Biometric POS is also referred as biometric point of sale machine which combines biometric technology for personal information confirmation or additional payment behavior. The adoption of this technology in many countries such as China, Japan, and U.S, due to the rapid digitalization in the payment system will drive the global biometric POS terminals market growth.
The increase in the need for security among businesses is considered as key driving factor which is expected to boost the global biometric POS terminals market growth. Furthermore, the increase in fraud in merchant POS terminals will positively influence the market growth during this forecast period. Also, the increase in the number of e-retailers in the market as well as the rise in digitalization of payment which is one of the key driving factors expected to propel the growth of global biometric POS terminals market. Moreover, the rise in demand for improved identification technology which is expected to support the market growth during this forecast timeline.
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One of the major restraints in the biometric POS terminals market is the absence of uniform standards which leads to lack of standardization in biometric POS terminals. It is expected to hamper the market growth. Also, lack of awareness among the enterprises will affect the market growth during this forecast timeline.
The Global Biometric POS Terminals Market is segmented into type such as Fingerprint Recognition, Iris Recognition, Facial Recognition, and Others. Further, market is segmented into end user such as Hospitality, BFSI, Media & Entertainment, Retail, and Others.
Also, the Global Biometric POS Terminals Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Aratek, Ingenico, FUJITSU, Chongqing Huifan Technology Co., Ltd., Telepower Communication Co., Ltd., Mantra Softech (India) Pvt. Ltd., M2SYS Technology, Feigete Intelligent Technology Co., Limited, DERMALOG Identification Systems GmbH, Chongqing Huifan Technology Co., Ltd., etc.
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