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NEW YORK , June 6, 2022 /PRNewswire/ -- The biometric POS terminals market will be driven by factors such as rise in fraud at merchant POS terminals, according to an analyst at Technavio. The high incidence of fraudulent activity is one of the main reasons for the growth of the biometric POS terminals market. Biometric data is difficult to replicate, as it is unique to each individual. This has improved the security of customers' security. With the introduction of merchant EMV POS terminals, counterfeit fraud rates have dropped to nearly 33%.
The biometric POS terminals market size is expected to grow by USD 1.17 billion from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 35.77% during the forecast period.
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Biometric POS Terminals Market: Market Trend
The growth of the self-service market is a trend in the biometric POS terminals market. A self-service kiosk consists of computer terminals with specialized software and hardware. Numerous bill payment kiosks are currently being installed to meet the growing demand for shorter lines at offices and retail stores. Furthermore, with the growth of the self-service market, the demand for secure transactions that are quick and accurate will increase. Thus, the growth of the self-service market will aid the growth of the biometric POS terminals market. Furthermore, card transactions involving smart cards increase transaction security. In addition, the self-service market reduces the costs to the company and adds to the list of benefits that a biometric POS terminal offers.
Biometric POS Terminals Market: Segmentation Analysis
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Biometric POS Terminals Market: Major Vendors
The biometric POS terminals market is fragmented, and the vendors are deploying growth strategies such as strategic alliances to compete in the market. The report offers detailed information on the competencies, capacities, and products offered by major vendors, including BIYO LLC, EKEMP Intl Ltd., Fujitsu Ltd., Ingenico Group SA, M2SYS Technology, SmartMetric Inc., Sthaler Ltd., VeriFone Inc., Zvetco LLC, and Zwipe AS among others.
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Biometric POS Terminals Market Scope
Accelerate at a CAGR of 35.77%
North America, APAC, Europe, South America, and MEA
US, UK, China, Germany, and France
Leading companies, Competitive strategies, Consumer engagement scope
BIYO LLC, EKEMP Intl Ltd., Fujitsu Ltd., Ingenico Group SA, M2SYS Technology, SmartMetric Inc., Sthaler Ltd., VeriFone Inc., Zvetco LLC, and Zwipe AS
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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