[March 06, 2014]

Research and Markets: Global Consumer Electronic Biometrics Market 2012-2016: Read what's Trending, also included Market Size, Drivers and Challenges

Research and Markets (http://www.researchandmarkets.com/research/q4bbd6/global_consumer) has announced the addition of the "Global Consumer Electronic Biometrics Market 2012-2016" report to their offering.

The analysts forecast the Global Consumer Electronic Biometrics market to grow at a CAGR of 40.45 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing use of personal devices for financial transactions. The Global Consumer Electronic Biometrics market has also been witnessing increasing number of mergers and acquisitions. However, the availability of inexpensive non-biometric technologies could pose a challenge to the growth of this market. /p>

Commenting on the report, an analyst from the team said: The Global Consumer Electronics Biometrics market has been witnessing increasing consolidation and is expected to continue in the coming years. Both the existing vendors and new entrants prefer the acquisitive route to either enter the market or broaden their portfolio of offerings. For instance, Apple acquired AuthenTec for US$356 million in 2012, which helps Apple attain all its patents for biometrics security in mobile devices. 3M (News - Alert) completed the acquisition of Cogent Inc. in December 2010 for US$943 million. Cogent is a maker of biometrics recognition systems that allow governments and businesses to identify individuals by their fingers, palms, faces, and irises.

According to the report, the major growth driver is increasing use of personal devices for financial transactions. Since financial institutions are encouraging the use of mobile banking and online financial transactions, the need for high-level security is increasing. Also, the use of biometrics in consumer electronics helps in providing high-level security, enabling the growing use of biometrics in consumer electronics.

For more information visit http://www.researchandmarkets.com/research/q4bbd6/global_consumer

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