TMCnet News
Face-swiping Payment Market to Hit $18.46 Billion by 2030: Grand View Research, Inc.SAN FRANCISCO, Dec. 8, 2022 /PRNewswire/ -- The global face-swiping payment market size is expected to reach USD 18.46 billion by 2030, expanding at a CAGR of 18.9% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The rise in digitalization led by the COVID-19 pandemic and the increasing penetration of the internet across the globe is anticipated to drive market growth. For instance, according to the Digital 2021, Global Overview Report, almost 4.66 billion people worldwide had access to and used the internet as of January 2021.  Key Industry Insights & Findings from the report:
Read 150-page market research report, "Face-swiping Payment Market Size, Share & Trends Analysis Report By Type (Payment Equipment, Payment System), By Application (Retail, Restaurant, Travel), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research. Face-swiping Payment Market Growth & Trends Recently, venture capital firms started focusing on tech start-ups, assisting them in raising funds to expand their product portfolios and strengthen their market position. For instance, in December 2020, Nice & Green, a Swiss investment company invested USD 38 million in FacePhi, a facial biometric technology company. The investment was particularly made for the company's expansion and enhancement of the market share. Face swiping technology enables consumers to make purchases simply by portraying in front of camera-equipped point-of-sale (POS) machines, which results in faster and more secure face payments. Furthermore, the mobile wallet providers such as Alipay and others have extended support for the face swipe feature to enable users to make faster payments. Thus, such ongoing trends are expected to further drive the market growth over the forecast period. The global pandemic has been favorable to market growth. The growing deand for biometrics for verification, or unlocking mobile phones has made consumers familiar with the use of biometrics which is anticipated to create new growth opportunities for the face-swiping payment industry. For instance, according to the 2021 survey by IDEMA, 84% of the respondents use the biometric authentication method, out of which around 43% of the respondent have used facial biometrics for unlocking smartphones. Face-swiping Payment Market Segmentation Grand View Research has segmented the global face-swiping payment market based on type, application, and region: Face-swiping Payment Market - Type Outlook (Revenue, USD Million, 2017 - 2030)
Face-swiping Payment Market - Application Outlook (Revenue, USD Million, 2017 - 2030)
Face-swiping Payment Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in the Face-swiping Payment Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Next Generation Technologies Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
|
View original content: