The rapid popularity of monetary transactions done via a mobile device will act as one of the prominent growth drivers of the global mobile biometrics market.
The emergence of different mobile wallet enterprises that are expanding their global reach by offering discounts to their customers will encourage usage of mobile-based monetary transactions. The availability of affordable smartphones has further fueled the demand for m-commerce. To ensure convenience and security, smartphone manufacturers are increasingly integrating biometric solutions in their product offerings.
Governments in the emerging economies are encouraging the use of mobile banking solutions to offer financial services to the unbanked population. However, the market's growth momentum will decelerate because of the decline in year-over-year growth.
Demand for mobile biometrics to tackle fraud
The growing focus on ensuring security during data transfers have increased the demand for mobile authentication services. Mobile phone manufacturers are increasingly implementing biometric solutions in their products to ensure security in their offerings. For instance, mobile payment solutions providers such as Apple Pay request their customers to authenticate via biometrics.
Privacy concerns related to storing biometric data
The probabilities of a data breach in biometrics are high when compared with other digital authentication options such as passwords or tokens. There is a high chance of enterprises storing critical biometric information of users, which increases privacy concerns associated with the storage of biometric data. This is expected to pose a challenge to the growth of the global mobile biometrics market size.
The market appears to be fragmented with several players occupying the market share. Companies such as Egis Technology Inc. and Fingerprint Cards AB have intensified competition. Factors such as the growing demand for m-commerce and the demand for mobile biometrics to tackle fraud will provide significant growth opportunities for mobile biometrics companies.
Egis Technology Inc., Fingerprint Cards AB, Precise Biometrics AB, Shenzhen Goodix Technology Co. Ltd., and Synaptics Inc. are some of the major companies covered in this report.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Access control - Market size and forecast 2018-2023
- Mobile payment - Market size and forecast 2018-2023
- Authentication - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY TECHNOLOGY
- Comparison by technology
- Fingerprint recognition - Market size and forecast 2018-2023
- Face recognition - Market size and forecast 2018-2023
- Voice recognition - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by technology
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Middle East and Africa - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
- Behavioral biometrics
- Rise of 3D sensors and in-display fingerprint sensors
- Multimodal biometrics solutions
PART 13: VENDOR LANDSCAPE
- Landscape disruption
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Egis Technology Inc.
- Fingerprint Cards AB
- Precise Biometrics AB
- Shenzhen Goodix Technology Co. Ltd.
- Synaptics Inc.
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