LONDON, Dec. 14, 2016 /PRNewswire/ -- "Increase in mobile transactions is driving the growth of the mobile biometrics market"
The mobile biometrics market is expected to grow from USD 4.03 billion in 2015 to USD 49.33 billion by 2022, at a CAGR of 29.3% between 2016 and 2022. The market is driven by factors such as the growing demand for smart devices, government initiatives, and increasing penetration of e-commerce and mobile transactions.
"Software component is expected to grow at a high rate during the forecast period"
The market for biometrics software, which is the major building block of mobile biometric devices, is expected to grow at the highest rate during the forecast period. Biometric device manufacturers are actively investing in software, and the introduction of cloud delivery model in the biometrics industry is further expected to drive the market at a high rate. The use of mobile apps and cloud delivery model by industries such as banking, healthcare, and travel & immigration are the key factors contributing to the growth of the overall mobile biometrics software market.
"APAC to offer high-growth avenues for the mobile biometrics market during the forecast period"
The mobile biometrics market in APAC is expected to witness prominent growth. The APAC region promises high growth in mobile biometrics as many countries are actively using biometrics for national programs such as voter registration, national ID, and others. India and China are leading in this field as they are developing countries and the most populous nations. There is significant growth in the adoption of biometrics in the consumer electronics industry, driven by the increasing use of smartphones by the people. The high factors such as demand for consumer electronics, emerging economies, large population, and so on make APAC a lucrative market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the industry. The breakup of the profile of primary participants is given below:
- By Company Type: Tier I ¬¬– 20%, Tier II – 45%, and Tier III – 35%
- By Designation: C-Level Executives – 33%, Directors – 45%, and Others – 22%
- By Region: North America – 45%, Europe – 22%, APAC – 22%, and RoW –11%
The major companies in the mobile biometric ecosystem profiled in this report are as follows:
1. Apple Inc. (U.S.)
2. Nuance Communications, Inc. (U.S.)
3. Safran SA (France)
4. M2SYS Technology (U.S.)
5. 3M Cogent, Inc. (U.S.)
6. Precise Biometric (Sweden)
7. Crossmatch (U.S.)
8. BIO-key (U.S.)
9. Aware Inc. (U.S.)
10. Applied Recognition, Inc. (Canada)
11. EyeVerify, Inc. (U.S.)
12. Fulcrum Biometrics, LLC (U.S.)
Objectives of Report
- To define, describe, and forecast the global mobile biometrics market on the basis of components, industries, authentication modes, and geography
- To forecast the market size, in terms of value, for various segments with regard to four main regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW)
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the mobile biometrics market
- To strategically profile the key players and comprehensively analyze their market share and core competencies, along with the detailed competitive landscape for the market leaders
- To study the complete value chain and allied industry segments and perform a value chain analysis of the global mobile biometrics market
- To analyze the competitive developments such as joint ventures, mergers & acquisitions, new product developments, and research & development (R&D) in the mobile biometrics market
- To track the competitive intelligence from company profiles, key player strategies, and game-changing developments such as product launches and acquisitions
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