According to a new report of Strategic Defense Intelligence (2015), Asia Pacific is predicted to become the fastest growing biometrics market globally. In 2015, this market has value at $1.1 billion and is expected to increase three fold by 2025 ($3.3 billion). Moreover, SDI’s research on the Asia Pacific biometric market also puts this growth at a CARG of 11.3% during this period. Based on these statistics, Asia Pacific is step by step overtaking North America, who is dominating global biometric market currently.
This growth is attributed to rising concerns of safety and security; hence there is an increase of the needs for a safe and secure environment, especially in industries such as banking, government, healthcare or commercial safety and security. While traditional identity methods such as credential or password have showed security vulnerabilities like easy to forge or stolen, governments and enterprises in Asia Pacific region tends to switch these old methods to biometric identification systems due to their convenience and fortified level of security. Another driver that boosts the growth of Asia-Pacific biometric market is the technological advancements including internet, mobile devices, software applications and biometrics innovation itself in which China, Japan, India and South Korea are taking the lead. Among biometric modalities, iris recognition is expected to grow the fastest in the coming year due to its high-end security and safe application (Biometrics Services Market: Global Industry Analysis and Opportunity Assessment, 2015 – 2020).
Currently, there are many countries in Asia Pacific implementing biometric programs on large scale such as China, India and Japan or on a fairly medium scale including Australia, Malaysia and Singapore. According to SDI (2015), China and India are the two big contributors to this growth, accounting for a half of the regional market share. The popular biometric programs in these countries are China’s electronic ID programs and the Aadhaar project by Unique Identification Authority of India (UIDAI) which used fingerprint and iris scanner. Moreover, the following countries like Japan, Australia, South Korea and Indonesia are also expanding the market share in Asia Pacific by focusing on national security and adopting biometric solutions such as Automated Biometric Identification System (CABIS), e-gates, mobile fingerprint scanners and foreigners’ fingerprint verification systems.
Regards of biometric technology market by application in Asia Pacific, consumer electronics has the most potential development than the others such as home security systems or commercial security systems. According to Grand view research, consumer biometrics market is predicted to grow significantly over the next seven years and contribute huge revenue to Asia Pacific share. The first factor driving adoption of biometric in consumer electronic is the increased demand for convenience, availability and reachability of embedded biometrics from customer. In details, consumer electronics biometrics has sufficient ability to adapt these needs of customers because currently, this application has been integrated with electronic devices such as laptops and other smartphone devices. Moreover, while mobile payments are on the way of gaining popularity due to high security according to CMO Council, deploying biometrics will ensure high security in mobile payments, which also contribute to growth of consumer electronics in this market. The third factor is the growing population and rising disposable income in emerging economies such as India which has also affected the demand for smartphone.