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Increasing Demand For Digital And Internet Penetration Boosting Mobile Biometrics Market Emerges as a Core Driver of the Mobile Biometrics Market in 2025
Mobile Biometrics
Mobile Biometrics Market Size Growth Forecast: What to Expect by 2025?
The size of the mobile biometrics market has seen rapid expansion in the last few years. The projection is for an increase from $55.67 billion in 2024 to a whopping $69.01 billion in 2025, marking a compound annual growth rate (CAGR) of 23.9%. This significant rise during the historical period is the result of heightened security issues, growing demand among consumers for privacy, enhanced industry norms, a boost in the prevention of identity theft, greater proliferation of smartphones, and ascending threats to cybersecurity.
How Will the Mobile Biometrics Market Size Evolve and Grow by 2029?
There is a prediction for tremendous expansion in the mobile biometrics market over the next several years, with an anticipated increase to a value of $154.39 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 22.3%. This surge in growth during the prediction period can be ascribed to the escalating regulatory compliance obligations, the pivot to contactless options, their incorporation by financial bodies, the broadening of mobile transactions, and a focus on user interaction. Anticipated trends for this period encompass enhancements in facial recognition, incorporation of biometric wearables, deployment of voice biometrics, multimodal biometrics, ongoing authentication and the application of artificial intelligence and machine learning in biometrics, coupled with the evolution of wearable tech.
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What Drivers Are Propelling the Growth of Mobile Biometrics Market Forward?
The escalating rate of internet access is predicted to accelerate the expansion of the mobile biometrics market. Internet penetration is related to the proportion of either a population or a geographic area that can access the internet. The increase in internet penetration comes about due to factors such as progress in economy, education, information access, and social engagement. This digital access enables users to make use of mobile payment applications and various daily-use apps. The role of mobile biometrics is to offer a safe and easy-to-use authentication method for approving mobile payments, verifying user identities, and guarding against fraud. For example, in October 2023, the International Telecommunication Union, a specialized agency based in Switzerland, published a report that revealed that about 67 percent of the world's population, which amounts to 5.4 billion people, are connected online, showcasing the rising trend of digital and internet access. This shows a 4.7 percent uptick since 2022, in comparison with a 3.5 percent growth from 2021 to 2022. Thus, the surge in digital and internet access is contributing to the development of the mobile biometrics market.
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Which Emerging Trends Are Transforming the Mobile Biometrics Market in 2025?
Prominent players within the mobile biometrics marketplace are prioritizing the advancement of novel technologies, for example, fingerprint capture software, to facilitate procedures related to biometric enrolment and identification. Fingerprint capture software represents a technological solution that allows individuals to capture and analyze fingerprint images via devices such as smartphones or tablets. This is used for biometric identification and validation objectives. For example, in November 2023, Mobile-Technologies, a company based in Thailand with a specific focus on digital identity management and workflow automation, introduced the Fingerprint Xpress. This software enables users to capture fingerprints using just a camera on their phone, eliminating the necessity for specialized equipment. The Fingerprint Xpress was developed to enhance security and simplify authentication processes, addressing the drawbacks associated with traditional methods such as passwords and physical fingerprint scanners. This software, leveraging the commonality of smartphones, brings biometric authentication within easier reach and optimizes it for various purposes, such as identity verification and authorizing transactions.
What Are the Key Segments in the Mobile Biometrics Market?
The mobile biometricsmarket 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
Subsegments:
1) By Hardware: Sensors, Camera Modules, Microcontrollers, Fingerprint Scanners
2) By Software: Authentication Software, Image Processing Software, Cloud-Based Software Solutions, Biometric Data Management Software
3) By Service: Integration Services, Consulting Services, Support And Maintenance Services, Managed Services
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Who Are the Key Players Shaping the Mobile Biometrics Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Mobile Biometrics Market?
North America was the largest region in the mobile biometrics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile biometrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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