Published on : Jun 16, 2016
ALBANY, New York, June 16, 2016: A new research report on the global market for mobile biometrics has been recently added to the vast repository of ResearchMoz.us. The study, titled “Global Mobile Biometrics Market 2016-2020,” projects this market to rise at a CAGR of 103.30% during the period from 2016 to 2020.
According to the market report, the advancements in technologies have boosted the adoption of mobile banking among consumers as it provides a convenient banking solution with high-level security. This shift in the preference of consumers is expected to fuel the demand for mobile devices equipped with biometric systems in the coming years significantly.
The research report has studied the worldwide market for mobile biometrics on four fronts: Region, type of technology, application, and end user. Based on the type of technology, the market has been categorized into facial recognition, fingerprint recognition, and voice recognition. The fingerprint recognition segment leads the overall market and is expected to maintain its dominance throughout the forecast period. Analysts project the segment to reach US$12 bn by 2020. By the same time, the facial recognition segment and the voice recognition segment are likely to attain a value of US$11 bn and US$1 bn, respectively.
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Based on application, the market has been classified into authentication, access control, and mobile payment. In 2015, the mobile payment segment led the global market with a share of over 50% of the total demand for mobile biometrics. The segment is likely to retain its position in this market over the forecast period, states the research report.
Based on end user, the worldwide mobile biometrics market has been segmented into enterprises and individual consumers. The individual consumers segment is anticipated to emerge as the leading end user of mobile biometrics over the forecast period, notes the market study.
Regionally, the Americas, the Middle East and Africa, Europe, and Asia Pacific have been identified as the key markets for mobile biometrics in this study.
The competitive landscape of the global market for mobile biometrics has also been analyzed in this report to determine the current market hierarchy. According to it, the worldwide market is highly competitive and fragmented, owing to the presence of a number of small as well as large vendors. Google, NEC, 3M Cogent, Apple, and Nuance Communications are the leading players in this market.
Other significant market participants profiled in this study are IDEX ASA, Cognitec Systems, HP, ImageWare Systems, BioEnable, Fareclock, Dell, Samsung, Precise Biometrics, VoiceTrust, BioID, Kairos, KeyLemon, AGNITiO, ASUS, Fingerprint Cards, Suprema, AMD, Dermalog Identification Systems, VoicePass, SpeechPro, Fulcrum Biometrics, Intel Security, Diamond Fortress, ValidSoft, Allied Time USA, Windows, VoiceVault, BIO-key, FacialNetworkm, Animetrics, Lenovo, and M2SYS Technology.
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