Mobile Biometrics Market by Component (Hardware, Software, Services); by Type (Fingerprint Scan, Voice Recognition, Facial Recognition, Others); by Industry Vertical (BFSI, Consumer Electronics, Government, Military & Defense, Others); and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2022 to 2027

The global Mobile Biometrics market gathered revenue around USD 20.5 billion in 2021 and market is set to grow USD 90.2 billion by the end of 2027 and is estimated to expand at a modest CAGR of 25.9% during the prediction period 2022 to 2027.

Biometrics devices for mobile phones or externally incorporated into hardware can be used for biometric formalities through portable biometrics devices. Enterprises and government bodies use these for authentication and identity verification purposes. Furthermore, smartphones feature technologies that facilitate secure mobile transactions as well as access control.

Global Mobile Biometrics Market Dynamics:

The demand for mobile biometrics market is anticipated to grow in the forecast period due to factors such as the increasing popularity of Bringing Your Device (BYOD) systems and the growing mobile-based commerce market. Although data breach concerns may curtail market growth, privacy concerns may make it difficult. Nevertheless, growing adoption among enterprises and government bodies will introduce tremendous growth opportunities for the mobile biometrics market in the near future.

In addition to this, the increasing adoption of biometrics in smartphones, mobile biometrics is projected to be the major factor helping to drive the growth of the global mobile biometric market during the forecast period. The increasing penetration of mobile devices and the increasing number of mobile transactions are other factors expected to drive growth in the target market. Additionally, increasing government initiatives to promote the use of biometrics, coupled with the large-scale adoption of electronic verification systems are some of the other factors expected to drive revenue growth of the global mobile biometrics market. The privacy & data breach concerns and the high cost of the devices are several factors that is expected to hamper the growth of the mobile biometrics Industry.

The report also provides an in-depth analysis of mobile biometrics market dynamics such as drivers, restraints, opportunities, and challenges:

Drivers

• Increasing government initiative
• Rising adoption of online payments
• Increased use of mobile biometrics in crime identification

Restraints

• Privacy and Data Breach Concerns

Opportunities

• Biometrics and mobile e-commerce

Challenges

• Biometric data protection

Report Coverage

Based on the technology, the fingerprint scan segment in the mobile biometrics market has a significant market share during the forecast period owing to the wide use of security and reliable authentication

Based on the technology, the mobile biometrics industry has been segmented into fingerprint scan, voice recognition, facial recognition, and others. The fingerprint scan of the mobile biometrics market has a significant market share during the forecast period owing to the wide use of security and reliability authentication. Moreover, it is a standard security feature on most smartphone models, helps in user identification and authentication and prevents unauthorized access to various smartphone apps and confidential data and information.   

Based on region, the Asia Pacific region is growing at the highest CAGR during the forecast period

The Asia Pacific region is growing at the highest CAGR during the forecast period owing to the increasing online payments in the countries such as India and China. These countries are expected to be one of the significant drivers for the growth of the mobile biometrics market. For instance, according to secondary sources, in 2020, the total transaction value of mobile payments increased to USD 67.6 trillion, around 21% growth from the previous year. Moreover, the increasing government initiatives, as well as high penetration of smartphones, contribute to the growth of the market in the region.

Some of the prominent players in the Mobile Biometrics Market include:

• BIO-key International
• NEC Corporation
• IDEMIA
• Shenzhen Goodix Technology Co., Ltd.
• Apple Inc.
• Nuance Communications, Inc.
• Safran SA
• M2SYS Technology
• OneVault
• HID Global Corporation
• FUJITSU
• BioCatch
• Socure
• 3M Cogent, Inc.
• Precise Biometrics

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

By Component:

• Hardware
• Software
• Services

By Type:

• Fingerprint Scan
• Voice Recognition
• Facial Recognition
• Others

By Industry Vertical:

• BFSI
• Consumer Electronics
• Government
• Military & Defense
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

COVID-19 Impact on the Mobile Biometrics Market Analysis:

The COVID-19 pandemic impacted various industries such as oil & gas, retail, manufacturing and others due to the strict lockdown imposed by the government across the globe. The supply chain of products and services was disrupted in the pandemic. Despite the ease of lockdowns across the globe and the implementation of lockdown 2.0 in some countries, the market conditions will remain different for businesses of all sizes and types. As a result, organizations will strive to adopt security technologies to detect, reduce, and prevent viruses. In the global biometrics market, many new use-case applications are being created rapidly, as are multiple biometric modalities across physiological and behavioural factors. Furthermore, the COVID-19 pandemic and changing user preferences for multiple types of biometric identity authentication will continue to drive the market growth.

*Note: A detailed analysis is specific to the mobile biometrics market will be provided in the report

The report also provides an in-depth analysis of key trends in the mobile biometrics market:

• The usage of banking and financial services through online portals is growing at a high pace, which creates a demand for advanced authentication to protect the critical data of customers related to the banking organization

The report also provides an in-depth analysis of recent news developments and investments:

• In May 2021, IDEMIA, a worldwide leader in Augmented Identity, collaborated with Microsoft to help its new Microsoft Azure Active Directory (Azure AD) verifiable credentials identification solution, now in public preview. Azure AD verifiable credentials allow companies to verify information about individuals, which include their education, professional or citizenship certifications, without accumulating or storing their data.  
• In March 2019, AppGuard released TRUSTICA Mobile, a consumer mobile device communication app with military-grade security, including iris, facial, and fingerprint biometrics for identification and encryption keys that change each time the app is used.

Key Points Covered in Mobile Biometrics Market Study:

• Growth of Mobile Biometrics in 2022
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Mobile Biometrics and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Mobile Biometrics Consumption Analysis
•  Mobile Biometrics Production Analysis
•  Mobile Biometrics and Management