The North America Biometric ATM Market Size is poised to grow at a market growth rate of 37.4% CAGR during the forecast period (2016 - 2022).
Factors such as technological advancements and increasing number of cash withdrawals, paired with rising security concerns among individuals are the major factors driving the adoption of biometric authentication solution in the ATMs in the North American region. Stealing of card data from the ATMs in the U.S. has reached its highest level in last two decades. According to a credit-scoring and analytics firm, FICO, in 2015, more than 65% of all U.S. debit card holders were cheated while transacting at ATMs. In North America, ATMs are majorly installed at shopping complexes, commercial buildings, and residential societies. Biometric technology is an automated access monitoring system, used for verification and recognition of a manual access.
Banking sector in the U.S. is emerging as one of the key application area of biometric authentication system. Physiological characteristic is the most common used individual characteristic for authenticating the genuine card holder. The North America biometric ATM market is further segmented based on the authentication type into fingerprint, iris recognition, palm recognition, vein recognition, face recognition and voice recognition among others). For better understanding of the market penetration of biometric technology at the ATMs, the North America biometric ATM market is analyzed based on countries including U.S., Canada, Mexico and rest of North America.
The report covers the analysis of key stake holders of the Biometric ATM market. Key companies? profiled in the report includes Siemens AG, Hitachi Ltd., Magal Security Systems, Ltd., Cisco Systems, Inc., Robert Bosch GmbH , Tyco International Plc., Honeywell International, Inc., Panasonic Corporation, Diebold Inc. and Glory ltd.
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