The Mobile Biometrics Market is expected to
grow from USD 4.03 Billion in 2015 to USD 49.33 Billion by 2022, at a CAGR of
29.3% between 2016 and 2022. The industrial consensus on developing
intelligence in mobile devices drives the use of biometric technology. In the
last few years, most of the smart phone companies have launched
biometrics-enabled phones. While the focus is currently on fingerprint
recognition technology, the market is trending toward advanced biometric
technologies such as face, voice, iris, and others.
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Digital security consultants Biometric hardware providers, including regional equipment manufacturers, sensor manufacturers, battery manufacturers, and camera suppliers Software dealers & distributors Cloud service providers Biometrics associations and alliances Research institutions and organizations Market research & consulting firms
The consumer electronics
industry led the mobile biometrics market in 2015. The finance and banking
industry is expected to grow at a prominent growth rate during the forecast
period. The increasing size of mobile transactions and the growing e-commerce
supports the growth of mobile biometrics in these industries.
Economy modernization initiatives in
emerging countries and government support are the major factors contributing to
the growth in APAC. In addition to this, the governments of several Asian
countries actively promote and adopt biometric technologies. India has
introduced projects such as smart cities, e-governance, and digital India,
where mobile biometrics technology is expected to play a big role. China
introduced the new China Resident Identity Card Law. Considering these
developments, the mobile biometrics market is expected to flourish in APAC in
the coming years.
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