The Global Face-swiping Payment Market is Predict to reach $11.9 Billion by 2028, at a CAGR of 17.4%

Published Date: 30-Nov-2022

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Face-swiping Payment Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Face-swiping Payment Market size is expected to reach $11.9 billion by 2028, rising at a market growth of 17.4% CAGR during the forecast period.

The Payment System segment is showcasing a CAGR of 19.1% during (2022 - 2028). It is due to the increasing deployment of payment systems equipped with biometric sensors for face recognition at point-of-sale terminals, allowing consumers to make payments via face-swiping, which is driving the segment's rise. Moreover, these systems may be developed using smart contracts on a specific blockchain deployment, therefore securing and streamlining payments.

The Retail segment is leading the Global Face-swiping Payment Market by Application in 2021 thereby, achieving a market value of $4.1 billion by 2028. The majority of market participants worldwide are using face-swiping payments to simplify operations and improve the consumer experience. For instance, the X5 group announced the launch of a facial recognition payment service in March 2021. The service is now offered by 52 Perekrestok grocery chains and will be expanded to 150 stores over the next few years.

The Asia Pacific market dominated the Global Face-swiping Payment Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.9 billion by 2028. The Europe market is exhibiting a CAGR of 16.8% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 16.6% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/face-swiping-payment-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ant Group (Alipay) (Alibaba Holding), NEC Corporation, Mastercard, Inc., PopID, Inc. (Cali Group), PayByFace B.V., VisionLabs (Mobile TeleSystems OJSC), SnapPay, Inc., CloudWalk Technology Co. Ltd., and PAX Global Technology Limited.

Global Face-swiping Payment Market Segmentation

By Type

  • Payment Equipment
    • POS Equipment
    • Kiosk
  • Payment System

By Application

  • Retail
  • Restaurant
  • Travel
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • Ant Group (Alipay) (Alibaba Holding)
  • NEC Corporation
  • Mastercard, Inc.
  • PopID, Inc. (Cali Group)
  • PayByFace B.V.
  • VisionLabs (Mobile TeleSystems OJSC)
  • SnapPay, Inc.
  • CloudWalk Technology Co. Ltd.
  • PAX Global Technology Limited

Unique Offerings from KBV Research

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Related Reports:

North America Face-swiping Payment Market size & Opportunities 2022-2028

Europe Face-swiping Payment Market & Growth Forecast 2022-2028

Asia Pacific Face-swiping Payment Market Share & Industry Outlook to 2028

LAMEA Face-swiping Payment Market Growth, Trends & Forecasts 2022-2028

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