The global mobile biometrics market is expected to post a CAGR of more
than 22% during the period 2019-2023, according to the latest market
research report by Technavio.
However, the market’s momentum will decelerate in the coming years
because of the decrease in year-over-year growth.
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Technavio has published a new market research report on the global mobile biometrics market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global mobile biometrics market
is the growing demand for m-commerce. The rise in the digitization of
banks over the past few years has led to a significant increase in the
number of mobile payment transactions. Moreover, the presence of mobile
wallet enterprises such as Google and e-commerce companies such as eBay,
Amazon, and Alibaba have also increased significantly. Therefore, with
the increasing demand for m-commerce, ensuring secure transactions has
become one of the prime areas of importance for enterprises and
consumers. This will lead to the growth of the global mobile biometric
market during the forecast period.
As per Technavio, the rise of 3D and in-display fingerprint sensors will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
mobile biometrics market 2019-2023 research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.
Global mobile biometrics market: Rise of 3D and
in-display fingerprint sensors
The mobile biometrics market is set to witness significant growth of 3D
sensors and in-display fingerprint sensors. Smartphone manufacturers are
increasingly integrating in-display fingerprint sensors with their
smartphones as it offers flexibility to place the fingerprint sensor
anywhere on the device. Enhanced security for identity authentication
and improved convenience will be some of the key factors driving the
in-display fingerprint sensors market.
“Apart from the rise of 3D and in-display fingerprint sensors, other
factors such as the high demand for multimodal biometric solutions, and
the emergence of behavioral biometrics will have a significant impact on
the growth of the mobile biometrics market size during the forecast
period,” says a senior analyst at Technavio.
Global mobile biometrics market: Segmentation
analysis
This market research report segments the global mobile biometrics market
by application (access control, mobile payment, and authentication),
technology (fingerprint recognition, face recognition, voice
recognition, and others) and geographic regions (APAC, Europe, MEA,
North America, and South America).
The APAC region led the market in 2018, followed by Europe, North
America, South America, and MEA respectively. The market growth in APAC
can be attributed to a rise in the introduction and sale of
biometrics-enabled smartphones. This is further supported by the rising
adoption of digital payments and increasing government initiatives to
adopt biometric technology for the collection of confidential
information of citizens.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190530005041/en/