Mobile Biometrics Market : Opportunity Analysis and Industry Forecast upto 2024

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.

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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.

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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.

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.

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