Global Biometric PoS Terminals Market 2017-2021
About Biometric PoS Terminals
Biometric POS terminals are POS terminals that have been integrated with the biometric technology. They are mainly used as payment gateways. Biometric data cannot be easily hacked as compared to PINs and passwords. A person's identity can be authenticated using biometric technologies such as fingerprint identification, retina and iris recognition, palm vein identification, facial recognition, and voice recognition.
Technavio’s analysts forecast the global biometric PoS terminals market to grow at a CAGR of 27.81% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global biometric PoS terminals market for 2017-2021. To calculate the market size, the report considers revenue generated from biometric POS, which includes both fixed and portable POS.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biometric PoS Terminals Market 2017-2021
Technavio recognizes the following companies as the key players in the global biometric pos terminals market: Bitel, Biyo, Crossmatch, DERMALOG Identification Systems, EKEMP INTERNATIONAL, Fujitsu, Ingenico Group, M2SYS, PayTango, OT-Morpho, SmartMetric, Sthaler, Verifone, Zvetco Biometrics, and Zwipe.
Other Prominent Vendors in the market are: ACTAtek, Argus TrueID, ePortID, and E&M TECHNOLOGIES.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growth of self-service market. The growth of the self-service market is a trend wherein the biometric POS terminals can be adopted. The self-service market includes retail check out and kiosks. A self-service kiosk is an interactive kiosk that consists of specialized software and hardware computer terminals.”
According to the report, one driver in the market is rise in fraud at merchant POS terminals. The chances of fraud at merchant POS terminals is increasing. Credit and debit card users face issues such as identity theft and financial fraud. Remote hacking of the POS systems by hackers to steal debit and credit card data has resulted in millions of dollars' worth of transactions. Once hackers cross the remote access door, they can use techniques like RAM scraping and keyloggers to obtain all the sensitive information.
Further, the report states that one challenge in the market is absence of uniform standards. Interoperability is the ability of a system to work or operate with other systems without requiring any extra efforts by the user/customer. There is a lack of standardization in biometric POS terminals, which is a major challenge for interoperability. Standardization is needed to ensure interoperability among technologies from multiple vendors.
Bitel, Biyo, Crossmatch, DERMALOG Identification Systems, EKEMP INTERNATIONAL, Fujitsu, Ingenico Group, M2SYS, PayTango, OT-Morpho, SmartMetric, Sthaler, Verifone, Zvetco Biometrics, and Zwipe.Other Prominent Vendors in the market are: ACTAtek, Argus TrueID, ePortID, and E&M TECHNOLOGIES.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook