Europe BFSI Biometrics Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Europe BFSI Biometrics Market Report is Segmented by Authentication Type (Single Authentication Factor, Multi-Factor Authentication), Contact Type (Contact-Based, Non-Contact Based), Product Type (Voice Recognition, Facial Recognition, Fingerprint Identification, Vein Recognition, Iris Recognition), Application (Door Security, ATM, Internet Banking, Mobile Banking, Payment Authentication), and Country (United Kingdom, Germany, France). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Europe BFSI Biometrics Market Size

Europe BFSI Biometrics Market (2025 - 2030)

Europe BFSI Biometrics Market Analysis

The Europe BFSI Biometrics Market size is estimated at USD 2.65 billion in 2025, and is expected to reach USD 5.38 billion by 2030, at a CAGR of 15.20% during the forecast period (2025-2030).

  • The increasing digitalization of banking services and biometrics enables banks to improve customer engagement levels, which contributes to the growth of this market. The past decade has witnessed substantial transformations in the banking industry as a result of the influence of digitization. The advent of the digital revolution has completely reshaped the manner in which customers engage with their banks and how banks conduct their operations. The introduction of digitization has effectively enhanced the accessibility and convenience of banking services for customers.
  • Biometrics in digital banking is increasing as digitalization advances, and banks and financial institutions need to secure authentication systems to enhance customer experience and protect sensitive information. Authentication methods, such as PINs or OTPs, and passwords are easily stolen, forgotten, or compromised. Hence, biometric verification for bank accounts has become increasingly integral to financial industry security platforms. Biometrics helps boost customer trust in banks and improves banking institutions' brand reputation.
  • Biometric authentication is rapidly increasing in the banking industry because of the provision of more secure identity verification processes. Changing customer behaviors led to new embedded finance options, such as the emerging buy-now, pay-later models that have gained a significant share. Almost half of Europeans have already used buy-now, pay-later. Poland and Sweden had maximum usage of 62% and 57%, respectively, while the Czech Republic and Austria had 31% and 33%.
  • Furthermore, face recognition services were introduced in the retail banking sector for eKYC services, enabling consumers to take a selfie with a smart device and a copy of their identity document, which was shared with a financial institution. The BFSI biometric face recognition technology has been introduced as an authentication method both online and at ATMs, which offers several benefits to consumers and financial institutions as a contactless interface and can reduce instances of fraud and lost cards.
  • The high initial investments required for the development of biometric technology, along with the costs of devices like facial, iris, and vein biometry, are primarily due to extensive research and development efforts, as well as the complexities involved in data analysis through embedded devices.
  • Additionally, the expenses related to maintenance and data security are crucial, including the need to maintain data security measures such as anti-virus software, encryption-decryption protocols, and other security measures. The costs associated with the biometric systems increase for all the corrective measures and device maintenance. This, in turn, limits banking and financial institutions from investing in these security and identification systems.
  • Furthermore, macroeconomic factors such as government regulations on the adoption of the biometrics market, along with the higher interest rate and geopolitical tensions, have affected the demand for biometrics adoption and impacted the market’s growth.

Europe BFSI Biometrics Industry Overview

The European BFSI biometrics market is fragmented and consists of several players. Companies in the market continuously try to increase their market presence by introducing new products, expanding their operations, or entering strategic mergers and acquisitions, partnerships, and collaborations. Some of the major players include IDEMIA, Veridium, Thales Group, HID Global Corporation, and Aware Inc.

Europe BFSI Biometrics Market Leaders

  1. IDEMIA

  2. Veridium

  3. Thales Group

  4. HID Global Corporation

  5. Aware, Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Europe BFSI Biometrics Market Concentration
Need More Details on Market Players and Competitors?
Download PDF

Europe BFSI Biometrics Market News

  • March 2024: Mastercard and Nexi announced a strategic partnership to advance open banking payments across Europe. This collaboration will enable seamless e-commerce transactions through Nexi's gateways, benefiting merchants across Europe.
  • January 2024: Mastercard announced the launch of an authentication service, enabling consumers to use fingerprints and facial recognition when logging in or making changes to accounts instead of fraud-prone passwords.

Europe BFSI Biometrics Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumption and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitutes
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Digitalization of Banking Services
    • 5.1.2 Biometrics Enable Banks to Improve Customer Engagement Levels
  • 5.2 Market Challenges
    • 5.2.1 High Initial Investment Cost
    • 5.2.2 Data Security Concerns

6. MARKET SEGMENTATION

  • 6.1 By Authentication Type
    • 6.1.1 Single Authentication Factor
    • 6.1.2 Multi-factor Authentication
  • 6.2 By Contact Type
    • 6.2.1 Contact-based
    • 6.2.2 Non-contact Based
  • 6.3 By Product Type
    • 6.3.1 Voice Recognition
    • 6.3.2 Facial Recognition
    • 6.3.3 Fingerprint Identification
    • 6.3.4 Vein Recognition
    • 6.3.5 Iris Recognition
  • 6.4 By Application
    • 6.4.1 Door Security
    • 6.4.2 ATM
    • 6.4.3 Internet Banking
    • 6.4.4 Mobile Banking
    • 6.4.5 Payment Authentication
  • 6.5 By Country***
    • 6.5.1 United Kingdom
    • 6.5.2 Germany
    • 6.5.3 France

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles*
    • 7.1.1 IDEMIA
    • 7.1.2 Veridium
    • 7.1.3 Fujitsu
    • 7.1.4 Thales Group
    • 7.1.5 HID Global Corporation
    • 7.1.6 Fulcrum Biometrics Inc.
    • 7.1.7 Precise Biometrics AB
    • 7.1.8 Verint VoiceVault
    • 7.1.9 M2SYS Technologies
    • 7.1.10 Aware Inc.

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Europe BFSI Biometrics Industry Segmentation

The study tracks the revenue accrued through the sale of biometrics in the BFSI sector by various players in the European region. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyses the overall impact of COVID-19 aftereffects and other macroeconomic factors on the market. The report's scope encompasses market sizing and forecasts for the various market segments.

The European BFSI biometrics market is segmented by authentication type (single authentication factor, multi-factor authentication), contact type (contact-based, non-contact based), product type (voice recognition, facial recognition, fingerprint identification, vein recognition, iris recognition), application (door security, ATM, internet banking, mobile banking, payment authentication), and country (United Kingdom, Germany, France, Rest of Europe). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Authentication Type Single Authentication Factor
Multi-factor Authentication
By Contact Type Contact-based
Non-contact Based
By Product Type Voice Recognition
Facial Recognition
Fingerprint Identification
Vein Recognition
Iris Recognition
By Application Door Security
ATM
Internet Banking
Mobile Banking
Payment Authentication
By Country*** United Kingdom
Germany
France
Need A Different Region or Segment?
Customize Now

Europe BFSI Biometrics Market Research Faqs

How big is the Europe BFSI Biometrics Market?

The Europe BFSI Biometrics Market size is expected to reach USD 2.65 billion in 2025 and grow at a CAGR of 15.20% to reach USD 5.38 billion by 2030.

What is the current Europe BFSI Biometrics Market size?

In 2025, the Europe BFSI Biometrics Market size is expected to reach USD 2.65 billion.

Who are the key players in Europe BFSI Biometrics Market?

IDEMIA, Veridium, Thales Group, HID Global Corporation and Aware, Inc. are the major companies operating in the Europe BFSI Biometrics Market.

What years does this Europe BFSI Biometrics Market cover, and what was the market size in 2024?

In 2024, the Europe BFSI Biometrics Market size was estimated at USD 2.25 billion. The report covers the Europe BFSI Biometrics Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe BFSI Biometrics Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Europe BFSI Biometrics Industry Report

Statistics for the 2025 Europe BFSI Biometrics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe BFSI Biometrics analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Europe BFSI Biometrics Market Report Snapshots

Compare market size and growth of Europe BFSI Biometrics Market with other markets in Technology, Media and Telecom Industry

Europe BFSI Biometrics Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)