Market Overview:

Biometric cards are credit, debit or identity cards integrated with biometric fingerprint or iris scanners. They provide more flexible and secure authentication than traditional cards. The growing importance of identity security and contactless payments is driving demand for biometric cards.

Market key trends:

One of the key trends in the biometric card market is the growing adoption of AI technology. Artificial intelligence is helping improve the accuracy and performance of biometric cards. AI algorithms are being used to extract unique features from fingerprints or iris scans and match them faster for identity verification. AI is also making biometric cards more user-friendly by reducing errors. As identity theft and fraud rises, more organizations are incorporating AI into biometric cards to provide citizens with a highly secure form of identification and digital transactions. This is expected to significantly fuel the growth of AI-based biometric cards market during the forecast period.

Segment Analysis
The biometric card market is segmented by type, technology, and application. The type segment includes contact biometric cards and contactless biometric cards. Contactless biometric cards dominate the market as they provide better security, faster authentication, and are much more convenient to use compared to contact cards.

Key Takeaways

The Global Biometric Card Market Demand  is expected to witness high growth, exhibiting CAGR of 77% over the forecast period, due to increasing demand for advanced authentication and identification solutions for financial transactions and national identification programs.

Regional analysis: Asia Pacific region is expected to grow the fastest in the biometric card market during the forecast period. This is attributed to the large adoption of biometric identification systems in countries like India, China, and others for applications like Aadhaar, eKYC, and digital payments. North America currently dominates the market due to stringent regulations for digital identification and security.

Key players: Key players operating in the biometric card market are Shanghai Fudan Microelectronics Group Co. Ltd., Zwipe AS, Thales Group, Ethernom Inc., IDEX Biometrics ASA, Visa Inc., Goldpac Fintech, Mastercard Incorporated, Fingerprint Cards AB, ST Microelectronics NV, Seshaasai Business Forms (P) Ltd., and IDEMIA Group.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it