Advertising Driven Press Release Distribution
Advertising Driven Press Release Distribution
Mobile Biometrics Market is analysed to grow at a CAGR of 20.2% during the forecast 2021-2026 to reach $75.3 billion by 2026. Mobile biometric solution is an approach that is designed to verify an individual’s identity that holds possession of a mobile device and used as a unique biometric identifier. Mobile biometric systems work through two different authentication modes which are single-factor authentication (SFA) mode and multi-factor authentication (MFA) mode. With the advancement in technology, Mobile Biometric data are now used as one of the vital biometric trends in global Internet banking. Until recently, the most common type of biometric identification was fingerprint. The mobile biometric with single-factor authentication mode uses fingerprint readers, face authentication, Iris recognition or Voice biometric technology for authentication applications. Mobile biometrics system works through various processes such as Keystroke Dynamics and Deep neural networks system. These processes work together in a mobile biometrics system to offer well organized security to the mobile devices. This efficient security system tends to bring significant growth in its demand, further driving its market growth. Moreover, the increasing number of mobile subscribers and rising security demands in mobile devices is anticipated to bring major growth in the Mobile Biometrics market size during the forecast period.
Mobile Biometrics Market Segment Analysis – By Component
By Component, the Mobile Biometrics Market Report is segmented into Hardware (Fingerprint Readers, Scanners, Camera and Others) and Software. Hardware components are analysed to hold highest share 52.18% in 2020 owing to the increasing adoption of these technologies in various smartphones. In last few years, global electronics market has witnessed a huge market growth across the globe due to the mass production of mobile devices of flexible price ranges. Mobile devices with price range around $95 has in-built fingerprint biometric systems. This availability of low-cost mobile devices with fingerprint biometrics makes it affordable to majority of the consumers across the globe. This high production of affordable mobile devices with fingerprint recognition systems tend to drive the market growth of Hardware segment during the forecast period.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=505358
Report Price: $ 4500 (Single User License)
Mobile Biometrics Market Segment Analysis – By End-Use Industry
By End-Use Industry, the Mobile Biometrics Market Report is segmented into BFSI, Consumer electronics, Healthcare, Government /Law Enforcement & Forensic, Military & Defence, Travel & Tourism, Retail, Hospitality and Others. Consumer Electronics segment is analysed to hold the highest share during the forecast period 2021-2026. According to India Brand Equity Foundation (IBEF), the National Policy on Electronics is targeting the production of one billion mobile handsets valued at $ 190 billion by 2025, out of which 600 million handsets valued at $100 billion are likely to be exported. With the increasing production of low-priced smartphones with face recognition and fingerprint recognition system, the demand of Mobile biometrics in Consumer electronics sector has witnessed a significant growth in last few years. Moreover, increasing competition between global market players of smartphone industry is anticipated to create huge impact in the Mobile biometrics market growth in Consumer electronics sector. Increasing demand of high security smartphones at affordable price is also a growing factor of Mobile Biometrics market in this sector.
Mobile Biometrics Market Segment Analysis – By Geography
Asia-Pacific is analysed to be the major region with a share of 35% in 2020 for the Mobile Biometrics Market owing to the presence of highly populated countries such as China, India, Japan and Others. With the availability of large number of populations, the increasing number of mobile subscribers is a major factor for the growth of Mobile Biometrics Market in this region. According to India Brand Equity Foundation (IBEF), mobile phone exports in India reached a record of US$ 1.5 billion in 2020, of which 98% are expected to be smartphones. This increasing production of smartphones in this region is anticipated to bring huge impact in the market growth of Mobile Biometrics during the forecast period. Moreover, with the presence of high population, the chances of mobile theft and data leakage is always a major concern. This security demands tend to uplift the demand of Mobile Biometrics, further driving its market growth. High population density further increases the number of bank users which further enhanced the application of Mobile biometrics solutions in Banking, Financial Services and Insurance (BFSI). Growing mobile transaction in countries, such as India and China are expected to be one of the significant drivers for the mobile biometrics market in the region and is expected to rise during the forecast period.
Mobile Biometrics Market Drivers
Growing number of Mobile subscribers is driving the demand of Mobile Biometrics systems
The growing mobile subscribers base has brought significant growth in the Mobile Biometrics Market. According to Global System for Mobile Communications Association (GSMA) Mobile economy report 2021, there were approximately 5.2 billion unique mobile subscribers in 2020 which was forecasted to reach 5.7 billion by the end of 2025 among which smartphones accounted for 60% of the connections and it is expected that the number would reach approximately six billion in 2026, with an 80% share of smartphones. This increasing number of mobile subscribers across the globe tend to boost the demand of mobile biometrics for security applications, further driving its market growth during the forecast period. In last few years, global electronics market has witnessed a huge market growth across the globe due to the mass production of mobile devices of flexible price ranges. Mobile devices with price range around $95 has in-built fingerprint biometric systems. These makes these devices affordable to majority of the consumers across the globe. With this huge availability of mobile subscribers across the globe, the threat of theft and data leakage is always at peak. This uplift the demand of Mobile biometrics system installed in their smartphones which is anticipated to create huge market scope for the Mobile Biometrics market in global level.
Rising demand of intelligence security systems in mobile devices is propelling the Mobile Biometrics market growth
The rising demand of intelligence security systems in mobile devices to provide security to the data stored in the mobile devices such as bank account details, images, recordings, contacts and other personalized data is a major driving factor for the growth of Mobile Biometrics Market. Mobile biometric authentication is primarily used for mobile banking and e-commerce. For instance, customers can authenticate transactions that originate from their mobile banking or retail applications using facial recognition or voice biometrics. Fintech companies that integrate with customer bank accounts also leverage mobile biometrics to authenticate transactions. These can be at a physical point of sale such as performing facial recognition when using Apple Pay or Samsung Pay in a brick-and-mortar location or to authenticate electronic transfer of funds through a mobile fintech app such as Venmo or PayPal. For instance, Aware, Inc., a leading global provider of biometrics software products, solutions and services launched their new mobile biometric software named Knomi in the authentication of offenders in Arkansas. It offers mobile biometric authentication solution featuring face and voice liveness detection. These intelligence security systems due to increasing security concerns tend to drive the Mobile Biometrics market growth during the forecast period.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=505358
Mobile Biometrics Market Challenges
False positives and inaccuracy are analysed to hamper the Mobile Biometrics Market growth
One of the most important factors restraining the market growth of Mobile Biometrics is the false positives and inaccuracy. Biometric authentication methods rely on partial information to authenticate a user’s identity. For instance, a mobile biometric device will scan an entire fingerprint during the enrolment phase and convert it into data. However, future biometric authentication of the fingerprint will only use parts of the prints to verify identity so it’s faster and quicker. For instance, in 2019, a group of hackers who worked as part of the X-Lab security research team at a Chinese company called Tencent, demonstrated their fingerprint hacking methodology at the GeekPwn 2019 conference in Shanghai. They stated, any fingerprint scanner can be beaten using equipment costing $140 and an app that analyses a photograph of your print. This hacking capabilities tend to bring major challenges in the market growth of Mobile Biometrics during the forecast period.
Mobile Biometrics Market Landscape
Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Mobile Biometrics Market. In 2020, the market of Mobile Biometrics industry outlook has been fragmented by several companies. Mobile Biometrics top 10 companies include:
3M Cogent, Inc.
Applied Recognition, Inc.
Bioenable Technologies Pvt. Ltd.
Cognitec Systems GmbH
Fulcrum Biometrics, LLC.
Honeywell International Inc.
In October 2020, Aware, Inc., a leading global provider of biometrics software products, solutions and services launched their new mobile biometric software named Knomi in the authentication of offenders in Arkansas. It offers mobile biometric authentication solution featuring face and voice liveness detection.
In March 2019, AppGuard launched TRUSTICA Mobile, which is a consumer mobile device communication app with military-grade security. This device includes iris, facial, and fingerprint biometrics for user authentication and encryption keys that change for each interaction. This tend to uplift the market growth of Mobile Biometric systems in Military & Defence applications.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=505358
Relevant Report Titles:
Mobile Biometric Security and Services Market
Next Generation Biometrics Market
For more Electronics related reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
Gum Hydrocolloid Market Size Forecast to Reach $11.5 Billion by 2025
Fibrin Sealants Market Size Estimated to Reach $1.1 Billion by 2025
Structured Cabling market size set to grow at a CAGR of 9% during the forecast period 2020-2025
Truck Racks market size forecast to reach $1.05 billion by 2025
Honeycomb Core Materials Market Forecast to Reach $4.2 Billion by 2025 After Growing at a CAGR of 9.6% During 2020-2025