Biometric Card Market By Technology (Fingerprint Recognition, Facial Recognition, Multi-Modal Recognition), By Functionality (Contact-Based Cards, Contactless Cards, Dual-Interface Cards), By Application (Payment Cards, Identity Cards, Access Control, Government ID Cards, Healthcare ID Cards, Travel & Immigration Cards), By End-Use Industry (BFSI, Government, Healthcare, IT & Telecom, Retail & E-Commerce), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Biometric Card Market was valued at USD 5.5 billion in 2023 and will surpass USD 10.5 billion by 2030; growing at a CAGR of 9.6% during 2024 - 2030.

The biometric card market is rapidly evolving, driven by the increasing demand for secure and convenient identity verification solutions. With the rise in digital transactions, identity theft, and security breaches, biometric cards provide a highly secure alternative to traditional cards by integrating biometric recognition technologies. These cards use unique physical traits such as fingerprints, facial features, or even multi-modal recognition to authenticate users, offering enhanced security and fraud prevention. The market is benefiting from the growing adoption of contactless payment systems, government identification solutions, and healthcare-related applications, where security and user privacy are paramount.

As consumers and businesses continue to prioritize security, biometric cards are emerging as an essential solution for sectors like banking, government services, healthcare, and travel. In addition, the shift towards digitalization and the increasing use of mobile payment systems are contributing to the growth of the biometric card market. Companies are also integrating advanced biometric features into their card offerings to provide a seamless, secure, and user-friendly experience. The market is expected to expand significantly as more industries adopt biometric authentication to enhance security protocols and streamline their operations.

Fingerprint Recognition Is Largest Technology Due to Its Established Reliability

Fingerprint recognition is the largest technology segment within the biometric card market, owing to its established reliability, ease of integration, and cost-effectiveness. As one of the most widely used biometric identification methods, fingerprint recognition offers high accuracy in authentication while being highly user-friendly. It is also less intrusive compared to other biometric technologies, making it a preferred choice for contact-based, contactless, and dual-interface biometric cards.

Fingerprint biometrics have gained significant traction in industries such as banking, healthcare, and government, where secure and reliable identification is critical. The widespread use of fingerprint recognition in smartphones and other devices has also fostered consumer familiarity and acceptance of the technology, making it an ideal fit for biometric cards. Furthermore, advancements in fingerprint sensor technology, including miniaturization and improved accuracy, are expected to drive continued growth in this segment, solidifying fingerprint recognition as the dominant technology in the biometric card market.

Contactless Cards Are Fastest Growing Functionality Driven by Demand for Convenience

Contactless biometric cards are the fastest-growing functionality in the biometric card market, driven by increasing consumer demand for convenience and efficiency in transactions. Contactless cards use radio-frequency identification (RFID) or near-field communication (NFC) technology, allowing users to authenticate their identity with a simple tap or wave, eliminating the need for physical contact or manual entry of personal information.

The popularity of contactless cards has surged, especially in sectors like payment services, transportation, and access control, where speed and convenience are essential. With the rise of contactless payment systems and the growing preference for touchless solutions, particularly in the wake of the COVID-19 pandemic, the demand for contactless biometric cards is expected to continue growing. These cards offer a secure and seamless way for users to conduct transactions, access secure locations, and prove their identity without compromising security, making them an attractive option for both businesses and consumers alike.

Payment Cards Are Largest Application Segment Due to Widespread Use in Financial Transactions

Payment cards are the largest application segment in the biometric card market, driven by the increasing demand for secure and frictionless payment methods. Biometric payment cards offer an added layer of security compared to traditional payment cards by incorporating biometric recognition, such as fingerprint or facial recognition, to authenticate transactions. This enhances protection against fraud, identity theft, and unauthorized access.

The growing popularity of mobile and contactless payments, combined with the global push towards more secure and user-friendly payment systems, is fueling the demand for biometric payment cards. As financial institutions and payment networks adopt biometric solutions to enhance security and streamline the payment process, biometric payment cards are becoming increasingly prevalent worldwide. This segment is expected to remain the largest in the market, especially as consumers and businesses continue to prioritize security and convenience in financial transactions.

BFSI (Banking, Financial Services, and Insurance) Is Leading End-Use Industry Due to Security Concerns

The BFSI (Banking, Financial Services, and Insurance) sector is the largest end-use industry for biometric cards, owing to the heightened need for secure authentication methods in financial transactions. The industry is highly sensitive to fraud and identity theft, and the implementation of biometric cards provides a reliable solution for safeguarding customer data and reducing the risks associated with traditional methods of identification, such as PINs and passwords.

The growing adoption of biometric authentication in banking applications, including payment cards, ATM access, and online banking, is contributing to the dominance of the BFSI sector in the biometric card market. Financial institutions are increasingly investing in biometric technologies to improve customer security, enhance user experience, and comply with regulatory standards for financial transactions. As the need for more secure and efficient financial services continues to grow, the BFSI sector will remain the key driver of the biometric card market.

Europe Leads the Market Due to Advanced Technology Adoption and Regulatory Support

Europe is the largest region in the biometric card market, driven by its strong focus on advanced technology adoption, regulatory support, and high demand for secure identity management solutions. The European Union has implemented strict data protection regulations, such as the General Data Protection Regulation (GDPR), which has significantly increased the need for secure authentication solutions across various sectors, including banking, healthcare, and government.

The region’s progressive approach to digital transformation, alongside the increasing emphasis on security in financial services, is fueling the growth of biometric cards. Moreover, European countries have been early adopters of biometric technologies, which has helped to accelerate the development and deployment of biometric cards. As European financial institutions and government agencies continue to invest in secure and innovative identity solutions, the region is expected to maintain its leadership in the biometric card market.

Competitive Landscape and Leading Companies

The biometric card market is highly competitive, with a mix of established players and innovative startups developing advanced biometric solutions. Leading companies in the market include IDEMIA, Gemalto (now part of Thales Group), HID Global, and Fingerprint Cards AB. These companies are at the forefront of developing biometric card technologies and providing a wide range of biometric authentication solutions for various applications, including payment cards, identity verification, and access control.

The competitive landscape is characterized by ongoing research and development in biometric technologies, with companies focusing on enhancing the accuracy, security, and user experience of their biometric cards. Strategic partnerships, acquisitions, and collaborations with financial institutions, governments, and technology providers are also common as companies strive to expand their market presence and offer integrated solutions. The market is expected to remain dynamic, with innovation and security being the key differentiators for companies looking to capture market share.

Recent Developments:

• In December 2024, IDEMIA launched a new biometric payment card with enhanced fingerprint recognition technology for the BFSI sector.
• In November 2024, Visa partnered with a leading biometric technology firm to introduce contactless biometric cards in Asia-Pacific.
• In October 2024, Zwipe announced a strategic collaboration with a global card manufacturer to expand biometric card deployment in Europe.
• In September 2024, Gemalto N.V. introduced a dual-interface biometric card designed for government ID applications.
• In August 2024, Fingerprint Cards AB launched a next-generation fingerprint sensor optimized for biometric cards with low power consumption.

List of Leading Companies:

• IDEMIA
• Gemalto N.V. (Thales Group)
• HID Global Corporation
• IDEX Biometrics
• Fingerprint Cards AB
• NEXT Biometrics
• Precise Biometrics
• Zwipe AS
• Mastercard Incorporated
• Visa Inc.
• Infineon Technologies AG
• SmartMetric Inc.
• Oberthur Technologies
• CardLogix Corporation
• Safran Identity & Security

Report Scope: