The global mobile biometrics market share was valued at $24.6 billion in 2021, and is projected to reach $184.8 billion by 2031, growing at a CAGR of 22.5% from 2022 to 2031.
Rising demands for proper authentication methods are propelling the growth of the global mobile biometric market. Furthermore, rising number of cyber-attacks is also expected to aid in growth of the mobile biometric industry. However, complex installation and infrastructural requirements hamper the mobile biometrics market growth. Conversely, advancements in the field of IoT and cloud technology is expected to offer remunerative opportunities for expansion of the mobile biometric market during the forecast period.
