Japan biometrics market to see 34.6% CAGR spike by 2018, says report

Analysts project that Japan’s biometrics market will see a 34.6 percent CAGR rise from 2013 to 2018, according to a new report released by ReportsnReports.com.

The report, “Biometrics Market in Japan 2014-2018”, analyzes the current scenario and the many growth prospects of Japan’s biometrics market from 2013 to 2018. To calculate the market size, the authors of the report took into account the revenue earned from biometrics solution sales.

In addition, the report explores the vendor landscape and analyzes the top four vendors in the market, highlights the major drivers that impact the growth of the biometrics market in Japan, lists the barriers that are negatively impacting vendors and the market at large, and points out the emerging market trends.

Perhaps the largest trend contributing to the growth of Japan’s biometrics market is the integration of biometrics in ATMs, which is closely followed by the use of biometrics and smart cards in rural banking, the updating of driver’s licenses, and the use of biometrics as a stand-alone authentication device for different purposes.

The integration of biometrics in smart cards can provide the added benefit of offline authentication, which is particularly ideal for those end-users in remote locations that do not have access to proper communication lines.

Additionally, smart cards can allow end-users to store multiple applications for various purposes.

The report states that a smart card integrated with biometrics provides end-users with both physical and logical access as well as the ability to store all the necessary data. Meanwhile, individuals can keep tabs on their access histories by using a smart card terminal.

The integration of biometrics in ATMs has become especially popular because end-users can access their accounts and perform various transactions more easily than when using cards and personal identification numbers, according to the report.

Article Topics

biometrics  |  financial services  |  Japan  |  market research