GLOBAL MOBILE BIOMETRICS MARKET 2016-2020
WiseGuyReports.com adds “GLOBAL MOBILE BIOMETRICS MARKET 2016-2020” report to its research database.
This market research report presents a detailed segmentation of the global mobile biometrics market by end user (enterprises and individual consumers), by applications (authentication, mobile payment, and access control), by technology (fingerprint recognition, facial recognition, and voice recognition), and by geography (APAC, Europe, Latin America, MEA, and North America). The key vendors analyzed in this report are 3M Cogent, Apple, Google, NEC, and Nuance Communications.
Outlook of the global mobile biometrics market
Technavio’s market research analyst predicts the global mobile biometrics market to grow steadily at a CAGR of over 103% during the forecast period. The growing adoption of biometrics in mobile devices is one of the major reasons for this market’s growth. With advances in technology, the acceptance of mobile banking is high among consumers as it provides a high-level of security. This change in the consumers’ preference will propel the adoption of mobile devices integrated with biometrics technologies during the forecast period.
The advent of voice biometrics in the financial sector is a key factor that will impel the prospects for growth in this market. Due to the increasing usage of different internet networks for financial transactions, the instances of cyber threats and fraudulent activities have increased. Consequently, the demand for voice biometrics technology is also increasing as it helps consumers to securely access their bank accounts by verifying themselves with their voice.
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End-user segmentation of the mobile biometrics market
- Individual consumers
In this market study, analysts have estimated the individual consumers segment to be the largest market segment during the forecast period. A major factor that affects the prospects for growth in this market is e-commerce. Mobile biometrics helps customers to make online payments while shopping without the requirement of a credit or debit card. Its ability to enhance and streamline POS processes will lead to the growth of this market segment during the predicted period.
Segmentation by application and analysis of the mobile biometrics market
- Access control
- Mobile payment
In 2015, mobile biometrics was mainly used for access control, which accounted for more than 50% of the total market share. Due to the implementation of BYOD policies in enterprises and the need for mobile workforce among organizations, the usage of mobile devices has increased. Consequently, a number of mobile OEMs have enabled the usage of biometric technologies to gain access to devices and applications. This recent increase in the usage of biometrics technologies for access control applications in mobile devices will result in market growth during the estimated period.
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Competitive landscape and key vendors
The global mobile biometrics market is highly fragmented because of the presence of numerous small and large vendors. The providers in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. The high level of vendor competition in this market has led to an increase in the number of M&As, wherein smaller players are being acquired by, or are being merged with, major players.
The leading vendors in the market are -
- 3M Cogent
- Nuance Communications
Other prominent vendors in the market include AGNITiO, Allied Time USA, AMD, Animetrics, ASUS, BioEnable, BioID, BIO-key, Cognitec Systems, Dell, Dermalog Identification Systems, Diamond Fortress, FacialNetworkm, 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.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global mobile biometrics market?
- What are the key market trends impacting the growth of the mobile biometrics market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global mobile biometrics market?
- Trending factors influencing the market shares of APAC, Europe, Latin America, MEA, and North America.
- What are the key outcomes of the five forces analysis of the mobile biometrics market?
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