Industry Analysis and Opportunity Assessment
The latest industry research report on Mobile Biometrics Market by MRC provides a thorough analysis of the Global Mobile Biometrics Market. The report scrutinizes the market by different segments including regions, applications, competitive landscape,.
over the predicted time frame. This report provides 360 Degree perspective of the Mobile Biometrics industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.
key players in the global mobile biometrics market: BioID, Crossmatch, HID Global, NEC, and Nuance Communications.
Other Prominent Vendors in the market are: 3M Cogent, Animetrics, Apple Pay, AuthenticID, Aware, BioEnable, BIO-key International, BioRugged, Cognitec Systems, Daon, Egis Technology, EyeLock (VOXX International), EyeVerify, FacePhi, Fingerprint Cards, Fujitsu, Fulcrum Biometrics, Google Wallet, IDair, IDEX, ImageWare Systems, LG Innotek, M2SYS Technology, OT-Morpho, Paypal, Precise Biometrics, Samsung Pay, Signicat, and WoVo Identity Solutions.
Commenting on the report, an analyst from Technavios team said: One trend in the market is NFC-based payments. Near-field communication (NFC) works if two devices are placed within a few centimeters to exchange data.
It requires both devices to be equipped with an NFC chip. Apple is partnering with various financial institutions to introduce NFC-powered mobile payments.
Before Apple launched NFC mobile payments, this technology had been adopted by many Android- and Microsoft Windows-based smartphones.
According to the report, one driver in the market is increase in the digitization of banking services. The increased use of smartphones and tablets has led to a digital reformation in the banking sector.
The BFSI sector is one of the prominent users of portable devices (for digital payments and cashless financial transactions). With the growing transaction volumes and the introduction of new digital payment solutions, the banking sector is challenged with the need to keep the magnitude of fraudulent activities low, without compromising on the convenience of the customers.
Further, the report states that one challenge in the market is high cost of the mobile biometric technology. The high cost of mobile biometric solutions is the major challenge faced by the global mobile biometrics market.
Though the biometric readers and scanners in mobile devices offer numerous advantages over their counterparts, their TCO, which includes the implementation and maintenance costs of biometrics systems, is high. The adoption of biometric technologies in mobile devices is often accompanied by the costs associated with the implementation of application software, system integration, and middleware.
Biometrics refers to the verification and recognition of an individual based on one or more unique biological traits such as fingerprint, facial, iris, voice, and vein recognition. Mobile biometrics is a technology that measures and analyzes physiological patterns for the authentication or identification of a user to provide access to a mobile device.
Biometric solutions are widely adopted for the safety of data in mobile devices such as smartphones, tablets, and phablets. With the use of biometrics for mobile devices, it is possible to reduce forgeries and data thefts.
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