The global biometric point of sales (POS) terminals market is expected to grow at a significant CAGR during the forecast period 2021-2027. Biometric technology is a system of identification and authentication that is employed to detect the behavioral and physical changes of any user. Point of sales terminals is an electronic, hardware-based system deployed in any retail or other location to process card payments. Biometric in point of sales (PoS) allows the consumer to scan their finger on a biometric finger reader instead of a user ID or other gadgets to log into the retail POS. This, in turn, is driving the adoption of biometric POS terminals that ensures security and protection from any intentional and accidental threat to the company.
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The rising adoption of biometric POS terminals in various end-user segments including government, businesses, public sector, and restaurants among others with the growing incidents of threats and frauds in these sectors. To track and monitor the activities of an employee and outsiders with real-time access, an implementation rate of biometric POS terminals is rapidly increasing at a significant rate that allows authorities and companies to ensure security during the payments. Additionally, the growing instances of cyber-attacks and data breaches is also leveraging the demand for biometric POS terminals.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Product Type
o By End-User
- Competitive Landscape- Bitel Corp., Fujitsu Ltd., Biyo LLC, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Biometric Point of Sales Terminals Market Segment
By Product Type
- Fingerprint Identification
- Palm-Vein Identification
- Facial Recognition
- Iris Recognition
- Retina Recognition
- Voice Recognition
By End-User
- Restaurant
- Retail
- Logistics
- Medical and Healthcare
- Financial
- Others
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