Global Mobile Identification Market Size

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

Market Size of Global Mobile Identification Industry

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Mobile Identification Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.90 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Mobile Identification Market Companies

*Disclaimer: Major Players sorted in no particular order

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Mobile Identification Market Analysis

The Global Mobile Identification Market is expected to register a CAGR of 8.9% during the forecast period (2022-2027). During the pandemic, there has been a sudden push towards digital transformation, with online marketplaces adopting digital transformation programs to serve customers and maintain operations. The transition towards digital has led to the significant need for mobile identification.

  • Mobile ID largely relies on biometric technology to function. Any smartphone or tablet can be used as a multi-factor authentication device with the help of biometric software that converts cameras and microphones into biometric sensors. Mobile identity is increasingly supported by strong authentication factors, with fingerprint sensors and facial recognition becoming almost common components of modern smartphones.
  • Consumer and vertical markets both employ mobile identification technologies. It can be used to replace a user's personal passwords or to protect a patient's medical records in a hospital; it can make financial transactions more convenient and secure, or allow law enforcement agents to identify wanted persons in the field; it can open a door, or notify a doctor if a patient requires medical attention.
  • The On-Demand Economy (ODE) companies are shifting towards mobile ID scanning and verification to solve problems related to financing, licensing, compliance, and the personal safety security of both employees and customers. This instant identity verification has triggered the market vendors to offer a mobile, fast, and easy-to-use platform. They also feature smart/connected databases for quicker identity verification results.
  • For large enterprises, it is easier to purchase mobile identity verification solutions. However, for SMEs, it becomes an issue due to insufficient resources in terms of budget. The high initial costs and maintenance of identity verification make it difficult for companies bootstrapped with limited capital. Due to budget restraints, SMBs typically have limited access to bank-grade technology and security solutions, making them an easy target for cybercriminals.

Global Mobile Identification Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)