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Mobile Biometrics Global Market Report 2024 - By Report, Share, Growth And Trends, Forecast To 2033
Mobile Biometrics Market
As per the report, the mobile biometrics market size has grown exponentially in recent years. It will grow from $45.89 billion in 2023 to $56.67 billion in 2024 at a compound annual growth rate (CAGR) of 24.0%. The mobile biometrics market size is expected to see exponential growth in the next few years. It will grow to $132.77 billion in 2028 at a compound annual growth rate (CAGR) of 24.3%.
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Increasing Demand For Digital And Internet Penetration Boosting Mobile Biometrics Market
The growth in internet penetration is expected to propel the growth of the mobile biometrics market going forward. Internet penetration refers to the percentage of a population or a geographic area that has access to the internet. The growth of internet penetration is increasing due to economic development, education and information access, and social connectivity. The internet penetration allows users to access mobile payment applications and other daily-use applications. Mobile biometrics provide a convenient and secure authentication method for authorizing mobile payments, verifying user identities, and protecting against fraud. For instance, in December 2023, according to reports published by the U.S. Bureau of Economic Analysis, a US-based government agency, the digital economy value added by internet activity in the US increased from $130 billion in 2020 to $155 billion in 2021. Therefore, the growth in digital and internet penetration is driving the growth of the mobile biometrics market.
Leading Companies Innovating In Mobile Biometrics For Secure Transactions
Major companies operating in the mobile biometrics market are focused on developing innovative technologies, such as mobile POS featuring biometric capabilities, to enable biometric enrollment and identification procedures. The mobile POS featuring biometric capabilities is a mobile point-of-sale system incorporating biometric technology for secure and convenient transactions. For instance, in August 2021, BIO-Key International Inc., a US-based identity-bound biometric solution, launched an innovative Android-based point-of-sale (POS) solution equipped with FBI-certified capacitive fingerprint biometrics. This provides secure and efficient mobile point-of-sale transactions for various industries such as banking, commercial, healthcare, microfinance, SIM registration, and inventory management.
The mobile biometrics market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Authentication Mode: Single Factor Authentication, Multi Factor Authentication
3) By Technology: Fingerprint Recognition, Voice Recognition, Face Recognition, Other Technologies
4) By End Users: Public Sector, Banking, Financial Services, And Insurance, Healthcare, It And Telecommunication, Other Industrial Verticals
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Major companies operating in the mobile biometrics market are Apple Inc., Qualcomm Technologies Inc., 3M Company, NEC Corporation, Safran Group, Thales Company, IDEMIA Group, Synaptics Incorporated, HID Global Corporation, Goodix Technology Inc., Nuance Communications Inc., ZKTeco Inc., Fingerprint Cards AB, M2SYS Technology, Egis Technology Inc., Suprema Inc., Crossmatch Technologies Inc., Aware Inc., Sonavation Inc., Veridium Ltd., Precise Biometrics AB, BIO-key International Inc., KeyLemon SA, Next Biometrics Group ASA, IDEX Biometrics ASA
Contents of the report:
1. Executive Summary
2. Mobile Biometrics Market Report Structure
3. Mobile Biometrics Market Trends And Strategies
4. Mobile Biometrics Market - Macro Economic Scenario
5. Mobile Biometrics Market Size And Growth
…..
27. Mobile Biometrics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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