Mobile Biometrics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Application (Access Control, Mobile Banking, Other Applications) and Geography.

Market Snapshot

mobile biometrics market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 26 %

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Market Overview

The Mobile Biometrics Market was valued at USD 18.63 billion in 2020 and is expected to reach USD 74.58 billion by 2026, at a CAGR of 26% over the forecast period 2021 - 2026. Over the years, the requirement to control access to data, premises, and systems has grown. Presently, many organizations rely on passwords, PIN numbers, or cards to confirm people’s identity for access. However, this traditional approach poses severe challenges. Biometric on mobile devices has become popular in recent years. The technology moved toward user-friendliness and also became much more affordable for consumers. This technology has been leveraged to facilitate online transactions, authentication, and many other services.

  • Some major banks leverage biometric technologies in a variety of scenarios, such as cash withdrawals at the ATM, authenticating mobile banking apps using fingerprint signing, or a combination of face and voice verification. For instance, the Bank of America rolled out fingerprint authentication and Touch ID in 2015 and more than half of the bank’s customer used the biometric for mobile access by the middle of 2017.
  • Facial recognition, also poised for growth across industries, is witnessing a boost from the launch of Apple’s Face ID system. Tesco Bank is one of the banks that updated its mobile banking app to make it compatible with Apple's Face ID, letting customers log into their accounts and make payments by using facial recognition.
  • Biometrics has also brought a radical change in security operations in places, such as airports and international borders. Many countries across the world deployed biometric identification at their borders. Also, numerous airports are using automatic facial recognition boarding system which saves time and keeps the customers happy. UK police officers are exploring the potential of automated facial recognition technology (AFR) and how this technology can be adopted on their smartphones in the future.

Scope of the Report

Mobile biometric refers to mobile applications of biometrics, which include embedded sensors and readers, as well as mobile apps which exploit biometrics. This includes handheld systems, as well as systems based on a tablet or smartphone. Mobile biometrics is reliable to secure personal accounts, devices, and identification details of one in the system.

By Application
Access Control
Mobile Banking
Other Applications
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of the World

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Key Market Trends

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.
mobile biometrics market

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.
mobile biometrics market

Competitive Landscape

The mobile biometrics market is highly competitive and consists of several players. Many companies are increasing their market presence by introducing new products or solutions or by entering into strategic mergers and acquisitions.

  • March 2019 - AppGuard launched TRUSTICA Mobile, which is a consumer mobile device communication app with military-grade security, including iris, facial, and fingerprint biometrics for user authentication and encryption keys that change for each interaction.
  • August 2018 - Ipsidy Inc. launched its Access mobile biometric identity solution for physical access management. Access works with the company's Concierge tablet-based application, which provides the site attendant with real-time monitoring of enrolled people, as well as registration, reporting, and analytical tools.

 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Popularity of Mobile Commerce

      2. 4.2.2 Increasing BYOD Security Requirement

    3. 4.3 Market Restraints

      1. 4.3.1 Concerns About Data Privacy and Data Breach

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Technology Snapshot

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Access Control

      2. 5.1.2 Mobile Banking

      3. 5.1.3 Other Applications

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

      2. 5.2.2 Europe

        1. 5.2.2.1 United Kingdom

        2. 5.2.2.2 Germany

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 South Korea

        4. 5.2.3.4 India

      4. 5.2.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Aware Inc.

      2. 6.1.2 Mobbeel Solutions SLL

      3. 6.1.3 Veridium Ltd

      4. 6.1.4 M2SYS Technologies

      5. 6.1.5 Fingerprint Cards AB

      6. 6.1.6 Nuance Communications Inc.

      7. 6.1.7 Precise Biometrics AB

      8. 6.1.8 ValidSoft Limited

      9. 6.1.9 VoiceVault Inc.

      10. 6.1.10 IDEMIA (Safran Identity & Security SAS)

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Mobile Biometrics Market market is studied from 2018 - 2026.

The Mobile Biometrics Market is growing at a CAGR of 26% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

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

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