LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global mobile biometrics market is expected to grow at a CAGR of more than 79% during the forecast period.
This research report titled ‘Global Mobile Biometrics Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Amrita Choudhury, a lead analyst at Technavio for enterprise application research, “Various sectors, such as healthcare and defense, and enterprises are increasingly using the mobile fingerprint recognition technology for user verification. Also, with an increase in the adoption of residential security equipment, there is a proportional increase in the adoption of mobile fingerprint recognition technology to authenticate homeowners and to reduce the chances of violent attacks and thefts.”
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The market research analysis categorizes the global mobile biometrics market into three major product segments. They are:
- Fingerprint recognition
- Voice recognition
- Facial recognition
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Global mobile biometrics market by fingerprint recognition
Fingerprint recognition is very popular on mobile devices to authenticate transactions, and protect customer information. In 2016, fingerprint technology was widely adopted in mobile devices for physical and logical access control purposes and mobile banking because of the low cost of the hardware systems and fingerprint readers and modules. The adoption of fingerprint identification is expected to decline during the forecast period because fingerprints can be recreated. For instance, in 2014, Chaos Computer Club could reconstruct an accurate thumb impression of an individual by using VeriFinger. Another reason for the decline is the shifting of focus toward the adoption of the vein recognition technology as it offers more security than the fingerprint recognition technology.
Global mobile biometrics market by voice recognition
The voice recognition technology has a low total cost of ownership (TCO) and is a user-friendly technology as it removes the need for a multitude of complicated passwords to gain access to secure transactions and systems. Moreover, the technology provides an additional layer of security (in addition to PINs and passwords), which increases its adoption in the government; automotive; healthcare; and banking, financial services, and insurance (BFSI) sectors.
A number of devices, including smartphones and mobile devices, are embedded with voice biometrics to improve the customer experience. Voice biometrics is getting integrated with the existing systems in the healthcare sector to maintain the privacy of electronic health records (EHRs) and to authenticate both patients and service providers.
“There is an increase in the use of mobile devices with apps for electronic prescribing, diagnosis and treatment, coding, and billing in the healthcare sector These mobile apps are integrated with voice biometrics to avoid unauthorized access to patient records. Voice biometrics enhance customer service with the implementation of voice e-signatures for confidential data,” says Amrita.
Global mobile biometrics market by facial recognition
The 3D facial recognition technology is an advanced method of using face grid technology, which provides more accuracy than 2D facial recognition. Because of this, it is highly adopted in mobile devices for identifying individuals in a faster manner compared with the other biometric technologies. As mobile devices have inbuilt cameras, the overall cost of deployment is less.
The adoption of the 3D facial recognition technology is expected to increase in the consumer electronics industry during the forecast period. For instance, LG Innotek has collaborated with Apple to manufacture 3D facial recognition cameras for iPhone 8. Since the facial recognition technology offers a quick and effective response for verifying the users, it is widely getting implemented in laptops and smartphones for user authentication.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- BioID
- Crossmatch
- HID Global
- NEC
- Nuance Communications
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