Biometric POS Terminals Market to grow by USD 5.29 billion growth between 2023 - 2028; Growth Driven by demand for biometric POS terminals from end-users - Technavio

NEW YORK, Dec. 11, 2023 /PRNewswire/ -- The Biometric POS Terminals Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the biometric POS terminals market between 2023 and 2028 is USD 5.29 billion. Growth in demand for biometric POS terminals from end-users drives market growth. The growing credit and debit card transactions among consumers encourage retailers and other end-users to adopt biometric POS terminals. To cater to this increasing trend, small-sized retailers in various developing countries, such as China and India, are also adopting POS terminals for secure and convenient payments. Furthermore, various end-users are beginning to demand a wide variety of payment solutions, POS terminal providers will be focusing on meeting their needs to retain existing customers and attract new ones. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• Market Challenge - The absence of uniform standards challenges market growth. In order to ensure interoperability among technologies from multiple biometric POS terminal market players, there is a need for standardization. It also simplifies the integration process and allows biometric point-of-sales terminal market players to easily upgrade to new technologies with minimal change in their existing infrastructure. Additionally, various biometric technologies, such as fingerprint identification and palm vein identification, have different technical specifications, however, the blueprint is the same. Learn about additional key drivers, trends, and challenges available with Technavio. Read a Sample PDF Report Now

The biometric POS terminals market is categorized based on End-user (Retail, Medical and healthcare, Restaurant, Financial, and Others), Technology (Fingerprint identification, Palm vein identification, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The retail segment will be major for the market growth during the forecast period. This segment of the market refers to the use of biometric POS terminals in retail outlets, such as grocery stores, department stores, and specialty stores. Some of the major advantages of this segment include increased efficiency in transaction processing, the ability to track inventory and sales data, and the ability to offer a variety of payment options to customers.
• North America will contribute 35% to the growth of the global market during the forecast period. View a FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the biometric POS terminals market:

Aratek Biometric, BIYO LLC, CiVinTec Global Co. Ltd., DERMALOG Identification Systems GmbH, EKEMP Intl Ltd., ePortation Inc., Fujitsu Ltd., HID Global Corp., IDEMIA France SAS, Ingenico, International Secure Environments PTY LTD., M2SYS, Mantra Softech India Pvt. Ltd., PayTango Inc., SmartMetric Inc., Sthaler Ltd., Telepower Communication Co. Ltd., VeriFone Inc., Zvetco LLC, Zwipe AS

Related Reports:

The EMV Point Of Sale (POS) Terminals Market size is estimated to grow at a CAGR of 10.22% between between 2023 and 2028. The market size is forecast to increase by USD 6.41 billion.

The India point-of-sale (POS) terminal market size is estimated to grow at a CAGR of 11.59% between 2022 and 2027. The market size is forecast to increase by USD 1,812.57 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Technology

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio