Reportstack has announced a new market research publication on Biometrics Market in South East Asia and ANZ 2014-2018. The following companies are the key players in the Biometrics Market in South East Asia and ANZ: 3M Cogent Inc., Fujitsu Ltd., NEC Corp., and Safran SA. “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.”
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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.reportstack.com/product/148267/biometrics-market-in-south-east-asia-and-anz-2014-2018.html.
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