Press release
Biometric Payment Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Biometric Payment Market Outlook
The biometric payment market has also grown considerably in recent years. It is anticipated to increase from $42.86 billion in 2024 to $46.61 billion in 2025, with a CAGR of 8.7%. The factors behind this growth include enhanced security measures, fraud prevention strategies, improved financial inclusion, rising cybersecurity concerns, consumer preference for convenience, increasing adoption of biometric wearables, and supportive government initiatives.
The biometric payment market is expected to grow to $66.74 billion by 2029 with a CAGR of 9.4%. The growth is driven by the rise of e-commerce, contactless payments, widespread smartphone use, and enhanced data privacy. Major trends include biometric payment cards, multi-modal biometrics, continuous authentication, voice and speech recognition, and cross-channel authentication technologies.
What Are the Primary Growth Drivers for the Biometric Payment Market?
The growing need for secure payment solutions is anticipated to drive the expansion of the biometric payment market in the future. Secure payment solutions encompass technologies, methods, and processes that ensure the safety, integrity, confidentiality, and protection of sensitive financial information during electronic payment transactions. As the demand for secure payment solutions rises, biometric payment methods are gaining popularity, meeting evolving security demands while balancing security and user convenience in the current payment landscape. For example, in January 2024, the European Central Bank reported that contactless card payments in the first half of 2023 increased by 24.3% compared to the same period in 2022, with the total value rising by 25.9% to €0.5 trillion (545.27 billion). This growing demand for secure payment solutions is set to drive the biometric payment market's growth.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12870&type=smp
Who Are the Dominant Companies Influencing Biometric Payment Market Trends?
Major companies operating in the biometric payment market are Apple Inc., Alphabet Inc., Samsung Electronics Co Ltd., Alibaba Group Holding Limited, Fingerprint Cards AB, Tencent b-bldings Limited, Fujitsu Ltd., Visa Inc., Paypal Holdings, NEC Corporation, Mastercard Incorporated, Safran S.A., Thales Group, NXP Semiconductors N.V., ASSA ABLOY Group, Ant Group, Gemalto, PagSeguro Digital Ltd., IDEMIA, Cielo SA, Verifone Systems. Inc., StoneCo Ltd., Linxens Holding SAS, Network International Holdings plc., KONA I Co Ltd., Suprema Inc., Payconiq International SA, Mada Communications Int'l, Precise Biometrics, CardLab Inc.
How Is the Biometric Payment Market Evolving?
In the biometric payments market, companies are launching new biometric checkout systems to enhance payment security and convenience. Mastercard Inc., a US-based credit card company, introduced its Biometric Checkout Program in May 2022, enabling merchants to accept payments via facial recognition and fingerprint scanning.
What Are the Different Segmentations in the Biometric Payment Market?
The biometric payment market covered in this report is segmented -
1) By Type: Contact-Based, Contactless, Hybrid
2) By Component: Hardware, Software, Services
3) By Technology: Single Factor Authentication, Fingerprint Recognition, Iris Recognition, Palm Recognition, Face Recognition, Signature Recognition, Voice Recognition, Biometric Smart Card, Multimodal
4) By Mode Of Payment: Smartphone And Tablet, Biometric And Smart Cards, Other Modes
5) By Application: Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Travel And Hospitality, Transportation, Healthcare, Other Applications
Subsegments:
1) By Contact-Based: Fingerprint Recognition, Palm Recognition, Iris Recognition, Facial Recognition
2) By Contactless: Fingerprint Recognition, Facial Recognition, Voice Recognition, Iris Recognition
3) By Hybrid: Multi-Modal Biometric Systems, Biometric Payment Cards, Device-Based Biometric Payments
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/biometric-payment-global-market-report
Which Region Is at the Forefront of the Biometric Payment Market?
North America was the largest region in the biometric payment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in biometric payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Biometric Payment Global Market Report?
- Market Size Analysis: Analyze the Biometric Payment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Biometric Payment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Biometric Payment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Biometric Payment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12870
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Biometric Payment Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share here
News-ID: 3848737 • Views: …
More Releases from The Business Research Company
Dactinomycin Market on Path to Hit $7.64 Billion by 2029 at 2.5% CAGR
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Dactinomycin Market Outlook: What Size And CAGR Are Anticipated By 2025?
The steady expansion of the dactinomycin market size is observable in recent years. Projections show an increase from $6.76 billion in 2024 to $6.91 billion in 2025, with a compound annual growth rate (CAGR) standing at 2.1%. Factors that…
Future of Alkyd Resin Market: Size, Share & Forecasts to 2029
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What Is the Projected Market Size Valuation of the Alkyd Resin Market by 2025?
The alkyd resin industry has seen impressive growth in the past few years. The market size, which stood at $24.87 billion in 2024, is forecasted to expand to $26.41 billion in 2025, marking a compound annual growth…
Water Resistant Paint Market Size to Reach $4.62 Billion by 2029 | Growth at 5% …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Water Resistant Paint Industry?
In recent years, the market size for water-resistant paint has seen consistent growth. Its value is estimated to increase from $3.62 billion in 2024 to $3.79 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.6%. This…
Tempera Paint Industry Set to Achieve $6.99 Billion Milestone by 2029 | Steady 7 …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Tempera Paint Market Size 2025?
In recent times, the tempera paint market has experienced robust growth. Its size is projected to expand from $4.83 billion in 2024 to $5.19 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.5%. Factors contributing to…
More Releases for Biometric
Global Biometric Service Market Size by Application, Type, and Geography: Foreca …
According to Market Research Intellect, the global Biometric Service market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The biometric service market is witnessing rapid growth, fueled by increasing demand for advanced security solutions across various…
Prominent Biometric Cards Market Trend for 2025: Revolutionizing Payment Securit …
What market dynamics are playing a key role in accelerating the growth of the biometric cards market?
The burgeoning expansion of contactless payment systems is anticipated to spur the development of the biometric card market in the future. Contactless payment systems provide a secure means for consumers to purchase goods or services using their debit, credit, or smart cards by exploiting radio frequency identification (RFID) technology or near-field communication (NFC). The…
Prominent Biometric Sensor Market Trend for 2025: Pioneering Product Innovation …
Which drivers are expected to have the greatest impact on the over the biometric sensor market's growth?
The spike in identity theft incidents is predicted to bolster the expansion of the biometric sensor market. Identity theft involves the stolen personal data such as social security numbers, bank account or credit card details. Biometric techniques address all critical aspects of authentication, non-repudiation, confidentiality, and integrity, contributing substantially to curbing and extinguishing identity…
Key Biometric Cards Market Trend for 2025-2034: Revolutionizing Payment Security …
What Is the Future Outlook for the Biometric Cards Market's Size and Growth Rate?
In recent times, the size of the biometric cards market has expanded swiftly. Its growth is anticipated to soar from $13.03 billion in 2024 to reach $15.36 billion in 2025, with a compound annual growth rate (CAGR) of 17.9%. The surging growth during the historical span can be credited to enhanced security requirements, escalating concerns regarding fraud,…
Biometric Workforce Management Market Will Hit Big Revenues In Future | IDEMIA, …
Advance Market Analytics added research publication document on Worldwide Biometric Workforce Management Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Worldwide Biometric Workforce Management market. The study provides valuable market size data for historical (Volume** & Value) from 2019 to 2022 which is estimated and forecasted till…
Biometric ATM Market Growing Penetration and Adoption of Voice Biometric Solutio …
The global biometric ATM market size is expected to be valued at US$ 1,960.5 million in 2022 and grow at a CAGR of 30.3% over the forecast period. Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with…
