What is the current Mobile Biometrics Market size?

The Mobile Biometrics Market is projected to register a CAGR of 26% during the forecast period (2024-2029) Read More

Who are the key players in Mobile Biometrics Market?

Aware Inc., Precise Biometrics AB, Nuance Communications Inc., IDEMIA (Safran Identity & Security SAS) and Fingerprint Cards AB are the major companies operating in the Mobile Biometrics Market. Read More

Which is the fastest growing region in Mobile Biometrics Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Mobile Biometrics Market?

In 2024, the North America accounts for the largest market share in Mobile Biometrics Market. Read More

What years does this Mobile Biometrics Market cover?

The report covers the Mobile Biometrics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mobile Biometrics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Mobile Biometrics Market Trends

Statistics for the 2023 & 2024 Mobile Biometrics market trends, created by Mordor Intelligence™ Industry Reports. Mobile Biometrics trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Mobile Biometrics Industry

This section covers the major market trends shaping the Mobile Biometrics Market according to our research experts:

Mobile Banking is Expected to Hold a Significant Share

The utilization of banking and financial services through online portals is increasing at a high pace, which creates a demand for advanced authentication to protect the vital data of consumers associated with the banking organization. Furthermore, with the rise in online transaction and banking, the risk for fraud and potential exposure of personal information are ascending.
Owing to the adoption of online banking, mobile and e-banking are being increasingly used daily to transfer and perform a transaction, which creates potential avenues for cybercriminals to compromise a user’s account to extract money. With banking service providers investing in mobile app service to operate, the pressure to provide safe banking services through mobile apps persists. This is expected to influence the demand for the mobile biometrics market.
Facial recognition is expected to emerge owing to the release of mobile phones with facial recognition software (iPhone X). A few used cases are evident across the United Kingdom, by people who have upgraded their mobile banking apps compatible with the new iPhone facial recognition software. Banking giants like HSBC (HSBCnet app) have extended their touch ID biometric authentication to voice recognition, Selfie ID, and even log-in with a photo.

Understand The Key Trends Shaping This Market

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Asia-Pacific is Expected to Witness Rapid Growth

Growing mobile transaction in countries, such as India and China is expected to be one of the significant drivers for the mobile biometrics market in the region.
China is witnessing a high mobile transactional volume, which is expected to create a demand for authentication solutions, such as biometrics. For instance, as of October 2017, the mobile payment was recorded at CNY 81 trillion as compared to CNY 58.8 trillion in 2016.
The State Bank of India is planning to launch a multi-mode biometric authentication for its mobile applications. It will comprise of either fingerprint or face recognition or by using voice recognition software. In addition to this, the bank is also planning to use biometrics for various mobile banking products, including Unified Payment Interface transactions. With other banks to follow suit, it is expected to bolster the demand of the market in the region.