Press release
Mobile Biometrics Market Size & Share - Industry Trend and Forecast 2016 - 2024
The main objective of this report is to define, describe, and forecast the global “Mobile Biometrics ” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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During recent years, there has been significant growth in mobile biometrics market. Biometric is likely to analyze people’s physical characteristics as well as behavioral approach. The technology is mainly launched to support the argument that every individual is unique from both physical as well as behavioral mannerisms. Biometrics identifiers recognize both physiological characteristics and behavioral characteristics. Physiological characteristics identify the composition and shape of the body, such as fingerprints, face, hand, DNA, retina, ear features, and odor, whereas a person’s behavior is recognized by behavioral characteristics such as voice, gestures, gait, and typing rhythm.
Mobile biometrics portray some of the special characteristics such as face identification, retina, voice, iris, vein, scanner, software, and fingerprints. All these functions are put into action by launching superior quality camera, enhancement in the quality of microphones, and present mobile devices introduce some common method for verification such as fingerprint reader.
IT consumerization (information technology consumerization) acts as the main driver generating demand in the mobile biometric market. It refers to the use of personal devices such as tablet PCs, iphones and connects these devices to the corporate network for safe transactions even without prior permission of organizations. All these iphones and TabletPCs possess biometrics. At present, demand for iphones and TabletPCs is rising, which in turn raises the demand for mobile biometrics.
Hence, transformation of market to smart commerce from traditional commerce enable the mobile biometrics market to grow at an increasing rate that save time and deliver efficient security relations without any execution of passwords. Similarly, increasing demands for personal devices for financial transactions safely as well as BYOD (bring your own device) act as other driver which contributes growth to mobile biometric industry. Moreover, with the rise in demand for mobile security the voice biometrics are gaining more popularity.
Fear of data breach, privacy breakup, and high TCO (Total cost of ownership mainly depicts the indirect and direct cost of mobile biometrics) act as key restraints for this mobile biometrics market. There are high possibilities of unauthorized alteration of biometric databases which will further increase the cyber threats.
Thus, increase in e-commerce and online future transactions will create an opportunity for the investors to invest in mobile biometrics industry.
Mobile biometrics markets are segmented by end users and application. Enterprises and individual consumers act as end users. Individual consumers can make online payment through mobile biometrics without using any debit card or credit card whereas enhancement in POS process will expand the market during the forecast period.
Access control and authentication are segmented by application in mobile biometrics market. The process of authentication is further segmented into single-factor authentication and multi-factor authentication. Multi-factor authentication possess three credentials and those are knowledge factor such as passwords, possession factor such as Paytm and inherence factor such as retina scan, fingerprint scan, and others. While single-factor authentication is a process that identifies the user requesting access through only one category of credentials. In 2015, access control held the major market share in mobile biometrics.
By geography mobile biometrics market is segmented by North America, Europe, Asia Pacific and Rest of the World. North America and Europe shows a steady growth due to increase in adoption of smart phone devices and e-passport, compared to APAC and ROW.
Due to presence of abundant large and small vendors, mobile biometrics market is extremely fragmented. Research and development play a key role in mobile biometrics market which generate competition in terms of innovation, price, quality, distribution, reputation, service, and promotion. Increase in establishment of high level vendors raises M&As, wherein small vendors merged with large one.
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Therefore, mobile biometrics can be further segmented in terms of leading vendors such as Google, NEC, 3M Cogent, Apple, and Nuance Communications.
Whereas Other noticeable vendors in this market comprise Allied Time USA,Agnitio, AMD, ASUS, BIO-key,Bio-ID, BIO-enable, Cognitec Systems, Dermalog Identification Systems, Dell, Diamond Fortress, FacialNetworkm, Fingerprint Cards,Fareclock, Fulcrum Biometrics, IDEX ASA, HP, Kairos, Intel security, KeyLemon, M2SYS Technology, Lenovo, Precise Biometrics, SpeechPro, Samsung, ValidSoft,VoicePass,VoiceVault,VoiceTrustSuprema, ImageWare System, Animetrics and Windows.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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