“The rising instances of identity thefts and cyber crimes are boosting the adoption of multifactor authentication and multimodal technology systems.”
Frost and Sullivan is predicting that the expansion of national ID programs will fuel the demand for biometric technology in the Asia-Pacific region over the next few years. In its report, the research firm noted that the public sector accounted for a whopping 79.4 percent of biometrics revenue in 2018, with the remaining 20.6 percent accounted for in the commercial space.
The introduction of biometric border control, ePassports, and surveillance systems with facial recognition capabilities are also expected to be major contributors to market growth. Frost and Sullivan believes that the APAC biometrics market will climb from $5.39 billion in 2018 to $21.19 billion by 2025.
Mobile biometrics, meanwhile, will be particularly important on the commercial side. As mobile payments become more popular, more apps will require biometric authentication and device manufacturers will incorporate biometric sensors into their designs.
“The rising instances of identity thefts and cyber crimes are boosting the adoption of multifactor authentication and multimodal technology systems,” said Frost & Sullivan APAC Industry Manager Nandini Bhattacharya.
The predictions about the APAC mobile biometrics market and the border security market are in keeping with previous Frost and Sullivan reports. The research firm has also forecast significant growth for the global biometrics market at large.
August 22, 2019 – by Eric Weiss