Mobile Biometric Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region

Global mobile biometrics sales revenue totaled US$ 42 billion in 2024. The market is expected to witness significant growth, reaching US$ 185 billion by 2031, with a projected CAGR of 24% from 2024 to 2031.

Fingerprint Recognition Leads the Way

Fingerprint recognition remains the cornerstone of mobile biometrics, with a projected CAGR of 23.8% from 2024 to 2031. As the most commonly used technology globally, fingerprint recognition is set to emerge as a key revenue driver for mobile biometrics companies.

Key Trends Driving Market Growth

Several trends are shaping the mobile biometrics market, including the rising demand for advanced authentication solutions globally, high usage in sectors like BFSI and healthcare, advancements in mobile biometric solutions, increasing integration in smartphones, and government initiatives to adopt biometrics in the public sector.

Combatting Cybersecurity Threats with Biometrics

The escalating number of cyberattacks is driving innovation in biometric technology, providing a more secure form of authentication for user devices and accounts.

Advantages of Mobile Biometrics

Mobile biometrics offer a range of benefits including high security, faster authentication, convenience, flexibility, improved user experience, and resistance to spoofing.

Rising Popularity of Mobile Biometrics

With the increasing prevalence of smartphones and other mobile devices, the demand for biometric authentication is on the rise. Mobile biometrics provide a convenient and secure way to access applications and services, enhancing overall user experience.

Global Adoption Trends

The global market for mobile biometrics is propelled by the growing adoption of biometric authentication in applications such as mobile banking, online retail, and healthcare. Regionally, North America leads the market, with the United States expected to exhibit significant growth.

Country-wise Insights

Demand Outlook for the United States Mobile Biometrics Market:

The United States mobile biometrics market is expected to show significant growth from 2024 to 2031, driven by a rising demand for smartphones and the integration of biometric technology for enhanced security and convenience. The market is projected to cross a substantial valuation by the end of 2031, with a positive trajectory in sales. Increasing smartphone penetration, which is forecasted to rise steadily over the projection period, will contribute to the growth of mobile biometrics demand in the country.

China: An Opportunistic Market for Mobile Biometrics Companies:

China presents lucrative opportunities for mobile biometrics companies, with a robust market expected to witness impressive growth from 2024 to 2031. The country's leading position in the global smartphone industry, coupled with its high adoption rate of advanced technologies, makes it an attractive market for mobile biometric solution providers. The increasing number of smartphone users in China is poised to drive demand for mobile biometric solutions, reflecting a growing reliance on these technologies.

Japan Mobile Biometrics Market Shaping:

Japan's mobile biometrics industry is expected to exceed a significant valuation by 2031, with steady growth anticipated from 2023 onwards. The BFSI sector in Japan is driving market growth, with mobile biometrics finding increased popularity in facilitating secure and convenient mobile payments. As mobile payments continue to rise in Japan, driven by the convenience of biometric authentication methods, the demand for mobile biometrics solutions is expected to witness a notable increase throughout the projection period.

Category-wise Insights

Fingerprint recognition remains the leading technology in the mobile biometrics industry, offering convenience and security. The BFSI sector prominently utilizes mobile biometrics to enhance security and streamline transactions.

Competitive Analysis

Key players in the mobile biometrics market include M2SYS Technology, Apple Inc, Nuance Communications, 3M, Aware Inc., BIO-key International, Precise Biometrics AB, NEC Corporation, HID Global Corporation, and Safran Inc. These companies are employing various strategies to expand their presence and increase revenues, such as product launches, mergers, partnerships, and acquisitions.

Global Mobile Biometrics Market Segmentation:

By Component:

• Hardware
• Software
• Service

By Authentication Mode:

• Single Factor Authentication
• Multi-Factor Authentication

By Technology:

• Fingerprint Recognition
• Voice Recognition
• Face Recognition

By Industry Vertical:

• Public Sector
• BFSI
• Healthcare
• IT and Telecommunications

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

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