PUBLISHER: Allied Market Research | PRODUCT CODE: 1140203
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140203
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
Key Market Segments
By Component
By Authentication Mode
By Technology
By Industry Vertical
By Region