ReportsnReports.com adds report Biometrics Market in South East Asia and ANZ 2014-2018 to its store.Biometrics market in South East Asia and ANZ to grow at a CAGR of 15.82 percent over the period 2013-2018. One of the key factors contributing to this market growth is the high adoption of biometrics in the Government sector. The Biometrics market in South East Asia and ANZ has also been witnessing increased mergers and acquisitions. However, the strong competition from inexpensive non-biometric technologies could pose a challenge to the growth of this market.
One of the most prominent trends witnessed in the market is the increased mergers and acquisitions. The Biometrics market in Southeast Asia and ANZ is witnessing increasing consolidation, which is expected to continue in the future. Both existing vendors and new entrants are taking the acquisitive route to either enter the market or broaden their portfolio of offerings. For instance, French defense company Safran completed the acquisition of biometric solution provider L-1 Identity Solutions in the second quarter of 2011 for US$1 billion. The acquisition helped Safran become a leading player in the Global Biometrics market. 3M completed the acquisition of Cogent Inc. in December 2010 for US$943 million. Cogent manufactures biometric recognition systems that allow governments and businesses to identify individuals by their fingers, palms, faces, and irises.
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According to the report, the growth of the Biometrics market in Southeast Asia and ANZ is driven by several factors, the most important of which is the high adoption of biometrics in the Government sector. There has been a substantial increase in the number of cyber-attacks on government departments and installations in Southeast Asia and ANZ over the past few years. Insider thefts are also increasing in government departments. As a result, the adoption of biometric solutions in the Government sector is increasing. This is in turn supporting the growth of the Biometrics market in Southeast Asia and ANZ.
Further, the report states that one of the key challenges in the market is the strong competition from inexpensive non-biometric technologies. The presence of low-cost alternative technologies such as swipe cards, token-based two-factor authentication, and software authentication is a major challenge affecting the growth of the Biometrics market in Southeast Asia and ANZ.Biometrics Market in South East Asia and ANZ 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the South East Asia and ANZ region; it also covers the Biometrics market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors dominating this space are 3M Cogent Inc., Fujitsu Ltd., NEC Corp., and Safran SA.
Other vendors mentioned in the report are AOptix Technologies Inc., Aware Inc., Biometix Pty Ltd, Cross Match Technologies Inc., and Identity One Group.
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Key questions answered in this report:
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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