Mobile Biometrics: Introduction
- Biometrics is a highly suitable method to identify and authenticate individuals in a reliable and rapid way through unique biological characteristics
- The most well-known techniques include fingerprints, face recognition, iris, palm, and DNA-based recognition
- Biometrics is a pattern recognition technique that gathers a specific type of biometric data from a person, focuses on a relevant feature of that data, compares that feature to a preset group of attributes in its database and subsequently, performs an action based on the accuracy of the comparison
- Mobile face recognition is used to secure hundreds of millions of smartphones around the world. Cloud-based access control is helping secure buildings across the country, ranging from high-rise apartments to commercial property and industrial facilities.
- Passwords no longer provide the user experience or security needed for consumers presently. With the report of every new data breach, more login credentials are seeping into the dark web, where they can be purchased by cybercriminals for identity theft and account takeover.
- The role of biometric authentication is expanding as it provides higher levels of identity assurance, improves customer experience and conversion rates, and better protects online accounts from identity theft and account takeover
Rise in demand for safety and security in public and private sectors
- Increased public acceptance, massive accuracy gains, a rich offer, and falling prices of sensors, IP cameras, and software make it all the easier to install biometric systems
- The world is more connected than ever before and every smartphone user wants to be sure about personal data security in the digital age. Passwords are currently much easier to hack and harder to remember, as they increase in complexity. Usage of biometrics to replace passwords has increased significantly as the technology has proven to be much more convenient and less time-consuming than passwords. Mobile phones and biometrics are a winning combination in the mass market, enabling the technology to become much more widely accepted.
- The mobile biometrics market is driven by with the active use of smartphones with pre-installed sensors
- Likewise, the use of biometric characteristics for authentication are likely to be used not only for unlocking mobile devices but also for organizing multi-factor authentication and instant confirmation of electronic payments
North America to Hold Notable Market Share
- Biometric applications in the security and government sectors of North America are driving the market in the region. Canada is an expanding market in the region.
- The market in Asia Pacific is estimated to expand significantly. Government initiatives, such as smart cities, Digital Cards, Government registrations such as AADHAR in India and China’s (China Resident Identity Card), are also boosting the share held by Asia Pacific in the global market.
- The mobile biometric market in Europe is also estimated to expand at a considerable pace in the near future
- The future of digital payment is parallel to biometric technologies. Major banking facilities are in favor of biometrics, which is secure, simple to use, and enhances customer experience.
- Frequent cyber-attacks and data breaches are also boosting the adoption of biometric authentication
Key Players Operating in Global Mobile Biometrics Market
- Apple Inc.
- Nuance Communications
- Safran SA
- M2SYS Technology
- 3M Cogent
Global Mobile Biometrics Market Research Scope
Global Mobile Biometrics Market, by Component Design
Global Mobile Biometrics Market, by Type
- Facial Recognition
- Voice Recognition
- Retina Scan
- Signature Recognition
Global Mobile Biometrics Market, by Application Area
- BFSI(Banking Financial Services and Insurance)
- Government Initiative.
- IT and Telecom
- Workforce Management
- Travel And Migration
- Transportation and Logistic
Global Mobile Biometrics, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.