Mobile Biometrics Market By Component (Hardware, Software, Service), By Authentication Mode (Single Factor Authentication, Multi Factor Authentication), By Technology (Fingerprint Recognition, Voice Recognition, Face Recognition, Others), By Industry Vertical (Public Sector, BFSI, Healthcare, It And Telecommunication, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Mobile biometric solutions are finding many avenues due to their precision and efficiency in verifying the identity of an individual. Mobile biometric authentication technology today is being used for critical applications such as mobile banking and e-commerce. With the help of mobile biometrics customers can authenticate transactions that originate from their mobile banking or retail applications using facial recognition or voice biometrics or fingerprint recognition. Fintech companies that integrate mobile biometric technologies with customer bank accounts can also leverage mobile biometrics to authenticate transactions in real-time.
Rising demands for proper authentication methods are propelling the growth of the global mobile biometric market. Furthermore, rising number of cyber-attacks is also expected to aid in growth of the mobile biometric industry. However, complex installation and infrastructural requirements hamper the market growth. Conversely, advancements in the field of IoT and cloud technology is expected to offer remunerative opportunities for expansion of the mobile biometric market during the forecast period.
The global mobile biometric market is segmented on the basis of component, authentication mode, technology, industry verticals, and region. Based on component, the market is segmented into hardware, software, and service. On the basis of authentication mode, the market is bifurcated into single factor authentication and multi factor authentication. Depending on technology, the market is classified into fingerprint recognition, voice recognition, face recognition, and others. Based on industry verticals, the market is segmented into public sector, BFSI, healthcare, IT and telecommunication, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global mobile biometric market is dominated by key players such as 3M, Apple, Inc., Aware, Inc., BIO-Key International, HID Global Corporation, M2SYS Technology, NEC Corporation, Nuance Communication, Precise Biometrics AB, and Safran, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mobile biometrics market analysis from 2021 to 2031 to identify the prevailing mobile biometrics market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the mobile biometrics market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global mobile biometrics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Hardware
Software
Service
By Authentication Mode
Single Factor Authentication
Multi Factor Authentication
By Technology
Fingerprint Recognition
Voice Recognition
Face Recognition
Others
By Industry Vertical
Public Sector
BFSI
Healthcare
It And Telecommunication
Others
By Region
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
3M
Apple, Inc.
Aware, Inc.
BIO-Key International
HID Global Corporation
M2SYS Technology
NEC Corporation
Nuance Communications
Precise Biometrics AB
Safran, Inc.
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