The global mobile biometrics market revenue was around US$ 30.1 billion in 2022 and is estimated to reach US$ 186.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 22.5% during the forecast period from 2023 to 2031.
Mobile biometric authentication is a kind of authentication that utilizes biometrics to determine and validate the identity of a person trying to access a mobile application. Numerous methods, such as face recognition, fingerprint readers, voice recognition, and others, can be used for identification using these mobile biometric devices.
Market Driving Factors
Increasing adoption of biometric devices is estimated to drive market growth. This is mainly due to the expansion of digital media and online content delivery, creating conventional authentication methods like signatures and text-based credentials susceptible to modern cyber threats. Furthermore, this trend increases the demand for mobile biometrics, as users seek immediate and more safe authentication methods amid digital services proliferation.
Improved security and assurance are expected to drive the market growth. This is mainly owing to the biometric solutions provide a high level of protection by verifying special physical attributes like facial features, fingerprints, and voice patterns, offering greater assurance of a person's identity compared to conventional password-based authentication methods. Furthermore, biometric authentication presents an additional layer of security, making it more difficult for fraudsters to access unauthorized accounts, while traditional credentials can be compromised via data breaches.
Complicated installation and infrastructural requirements are estimated to hinder market growth.
Regional Analysis
North America dominated the market in terms of the largest shares and is predicted to maintain its dominance. This can be majorly attributed to the surge in the concentration of mobile biometric solution dealers in the region. Furthermore, the rise in demand for mobile biometrics in various industries, such as retail, BFSI, e-commerce, and healthcare is predicted to propel the market growth.
Asia Pacific is estimated to dominate the market in terms of revenue. This is primarily owing to the lucrative existence of key players in major economies such as South Korea, Japan, and China. Furthermore, the rise in demand for computers, smartphones, and tablets is creating substantial possibilities for manufacturers of mobile biometric solutions in the region.
Segmentation Insights
Component Insight
The hardware segment is expected to dominate the market in terms of the growth rate. This is mainly due to the surging adoption of these technologies in different smartphones. Additionally, the availability of low-cost mobile devices with fingerprint biometrics makes it reasonable for the majority of customers across the world. Furthermore, the high production of inexpensive mobile devices with fingerprint recognition systems tends to boost market growth.
Authentication Mode Insight
The single-factor authentication segment dominated the market in terms of the growth rate and is expected to maintain its dominance. This can be majorly attributed to the easily deployable timekeeping and employee monitoring applications of single-factor authentication solutions.
The multi-factor authentication segment is estimated to dominate the market in terms of the highest growth. This is mainly due to the increase in number of cyber-attacks and privacy problems.
Technology Insight
The face recognition segment is predicted to dominate the market in terms of growth rate. This is owing to the enhancement of facial recognition algorithms and advances in the field of machine learning.
The fingerprint recognition segment dominated the market in terms of the rate and is predicted to maintain its dominance. This can be attributed to the fingerprint recognition systems being easier to maintain and deploy.
Prominent Companies
Segmentation Outline
The global mobile biometrics market segmentation focuses on the Component, Authentication Mode, Technology, Industry Vertical, and Region.
By Component
By Authentication Mode
By Technology
By Industry Vertical
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL MOBILE BIOMETRICS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: MOBILE BIOMETRICS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL MOBILE BIOMETRICS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL MOBILE BIOMETRICS MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
5.4 SERVICE
6 GLOBAL MOBILE BIOMETRICS MARKET, BY AUTHENTICATION MODE
6.1 OVERVIEW
6.2 SINGLE FACTOR AUTHENTICATION
6.3 MULTI-FACTOR AUTHENTICATION
7 GLOBAL MOBILE BIOMETRICS MARKET, BY TECHNOLOGY
7.1 OVERVIEW
7.2 FINGERPRINT RECOGNITION
7.3 VOICE RECOGNITION
7.4 FACE RECOGNITION
7.5 OTHERS
8 GLOBAL MOBILE BIOMETRICS MARKET, BY INDUSTRY VERTICAL
8.1 OVERVIEW
8.2 PUBLIC SECTOR
8.3 BFSI
8.4 HEALTHCARE
8.5 IT AND TELECOMMUNICATION
8.6 OTHERS
9 GLOBAL MOBILE BIOMETRICS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL MOBILE BIOMETRICS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 NEC CORPORATION
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 NUANCE COMMUNICATIONS
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 HID GLOBAL CORPORATION
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 AWARE INC.
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 3M
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 BIO-KEY INTERNATIONAL
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 APPLE INC
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 SAFRAN INC.
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 PRECISE BIOMETRICS AB
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 M2SYS TECHNOLOGY
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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