Dublin, April 28, 2020 (GLOBE NEWSWIRE) -- The "Biometrics for Banking and Financial Services - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.
The Biometrics for Banking and Financial Services market worldwide is projected to grow by US$6.9 Billion, driven by a compounded growth of 15.5%.
Fingerprint, one of the segments analyzed and sized in this study, displays the potential to grow at over 16.2%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$7 Billion by the year 2025, Fingerprint will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 10.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$114.9 Million to the region's size and clout in the next 5 to 6 years. Over US$202.4 Million worth of projected demand in the region will come from Rest of Europe markets.
In Japan, Fingerprint will reach a market size of US$817.4 Million by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 21% over the next couple of years and add approximately US$1.7 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific.
All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others:
- AllTrust Networks
- CashFlows Europe Limited
- Cross Match Technologies Inc.
- Cyber-SIGN Inc.
- Fujitsu Frontech North America Inc.
- Gemalto N.V.
- HID Global
- IDEMIA
- Ingenico S.A.
- Nuance Communications Inc.
- Precise Biometrics AB
- Suprema
- VoiceVault Inc.
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Biometrics: A Growing Solution to Address Financial Fraud and Security Breaches
- Major External & Internal Breaches in Financial Services Sector
- Growing Role of Biometrics
- Financial Services Firms and Banks Actively Pursue Deployment of Biometrics Solutions
- Outlook
- Geographic Market Analysis
- Fingerprint Scan Technology Leads, Vein Recognition Gains Traction
- Application of Biometrics Technology in Financial Services Sector
- Competition
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Banks See More Deployment of Vein Recognition Biometrics
- Multi-modal Biometrics Gain Momentum
- Partnerships: Order of the day for BFIS
- Behavioral Biometrics Witness Growth Amid Digital Transformation of Banking Activities
- Biometrics-enabled Smartphones Transform Mobile Banking Services
- Unreliability and Vulnerability of Traditional Authentication Methods Fuels Adoption of Biometrics Solutions
- Biometrics to Deal with Card-Not-Present (CNP) Fraud
- Banks Focus on Mobile Devices for Convenient and Secure Authentication
- Biometric Payment Cards: Drive Growth
- Growing Prominence of Mobile Banking Spurs Opportunities for Biometrics
- Biometrics-enabled Smartphones Transform Mobile Banking Services
- Biometrics for Enterprise Mobile Banking Apps
- Biometrics Enable Banks to Improve Customer Engagement Levels
- Voice Biometrics Continues to Gain Growth
- Iris Biometrics Poised for Strong Growth
- Facial Recognition Growing in Popularity
- Select Innovations in Biometrics for Banking and Financial Services Sector: A Review
- Identity Verification: A Major Growth Area for Biometrics Use in Banks
- On-Cloud Biometrics Gain Popularity
- Biometrics-based Authentication at ATMs on Rise
- Rise in ATM Installations: Opportunity for Biometrics Technology
- Biometrics Enables Financial Inclusion
- Expanding Social Network Footprint of Financial Organizations: Opportunities for Biometrics Technology
- Access Control: A Potential Application Area
- Biometrics: An Introduction
- Summary of Biometric Recognition Techniques
- Technology that Links Payment Accounts to Users' Biometrics Directly
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 48 (including Divisions/Subsidiaries - 51)
For more information about this report visit https://www.researchandmarkets.com/r/aso43v
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.