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.
This press release features multimedia. View the full release here:
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
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.
Looking for more information on this market? Request
a free sample report
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
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team