What is Biometric ATM?
Biometric ATM is a self-service cash machine that uses a biometric measure to identify customers and allow them to withdraw cash. These ATMs use biometric measures include palm or finger vein print biometrics although they may also include other functionalities such as iris recognition or face recognition. These machines allow customers to withdraw currency or conduct other transactions after a successful fingerprint or finger vein scan. Banks in Japan have widely deployed biometric-enabled ATMs. There are currently more than 80,000 biometric-enabled ATMs in Japan and over 15 million customers are using them.
The market study is broken down, by Application (Deposits and Withdrawals) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global Biometric ATM market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hitachi-Omron Terminal Solutions, Corp. (Japan), NEC Corporation (Japan), BioEnable Technologies Pvt. Ltd. (India), Siemens AG (Germany), Honeywell International.Inc. (United States), Panasonic Corporation (Japan), Magal Security Systems.Ltd. (Israel), Cisco Systems, Inc. (United States), Robert Bosch GmbH (Germany) and Tyco International Plc. (Ireland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Diebold Nixdorf (United States).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Biometric ATM market by Type, Application and Region.
On the basis of geography, the market of Biometric ATM has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Fingerprint Recognition will boost the Biometric ATM market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Forensic Voice Analysis will boost the Biometric ATM market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware (FIngerprint Reader, Sensors, Touchpads and Others) will boost the Biometric ATM market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Increasing Implementation of Advanced Technologies
Market Drivers
- Increased Incidences of ATM Hacks
- High Demand for Advanced Security ATMs
Opportunities
- Growing Demand from Developing Countries
- Rising Demand from End-users
Restraints
- Lack of Awareness among Consumers
Challenges
Key Target Audience
Biometric ATM Manufacturers, Raw Material Suppliers, Distributors and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.