forecast and Analysis
8.5. HEALTHCARE
8.5.1. Overview
8.5.2. Healthcare Market Forecast and Analysis
8.6. HOSPITALITY
8.6.1. Overview
8.6.2. Hospitality Market Forecast and Analysis
8.7. GOVERNMENT
8.7.1. Overview
8.7.2. Government Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. BIOMETRIC PAYMENT CARD MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Biometric Payment Card Market Overview
9.1.2 North America Biometric Payment Card Market Forecasts and Analysis
9.1.3 North America Biometric Payment Card Market Forecasts and Analysis - By Card Type
9.1.4 North America Biometric Payment Card Market Forecasts and Analysis - By End Use
9.1.5 North America Biometric Payment Card Market Forecasts and Analysis - By Countries
9.1.5.1 United States Biometric Payment Card Market
9.1.5.1.1 United States Biometric Payment Card Market by Card Type
9.1.5.1.2 United States Biometric Payment Card Market by End Use
9.1.5.2 Canada Biometric Payment Card Market
9.1.5.2.1 Canada Biometric Payment Card Market by Card Type
9.1.5.2.2 Canada Biometric Payment Card Market by End Use
9.1.5.3 Mexico Biometric Payment Card Market
9.1.5.3.1 Mexico Biometric Payment Card Market by Card Type
9.1.5.3.2 Mexico Biometric Payment Card Market by End Use
9.2. EUROPE
9.2.1 Europe Biometric Payment Card Market Overview
9.2.2 Europe Biometric Payment Card Market Forecasts and Analysis
9.2.3 Europe Biometric Payment Card Market Forecasts and Analysis - By Card Type
9.2.4 Europe Biometric Payment Card Market Forecasts and Analysis - By End Use
9.2.5 Europe Biometric Payment Card Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Biometric Payment Card Market
9.2.5.1.1 Germany Biometric Payment Card Market by Card Type
9.2.5.1.2 Germany Biometric Payment Card Market by End Use
9.2.5.2 France Biometric Payment Card Market
9.2.5.2.1 France Biometric Payment Card Market by Card Type
9.2.5.2.2 France Biometric Payment Card Market by End Use
9.2.5.3 Italy Biometric Payment Card Market
9.2.5.3.1 Italy Biometric Payment Card Market by Card Type
9.2.5.3.2 Italy Biometric Payment Card Market by End Use
9.2.5.4 United Kingdom Biometric Payment Card Market
9.2.5.4.1 United Kingdom Biometric Payment Card Market by Card Type
9.2.5.4.2 United Kingdom Biometric Payment Card Market by End Use
9.2.5.5 Russia Biometric Payment Card Market
9.2.5.5.1 Russia Biometric Payment Card Market by Card Type
9.2.5.5.2 Russia Biometric Payment Card Market by End Use
9.2.5.6 Rest of Europe Biometric Payment Card Market
9.2.5.6.1 Rest of Europe Biometric Payment Card Market by Card Type
9.2.5.6.2 Rest of Europe Biometric Payment Card Market by End Use
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Biometric Payment Card Market Overview
9.3.2 Asia-Pacific Biometric Payment Card Market Forecasts and Analysis
9.3.3 Asia-Pacific Biometric Payment Card Market Forecasts and Analysis - By Card Type
9.3.4 Asia-Pacific Biometric Payment Card Market Forecasts and Analysis - By End Use
9.3.5 Asia-Pacific Biometric Payment Card Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Biometric Payment Card Market
9.3.5.1.1 Australia Biometric Payment Card Market by Card Type
9.3.5.1.2 Australia Biometric Payment Card Market by End Use
9.3.5.2 China Biometric Payment Card Market
9.3.5.2.1 China Biometric Payment Card Market by Card Type
9.3.5.2.2 China Biometric Payment Card Market by End Use
9.3.5.3 India Biometric Payment Card Market
9.3.5.3.1 India Biometric Payment Card Market by Card Type
9.3.5.3.2 India Biometric Payment Card Market by End Use
9.3.5.4 Japan Biometric Payment Card Market
9.3.5.4.1 Japan Biometric Payment Card Market by Card Type
9.3.5.4.2 Japan Biometric Payment Card Market by End Use
9.3.5.5 South Korea Biometric Payment Card Market
9.3.5.5.1 South Korea Biometric Payment Card Market by Card Type
9.3.5.5.2 South Korea Biometric Payment Card Market by End Use
9.3.5.6 Rest of Asia-Pacific Biometric Payment Card Market
9.3.5.6.1 Rest of Asia-Pacific Biometric Payment Card Market by Card Type
9.3.5.6.2 Rest of Asia-Pacific Biometric Payment Card Market by End Use
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Biometric Payment Card Market Overview
9.4.2 Middle East and Africa Biometric Payment Card Market Forecasts and Analysis
9.4.3 Middle East and Africa Biometric Payment Card Market Forecasts and Analysis - By Card Type
9.4.4 Middle East and Africa Biometric Payment Card Market Forecasts and Analysis - By End Use
9.4.5 Middle East and Africa Biometric Payment Card Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Biometric Payment Card Market
9.4.5.1.1 South Africa Biometric Payment Card Market by Card Type
9.4.5.1.2 South Africa Biometric Payment Card Market by End Use
9.4.5.2 Saudi Arabia Biometric Payment Card Market
9.4.5.2.1 Saudi Arabia Biometric Payment Card Market by Card Type
9.4.5.2.2 Saudi Arabia Biometric Payment Card Market by End Use
9.4.5.3 U.A.E Biometric Payment Card Market
9.4.5.3.1 U.A.E Biometric Payment Card Market by Card Type
9.4.5.3.2 U.A.E Biometric Payment Card Market by End Use
9.4.5.4 Rest of Middle East and Africa Biometric Payment Card Market
9.4.5.4.1 Rest of Middle East and Africa Biometric Payment Card Market by Card Type
9.4.5.4.2 Rest of Middle East and Africa Biometric Payment Card Market by End Use
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Biometric Payment Card Market Overview
9.5.2 South and Central America Biometric Payment Card Market Forecasts and Analysis
9.5.3 South and Central America Biometric Payment Card Market Forecasts and Analysis - By Card Type
9.5.4 South and Central America Biometric Payment Card Market Forecasts and Analysis - By End Use
9.5.5 South and Central America Biometric Payment Card Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Biometric Payment Card Market
9.5.5.1.1 Brazil Biometric Payment Card Market by Card Type
9.5.5.1.2 Brazil Biometric Payment Card Market by End Use
9.5.5.2 Argentina Biometric Payment Card Market
9.5.5.2.1 Argentina Biometric Payment Card Market by Card Type
9.5.5.2.2 Argentina Biometric Payment Card Market by End Use
9.5.5.3 Rest of South and Central America Biometric Payment Card Market
9.5.5.3.1 Rest of South and Central America Biometric Payment Card Market by Card Type
9.5.5.3.2 Rest of South and Central America Biometric Payment Card Market by End Use
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BIOMETRIC PAYMENT CARD MARKET, KEY COMPANY PROFILES
11.1. BIO-IDZ
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ETHERNOM
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. IDEX BIOMETRICS ASA
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. INFINEON TECHNOLOGIES AG
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MASTERCARD
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NXP SEMICONDUCTORS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. THALES GROUP
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. VISA INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. WISECARD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZWIPE
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.bio-idz
2.Ethernom
3.IDEX Biometrics ASA
4.Infineon Technologies AG
5.Mastercard
6.NXP Semiconductors
7.Thales Group
8.Visa Inc.
9.Wisecard
10.Zwipe
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For