The analysts forecast global mobile biometrics market to grow at a CAGR of 103.3% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global mobile biometrics market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of biometrics solutions such as application software used in mobile devices like smartphones and tablets. The revenues do not include the hardware cost such as cameras and sensors. The revenue generated from after-sales services is also not considered.
The following companies are the key players in the global mobile biometrics market: 3M Cogent, Apple, Google, NEC, and Nuance Communications.
Other Prominent Vendors in the market are: AGNITiO, Allied Time USA, AMD, Animetrics, ASUS, BioEnable, BioID, BIO-key, Cognitec Systems, Dell, Dermalog Identification Systems, Diamond Fortress, FacialNetwork, Fareclock, Fingerprint Cards, Fulcrum Biometrics, HP, IDEX ASA, ImageWare Systems, Intel Security, Kairos, KeyLemon, Lenovo, M2SYS Technology, Precise Biometrics, Samsung, SpeechPro, Suprema, VoicePass, ValidSoft, VoiceTrust, VoiceVault, and Windows.
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According to the mobile biometrics market report a key growth driver for this market is the implementation of BYOD policies by companies which allows companies to use personal devices at work. This helps the employees in increasing their productivity and managing their travel time, thereby reducing the operational costs of companies since some costs, such as repair and maintenance costs, would no longer be applicable. Small and medium-sized enterprises worldwide are increasingly adopting BYOD policies to reduce their operational costs. An increase in the mobile workforce has enabled small and medium-sized enterprises to have their employees across a given region, which in turn has boosted their sales and productivity.
The global mobile biometrics market analyst said one trend that will boost market growth if facial recognition biometrics is adopted in the BFSI sector. Facial recognition is likely to be used in consumer electronics for analyzing an individual's facial features to gain access to online transactions and applications. Facial recognition is considered one of the most reliable solutions for verifying an individual's identity. With an increase in the adoption of consumer electronics and growing acceptance of mobile payments, mobile commerce is gaining traction. Due to instances of identity theft and financial fraud, organizations are supporting the use of facial recognition in consumer electronics for identity verification on apps.
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Global Mobile biometrics Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Data security is a serious concern for government organizations, enterprises, and individuals. Identity badges, numeric keypads, and PINs were the most popular devices used to prevent unauthorized access to sensitive data and assets. Advances in technology led to the introduction of two-factor authentication, which allows access on the basis of hardware devices and numeric codes, but cracking these security codes was easy.
Further, the report states that one challenge that could hamper market growth is the high total cost of ownership to implement and maintain biometric applications.
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