|APAC Mobile Biometric Identification and Authentication Market, Forecast to 2021|
|Assessment of Key Market Participants in Asia-Pacific for Investment and Partnership Opportunities to Change the Future for the Better|
Biometric identification and authentication is well positioned to complement and potentially replace existing traditional verification processes such as those using pins and passwords, security questions, and even personal identity verification. The role of biometrics is becoming more important now that the industry is heading towards becoming mobile first. As a result, mobile biometrics is picking up and on a high growth trajectory in the Asia-Pacific region.
Drivers include increasing adoption of smartphones and higher adoption of mobile transactions in the region. Multimodal biometrics is the preferred choice due to increased emphasis on security. Biometric authentication for mobile payment services is starting to become the norm, Apple and Samsung having led the way by incorporating biometrics into their smartphones. Governments in Asia-Pacific are starting to adopt biometric capabilities for national security, especially in terms of border control and citizens’ identification. India, in particular, has led the way in terms of government efforts in digitalizing citizens’ identification.
Mobile biometrics can help stimulate revenue growth. It can generate more revenue while also improving customer experience. It can also result in cost reductions, for instance, by reducing IT cost associated with retrieving forgotten pins and passwords, lessening the rate of cyberattacks with higher security, protecting systems from hacking and data theft, and enabling quicker customer identification and recognition resulting in a smaller staff requirement to serve customers.