LONDON — (BUSINESS WIRE) — November 15, 2019 — The global mobile biometrics market is expected to post an incremental growth of USD 28.45 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global mobile biometrics market 2019-2023 (Graphic: Business Wire)
The increasing demand for m-commerce will be one of the major drivers in the global mobile biometrics market. In recent years, mobile payment transactions have witnessed a significant increase due to the rise in digitalization of banks. Moreover, the presence of mobile wallet for 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.
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As per Technavio, the rise of 3D sensors and in-display fingerprint sensors, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This 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 Sensors and In-Display Fingerprint Sensors
The rise of 3D sensors and in-display fingerprint sensors will be one of the critical trends in the global mobile biometrics market. In-display fingerprint sensors are one of the prime functions of the latest smartphones. This is because it offers flexibility to place the fingerprint sensor anywhere on the device. Moreover, enhanced security for identity authentication and improved convenience will increase the need for in-display fingerprint sensors. These factors will further propel the mobile biometrics market growth during the forecast period.
“The demand for mobile biometrics to tackle fraud will boost market growth during the forecast period. Enterprises are introducing biometric services to safeguard their customers from identity theft and enhance customer experience,” says a senior analyst at Technavio.
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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, and voice recognition), and geographical regions (North America, Europe, APAC, South America, and MEA).
The APAC region led the market share in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing penetration of smartphones and the growing popularity of mobile banking and mobile commerce in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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