Biometric Cards Market Size, Share, Revenue, Trends And Drivers For 2024-2033

Biometric Cards Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 18, 2024 /EINPresswire.com/ -- The biometric cards market has experienced robust growth in recent years, expanding from $11.09 billion in 2023 to $13.03 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to rising security needs, rising fraud concerns, regulatory compliance, increasing consumer convenience, and an increasing number of smartphone users.

What Is The Estimated Market Size Of The Global Biometric Cards Market And Its Annual Growth Rate?
The biometric cards market is projected to continue its strong growth, reaching $24.94 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to increasing cybersecurity threats, growing contactless payment systems, increasing demand for multifactor authentication, increasing demand for secure and reliable identification solutions, and rising demand for high-security applications.

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Growth Driver Of The Biometric Cards Market
The growing contactless payment systems are expected to propel the growth of the biometric card market going forward. A contactless payment system is a secure way for customers to buy items or services with a debit, credit, or smart card that uses radio frequency identification (RFID) technology or near-field communication (NFC). The widespread adoption of smartphones and the use of digital wallets have significantly boosted contactless payments. These biometric cards are particularly appealing in retail environments where reducing transaction time can improve operational efficiency and customer satisfaction? Biometric cards in contactless payments enhance security with fingerprint authentication, reduce fraud, and attract customers and businesses while maintaining the speed of contactless payments.

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Which Market Players Are Driving the Biometric Cards Market Growth?
Key players in the biometric cards market include Samsung Semiconductor, Visa Inc., Mastercard, Thales Group, STMicroelectronics NV, IDEMIA Group, JCB Co. Ltd., KONA I Co. Ltd., FEITIAN Technologies Co. Ltd., Fingerprint Cards AB, Matica Technologies Group SA, Seshaasai Business Forms Private Limited, Precise Biometrics, Zwipe, NEXT Biometrics, Versasec AB, Ethernom, CardLogix Corporation, SmartMetric Inc., IDEX Biometrics.

What Are the Emerging Trends Shaping the Biometric Cards Market Overview?
Major companies operating in the biometric card market are focused on developing next-generation solutions, such as fingerprint biometric security, to provide a revolutionary payment experience and improve consumer satisfaction. Fingerprint biometric security is the process of identifying and verifying individuals based on their unique fingerprint patterns, providing high security and convenience.

How Is The Global Biometric Cards Market Segmented?
1) By Type: Contact Biometric Cards, Contactless Biometric Cards
2) By Application: Payments, Access Control, Government Identification Document (ID) And Financial Inclusion, Other Applications
3) By End-User Vertical: Banking, Financial Services, And Insurance (BFSI), Retail, Government, Healthcare, Commercial Entities, Other End-User Verticals

Geographical Insights: North America Leading The Biometric Cards Market
North America was the largest region in the biometric card market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biometric cards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Biometric Cards Market Definition
Biometric cards are advanced smart cards that use biometric technology to verify the cardholder's identity by analyzing unique physiological features such as fingerprints or iris scans. Biometric cards offer a higher level of security, lowering the danger of fraudulent transactions or identity theft.

Biometric Cards Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global biometric cards market report covering trends, opportunities, strategies, and more
The Biometric Cards Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biometric cards market size, biometric cards market drivers and trends, biometric cards market major players, biometric cards competitors' revenues, biometric cards market positioning, and biometric cards market growth across geographies. The biometric cards market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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