Global Mobile Biometrics Market 2017-2021 - Market to Grow at a CAGR of 79.17%

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Oct 24, 2017, 10:30 ET

DUBLIN, October 24, 2017 /PRNewswire/ --

The "Global Mobile Biometrics Market 2017-2021" report has been added to Research and Markets' offering.

The global mobile biometrics market will post a CAGR of 79.17% during the period 2017-2021.

Global Mobile Biometrics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

According to the report, one driver in the market is increase in the digitization of banking services. The increased use of smartphones and tablets has led to a digital reformation in the banking sector. The BFSI sector is one of the prominent users of portable devices (for digital payments and cashless financial transactions). With the growing transaction volumes and the introduction of new digital payment solutions, the banking sector is challenged with the need to keep the magnitude of fraudulent activities low, without compromising on the convenience of the customers.

One trend in the market is NFC-based payments. Near-field communication (NFC) works if two devices are placed within a few centimeters to exchange data. It requires both devices to be equipped with an NFC chip. Apple is partnering with various financial institutions to introduce NFC-powered mobile payments. Before Apple launched NFC mobile payments, this technology had been adopted by many Android- and Microsoft Windows-based smartphones.

Further, the report states that one challenge in the market is high cost of the mobile biometric technology. The high cost of mobile biometric solutions is the major challenge faced by the global mobile biometrics market. Though the biometric readers and scanners in mobile devices offer numerous advantages over their counterparts, their TCO, which includes the implementation and maintenance costs of biometrics systems, is high. The adoption of biometric technologies in mobile devices is often accompanied by the costs associated with the implementation of application software, system integration, and middleware.

Key vendors

BioID
Crossmatch
HID Global
NEC
Nuance Communications

Other prominent vendors

3M Cogent
Animetrics
Apple Pay
AuthenticID
Aware
BioEnable
BIO-key International
BioRugged
Cognitec Systems
Daon
Egis Technology
EyeLock (VOXX International)
EyeVerify
FacePhi
Fingerprint Cards
Fujitsu
Fulcrum Biometrics
Google Wallet
IDair
IDEX
ImageWare Systems
LG Innotek
M2SYS Technology
OT-Morpho
Paypal
Precise Biometrics
Samsung Pay
Signicat
WoVo Identity Solutions

Key Topics Covered:

Executive Summary
Scope Of The Report
Research Methodology
Introduction
Market Landscape
Market Segmentation By Application
Market Segmentation By Technology
Regional Landscape
Decision Framework
Drivers And Challenges
Market Trends
Vendor Landscape
Major Vendor Profiles
Mergers And Acquisitions
Appendix

For more information about this report visit https://www.researchandmarkets.com/research/t646q2/global_mobile

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SOURCE Research and Markets