The report forecasts the global mobile biometrics market to grow at a CAGR of 103.3% during the period 2016-2020.
One trend that will boost market growth if facial recognition biometrics is adopted in the BFSI sector. Facial recognition is likely to be used in consumer electronics for analyzing an individual's facial features to gain access to online transactions and applications. Facial recognition is considered one of the most reliable solutions for verifying an individual's identity. With an increase in the adoption of consumer electronics and growing acceptance of mobile payments, mobile commerce is gaining traction. Due to instances of identity theft and financial fraud, organizations are supporting the use of facial recognition in consumer electronics for identity verification on apps.
According to the report, a key growth driver for this market is the implementation of BYOD policies by companies which allows companies to use personal devices at work. This helps the employees in increasing their productivity and managing their travel time, thereby reducing the operational costs of companies since some costs, such as repair and maintenance costs, would no longer be applicable. Small and medium-sized enterprises worldwide are increasingly adopting BYOD policies to reduce their operational costs.
An increase in the mobile workforce has enabled small and medium-sized enterprises to have their employees across a given region, which in turn has boosted their sales and productivity.
Further, the report states that one challenge that could hamper market growth is the high total cost of ownership to implement and maintain biometric applications.
- 3M Cogent
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market landscape
PART 07: Emerging trends in the market
PART 08: Technology life cycle analysis
PART 09: Market segmentation by application
PART 10: Market segmentation by technology
PART 11: Market segmentation by end-user
PART 12: Geographical segmentation
PART 13: Buying criteria
PART 14: Market trends
PART 15: Market challenges
PART 16: Five forces analysis
PART 17: Vendor landscape
PART 18: SWOT analysis
For more information visit http://www.researchandmarkets.com/research/vcj6vf/global_mobile