Mobile Biometrics Market to Grow at 103.3% CAGR Driven by Facial Recognition in BFSI Sector to 2020
RnRMarketResearch.com adds Global Mobile Biometrics Market 2016-2020 latest research report, the analysts forecast global mobile biometrics market to grow at a CAGR of 103.3% during the period 2016-2020.
Pune, India – May 30, 2016 /MarketersMedia/ —
One trend that will boost mobile biometrics market growth if facial recognition biometrics is adopted in the BFSI sector, Facial recognition is likely to be used in consumer electronics for analyzing an individual’s facial features to gain access to online transactions and applications. Facial recognition is considered one of the most reliable solutions for verifying an individual’s identity. With an increase in the adoption of consumer electronics and growing acceptance of mobile payments, mobile commerce is gaining traction. Due to instances of identity theft and financial fraud, organizations are supporting the use of facial recognition in consumer electronics for identity verification on apps.
Complete report on mobile biometrics market spread across 76 pages, analyzing 5 major companies and providing 19 data exhibits is now available at http://www.rnrmarketresearch.com/global-mobile-biometrics-market-2016-2020-market-report.html
According to the 2016 report, a key growth driver for mobile biometrics market is the implementation of BYOD policies by companies which allows companies to use personal devices at work. This helps the employees in increasing their productivity and managing their travel time, thereby reducing the operational costs of companies since some costs, such as repair and maintenance costs, would no longer be applicable. Small and medium-sized enterprises worldwide are increasingly adopting BYOD policies to reduce their operational costs. An increase in the mobile workforce has enabled small and medium-sized enterprises to have their employees across a given region, which in turn has boosted their sales and productivity.
Global Mobile Biometrics Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The report covers the present scenario and the growth prospects of the global mobile biometrics market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of biometrics solutions such as application software used in mobile devices like smartphones and tablets. The revenues do not include the hardware cost such as cameras and sensors. The revenue generated from after-sales services is also not considered. Order a copy of Global Mobile Biometrics Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=582853
The Mobile Biometrics Market is divided into the Following Segments Based on Geography: Americas, APAC, Europe and Middle East and Africa.
The following companies are the key players in the global mobile biometrics market: 3M Cogent, Apple, Google, NEC, and Nuance Communications. Other Prominent Vendors in the market are: AGNITiO, Allied Time USA, AMD, Animetrics, ASUS, BioEnable, BioID, BIO-key, Cognitec Systems, Dell, Dermalog Identification Systems, Diamond Fortress, FacialNetwork, Fareclock, Fingerprint Cards, Fulcrum Biometrics, HP, IDEX ASA, ImageWare Systems, Intel Security, Kairos, KeyLemon, Lenovo, M2SYS Technology, Precise Biometrics, Samsung, SpeechPro, Suprema, VoicePass, ValidSoft, VoiceTrust, VoiceVault, and Windows.
Further, the report states that one challenge that could hamper market growth is the high total cost of ownership to implement and maintain biometric applications.
Another related report is Global Palm Vein Biometrics Market 2016-2020, the analysts forecast global palm vein biometrics market to grow at a CAGR of 22.46% during the period 2016-2020. Multi-factor authentication is a verification technique that uses two or more different authentication methods such as PINs, one-time passwords, and biometrics. Multi-factor authentication acts as an additional security layer and makes it difficult for an unauthorized person to access a database, physical location, or computing device. Multi-factor authentication solutions incorporate the use of different biometric technologies to authenticate payment transactions on mobile devices such as smartphones, tablets, and laptops. Browse complete report @ http://www.rnrmarketresearch.com/global-palm-vein-biometrics-market-2016-2020-market-report.html
A number of construction and manufacturing utilities are likely to adopt palm vein recognition technology due to its user-friendliness. Any cuts, bruises, or dust on the hands of a worker might prevent him from gaining access to secure premises using fingerprint recognition technology. Palm vein recognition technology does not have this problem.
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