As per Market Research Future (MRFR), the global Mobile Biometric as a Service Market is projected to reach USD 46 billion at a CAGR of 32% from 2016-2022 (forecast period). The report provides a systematic and in-depth review of the effect of the COVID-19 pandemic on the global mobile biometric security and service industry.
Mobile devices such as smartphones, tablets, and laptops have become a major computing platform for users to communicate and use as a source of entertainment, providing social connectivity. Mobile devices are transforming the way users access personal and business information. Some of the major security issues are also alarming due to the growing usage of internet services and mobile payments.
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Market Dynamics
Mobile biometrics includes conducting biometric functionality on a mobile device such as a smartphone or tablet. A mobile device can achieve biometric functionality by incorporating sensors or biometric hardware. Mobile biometrics can perform individual identification based on a person's physiological characteristics, such as fingerprints, face, iris, and voice, among others. Mobile biometrics is a user-friendly system that provides high security and offers a range of benefits such as accurate identification, scalability, versatility, time-saving, and convenience. Many private and government entities adopt mobile biometrics to improve productivity in various sectors, such as financial services, healthcare, and border controls. These are the main factors that have served as drivers for the mobile biometric security and service industry.
Nevertheless, lack of awareness and misinterpretation of mobile biometrics technology is restraining the mobile biometrics security and service industry's growth. Mobile biometrics are costly in some cases, such as retinal scanning and iris recognition, which are also some of the limiting factors for the mobile biometric security and service industry.
Market Segmentation:
The global market for mobile biometric security and service has been segmented based on type, component, platform, and industry.
By type, the global Mobile Biometric as a Service Market has been segmented into fingerprint recognition, voice recognition, face recognition, Iris recognition, among others.
By component, the global Mobile Biometric as a Service Market has been segmented into fingerprint readers, scanners, cameras, and computer software, among others.
By platform, the global Mobile Biometric as a Service Market has been segmented into Android and iOS.
By industry, the global Mobile Biometric as a Service Market has been segmented into banking and finance, law enforcement, healthcare, military and border control, government organization, among others.
Regional Analysis:
Region-wise, the global Mobile Biometric as a Service Market has been segmented into North America, Europe, Asia Pacific, and the rest of the world
North America is dominant in the mobile biometric security and service industry due to the rise in homeland security and government initiatives to tackle cybercrime. Europe is expected to see healthy growth in the mobile biometric security and service industry due to government policies and initiatives to improve the security infrastructure for mobile devices. The mobile biometrics market is also driven by a large number of mobile devices connected to the Internet and services such as e-passports and mobile payments.
The Asia Pacific is another major region in the Mobile Biometric as a Service Market due to increasing safety and security issues with an increase in smartphone and electronic gadget numbers in regions such as China and India. Technology developments in the area, such as the Internet, mobile devices, computer applications, and biometric innovation, lead to the growth of the mobile biometric security and safety market.
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Key Players:
Notable players in the market of Mobile Biometric Security and Service are Apple Inc. (U.S.), 3M Cogent, Inc. (U.S.), and Precise Biometrics (Sweden), and M2SYS Technology (U.S.), NEC Corporation (Japan), Nuance Communications, Inc. (U.S.), Safran SA (France), Crossmatch (U.S.) BIO-key (U.S.), Aware Inc. (U.S.), EyeVerify, Inc. (U.S.), Applied Recognition, Inc. (Canada), among others.
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