The emergence of cloud-based biometrics and the implementation of multimodal biometrics are presenting the Asia-Pacific biometrics market with potential growth opportunities. Over the forecast years of 2018-2026, the market is expected to register a CAGR of 20.67%.
The India biometrics market is expected to account for the highest CAGR by the end of the forecast period. India’s Department of Food, Civil Supplies, and Consumer Affairs has introduced photo biometric ration cards. The state of Kerala was a pioneer in taking the biometric ration cards initiative ahead. However, the China biometric market is a prominent market in this region. The country garnered the highest revenue share in 2017 and is anticipated to continue its reign throughout the projected years. Increase in IT spending, increased security spending due to terrorist threats, and growing frauds and identity thefts in the region are some the factors responsible for the rise of South Korea’s biometrics market. The Japanese biometrics market is booming because of increasing application of biometrics in sectors like cross-border surveillance and control, airport management, utilities like coal mines, banking and financial institutions, healthcare and educational institutions, and homeland security.
Cross Match Technologies, Imageware Systems, Iritech Inc, Vfs Global, M2sys Technologies, Fujitsu, Siemens, Bioid, Mistral Solutions Inc, Gemalto Nv, Safran and Hid Global are some of the prominent players in this market.