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Proliferating Security Threats Trigger Growth Spike for the Asia Pacific Biometrics Market Finds Frost & Sullivan - The Asia Pacific biometrics market has made hay against the background of escalating security concerns in the region. The Bali bomb blasts and recent attacks on the city of Mumbai have raised concerns regarding the existing security measures
Proliferating Security Threats Trigger Growth Spike for the Asia Pacific Biometrics Market Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Singapore, Singapore, 2010/03/11 - The Asia Pacific biometrics market has made hay against the background of escalating security concerns in the region. The Bali bomb blasts and recent attacks on the city of Mumbai have raised concerns regarding the existing security measures.

   
 
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Legislations are being passed to beef up security across the countries in the region. In such a scenario, biometrics have assumed great importance, and it will only be a matter of time before it becomes the standard security technology. With the backing of the government, biometrics is being considered for official government buildings, military installations, laboratories, and hospitals.

New analysis from Frost & Sullivan (autoid.frost.com), The Asia Pacific Biometrics Market, finds that the market earned revenues of over $165 million in 2009 for hardware only and estimates this to reach $700.7 million in 2015.

"The market is still in the growth stage, and new avenues of opportunity are opening up for investors in both security and database management applications," says Frost & Sullivan Industry Analyst Navin Rajendra. "As more countries adopt national ID projects and e-Passport programs, the market is expected to gain momentum."

Consumers are becoming increasingly aware of the potent advantages of biometrics, which include convenience, speed, and accuracy. The spurt in R&D activity in this sector has resulted in the rollout of faster, more accurate, and more ergonomically designed biometric systems.

Although the prospects for biometrics look bright in the Asia Pacific, there are some impediments clouding the market landscape. The cost of a biometric system remains a major deterrent to adoption. Due to the economic downturn, enterprises have been functioning on shoestring budgets for an extended period and are unwilling to spend on security. Besides, large-scale deployment of biometrics in an enterprise is a time consuming process.

With these challenges looming large, consumers have questioned the ROI of these solutions. Another matter reigning in market progression is the large number of legacy systems being used for security. A strong foundation of legacy systems such as keypads, swipe cards, and so on will make the case more difficult for biometric solutions.

While fingerprint modality continues to account for the largest percent of biometric solutions used in the Asia Pacific region, hygiene issues have been a major roadblock in markets such as Japan, Taiwan, and South Korea. In many of these cultures, it is often considered unhealthy and unclean to press one's finger or thumb on a reader that is used by many strangers.

"Vendors in these countries have resolved the problem to a certain extent by employing contactless modes of biometric identification," notes Rajendra. "However, there is a limit to the number of applications that can use contactless modes of biometric identification as a result of the size of the reader."

Consumer electronic goods such as mobile phones and personal digital assistant (PDAs) would be affected as it will not be economical to have a contactless reader against a standard fingerprint swipe. Nevertheless, biometric technology has found vigorous uptake in real estate, retail, and entertainment complexes.

Meanwhile, voice recognition software is being tested for phone banking services and is expected to provide a push for voice biometrics. However, this will be made possible only if there is proper development of the standard voice lines.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

The Asia Pacific Biometrics Market is part of the Automatic Identification & Security Growth Partnership Service program, which also includes research in the following markets: SEA ANZ RFID Market and Asia Pacific Electronic Access Control Systems (EACS) Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

The Asia Pacific Biometrics Market / P279

Contact:
Carrie Low
Corporate Communications – Southeast Asia
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low[.]frost.com.

 
 
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Proliferating Security Threats Trigger Growth Spike for the Asia Pacific Biometrics Market Finds Frost & Sullivan

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