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Mobile Biometrics Market - Industry Trends, Opportunities & Competitive Landscape Analysis Till 2024
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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.
Therefore, mobile biometrics can be further segmented in terms of leading vendors such as Google, NEC, 3M Cogent, Apple, and Nuance Communications.
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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.
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