Exploring the industry overview of Biometric ATM
A biometric system identifies biological features in a unique way. Fingerprints, voice waves, iris patterns, and other identifiers are examples of unique identifiers. The biometric technology market is driven by the increased use of biometric technology for improved security in various sectors such as BFSI, airports, vehicles, offices, and others. The biometric ATM market is predicted to develop significantly during the forecast period, as the use of biometric ATMs is increasing due to many benefits, such as reduced transaction time and improved security, which deters crime (internet banking fraud, money laundering, and theft banker’s identification). However, a lack of consumer awareness is projected to stymie industry expansion. Furthermore, rising demand for biometric ATMs in emerging markets like China, Brazil, and India is likely to provide sufficient prospects for market expansion.
The biometric ATM market is segmented by
- product type
It is divided into withdrawals and deposits based on the type of application. Iris recognition, fingerprint biometrics, voice recognition, facial recognition, and others are the different product types. It is divided into four regions: North America, Europe, Asia Pacific, and Latin America and the Caribbean.
SUPREMA, Safran, NEC Corporation, Infineon Technologies, CrossMatch Technologies, Fulcrum Biometrics, Synaptics, Techshino, BioEnable, and Miaxis are the leading players in the biometric ATM market.
Key Market Players
- Nec Corporation
- Infineon Technologies
- Crossmatch Technologies
- Fulcrum Biometrics
- The existing and developing industry trends and dynamics in the worldwide biometric ATM market are thoroughly examined in this study.
- Market estimations for the key market segments between 2016 and 2023 are used to conduct in-depth analysis.
- This study includes a full quantitative analysis of the present market as well as forecasts for the years 2016-2023, which aids in finding market opportunities.
- Within the market framework, extensive market study is undertaken by following key product positioning and monitoring the main rivals.
- A detailed study of all regions is presented, revealing the current potential in these areas.