Biometric cards are a secure and reliable method of processing contactless payments. These cards contain embedded biometrics, typically fingerprints that authorize contactless transactions without the need for a PIN. These cards are used in many industries, including retail business, health care and transportation. They have the potential to replace password authentication.
Biometric cards use fingerprint identification to verify customer identity. A biometric card can store up to four encrypted fingerprints on the card. The cardholder simply places his or her finger on a sensor in a participating store. The sensor then compares the fingerprint with the reference data stored on the card. The green light indicates a successful match, and the red light indicates a fail.
Increasing consumer demands for convenience and security in data transactions will drive the growth of the biometric cards market. Moreover, increasing consumer demands for convenience and security in data transactions will also drive the growth of the biometric cards market.
However, card-based payment systems and increasing internet transactions pose obstacles, which is expected to restrain growth of the global biometric card market during the forecast period. However, a number of market vendors are working to incorporate biometric technology into their products. Despite the challenges, biometric cards are expected to be the way of the future in this fast-paced region.
Key features of the study:
- This report provides in-depth analysis of the global biometric card market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global biometric card market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Shanghai Fudan Microelectronics Group Co. Ltd., Zwipe AS, Samsung’s System LSI Business, Thales Group, Ethernom Inc., IDEX Biometrics ASA, Visa Inc., Goldpac Fintech, Mastercard Incorporated, Fingerprint Cards AB, ST Microelectronics NV, Seshaasai Business Forms (P) Ltd., and IDEMIA Group.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global biometric card market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biometric card market
- Global Biometric Card Market, By Application
- Access Control
- Government ID and Financial Inclusion
- Other Applications (IoT-based applications, etc.)
- Global Biometric Card Market, By End-User Vertical
- Commercial Entities
- Other End-user Verticals
- Global Biometric Card Market, By Geography
- North America
- Asia pacific
- Rest of the World
- Company Profiles:
- Zwipe AS
- Thales Group
- IDEX Biometrics ASA
- Goldpac Fintech
- Fingerprint Cards AB
- Seshaasai Business Forms (P) Ltd
- IDEMIA Group
- ST Microelectronics NV
- Mastercard Incorporated
- Visa Inc.
- Ethernom Inc.
- Samsung’s System LSI Business
- Shanghai Fudan Microelectronics Group Co. Ltd.