Market Overview:
The global face scan payment market is expected to grow at a CAGR of over 20% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for contactless payments and the growing trend of using biometric authentication for payments. In addition, the increasing adoption of smartphones and other mobile devices is also contributing to the growth of this market. The global face scan payment market can be segmented on the basis of type, application, and region. On the basis of type, this market can be segmented into payment equipment and payment system. The payment equipment segment includes scanners/readers, cameras, software etc., while the payment system segment includes point-of-sale (POS) terminals, kiosks etc. On the basis of application, this market can be divided into restaurant sector, supermarket sector travel sector and other sectors such as healthcare & education etc.
Product Definition:
Face Scan Payment is a technology that allows customers to make payments by scanning their faces. The technology is important because it makes it easy for customers to make payments and it can help reduce fraud.
Payment Equipment:
Payment equipment is a device or software that enables the processing of transactions. It may be used at the Point of Sale (POS) or in ATM machines to make payments. The global payment equipment market size was valued at USD 25,853.7 million in 2016 and is expected to grow significantly over the forecast period owing to increasing demand for cashless payments across various industry verticals such as retail, hospitality, healthcare & life sciences and travel & tourism among others.
Payment Systerm:
The global payment system is in a state of rapid change. The traditional model of processing payments is being replaced by new technologies that are more efficient, secure and customer-centric. This has led to the emergence of several challenges for both merchants and consumers in the industry. One such challenge faced by merchants is understanding which payment technology to deploy among different types based on their customers’ needs as well as their own capabilities.
Application Insights:
The market has been segmented into a restaurant, supermarket, travel and others. The restaurant application dominated the overall industry in terms of revenue as well as volume in 2017. This is attributed to the growing trend of dining out and new restaurants opening up frequently across the globe. However, with changing consumer preferences towards online food ordering and e-commerce platforms such as Amazon becoming popular for purchasing prepared meals, face scan payment systems are expected to gain traction at restaurants over the coming years.
Face scan technology is also being increasingly used at supermarkets where it helps eliminate long queues by providing accurate payment processing without human intervention during checkout processes at stores or supermarkets.
Regional Analysis:
North America dominated the global face scan payment system with a market share of over 35% in 2017. The growth is majorly attributed to the presence of prominent players such as nVIAsoft Corporation; Gemalto NV; and Cognizant Inc. In addition, these companies are investing heavily in R&D activities to introduce new features and functionalities within their product portfolio. For instance, in November 2018, Gemalto NV announced about introducing facial recognition technology for payments across Europe’s transport ticketing systems under a partnership with Vitagenean AIM-based agency.
Asia Pacific region is expected to witness significant growth over the forecast period owing to increasing adoption of emerging technologies such as face detection & recognition software among consumers especially for mobile banking applications by banks including HDFC Bank Ltd., ICICI Bank Ltd., Citibank India Pvt. Ltd.
Growth Factors:
- Increasing demand for convenience and security in payments
- Rising number of online shoppers
- Proliferation of mobile devices and apps
- Growing acceptance of facial recognition technology
- Development of innovative payment solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
Face Scan Payment Market Research Report
By Type
Payment Equipment, Payment Systerm
By Application
Restaurant, Supermarket, Travel, Other
By Companies
Alibaba, Tencent, Union China, YOUYUN, fanWE, Uniqul, Sinocan, JD Finance
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Face Scan Payment Market Report Segments:
The global Face Scan Payment market is segmented on the basis of:
Types
Payment Equipment, Payment Systerm
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Restaurant, Supermarket, Travel, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alibaba
- Tencent
- Union China
- YOUYUN
- fanWE
- Uniqul
- Sinocan
- JD Finance
Highlights of The Face Scan Payment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Payment Equipment
- Payment Systerm
- By Application:
- Restaurant
- Supermarket
- Travel
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Face Scan Payment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Face Scan Payment is a payment method that uses facial recognition technology to pay for goods and services. When you make a purchase using Face Scan Payment, the merchant will scan your face to verify your identity. This process is quick and easy, and it helps protect your privacy.
Some of the major companies in the face scan payment market are Alibaba, Tencent, Union China, YOUYUN, fanWE, Uniqul, Sinocan, JD Finance.
The face scan payment market is expected to grow at a compound annual growth rate of 20%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Face Scan Payment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Face Scan Payment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Face Scan Payment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Face Scan Payment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Face Scan Payment Market Size & Forecast, 2018-2028
4.5.1 Face Scan Payment Market Size and Y-o-Y Growth
4.5.2 Face Scan Payment Market Absolute $ Opportunity
Chapter 5 Global Face Scan Payment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Face Scan Payment Market Size Forecast by Type
5.2.1 Payment Equipment
5.2.2 Payment Systerm
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Face Scan Payment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Face Scan Payment Market Size Forecast by Applications
6.2.1 Restaurant
6.2.2 Supermarket
6.2.3 Travel
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Face Scan Payment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Face Scan Payment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Face Scan Payment Analysis and Forecast
9.1 Introduction
9.2 North America Face Scan Payment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Face Scan Payment Market Size Forecast by Type
9.6.1 Payment Equipment
9.6.2 Payment Systerm
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Face Scan Payment Market Size Forecast by Applications
9.10.1 Restaurant
9.10.2 Supermarket
9.10.3 Travel
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Face Scan Payment Analysis and Forecast
10.1 Introduction
10.2 Europe Face Scan Payment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Face Scan Payment Market Size Forecast by Type
10.6.1 Payment Equipment
10.6.2 Payment Systerm
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Face Scan Payment Market Size Forecast by Applications
10.10.1 Restaurant
10.10.2 Supermarket
10.10.3 Travel
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Face Scan Payment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Face Scan Payment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Face Scan Payment Market Size Forecast by Type
11.6.1 Payment Equipment
11.6.2 Payment Systerm
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Face Scan Payment Market Size Forecast by Applications
11.10.1 Restaurant
11.10.2 Supermarket
11.10.3 Travel
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Face Scan Payment Analysis and Forecast
12.1 Introduction
12.2 Latin America Face Scan Payment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Face Scan Payment Market Size Forecast by Type
12.6.1 Payment Equipment
12.6.2 Payment Systerm
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Face Scan Payment Market Size Forecast by Applications
12.10.1 Restaurant
12.10.2 Supermarket
12.10.3 Travel
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Face Scan Payment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Face Scan Payment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Face Scan Payment Market Size Forecast by Type
13.6.1 Payment Equipment
13.6.2 Payment Systerm
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Face Scan Payment Market Size Forecast by Applications
13.10.1 Restaurant
13.10.2 Supermarket
13.10.3 Travel
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Face Scan Payment Market: Competitive Dashboard
14.2 Global Face Scan Payment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Alibaba
14.3.2 Tencent
14.3.3 Union China
14.3.4 YOUYUN
14.3.5 fanWE
14.3.6 Uniqul
14.3.7 Sinocan
14.3.8 JD Finance
