Biometrics research briefs: face matching software in India, Asia-Pacific and global mobile market
The Indian market for cloud-based 1:N facial matching is among the next hot biometrics markets, according to a new market report. Growth will be strong, but less so, for the Asia-Pacific biometrics market in general, while the growth rate of mobile biometrics will soon begin to decline, recent reports forecast.
Global mobile biometrics
Demand for 3D and in-display fingerprint sensors will rise, but year-over-year growth in the global market for mobile biometrics will decline over the next five years, according to a new report from Technavio on ResearchandMarkets.com, as growth momentum decelerates.
An increasing number of monetary transactions carried out with mobile devices will be a key growth driver for, encouraged by the emergence of mobile wallet enterprises, the “Global Mobile Biometrics Market 2019-2023” report says. The research firm also notes that governments in countries with emerging economies are seeking greater financial inclusion through the use of mobile banking solutions.
The 138-page report also covers the use of mobile biometrics to reduce fraud, and the market challenge posed by privacy concerns related to the storage of biometric data. It includes behavioral biometrics among modalities considered.
The market for biometrics in the Asia-Pacific region was worth $5.39 billion in 2018, and is forecast by Frost & Sullivan to grow at a 21.6 percent CAGR through 2025 by the “Asia-Pacific Biometric Market, Forecast to 2025.”
Safety and security demand in both the public and commercial sector are expected to drive biometrics deployments in the region for the forecast period. Border control, national ID, and law enforcement are high demand areas in the public sector, while in the commercial sector the technology will be used for access control, IT security, surveillance, payments, and other services.
The 201-page report forecasts revenues by sector and technology, as well as by country, and provides analysis of market competition, including key market players and their market share. Various modalities are considered, including signature but not typing dynamics. The report also considers major market trends.
China and India will lead market growth during the forecast period, according to the research firm, and the government, financial services, retail, healthcare, industrial and manufacturing, and enterprise sectors will all grow.
India face matching
The market for face matching and authentication software in India is expected to grow from $700.6 million in 2018 to $4.336 billion by 2024, a CAGR of 35.9 percent, according to a new report from TechSci Research.
The “India Face Matching And Authentication Software Market…” report suggests multimodal biometric adoption, growing demand for cloud-based face matching and authentication software, and growing demand in the banking and financial sector will fuel market growth, with smartphones further increasing biometric software demand.
Cloud systems were the dominant deployment type in 2018, and are expected to grow the fastest, because of reduced IT staffing and administration, increased flexibility, on-demand scalability and a low total cost of ownership, TechSci says. By authentication type, 1:N searches are the most common now, and will continue to be so, as improving technology enables results to be returned in one to five seconds. Enterprise applications for physical access, attendance tracking, and logical access to corporate networks are the most common type of deployment vertical. The technology is also becoming more accepted for these applications, according to the report.