|[March 21, 2014]
Research and Markets: Global Mobile Biometrics Market 2014-2018: Increasing Use of Personal Devices for Financial Transactions a Major Driver
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/wszs6c/global_mobile)
has announced the addition of the "Global
Mobile Biometrics Market 2014-2018" report to their offering.
The analysts forecast the Global Mobile Biometrics market will grow at a
CAGR of 156.9 percent over the period 2013-2018. One of the key factors
contributing to this market growth is the increasing use of personal
devices for financial transactions. The Global Mobile Biometrics market
has also been witnessing an increasing number of mergers and
acquisitions. However, the availability of inexpensive non-biometrics
technologies could pose a challenge to the growth of this market.
The key vendors dominating this space are 3M Cogent Inc., AuthenTec
Inc., Fujitsu Ltd., and NEC (News - Alert) Corp.
The other vendor mentioned in the report is BioEnable Technologies Pvt.
Commenting on the report, an analyst from the team said: The increase in
mergers and acquisitions is one of the most prominent trends witnessed
in the market. The Global Mobile Biometrics market is currently
witnessing increasing consolidation, which is expected to continue in
the future. Both existing vendors and new entrants are taking the
acquisitive route to either enter the market or broaden their portfolio
of offerings. For instance, Apple (News - Alert) acquired AuthenTec for US$356 million
in 2012. The acquisition helped Apple attain all its patents for
biometric security in mobile devices. 3M completed the acquisition of
Cogent Inc. in December 2010 for US$943 million. Cogent develops
biometric recognition systems that allow government and businesses to
identify individuals by their fingers, palms, faces, and irises.
According to the report, the growth of the Global Mobile Biometrics
market is driven by several drivers. One such driver is the increasing
use of personal devices for financial transactions. Financial
institutions, these days, are encouraging the use of mobile banking and
online financial transactions, thereby increasing the need for
high-level security. Since the use of biometrics in mobile devices helps
provide high-level security, there has been an increase in the adoption
of biometrics in mobile devices.
For more information visit http://www.researchandmarkets.com/research/wszs6c/global_mobile
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