Biometric ATM Market is predicted to reach USD 46.7 billion at a CAGR of 3.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Biometric ATM Market”

The Biometric ATM Market is estimated to register a CAGR of 3.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Biometric ATM Market— Miaxis, Techshino, Safran, Synaptics, Infineon Technologies, NEC Corporation, Bioenable, Crossmatch Technologies, Fulcrum Biometrics, Suprema.

Market Highlights

The global Biometric ATM Market is accounted to register a CAGR of 3.20% during the forecast period and is estimated to reach USD 46.7 billion by 2032.

The biometric ATM market is poised for substantial growth in the forecast period, driven by a rising adoption rate attributed to various advantages. These include streamlined transaction processes and heightened security measures effectively deterring crimes such as internet banking fraud, money laundering, and theft of banker identifications.

Segment Analysis

The global Biometric ATM Market has been segmented based on the Application, Product, and Component.

Based on the Application, the market is segmented into Withdrawals, and Deposits. The withdrawals segment was attributed to holding the largest market share in 2022.  Biometric authentication offers a streamlined and convenient means for users to access their funds. The use of biometric ATMs for withdrawals eradicates the reliance on traditional methods such as cards and PINs, providing a smoother and more user-friendly transaction experience. The expedited nature of biometric authentication accelerates the overall transaction process by eliminating the necessity for manually entering PINs or passwords. This operational efficiency is especially advantageous for withdrawals, meeting user expectations for a prompt and hassle-free financial interaction.

Based on the product type, the Biometric ATM Market has been segmented into Iris Recognition, Fingerprint Biometrics, Voice Recognition, Facial Recognition, And Others. The fingerprint biometrics segment was expected to hold the largest market share in 2022. Fingerprint biometrics offer a resilient and distinctive identification approach, substantially bolstering security in ATM transactions. The utilization of fingerprints introduces an authentication layer that is challenging to duplicate, thereby diminishing the potential for unauthorized access and fraudulent actions. Fingerprint authentication presents a convenient and user-centric experience, enabling fund access without the reliance on cards or PINs and optimizing the transaction workflow. The straightforward act of placing a fingerprint on a sensor aligns seamlessly with user preferences, emphasizing a frictionless and efficient interaction.

Based on the Components, the Biometric ATM Market has been segmented into Hardware, Software, and Services. The software segment was expected to hold the largest market share in 2022. Continuous advancements in biometric algorithms are driving the expansion of the software segment. These improved algorithms play a pivotal role in elevating the precision and dependability of biometric authentication methods, thereby fortifying the security and efficiency of ATM transactions. The Software segment is of paramount importance for deploying and enhancing security protocols. Given the escalating sophistication of cyber threats, there exists an ongoing demand for robust security software to safeguard biometric data and uphold the integrity of transactions carried out through ATMs.

Regional Analysis

The global Biometric ATM Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Biometric ATM Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Biometric ATM Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Biometric ATM Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Biometric ATM Market was maintained by the North American regional sector. The continuous digital transformation in the banking sector, marked by a transition to digital and self-service channels, is significantly driving the uptake of biometric ATMs. As indicated by a report from Insider Intelligence, a substantial 89% of respondents in the United States acknowledge utilizing mobile banking channels, with 70% citing mobile banking as their primary method for accessing accounts. In response to evolving consumer preferences, financial institutions are strategically incorporating these technologies to elevate customer experience and maintain competitiveness in the market.

Moreover, the Europe market has been persistently growing over the forecast period. Europe underscores a robust commitment to security and regulatory compliance within the financial sector. The incorporation of biometric authentication into ATMs resonates with the region's dedication to facilitating secure and compliant financial transactions. Notably, in 2022, around 46 percent of respondents in North America and Europe indicated the implementation of biometric authentication training tools within their companies, driven by the dual benefits of heightened security and improved user experience. The integration of advanced security measures, such as biometrics, is further propelled by stringent regulations and compliance standards in the region.

The Asia Pacific region has experienced a notable expansion in the fintech sector, with India's fintech segment securing a substantial 14% share of global funding. The acceptance of digital payments infrastructure has risen significantly, growing from 170 million touchpoints to 260 million touchpoints, marking a 53% increase. Within this dynamic fintech landscape, Biometric ATMs, positioned as integral components of technological advancements in finance, are poised to garner adoption from both traditional financial institutions and fintech companies. This collective embrace is expected to play a pivotal role in driving market expansion within the region.

Furthermore, the rest of the world's Biometric ATM Market is divided into the Middle East, Africa, and Latin America. Similar to other regions, there is an ongoing digital transformation in banking services. The shift toward digital and self-service channels drives the adoption of biometric ATMs as part of the broader strategy to modernize financial systems.

Key Findings of the Study

• The global Biometric ATM Market is expected to reach USD 46.7 billion by 2032, at a CAGR of 3.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because the rapid growth of e-commerce and digital transactions in the Asia-Pacific region has increased the demand for secure and convenient payment methods. Biometric ATMs fit into this landscape by providing a secure means for individuals to access and manage their funds.


• Based on application, the withdrawal segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• Miaxis, Techshino, Safran, Synaptics, Infineon Technologies, NEC Corporation, Bioenable, Crossmatch Technologies, Fulcrum Biometrics, Suprema.