Future Analysis For Mobile Biometric Security and Service Market Share Forecast By 2020 – 2027
Mobile Biometric Security and Service Market Share Scenario:
According to the latest reports published by Market Research Future (MRFR), the global Mobile Biometric Security and Service Market Share will grow at around 35% CAGR with a market valuation of USD 45 Bn. The thorough penetration of the smartphones, tablets, PCs, etc. has propelled the growth of biometric security and the same is expected to grow further during the forecast period (2020-2027).
Some of the factors that can push the market for mobile biometrics are cyber safety, economical in terms of time, convenience, reliability, etc. Private enterprises and government organizations are adopting mobile biometrics to increase productivity in sectors such as financial service, healthcare, etc. which is helping the manufacturers to tap growth opportunities.
Other factors which may adversely affect the market growth are lack of awareness, high cost associated with some features such as retinal scanning and iris recognition, etc.
The COVID-19 pandemic disruption is estimated to transform the Mobile Biometric Security and Service Market Share in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Mobile Biometric Security and Service Market Share meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
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Apple Inc. (U.S.), 3M Cogent, Inc. (U.S.), and Precise Biometrics (Sweden), and M2SYS Technology (U.S.), Nuance Communications, Inc. (U.S.), Safran SA (France), NEC Corporation (Japan), Crossmatch (U.S.) BIO-key (U.S.), Aware Inc. (U.S.), Applied Recognition, Inc. (Canada), and EyeVerify, Inc. (U.S.), among others.
· By type, the market has been segmented into fingerprint recognition, face recognition, voice recognition, and, iris recognition. Iris recognition is the next big thing in the market which is more secure than fingerprint recognition.
· By component, the market is segmented into hardware (fingerprint reader, Scanners, camera), and, software (computer software).
· By platform, the market has been segmented into android, and, iOS (formerly iPhone OS). Both the segments possesses the potential for growth owing to exemplary market penetration. If shareholding in the market is to be considered, the demand and supply of android OS are more because of factors like user-friendly interface, low cost, etc.x`
· By industry, the market is segmented into banking and finance, law enforcement, military and border control, healthcare, and, government organization.
By region, the market has been segmented into North America, Asia Pacific, Europe, and, Rest-of-the-World (RoW). The Asia Pacific segment will be one of the dominators of the market due to rise in security concerns coupled with exponentially increased penetration of mobile phone and electronic gadgets market. This region includes the countries with the highest demand for mobile phones as well as the prominent manufacturers of mobile phones. Therefore, the demand for mobile biometrics security and service will be fueled by a boom in the mobile phone market. Other factors responsible for the bullish trend in mobile biometrics security and service market are innovation in biometrics, introduction of next-gen technology, etc.
North America and Europe segments will exhibit an upward trend in terms of market growth owing to governments’ initiatives to support cybersecurity. The government in these regions are keen on strengthening the security infrastructure for digital platforms which has fuelled the market growth for mobile biometrics. The growing number of portable devices such as e-passport, cashless payments, etc. are being connected to the internet and services which in turn is propelling the expansion of the market.
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Table of Contents:
1 Market Introduction
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
2.4.3 Market Crackdown & Data Triangulation
3 Global Mobile Biometric Security & Service: Overview
3.1.2 Market Segmentation Of Mobile Biometric Security & Service
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