Asia Pacific Biometric Technologies Market Forecast to 2030 - Regional Analysis by Component, Type, Authentication Type, and End User

The Asia Pacific biometric technologies market was valued at US$ 11.15 billion in 2022 and is expected to reach US$ 35.43 billion by 2030; it is estimated to register a CAGR of 15.5% from 2022 to 2030.

Technological Advancements Reinforcing Security Levels Boost Asia Pacific Biometric Technologies Market

Technological advancements in biometric technologies are focused on enhancing their versatility, security, and reach to masses. Artificial Intelligence (AI) and Machine Learning (ML) further contributing to the improvement of accuracy and reliability of biometric systems, lowering the possibilities of false positives and negatives, which would have a positive impact on security and user confidence. The expansion of AI-driven biometrics, particularly facial and behavioral biometrics (gait, voice, and accent recognition), is likely to fuel the emergence of new forms of real-time biometric identity verification through on-premises cameras.

Biometric authentication technology has become more prevalent in the industrial sector with the most recent AI advancements. According to IBM, 20% of breaches are the result of compromised credentials. Moreover, detecting and addressing a data breach can take an average of 287 days, which further worsens the impact. AI-based security solutions are likely to be instrumental for businesses to stay competitive in any sector. IBM mentions 25% of companies had fully implemented AI-based security in place as of 2021, while 40% had completed partial implementation. As of 2021, purchasing AI-powered security could help save a business up to US$ 3.81 million.

Although secure biometric passwords are in use and more sophisticated biometric solutions are available in the market, newer technologies concentrate on extracting more sophisticated biometric markers from the human body, each of which adds another difficult-to-fake biometric trait into the secure authentication process. These can include reading DNA signatures, hand geometry, odor recognition, and cardiac pattern recognition. Therefore, technological advancements are creating exciting opportunities for the biometric technology market.

Asia Pacific Biometric Technologies Market Overview

The Asia Pacific biometric technologies market is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in this region is expected to record the highest CAGR from 2022 to 2030. An upsurge in urbanization and digitalization results in a rise in the number of cyberattacks, and data breaching activities. According to the World Economic Forum, Asia Pacific observed the highest year-over-year increase in weekly cyberattack numbers during the first quarter of 2023, averaging 1,835 attacks per organization, which raises concern among organization to protect their sensitive information against cyber-attacks.

Thus, a subsequent increase in the adoption of biometric software among consumers in Asia Pacific for authentication and identity verification purposes propels the market. The growing demand for biometric technologies across the globe encourages key market players in Asia Pacific to expand their global footprint by acquiring larger than-before consumer bases.

In February 2023, Aratek Biometrics (as per its press release) organized numerous events in Mexico, Kenya, Amsterdam, France, and Singapore to showcase cutting-edge digital identity and biometric security technologies. This also allows the company to increase awareness related to the importance of biometric solutions, providing valuable insights into the trending biometric authentication solutions, and meeting the needs of governments and commercial entities around the world.

Asia Pacific Biometric Technologies Market Segmentation

• The Asia Pacific biometric technologies market is categorized into component, type, authentication type, end user, and country.
• Based on component, the Asia Pacific biometric technologies market is segmented into hardware, software, and services. The hardware segment held the largest share of Asia Pacific biometric technologies market share in 2022.
• In terms of type, the Asia Pacific biometric technologies market is segmented into contact, contactless, and hybrid. The contact segment held the largest share of Asia Pacific biometric technologies market in 2022.
• By authentication type, the Asia Pacific biometric technologies market is bifurcated into single factor authentication and multi factor authentication. The single factor authentication segment held a larger share of Asia Pacific biometric technologies market in 2022.
• Based on end user, the Asia Pacific biometric technologies market is categorized into government, BFSI, healthcare, defense & security, and others. The government segment held the largest share of Asia Pacific biometric technologies market in 2022.
• By country, the Asia Pacific biometric technologies market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. China dominated the Asia Pacific biometric technologies market share in 2022.
• Aware, Inc.; Thales SA; Cognitec Systems GmbH; NEC Corp; IDEMIA France SAS; HID Global Corp; Fujitsu Ltd; Leidos Holdings, Inc.; and Precise Biometrics AB are some of the leading companies operating in the Asia Pacific biometric technologies market.

Market Highlights

• Based on component, the Asia Pacific biometric technologies market is segmented into hardware, software, and services. The hardware segment held 57.2% share of Asia Pacific biometric technologies market share in 2022, amassing US$ 6.38 billion. It is projected to garner US$ 21.43 billion by 2030 to register 16.4% CAGR during 2022-2030.
• In terms of type, the Asia Pacific biometric technologies market is segmented into contact, contactless, and hybrid. The contact segment held 52.5% share of Asia Pacific biometric technologies market in 2022, amassing US$ 5.85 billion. It is anticipated to garner US$ 17.62 billion by 2030 to expand at 14.8% CAGR during 2022-2030.
• The single factor authentication segment held 73.0% share of Asia Pacific biometric technologies market in 2022, amassing US$ 8.14 billion. It is projected to garner US$ 24.69 billion by 2030 to expand at 14.9% CAGR from 2022 to 2030.
• The government segment held 37.9% share of Asia Pacific biometric technologies market in 2022, amassing US$ 4.23 billion. It is predicted to garner US$ 14.71 billion by 2030 to expand at 16.9% CAGR between 2022 and 2030.
• This analysis states that China captured 25.2% share of Asia Pacific biometric technologies market in 2022. It was assessed at US$ 2.81 billion in 2022 and is likely to hit US$ 10.34 billion by 2030, registering a CAGR of 17.7% during 2022-2030.
• In March-2024, Cognitec Systems has joined the SALTO Group, a global leader in access control and ticketing solutions. The acquisition aims to strengthen research, development, and market reach for Cognitec's existing product portfolio while working on new technologies for expanding biometric markets.
• In January-2023, Cognitec has introduced a new version of its FaceVACS-Entry technology, which now allows for comparison of biometric photos against facial images from ID documents or databases. The device also includes presentation attack detection to ensure a live person interacts with it. The product includes Cognitec's ISO compliance software and a robust matching algorithm for fast verification and identification.

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