Biometric PoS Terminals Market 2022 Future Analysis, Demand by Regions and Opportunities with Challenges 2032

The market for biometric POS terminals is expected to grow substantially in the upcoming years due to the expected rise in demand for convenient and safe payment options. Because biometric payments employ unique individual characteristics like fingerprints or face scans and give a better level of security, they appeal to consumers searching for trustworthy payment choices.

In a variety of sectors, including healthcare, government, and retail, biometrics are gaining traction because of their ability to enhance security, convenience, and operational efficiency. Another factor driving the market’s rise is the presence of self-service kiosks, which allow consumers to conduct transactions independently. Biometric POS terminals can improve convenience and security in these self-service environments by verifying users.

Key Takeaways

• With a stunning 17.8% market share in the biometric POS terminals sector, the United States leads the pack and demonstrates its superiority in implementing cutting-edge payment technologies.
• With a respectable 6.5% market share, Germany is not far behind, demonstrating its dedication to accepting safe and practical payment methods for both businesses and consumers.
• With a respectable 4.3% market share, Australia shows that it is more aware of the benefits of biometric POS terminals in terms of fraud prevention, client authentication, and simplified payment procedures.
• China, the largest consumer market in the world, holds a significant 2.2% market share in the biometric POS terminals industry, demonstrating its rapid adoption of cutting-edge payment technologies to serve its sizable population and hectic retail sector.
• With market shares of 14.5% and 16.5%, respectively, India and the UK both have considerable development potential. Various statistics show how biometric POS terminal adoption is developing in various regions due to heightened security awareness and the demand for frictionless transactions.

Competitive Landscape

There is fierce rivalry in the market for biometric POS terminals, which is fueled by a number of important considerations. One of these factors is the market’s nascent development, which has tremendous room for expansion and draws a large number of participants looking to take advantage of new chances. One of the main factors driving market expansion and escalating provider competition is the rising desire for safe and practical payment options. Furthermore, the cost-effectiveness of the biometric technology used in POS terminals has increased, making it possible for companies of all sizes to enter the market and successfully compete. The market gains from the accessibility of a variety of biometric technologies, giving businesses the freedom to select the best systems for their unique requirements and enhancing the competitive environment.

Ingenico Group

The Ingenico Group is a leader in the world of payment solutions. The business provides a wide selection of biometric POS terminals, such as iris, face, and fingerprint scanners. The strong security and dependability of Ingenico terminals are well known.

Verifone

Verifone is yet another industry pioneer in payment solutions. The business provides a range of biometric POS terminals, including voice recognition, facial recognition, and fingerprint scanners. The terminals from Verifone are renowned for their usability and compatibility with current payment systems.

Zwipe

A Norwegian business that specialises in biometric payment options is called Zwipe. In comparison to conventional fingerprint scanners, the company’s terminals reportedly use a unique fingerprint technology that is more secure. Additionally, Zwipe terminals are renowned for being portable and tiny in size.

OT-Morpho

The French company OT-Morpho is an expert in providing biometric identification systems. The business provides a selection of biometric POS terminals, including iris, face, and fingerprint scanners. The terminals made by OT-Morpho are renowned for their exceptional performance and accuracy.

Key Developments

• Growing Adoption and need: The need for biometric POS terminals is being fueled by the broad adoption of biometrics across industries, which is being fueled by the advantages of increased security, convenience, and efficiency. Businesses are starting to appreciate how valuable these terminals are for delivering safe and straightforward payment experiences, which will enhance acceptance and spur market expansion.

Cost-effectiveness and Technological Advances: The precision and efficiency of biometric POS terminals are continuously increasing thanks to developments in biometric technology like iris scanners, facial recognition, and vein scanners. With the help of these technological advancements and falling prices for biometric terminals, businesses of all sizes can now afford and use them. By increasing the consumer base and promoting wider adoption, the mix of cutting-edge features and affordability is fueling market expansion.

Key players

• Bitel Corporation
• Fujitsu
• Cross Match Technologies Inc.
• Biyo LLC
• EKEMP
• DERMALOG Identification Systems GmbH
• SmartMetric Inc.
• IDEMIA
• Ingenico Group

Key Segments Profiled in the Biometric POS Terminals Market Survey

By Technology:

• Fingerprint Scanner
• Palm Vein Scanner

By End Use:

• Restaurant
• Retail
• Logistics
• Medical and Healthcare
• Financial
• Others

By Region:

• North America
• Latin America
• The Asia Pacific
• Middle East and Africa
• Europe

Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights