Biometric POS Terminals Market by Technology and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR45317

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The biometric POS terminals market has the potential to grow by USD 1.17 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 35.77%.

This biometric POS terminals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (fingerprint identification, palm vein identification, and others) and geography (North America, Europe, APAC, MEA, and South America). The biometric POS terminals market report also offers information on several market vendors, including BIYO LLC, EKEMP Intl Ltd., Fujitsu Ltd., Ingenico Group SA, M2SYS Technology, SmartMetric Inc., Sthaler Ltd., VeriFone Inc., Zvetco LLC, and Zwipe AS among others.

What will the Biometric POS Terminals Market Size be in 2021?

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Biometric POS Terminals Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rise in fraud at merchant POS terminals is notably driving the biometric POS terminals market growth, although factors such as the absence of uniform standards may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the biometric POS terminals industry get your FREE report sample now.

  • The rising fraud in merchant POS terminals is one of the major factors driving market growth.
  • Debit and credit card users face issues and huge losses due to identity theft and financial fraud.
  • Remote hacking of the POS terminals has resulted in the loss of millions of dollars worth of transactions. All the sensitive information can be easily obtained using techniques such as RAM scraping and keyloggers.
  • The individuality feature of biometrics makes it impossible to replicate, consequently, enhancing the security of the transaction.
  • The fraud rates can be reduced even further on the integration of biometrics with the EMV (Europay, MasterCard, and Visa) terminals.
  • The increased use of biometric POS terminals in restaurants, one of the key biometric POS terminals market trends, will drive market growth. 
  • The implementation of biometric POS reduces the time taken by the patrons to complete the transaction as it is a quick and efficient method of conducting the transaction.
  • Vendors in this market have developed a system that enables the customers to link their fingerprints to their credit cards using these biometric POS systems, which consequently reduces the chances of credit card theft and fraud.
  • Using a biometric POS system in a restaurant prevents employees from sharing access, makes it easy to track their activities, and facilitates a quicker self-checkout system. 

This biometric POS terminals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Biometric POS Terminals Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BIYO LLC
  • EKEMP Intl Ltd.
  • Fujitsu Ltd.
  • Ingenico Group SA
  • M2SYS Technology
  • SmartMetric Inc.
  • Sthaler Ltd.
  • VeriFone Inc.
  • Zvetco LLC
  • Zwipe AS

 

The biometric POS terminals market is fragmented and the vendors are deploying growth strategies such as strategic alliances to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the biometric POS terminals market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Biometric POS Terminals Market?

Biometric-POS-Terminals-Market-Market-Share-by-Region-2020-2025

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35% of the market’s growth will originate from North America during the forecast period. The US is a key market for biometric POS terminals in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The increasing instances of data breaches and cyberattacks will facilitate the biometric POS terminals market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Technology Segments in the Biometric POS Terminals Market?

Biometric-POS-Terminals-Market-Market-Share-by-Technology-2020-2025

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The biometric POS terminals market share growth by the fingerprint identification segment will be significant during the forecast period. The declining average selling price (ASP) of the technology and its easy installation and use will drive the fingerprint identification biometric technology during the forecast period. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the biometric POS terminals market size.

 

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What are the Key Factors Covered in this Biometric POS Terminals Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive biometric POS terminals market growth during the next five years
  • Precise estimation of the biometric POS terminals market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the biometric POS terminals industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of biometric POS terminals market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The biometric pos terminals market growth will increase by $855.56 million during 2019-2024.
The biometric pos terminals market is expected to grow at a CAGR of 32.42% during 2019-2024.
Technavio has segmented the biometric pos terminals market by technology (Fingerprint identification, Palm vein identification, and Others) and geographic (North America, Europe, APAC, MEA, and South America).
BIYO LLC, EKEMP Intl Ltd., Fujitsu Ltd., Ingenico Group SA, M2SYS Technology, SmartMetric Inc., Sthaler Ltd., VeriFone Inc., Zvetco LLC, Zwipe AS are a few of the key vendors in the biometric pos terminals market.
North America will register the highest growth rate of 34.90% among the other regions. Therefore, the biometric pos terminals market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the biometric pos terminals market growth are:
  • Rise in fraud at merchant POS terminals
  • Growth of self-service market
The biometric pos terminals market vendors should focus on grabbing business opportunities from the fingerprint identification segment as it accounted for the largest market share in the base year.

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