Global Face-swiping Payment Market Report 2022: Sector to Reach $18.46 Billion by 2030 at a CAGR of 18.9% - ResearchAndMarkets.com

The "Face-swiping Payment Market Size, Share & Trends Analysis Report by Type (Payment Equipment, Payment System), by Application (Retail, Restaurant, Travel), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global face-swiping payment market size is expected to reach USD 18.46 billion by 2030, expanding at a CAGR of 18.9% from 2022 to 2030.

Companies Mentioned

• Popid, Inc.
• Facepay
• Paybyface B.V.
• Visionlabs
• Pax Global Technology Limited
• Alipay
• Nec Corporation
• Snappay Inc.
• Mastercard
• Cloudwalk Technology Co. Ltd

The rise in digitalization led by the COVID-19 pandemic and the increasing penetration of the internet across the globe is anticipated to drive market growth. For instance, according to the Digital 2021, Global Overview Report, almost 4.66 billion people worldwide had access to and used the internet as of January 2021.

Recently, venture capital firms started focusing on tech start-ups, assisting them in raising funds to expand their product portfolios and strengthen their market position. For instance, in December 2020, Nice & Green, a Swiss investment company invested USD 38 million in FacePhi, a facial biometric technology company. The investment was particularly made for the company's expansion and enhancement of the market share.

Face swiping technology enables consumers to make purchases simply by portraying in front of camera-equipped point-of-sale (POS) machines, which results in faster and more secure face payments. Furthermore, the mobile wallet providers such as Alipay and others have extended support for the face swipe feature to enable users to make faster payments. Thus, such ongoing trends are expected to further drive the market growth over the forecast period.

The global pandemic has been favorable to market growth. The growing demand for biometrics for verification, or unlocking mobile phones has made consumers familiar with the use of biometrics which is anticipated to create new growth opportunities for the face-swiping payment industry. For instance, according to the 2021 survey by IDEMA, 84% of the respondents use the biometric authentication method, out of which around 43% of the respondent have used facial biometrics for unlocking smartphones.

Face-swiping Payment Market Report Highlights

• The payment system segment is expected to witness rapid growth over the forecast period. The growth can be attributed to the rising adoption of face-recognition solutions by major companies worldwide
• The travel segment is expected to witness steady growth over the forecast period. The rising demand for AI-enabled payment platforms for fare collection in the various modes of transport such as buses and metros, among others is anticipated to fuel the growth of the segment in the forecast period
• Asia Pacific dominated the industry in 2021. The growing demand for face-enabled payment terminals across the region is expected to propel the regional growth

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Face-swiping Payment Industry Outlook

3.1 Market Segmentation and Scope

3.2 Market Size and Growth Prospects

3.3 Face-swiping Payment Market - Value Chain Analysis

3.4 Face-swiping Payment Market - Market Dynamics

3.4.1 Market driver analysis

3.4.1.1 Rising adoption of contactless payment technologies to improve customer experience

3.4.1.2 Increase in adoption of face recognition technology

3.4.2 Market challenge analysis

3.4.2.1 Data privacy and security concerns

3.5 Penetration and Growth Prospect Mapping

3.6 Face-swiping Payment Market - Porter's Five Forces Analysis

3.7 Face-swiping Payment Market - PESTEL Analysis

Chapter 4 Investment Landscape Analysis

4.1 Investor Strategies

4.2 Investor Vision & Goal Analysis

4.3 Funding Raised by Face Recognition Technology Providers

4.4 Investments Made in Self-Checkout Stores

Chapter 5 Face-swiping Payment Type Outlook

5.1 Face-swiping Payment Market Share By Type, 2021

5.2 Payment Equipment

5.2.1 Face-swiping payment equipment market, 2017 - 2030

5.2.2 POS Equipment

5.2.2.1 Face-swiping payment POS equipment market, 2017 - 2030

5.2.3 Kiosk

5.2.3.1 Face-swiping payment kiosk market, 2017 - 2030

5.3 Payment System

5.3.1 Face-swiping payment system market, 2017 - 2030

Chapter 6 Face-swiping Payment Application Outlook

6.1 Face-swiping Payment Market Share By Application, 2021

6.2 Retail

6.2.1 Face-swiping payment market in retail, 2017 - 2030

6.3 Restaurant

6.3.1 Face-swiping payment market in restaurant, 2017 - 2030

6.4 Travel

6.4.1 Face-swiping payment market in travel, 2017 - 2030

6.5 Others

6.5.1 Face-swiping payment market in others, 2017 - 2030

Chapter 7 Face-swiping Payment Regional Outlook

Chapter 8 Competitive Analysis

8.1 Recent Developments & Impact Analysis, By Key Market Participants

8.2 Company Categorization

8.3 Vendor Landscape

8.3.1 Key company market share analysis, 2021

8.4 Company Analysis Tools

8.4.1 Company market position analysis

8.4.2 Competitive dashboard analysis

Chapter 9 Competitive Landscape

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