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The Europe Biometric ATM Market Size would grow at a growth rate of 42.7% CAGR during the forecast period (2016 - 2022).
Government regulations regarding the securing of client data, paired with an increasing rate of ATM thefts are the major factors driving the banking sector to implement biometric authentication solutions at the ATM's. According to the European ATM Security Team, ATM-related fraud incidents increased to 8,421 in the first half of 2015, compared to 7,345 incidents in 2014, an increase of 15%.
Biometric technology is an automated access monitoring system, used authenticate manual access. Europe is one of the fast-growing markets adopting biometric in the banking sector including ATM's. Physiological and behavioral characteristics are the individual characteristics used for verifying the identity of a person. The Europe biometric ATM market is further segmented based on the authentication type into a fingerprint, iris recognition, palm recognition, vein recognition, face recognition and voice recognition among others.
For a better understanding of the market penetration of biometric technology at the ATMs, the market is analyzed based on countries including Russia, Germany, U.K., France, Spain, Italy and Rest of Europe. The report covers the analysis of key stake holders of the Biometric ATM market. Key companies profiled in the report include Siemens AG, Hitachi Ltd., Honeywell International, Inc., Panasonic Corporation, Magal Security Systems, Ltd., Cisco Systems, Inc., Robert Bosch GmbH, Tyco International Plc., Diebold Inc. and Glory ltd.