Global Mobile Biometric Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 28.3% through 2020 to 2027, reaching nearly US$ XX Bn.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Mobile biometrics is a part of the biometric security systems which includes usage of mobile devices to measure & scan unique characteristics. The mobile biometrics refers to portable devices entrenched in either a smartphone or visibly as hardware used for performing biometrics formalities.
The global market for mobile biometrics is set to witness significant growth of 3D sensors and in-display fingerprint sensors. Smartphone manufacturers are progressively integrating in-display fingerprint sensors with their smartphones as it offers flexibility to place the fingerprint sensor anywhere on the device. Enhanced security for identity authentication and improved convenience will be some of the key factors driving the target market.
However, concerns about the privacy and data breach need to protect biometric data, and significant cost of these devices are some major factor expected to restraint growth of the mobile biometrics market globally. So, the scope of the report includes a detailed study of global and regional markets for mobile biometric with the reasons given for variations in the growth of the industry in certain regions.
Global Mobile Biometric Market1
By Component, the fingerprint readers segment was valued at US$ XX Mn. in 2019 and is expected to reach US$ XX Mn. by 2027 at a CAGR of XX% during the forecast period. Fingerprint recognition is the prominent single-factor authentication method and is expected to lead the market over 2020-2027 as it is the cheapest and most extensively used method across all industries. Likewise, the MMR report covers all segments in the mobile biometric market such as component, authentication mode, and industry.
Mobile Biometric in banking Industry:
Mobile biometrics in banking is most popular in developing countries, such as India, US, UK and Indonesia. In 2018, this continent accounts for nearly 54% of banks using biometrics worldwide. The Americas ranks second with 33%, followed by Europe 8%, Africa 6%. Across industrialized economies, Japan ranks at the top supported by a network of over 80K biometric ATMs and more than 16 million customers. These changes may reflect higher regulatory hurdles in the US and Europe, related to strict personal data protection rules.
The report offers a brief analysis of the major regions in the mobile biometric market, such as Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. The Asia Pacific Mobile Biometric Market was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX% during the forecast period. Rising mobile transactions in economies such as India and China is expected to be one of the significant drivers for the mobile biometrics market in the APAC.
China is witnessing high mobile transactional volume which is likely to create demand for authentication solutions like biometrics.
In India, State Bank of India (SBI) is planning to launch a multi-mode biometric authentication for its mobile applications. It will include either face or fingerprint recognition or by using voice recognition software. The bank is also planning to use biometrics for various mobile banking products with Unified Payment Interface transactions. With other banks to follow suit, it is estimated to bolster the demand of the market in APAC.
The MMR research study includes the profiles of leading companies operating in the global mobile biometric market. In Jan 2019, Apple Company in collaboration with AuthenTec filed for a new patent with the United State Patent Office, about the biometric sensor which will be useful in wrist bands, watch for wrist sensing. This sensor will be able to detect the unique skin patterns for its verification which will also be capable to read unique heat signatures.
The objective of the report is to present a comprehensive analysis of the Global Mobile Biometric Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Mobile Biometric Market dynamics, structure by analyzing the market segments and projects the Global Mobile Biometric Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Mobile Biometric Market make the report investor’s guide.
Scope of the Global Mobile Biometric Market
Global Mobile Biometric Market, by Component
• Fingerprint readers
Global Mobile Biometric Market, by Authentication Mode
• Single-factor authentication
• Multi-factor authentication
Global Mobile Biometric Market, by Industry
• Consumer electronics
• Finance & banking
• Travel & immigration
• Military & defense
Global Mobile Biometric Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
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