Press release
Global mobile biometrics market is expected to register a healthy CAGR of 27.29% in the forecast period of 2019-2026
Global Mobile Biometrics Market Trends
Global mobile biometrics market is expected to register a healthy CAGR of 27.29% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the large-scale rise in the applications of mobile biometrics as well as the various advancements and development of innovative technology.
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Major Market Competitors/Players
Few of the major competitors currently working in the global mobile biometrics market are Apple Inc., IDEMIA, Nuance Communications, Inc., NEC Corporation, Precise Biometrics AB, Gemalto NV, BIO-key: FUJITSU, ImageWare Systems, Inc., BioEnable Technologies Pvt. Ltd, Applied Recognition, Inc., Cognitec Systems GmbH, Fulcrum Biometrics, LLC, Neurotechnology, M2SYS Technology - KernellÓ Inc., VoicePIN.com Sp. z o.o., Verint VoiceVault Voice Authentication, Aware, Inc., Mobbeel, Veridium Ltd., Fingerprint Cards, ValidSoft, Egis Technology Inc., Shenzhen Goodix Technology Co., Ltd., Synaptics Incorporated and Qualcomm Technologies, Inc. among others.
Segmentation:
Global Mobile Biometrics Market By Component (Hardware, Software), Authentication Mode (Single-Factor Authentication, Multi-Factor Authentication), Application (Access Control, Mobile Banking/Payment, Authentication, Others), Industry (Consumer Electronics, Healthcare, Finance & Banking, Travel & Immigration, Government/Law Enforcement & Forensic, Military & Defense, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Competitive Analysis
Global mobile biometrics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mobile biometrics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Mobile Biometrics Market
Mobile biometrics can be defined as the collection of various technologies, components combined together to provide security services and biometric authentication for access and other features. This consists of various software, hardware systems and applications which utilize specialised authentication services. This combination finds its application in various mobile, portable devices such as smartphones, tablets, hand-held displays among others.
Key Insights in the report:
• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved
Key Developments in the Market:
• In March 2019, Qualcomm Technologies, Inc. announced the launch of their 2nd Generation of ultrasonic fingerprint sensors. The sensors will provide greater area for recognition of fingers, it will also be able to detect heart rates of the individuals. This sensor is designed for integration in the screen itself. This will ensure better comfort and operations of the smartphones.
• In January 2019, Apple Inc. in collaboration with AuthenTec filed for a new patent with the U.S. Patent Office, pertaining to the biometric sensor which will be applied in wrist bands, watch for wrist sensing. This sensor will be able to detect the unique skin patterns for its authentication which will also be able to read unique heat signatures.
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Market Drivers:
• Increasing focus on implementing better security services in mobile devices, this factor is expected to augment growth of the market
• Rising adoption of conducting financial transactions through mobile devices is expected to foster growth of the market
• Significant rise in demand for electronic verification solutions, this factor is expected to boost the growth of the market
• Increasing prevalence of government initiatives to promote the usage of biometrics, this factor is expected to drive the growth of the market
Market Restraints:
• Apprehension in the adoption of technology due to breach and privacy issues, this factor is expected to restrain the growth of the market
• Lack of efficiency in difficult environmental conditions is expected to restrain the growth of the market
• Requirement of additional components and software integration for the successful deployment of this technology is also expected to restrict the growth of the market
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