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September 6, 2016

Mobile biometrics market grows fast, important in healthcare

In 2022 the mobile biometrics market will be worth 49.33 billion USD. The CAGR (compund annual growth rate) will be 29,33 percent between 2016 and 2022. Currently the mobile biometrics market is worth some 4 billion USD, according to the report Mobile Biometrics Market by Component, Authentication Mode and Multifactor, Industry, and Geography – Global Forecast to 2022.

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The market is driven by factors such as the growing demand for smart devices, government initiatives, and increasing penetration of e-commerce and mobile transactions, writes ReportLinker.

Looking at regions, the mobile biometrics market in APAC (Asia-Pacific) is expected to witness prominent growth. The APAC region promises high growth in mobile biometrics as many countries are actively using biometrics for national programs such as voter registration, national ID, and others. India and China are leading in this field as they are developing countries and the most populous nations. Factors such as demand for consumer electronics, emerging economies, large population, and so on make APAC a lucrative market.

The highest growth segment wise will be in biometrics software, the major building block of mobile biometric devices. The use of mobile apps and cloud delivery model by industries such as banking, healthcare, and travel & immigration are the key factors contributing to the growth of the overall mobile biometrics software market.

Biometrics in healthcare

Healthcare biometrics refers to biometric applications in doctors’ offices, hospitals, or for use in monitoring patients. Biometrics in healthcare often takes two forms: providing access control to resources and patient identification solutions. The growing demand for biometrics solutions is mainly driven by the need to combat fraud, along with the imperative to improve patient privacy along with healthcare safety. Biometrics are also increasing being used for medical monitoring and mobile healthcare.

Biometric device manufacturers such as Apple are actively investing in software, and the introduction of cloud delivery model in the biometrics industry is further expected to drive the market at a high rate.  The major companies in the mobile biometric ecosystem according to the report are:

1. Apple Inc. (U.S.)
2. Nuance Communications, Inc. (U.S.)
3. Safran SA (France)
4. M2SYS Technology (U.S.)
5. 3M Cogent, Inc. (U.S.)
6. Precise Biometric (Sweden)
7. Crossmatch (U.S.)
8. BIO-key (U.S.)
9. Aware Inc. (U.S.)
10. Applied Recognition, Inc. (Canada)
11. EyeVerify, Inc. (U.S.)
12. Fulcrum Biometrics, LLC (U.S.
 

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