The analysts forecast global biometric POS terminals market to grow at a CAGR of 26.94% during the period 2016-2020.
Biometrics refers to the identification and authentication of an individual based on their biological and behavioral characteristics. Biometrics include the authentication of an individual by evaluating one or more unique biological traits like fingerprint identification, palm-vein identification, facial recognition, iris recognition, retina identification, and voice recognition.
Biometric technology is widely preferred among enterprises and educational institutions for payment at POS terminals over traditional authentication methods involving passwords and personal identification numbers (PINs). This is because biometrics is difficult to replicate unlike passwords and PINs, which can be easily hacked. Biometric POS terminals, integrated with biometrics technology, are primarily used as a payment solution. However, biometric POS terminals are used to track employee time and attendance as well. With technological advances in hardware and sensors, a number of biometric technologies, such as keystroke and electroencephalogram (EEG), have been developed for the identification of individuals. These biometrics are mainly used by government authorities for identity verification.Covered in this report
This report covers the present scenario and the growth prospects of the global biometrics POS terminals market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of biometric POS terminals, which include both fixed POS and portable POS.
The market is divided into the following segments based on geography:
The report, Global Biometrics POS Terminals Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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- DERMALOG Identification Systems
- Safran Morpho
- Rise in fraud at merchant POS terminals
- Lack of standardization
- Adoption of biometric POS terminals in restaurants
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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