Biometrics Market Alert: AuthenTec Inc., Fujitsu Ltd., and NEC Corp Dominating Global Consumer Electronic Biometrics Market 2012-2016
September 25, 2013 (Investorideas.com Newswire) Research and Markets 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.
The key vendors dominating this space include 3M Cogent Inc., AuthenTec Inc., Fujitsu Ltd., and NEC Corp.
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 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.
Further, the report states that one of the major challenges is the availability of inexpensive non-biometrics technologies. There is a high availability of solutions such as token-based two-factor authentication, password authentications, and software authentication. They are comparatively inexpensive and are much easier to operate, thereby finding greater acceptance among individual consumers. Therefore, it affects the growth of the Global Consumer Electronics Biometrics market.
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.