According to the new market research report "Mobile Biometrics Market by Component (Fingerprint Readers, Scanners, Cameras, Software), Authentication Mode (Single factor (Fingerprint, Voice, Face, Iris, Vein, & Retina Scan) and Multifactor), Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to grow at a CAGR of 29.3% to reach USD 49.33 Billion by 2022.

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The growing penetration of mobile devices and increasing number of mobile transactions are driving the growth of the mobile biometrics market. Over the last few years, the number of online transactions and e-commerce has gradually gone up and has created a huge opportunity for the companies to invest in the biometric industry to secure these transactions. A shift from traditional commerce to smart commerce using biometric-enabled mobile devices would save time and provide high security for transactions.

Market in healthcare industry is expected to grow at a high rate during the forecast period 

The market in the healthcare industry is expected to grow at the highest rate between 2016 and 2022. The proliferation of electronic health records (EHRs) and the transition of data across health information exchanges (HIEs) created a huge demand for mobile biometrics as it is essential to secure and protect these digital records. Healthcare providers are using biometric patient identification systems to ensure patient safety by ensuring that patients are accurately identified prior to treatment.

Fingerprint recognition is expected to dominate the single-factor authentication mode during the forecast period 

The fingerprint recognition technology is the most prominent biometrics technology that is being used at present. Most of the smartphone manufacturers such as Apple and Samsung use fingerprint recognition technology in their offerings. This strategy is being followed by emerging companies across the world. As fingerprint recognition is the most convenient technology in terms of investment and market acceptance, it is expected to lead the market during the forecast period.

North America holds the largest share of the mobile biometrics market; APAC is expected to grow at the highest rate during the forecast period 

The adoption of mobile biometric technologies in passports & visas, banking & finance, large-scale funded programs, and employee access monitoring in buildings is driving the growth of the mobile biometrics market inNorth America.