Global Biometrics as a Service Market, By Modality (Unimodal, Multimodal), Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), Scanner Type (Fingerprint recognition, Voice Recognition, Iris Recognition, Palm Recognition, Facial Recognition), Trait (Physiological, Behavioral), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Function (Mobile Banking, Payments and Authentication, Identity Proofing and Credentialing, Law Enforcement and Border Control, Civil Identity and Elections, Workforce Management, Others), Application (Site Access Control, Time Recording, Mobile Application, Web and Workplace), End-User Industry (Government, Retail, BFSI, IT and Telecom, Healthcare), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa), Industry Trends and Forecast to 2029.
Market Analysis and Insights of Biometrics as a Service Market
Biometrics as a service market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to reach at an estimated value of USD 3.0 billion by 2029 and grow at a CAGR of 9.65% in the above-mentioned forecast period.
Biometrics-as-a-service (also referred as BaaS) is basically a cloud-based application which is able to identify and authenticate individuals on the basis of their biological and behavioral characteristics. Generally, it is based on biometrics technology which records the user’s presence by highly accurate eye, voice and facial recognition, which apparently helps in enhancing the security of the existing organizational infrastructure.
The factors such as increased use of mobile devices and threats caused due to high security are expected to emerge as the significant factors accelerating the growth of biometrics as a service market in the above-mentioned forecast period. In addition to this, its advantages such as more secure than traditional forms of entry of codes like pin, passwords and locks, among others will further aggravate the growth of the biometrics as a service market. However, the factors such as security of biometric data on cloud storage and involvement of high cost for the biometric technologies results as a growth restraint for the market.
The increasing use of digital platforms for transactions is anticipated to generate lucrative opportunities for the biometrics as a service market. On the other hand, the integration of biometric infrastructure into the existing systems will pose as a challenge for the biometrics as a service market.
This biometrics as a service market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Biometrics as a service market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Biometrics as a Service Market Scope and Market Size
The biometrics as a service market is segmented on the basis of modality, deployment model, scanner type, trait, organization size, function, application and end-user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of modality type, biometrics as a service market is segmented into unimodal and multimodal.
- On the basis of deployment model, biometrics as a service market is segmented into public cloud, private cloud and hybrid cloud.
- On the basis of scanner type, biometrics as a service market is segmented into fingerprint recognition, voice recognition, iris recognition, palm recognition and facial recognition.
- On the basis of trait, biometrics as a service market is segmented into physiological and behavioral.
- On the basis of organization size, biometrics as a service market is segmented into small and medium sized enterprises and large enterprises.
- On the basis of function, biometrics as a service market is segmented into mobile banking, payments and authentication, identity proofing and credentialing, law enforcement and border control, civil identity and elections, workforce management and others.
- Based on application, biometrics as a service market is segmented into mobile banking, payments and authentication, identity proofing and credentialing, law enforcement and border control, civil identity and elections, and workforce management and others.
- On the basis of end-user industry, biometrics as a service market is segmented into government, retail, BFSI, IT and telecom and healthcare.
Biometrics as a Service Market Country Level Analysis
The biometrics as a service market is analyzed and market size, volume information is provided by modality, deployment model, scanner type, trait, organization size, function, application and end-user industry as referenced above.
The countries covered in the Biometrics as a service market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the biometrics as a service market during the forecast period owing to the presence of early adopters and providers of key biometrics as a service. The willingness of customers to use new technologies has also encouraged manufacturers in the region to develop new and advanced products. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to growing trend of biometrics as a services within the above mentioned forecast period.
The country section of the biometrics as a service market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Biometrics as a Service Market Share Analysis
The biometrics as a service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to biometrics as a service market.
Some of the major players operating in the biometrics as a service market report are Fujitsu, Idemia, Aware, Inc., Leidos, M2SYS Technology, IRITECH, INC., Biometrics Research Group, Inc. , Certi, HYPR Brands, a JuliusWorks, Inc., BioID, Accenture, Fulcrum Biometrics, Inc., Cognitec Systems GmbH, SecuGen Corporation, Integrated Biometrics, 1 HID Global Corporation, UNIONCOMMUNITY Co. Ltd., Suprema, and Nuance Communications Inc., among others.
SKU-