Spike in Security Breaches to Drive Global Mobile Biometrics Market at 10.3% CAGR 2016-2020

Published Date : Jun 27, 2016

Albany, NY, June 27, 2016: MarketResearchReports.biz has recently added a new research report that highlights the market drivers and restraints impacting the global mobile biometrics market. The research report, titled “Global Mobile Biometrics Market 2016-2020,” provides a clear understanding of the market dynamics and trends. The report also includes a comprehensive review of the investment flow in the recent past in the global mobile biometrics market and its impact on the current market dynamics. Furthermore, it evaluates the segments of the global biometrics market using a SWOT reports. This market measurement tool allows the researchers to determine the strengths, weaknesses, opportunities, and threats shaping the future of the segments of the overall market. 

A growing number of security breaches and increasing threats of terrorism across the globe have gripped organizations and enterprises in a miasma of fear. In an effort to avert cases of identity theft, individuals are also trying to safeguard their homes and handheld devices in the best way possible. Previously, PINs, identity badges, and numeric keypads were used to secure everything from spaces to data. However, technological advancements and a high penetration of mobile devices has given birth to mobile biometrics. These systems allow access to hardware or entry to a place by authenticating identification based on a certain biological factor such as eyes, face, fingerprint or voice amongst others.

According to the research report, the global mobile biometrics market is expected to expand at a CAGR of 10.3% between 2016 and 2020. The positive sentiment is anticipated to continue owing to the simplicity of single sign-on, increasing the popularity of near field communication-based payments, and development of multimodal biometrics systems. Furthermore, the deployment of facial recognition in the BFSI sector, voice biometrics in the financial sector, and fingerprint biometrics in the government and healthcare sector are expected to propel the global mobile biometrics market in the coming years. However, the growth of this market is being restricted by the stiffening competition from non-biometric technologies, rising number privacy issues, error rates, and the exceptionally high TCO or total cost of ownership.

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The extensive research report segments the global mobile biometrics market on the basis of application, technology, end users, and geography. The applications of mobile biometrics are seen in areas such as access control, authentication, and mobile payment. On the basis of technologies, this market has been divided into voice recognition, fingerprint recognition, and facial recognition. The end users of mobile biometrics are individual consumers and enterprises. Geographically, this market is segmented into the Americas, the Middle East and Africa, Europe, and Asia Pacific.

Some of the important players molding the future of the global mobile biometrics market are Nuance Communications, 3M Cogent, Google, Apple, and NEC. The report includes a special chapter on company profiles and assesses their financial overview, research and development strategies, expansion plans, and strategic mergers and acquisitions of these companies operating in the global mobile biometrics market in the coming few years. Furthermore, the report also includes an assessment of the regulatory framework influencing the overall global mobile biometrics market and an explanation of the competitive rivalry in the market.

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