Press release
Asia Pacific Biometrics Market to Reach US$ 19.7 Billion by 2027 | CAGR of 17.6%
Asia Pacific Biometrics Market
Asia Pacific Biometrics Industry Outlook:
Biometrics refers to the process of authenticating and recognizing a user's unique behavioral and physical traits utilizing an electronic device. They involve the usage of automated techniques in which human involvement is lessened to the minimum to recognize and confirm an individual's identity based on their distinctive features, such as iris and voice recognition, fingerprints, and facial pictures. They are secure and convenient systems that are widely utilized in workplaces to streamline numerous processes, such as user authentication, employee identification, and logical and physical access control while safeguarding cloud communication. Additionally, they aid human resource (HR) personnel in reducing the cost and time associated with employee attendance systems and making management processes more systematic.
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Asia Pacific Biometrics Market Trends:
The market in Asia Pacific is primarily driven by the growing demand for highly efficient security systems. Moreover, the widespread utilization of facial recognition technology by various industries and the adoption of voice biometrics solutions by several leading call centers to enhance interactive voice response (IVR) are fuelling the market.
Furthermore, the increasing integration of machine learning (ML) and artificial intelligence (AI) in biometric systems is significantly supporting the demand across the region. Besides this, the introduction of multimodal biometrics that utilizes physiological characteristics and multiple behaviors for authentication that assist in enhancing security performance and recognition is impacting the market favorably. Other factors , such as the rising popularity of biometrics in the retail and e-commerce industries, and government and private sectors and extensive research and development (R&D) activities, are positively influencing the market across the Asia Pacific.
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Key Market Segmentation:
Breakup by Technology:
• Face Recognition
• Hand Geometry
• Voice Recognition
• Signature Recognition
• Iris Recognition
• AFIS
• Non-AFIS
• Others
Breakup by Functionality:
• Contact
• Non-contact
• Combined
Breakup by Component:
• Hardware
• Software
Breakup by Authentication:
• Single-Factor Authentication
• Multifactor Authentication
Breakup by End User:
• Government
• Defense Services
• Banking and Finance
• Consumer Electronics
• Healthcare
• Commercial Safety and Security
• Transport/Visa/Logistics
• Others
Breakup by Country:
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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