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Biometrics for Banking and Financial Services Market Trends

  • Report ID: 3797
  • Published Date: Sep 19, 2024
  • Report Format: PDF, PPT

Biometrics for Banking and Financial Services Market Trends

Growth Drivers

  • Growing Need to Offer Protection Against Identity Theft and Fraudulent Transactions
  • Inability of Traditional Security Systems to Provide High Security

Challenges

  • Growing Complexity of Online Threats

Biometrics for Banking and Financial Services Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

11.3%

Base Year Market Size (2023)

USD 6.04 billion

Forecast Year Market Size (2036)

USD 24.29 billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Abhishek Verma


  • Report ID: 3797
  • Published Date: Sep 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving market growth are growing need to offer protection against identity theft and fraudulent transactions, and inability of traditional security systems to provide high security.

The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022 – 2030.

Asia Pacific will provide more business opportunities for market growth owing to the increasing emphasis of BFSI companies to offer highest security to customer transactions through the use of biometrics in the region.

The major players in the market are Gemalto N.V., Cyber-SIGN, Inc., Fujitsu Frontech North America, Inc., Ingenico Group SA, and others.
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